Abstract:

In Classical Approach, human capital have kept out factors of production, Neoclassical Approach concerned with quantitative aspect of growth. In time,These deficiencies was insufficient to explain the growth. These deficiencies has been corrected by the endogenous growth approach which achieved an important relationship between human capital and the growth. Education is considered as determinant of human capital. Hence countries are sensitive about education, counties are financed an important part of education expenditures.For this purpose,for 10 OECD countries, the relationship between public education expenditures and economic growth have been analyzed by the method of Panel Data.In the analysis, dependent variable is GDP per capita, public expenditures on education and fixed capital investment was used as a control variable. As a result of analysis it has been obtained a positive impact on growth in spending on education

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