The main purpose of this study was to review the rationale of higher education investment, to analyze current situation of higher education finance, and to estimate the adequate public expenditure of higher education based on GDP per capita of OECD co...
The main purpose of this study was to review the rationale of higher education investment, to analyze current situation of higher education finance, and to estimate the adequate public expenditure of higher education based on GDP per capita of OECD countries. This study found that 1) adequate public expenditure per capita of higher education was $8,920 but it's real public expenditure per capita was $10,136 in 2007. 2) total public expenditure for higher education was 23,294 billion won and real total public expenditure for higher education was 18,134 billion won in 2008. 3) the future required public expenditure for higher education in Korea was estimated 6,200 billion won in 2010. Korean Government must invest adequately on higher education matched on its' economic scale in the future. Finally, several implications were discussed concerning the adequate scale of higher education investment policy.