The simulation results suggest that education expenditure can raise economic growth.

However, to
maximize benefits from education expenditure, a sufficiently high level of physical investment is
needed, as are measures that improve the match between the pattern of educational output and
the structure of effective demand for labor. Hong-Sang Jung, Erik Thorbecke,The impact of public
education expenditure on human capital, growth, and poverty in Tanzania and Zambia: a general
equilibrium approach, Journal of Policy Modeling,Volume 25, Issue 8, 2003, Pages 701-725

Abhijeet, Chandra (2010): Does Government Expenditure on Education Promote Economic

Growth? An Econometric Analysis. Forthcoming in: Journal of Practicing Managers (2010)

Belanja Pendidikan yang memiliki pengaruh negative signifikan terhadap HDI disebabkan oleh
rendahnya output dari proses Pendidikan.