A multivariate examination of critical success factors for education finance in Somalia

Abstract

This study examines the critical factors of education finance and its impact on education finance performance via a comprehensive analysis of the Education Finance Performance Index (EFPI) in the context of Somalia. The research employs multiple regression analysis to investigate the relationships among Government Recognition and Commitment (GRC), Financial Resource Management (FRM), Governance and Accountability (GA), and Human Capital Development (HCD). The results reveal that these factors collectively account for a significant proportion of the variance in the EFPI scores, highlighting their influential roles. GRC emerges as a crucial determinant, emphasizing the pivotal role of governmental dedication in fostering an environment conducive to educational excellence. FRM and the GA also have notable impacts, highlighting the importance of efficient resource allocation and transparent decision-making. HCD underscores the value of investing in educators’ skills and motivation. The findings emphasize the need for strategic policies that prioritize government commitment, efficient financial management, transparent governance, and investment in human capital. These insights offer valuable guidance for educational policymakers and practitioners seeking to enhance educational finance practices and overall system performance. Ultimately, this study serves to bridge the gap between theoretical frameworks and practical applications, offering empirical insights within the knowledge domain.