Outcome summary of the international experience in developing the financial resources of universities

Abstract

It is widely believed that economic returns of tertiary education to the public are much higher than those in other sectors of the economy. Excellence in education and research, therefore, is an important factor for the welfare of countries. To improve the well-being of their citizens, governments invested heavily in higher education. The number of higher education institutes in the world has reached 18,000, and as a result, a larger fraction of people is getting tertiary education degrees. The expansion of the university system required a corresponding increase in the funding.