Organization for economic co-operation and development: Investing in higher education

Subject. This article discusses the issues of increasing labor productivity, reducing social inequality, and the availability of higher education. Objectives. The article aims to find ways to improve effective financial policy in the field of education. Methods. For the study, I used a statistical analysis. Results. The article finds that within the framework of the Organization for Economic Co-operation and Development, expenditures per student in higher education are 1.5 times higher than in secondary education. Public spending on education is growing more slowly than overall government spending. Funding for higher education is centralized. The ratio between public and private spending on educational institutions at all levels has generally remained relatively stable over time. Conclusions. The results of the study can be used when developing programmes of financial support for the education system in Russia.