• Denis Ushakov Suan Sunandha Rajabhat University, Bangkok
  • Yingsak Vanpetch Suan Sunandha Rajabhat University, Bangkok
Keywords: education, government spending, budget, economic growth, economic structure, global economy


Global economic transformations, rapid growth of international competition indentified an objective need to identify new sources of economic growth, non-related with natural resource potential exploiting. The paper assesses effectiveness of governmental education funding, based on the authors’ methodology a correlation between dynamics of Government expenditures on education and main macroeconomic indices in the period 2001-2014.

Author Biographies

Denis Ushakov, Suan Sunandha Rajabhat University, Bangkok

Doctor of economy (macroeconomic) from Russia’ Academy of entrepreneurship, Moscow, Russia (since 2009), academic title of Professor (Russia) and Assistant Professor (Thailand).

He works now in International College Suan Sunandha Rajabhat University, Bangkok, Thailand, is a Member of Russian Academy of Natural Science, International Association of organizational innovations. His scientific interests include economy of tourism: theory of tourism market's function, modern trends of development, corporative management; multinational corporation in service's production: organization, strategic management, global competitive resources; government regulation of the service's market; innovative modernization in economical Government's regulation, production's organization.

He published more than 60 research papers in federal Russian scientific magazines; 55 research papers in International journals; participated in 42 scientific conferences; prepared 10 training manuals for students of the service professions.

Yingsak Vanpetch, Suan Sunandha Rajabhat University, Bangkok

Doctor of business administration, head of international business program in International College Suan Sunandha Rajabhat University, Bangkok, Thailand.

His scientific interests include business education, international migration and global labor markets patterns, international marketing and strategic management.

He published more than 10 research papers;  participated in 12 scientific conferences


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How to Cite
Ushakov, D., & Vanpetch, Y. (2017). EDUCATION FUNDING AS A SOURCE OF ECONOMIC GROWTH: GUIDELINES FOR GOVERNANCE REFORMING. The EUrASEANs: Journal on Global Socio-Economic Dynamics, (5(6), 93-102. Retrieved from