From: An empirical inquiry into the determinants of public education spending in Europe

SUR estimates for the model specifications: | Extended & GDP per capita | Extended & GDP per capita | Extended & GDP per capita | Extended & GDP per capita |
---|---|---|---|---|

Specification | (4.i) | (4.ii) | (7.i) | (7.ii) |

Δlog (spending per student, FTE, at ISCED 0–1) [eq1] | ||||

Δlog (ULC) | 0.95*** | 0.88*** | 0.96*** | 0.88*** |

(4.61) | (3.93) | (4.65) | (3.94) | |

Δlog (real GDP per capita) | 0.55*** | 0.90*** | 0.56*** | 0.92*** |

(2.83) | (3.32) | (2.87) | (3.37) | |

Δlog (pupil/teacher ratio) (−1) | −0.11 | −0.09 | −0.02 | −0.03 |

(−0.82) | (−0.66) | (−0.16) | (−0.27) | |

Δlog (share of capital expenditure) (−1) | 0.05 | 0.05 | 0.05 | 0.05 |

(1.67) | (1.59) | (1.74) | (1.62) | |

Δlog (share of teachers’ wages expenditure) (−1) | 0.53*** | 0.36* | 0.44** | 0.31 |

(2.64) | (1.83) | (2.25) | (1.62) | |

Constant | 8.16** | 2.78 | 8.03** | 2.90 |

(2.53) | (0.75) | (2.49) | (0.78) | |

Δlog (spending per student, FTE, at ISCED 2–4) [eq2] | ||||

Δlog (ULC) | 0.47** | 0.42* | 0.48** | 0.43* |

(2.15) | (1.74) | (2.17) | (1.74) | |

Δlog (real GDP per capita) | 0.49** | 0.82*** | 0.49** | 0.83*** |

(2.38) | (2.76) | (2.40) | (2.78) | |

Δlog (pupil/teacher ratio) (−1) | −0.36** | −0.26** | −0.31** | −0.23* |

(−2.54) | (−1.78) | (−2.23) | (−1.65) | |

Δlog (share of capital expenditure) (−1) | 0.04 | 0.01 | 0.04 | 0.01 |

(1.07) | (0.35) | (1.08) | (0.35) | |

Δlog (share of teachers’ wages expenditure) (−1) | 0.54** | 0.44** | 0.49** | 0.43** |

(2.51) | (2.08) | (2.31) | (1.99) | |

Constant | 7.11** | −0.89 | 7.04** | −0.84 |

(2.08) | (−0.22) | (2.06) | (−0.21) | |

Δlog (spending per student, FTE, at ISCED 5–6) [eq3] | ||||

Δlog (ULC) | 0.86*** | 0.77*** | 0.86*** | 0.77*** |

(3.81) | (3.15) | (3.81) | (3.15) | |

Δlog (real GDP per capita) | 0.45** | 0.72** | 0.45** | 0.72** |

(2.12) | (2.46) | (2.12) | (2.46) | |

Δlog (share of capital expenditure) (−1) | 0.06 | 0.04 | 0.06 | 0.04 |

(1.60) | (1.22) | (1.60) | (1.22) | |

Δlog (share of teachers’ wages expenditure) (−1) | 0.53** | 0.53** | 0.54** | 0.53** |

(2.42) | (2.48) | (2.47) | (2.48) | |

Constant | 1.59 | −0.45 | 1.59 | −0.45 |

(0.45) | (−0.11) | (0.45) | (−0.11) | |

Δlog (general govt. spending per capita) [eq4] | ||||

Δlog (ULC) | 0.69*** | 0.53*** | ||

(6.30) | (4.67) | |||

Δlog (real GDP per capita) | 0.43*** | 0.71*** | ||

(4.25) | (5.24) | |||

Constant | 2.92* | 3.96** | ||

(1.70) | (2.08) | |||

Observations | 206 | 206 | 206 | 206 |

R
^{2} [eq1]
| 0.28 | 0.31 | 0.27 | 0.31 |

R
^{2} [eq2]
| 0.24 | 0.22 | 0.24 | 0.22 |

R
^{2} [eq3]
| 0.18 | 0.22 | 0.18 | 0.22 |

R
^{2} [eq4]
| 0.29 | 0.37 | ||

AIC
| 4567.29 | 4564.37 | 5799.84 | 5779.91 |

BIC
| 4723.70 | 4730.77 | 5999.51 | 5992.89 |

Country dummies for selected countries
| Yes | - | Yes | - |

Joint Wald-type test for dummies (at 5%) | eq2 | eq2 | ||

Year dummies
| - | Yes | - | Yes |

Joint Wald-type test for dummies (at 5%) | eq1 | eq1 | ||

Breusch-Pagan test of independence stat. (p-val.) | 22.11 (0.00) | 19.49 (0.00) | 38.15 (0.00) | 30.34 (0.00) |