Human capital, economic growth and accountability of the tertiary education institutions

Abstract

Τhe educational expenditures for creating human capital and economic growth are linked to
the Tertiary Education, while the accountability of Institutions is related to their effective administration.
Their funding is examined and the generalized application of Government Accounting is compared to the gradual simultaneous application of the Chart of Accounts for the State Law Entities by only several Institutions. The comparison shows an enormous gap in information and provides intimate understanding of a particular problem of the «Economics of Education», but also
affects the optimal use of funding towards the Tertiary Education. For the economic and accounting independence of Institutions, the author proposes the improved and generalized application of the Chart of Accounts (comparable information, improved decision making), as a step towards harmonization with the New Public Management (NPM).

JEL Classifications: A22, M41