Citation:

Dr. Abdou Aziz Toure, Dr. Souleymane Keita, Ibrahima Sy. "Impact of Public Education Expenditures on Economic Growth in Senegal (1970–2023)" International Research Journal of Economics and Management Studies, Vol. 4, No. 11, pp. 147-151, 2025. Crossref. http://doi.org/10.56472/25835238/IRJEMS-V4I11P120

Abstract:

This study examines the impact of public education expenditures on economic growth in Senegal from 1970 to 2023 using an Error Correction Model (ECM). The results reveal that education spending has a positive and significant effect on economic growth in both the short and long term. In the short term, a 1 percentage point increase in education expenditures leads to an immediate rise of 0.063% in GDP growth. The long-term elasticity is estimated at 0.159, indicating stronger cumulative effects over time. The error correction mechanism shows that 39.6% of any deviation from long-term equilibrium is corrected annually. Other factors such as literacy rate and investment also demonstrate positive impacts, while inflation negatively affects growth. These findings underscore the importance of education investments as a strategic lever for sustainable economic development in Senegal and provide precise quantitative guidance for educational policy formulation.

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Keywords:

Public Education Expenditures, Economic Growth, Error Correction Model, Senegal, Human Capital, Cointegration, Educational Policy.