An important priority of public policy is to ensure that higher education institutions contribute to economic growth and social progress as a whole, especially in the context of today´s globalised markets and knowledge economy. It is crucial for any nation to have a good education system and strategic planning to improve learning outcomes, access to facilities, and efficient use of resources. This paper explained the rationale for change in funding higher education with comparison made based on previous literature in developed and developing countries.
Article first published in Asian Economic and Financial Review, V. 2, n. 4, pp. 562-576. Reprinted with permission.