Value for Money in School Education
Smart Investments, Quality Outcomes, Equal Opportunities
Policymaking has always been a matter of making choices, managing trade-offs and balancing
multiple goals and priorities to make complex budgetary decisions. Yet, the past few
years have seen a rising number of priorities facing policymakers, hence mounting
pressure to enhance the efficiency of public spending. There is a strong case for
public investment in high-quality education as it leads to a range of economic outcomes
as well as broader social outcomes for both individuals and society. But while high-quality
education will continue to enable individuals and societies to thrive and recover
from disruptions, education ministries will need to rethink the way they invest in
education to ensure that education systems deliver greater value for money. Following
an introduction laying out the context, this publication first takes stock of the
wealth of economic returns and broader social outcomes derived from high-quality education,
making the case for continued public investment. It then turns to the examination
of smart ways of investing in education and examines key policy levers that can help
enhance value for money: governing and distributing school funding to make the most
of education investments; achieving educational equity alongside greater efficiency;
and planning, monitoring and evaluating the efficient use of school funding.
Published on November 29, 2022Also available in: French