THE EFFICIENCY OF PUBLIC HIGHER EDUCATION INVESTMENT ON ECONOMIC GROWTH IN VIETNAM

Abstract

The purpose of this article is to evaluate the efficiency of public higher education investment in Vietnam’s economic growth through data reports from the Ministry of Education and Training, Ministry of Finance, the General Statistics Office, and the primary investigation of the authors. The paper focuses on an in-depth analysis of the costs of investing in higher education, such as state budget spending on higher education, the impact of budget expenditure on growth, individual investment (household) investment in public higher education, social costs for higher education public study, and average social cost for one learner. From the above analysis, the authors will present employment status and the impact of the problem on both economic growth and the average income of workers by technical expertise. Besides, the authors will compare the situation of investment in higher education and the economic growth rate of Vietnam to some countries in Southeast Asia. From there, the authors will determine the limitations of this impact process. Based on that, the authors will propose some solutions to improve the efficiency of investment in public higher education for Vietnam’s economic growth.