New Approach to Evaluation of the Efficiency of Higher Education Expenditure in Regard to Quality Achieved (Evidence Fromselected Countries from Central and Eastern Europe)

Abstract

This paper examines the efficiency of higher education expenditure by a comparison between EU Member States from Central and Eastern Europe with respect to the effects related to the quality of education obtained through the application of the Data Envelopment Analysis (DEA) method. The paper introduces a new approach to measuring the outputs of higher education expenditure related to realization on the labour market and welfare. The results of the study show that, among seven CEE countries, EU Member States, only in Romania efficiency of higher education expenditure is observed, while Bulgaria shows the largest deviation from the efficiency frontier.