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E Education and the Quality of Public Finances Fabienne Ilzkovitz DG ECFIN Symposium on the future perspectives of European education and training for.

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Presentation on theme: "E Education and the Quality of Public Finances Fabienne Ilzkovitz DG ECFIN Symposium on the future perspectives of European education and training for."— Presentation transcript:

1 E Education and the Quality of Public Finances Fabienne Ilzkovitz DG ECFIN Symposium on the future perspectives of European education and training for growth, jobs and social cohesion Brussels, 19-20 June 2007

2 2 Overview 1.The quality of public finances: a multidimensional concept 2.Why is it acquiring a growing importance in the policy debate? 3.Composition, efficiency and effectiveness of public spending 4.Way forward

3 3 Overview 1.The quality of public finances: a multidimensional concept 2.Why is it acquiring a growing importance in the policy debate? 3.Efficiency and effectiveness of public spending 4.Way forward

4 4 Quality of public finances: Definition Quality of public finances refers to the conduct and organisation of budgetary policy and its potential impact on the long-term growth and adjustment capacity of the economy

5 5 Quality of Public Finances: A multidimensional concept 1.Institutional settings, including fiscal rules 2.Composition of public spending 3.Efficiency of public spending 4.Efficiency of tax revenues

6 6 Overview 1.The quality of public finances: a multidimensional concept 2.Why is it acquiring a growing importance in the policy debate? 3.Composition, efficiency and effectiveness of public spending 4.Way forward

7 7 Why is it important? Public spending and revenues account for a large share of GDP Fiscal discipline in the context of the Stability and Growth Pact (SGP) Spending on growth enhancing measures in the context of the Lisbon Strategy

8 8 Sustainability of public finances Spending pressure on public balances stemming from ageing Avoid the crowding out of growth- enhancing expenditures

9 9 Benefits from good quality education spending Education spending accounts for a large share of total public spending Improved educational achievements can contribute to : –raise productivity and facilitate adjustment in a globalised economy –increase employability and stimulate social cohesion –combine sound and sustainable public finances

10 10 Increased attention by ECOFIN Council for Quality of public finances ECOFIN Council Conclusions of 5/06/07: 1.Continue to analyse impact of institutional settings on composition, transparency and efficiency of public budgets 2.Improve data availability, in particular for education, health care and social protection and R&D by 2008 at the latest 3.Develop analysis of public expenditure efficiency and effectiveness, in particular in R&D and education 4.Exchange information on current and planned tax reforms and their impact on growth and employment

11 11 Overview 1.The quality of public finances: a multidimensional concept 2.Why is it acquiring a growing importance in the policy debate? 3.Composition, efficiency and effectiveness of public spending 4.Way forward

12 12 Composition of public spending Source: EUROSTAT, COFOG, EU-25 average

13 13 Concepts of efficiency & effectiveness InputOutputOutcome Efficiency Effectiveness Institutional and structural factors Effectiveness

14 14 Spending - PISA Source: OECD

15 15 Efficiency of public spending on education CountriesClements (2002)OECD (2007)Afonso et al. (2006) Possible efficiency gains using the same resources Austria1.36.09.5 Belgium (*Fl.)-2.05.5 Czech Republic0.96.06.8 Denmark1.74.99.3 Finland0.01.60.0 France1.35.47.2 Germany1.39.18.3 Greece0.07.08.2 Hungary0.54.710.5 Ireland0.02.27.9 Italy1.46.95.1 Netherlands1.15.13.7 Portugal5.32.26.1 Slovak Republic-5.31.8 Spain2.03.42.9 Sweden1.76.00.0 US2.48.2-

16 16 Investigating the determinants of efficiency is crucial Various determinants (institutional, structural) –In the area of education: greater autonomy of schools and education of parents Interactions between determinants No “one-size-fits all” model for efficiency improvement

17 17 Function-by-Function approach Measurement of efficiency is complex Function-by-Function approach more promising to derive concrete policy conclusions First candidates : –Growth-enhancing expenditures : R&D, education –Expenditures affected by ageing : health care

18 18 Overview 1.The quality of public finances: a multidimensional concept 2.Why is it acquiring a growing importance in the policy debate? 3.Composition, efficiency and effectiveness of public spending 4.Way forward

19 19 Way forward Improve data availability Agree on concepts and methods Integrated in the assessment of the NRPs and, in a more medium term perspective, of the SCP

20 Thank you!

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