Bebenina, E.V., Elkina, I.M. Global tendencies of education financing for countries with different natural resources supply // The European Proceedings of Social & Behavioural Sciences (EpSBS),2018. https://dx.doi.org/10.15405/epsbs.2019.02.02.3
Fundamental approaches to financing the education sector depend on economic and political management models applied in countries. Economic conditions have a significant impact on the education system. The public sector of education gradually changes according to the principle of self-sufficiency. At the same time, the development of a market economy, taking into account the tendencies of the formation of a post- industrial society, leads to an increase in the need for education and, above all, in higher education in the areas of high technology. Both education and science require significant investment, not providing a quick return. This part of the budget is costly and accounts for a fairly large share of GDP. How do countries with different supply of natural resources come out of this difficult situation? What trends can be traced in the financing of education? The objective of the paper is a retrospective analysis of the financing of education (in % of GDP) in the countries of the world, depending on what proportion of GDP is made up of natural resources. In authors’ opinion, it determines a strategy of long-term investments in human resources with varying degree of availability of natural resources. The authors use comparative analysis of data from open sources of the World Bank. Presenting free access to statistical information about development indicators around the world, the World Bank makes it possible to conduct such retrospective studies.