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This paper aims to explore whether there is a “low financing trap” that results in underfunding of education systems in low and lower middle income countries (LICs and LMICs). It shows public investment in education has not increased over the last two decades despite extensive advocacy and has equilibrated at about 4% of GDP. More than 6% of GDP is needed to achieve the sustainable development goals.

This research uses large scale data from the UNESCO Institute of Statistics and the World Bank to analyse patterns of investment across sub-Saharan Africa. The most recent data downloaded in 2022 are used for each country. The analysis uses time series analysis to show how flows of resources for education have evolved and illustrates the limits to growth.

The research develops a taxonomy of countries and identifies three bands of effort for investment in education. Individual countries tend to remain in the same band of expenditure level and only the highest band countries are likely to be able to finance their development goals from their own resources between now and 2030. Escape from the low financing trap is critical for future educational development.

Innovative approaches to external assistance are needed which recognise that domestic revenues are at the heart of sustainable financing and that greater efficiency and effectiveness are critical to sustainable solutions. The priority is to accelerate the development of fiscal states, which can finance public goods from domestic revenue and make good use of concessionary assistance.

The purpose of this chapter is to highlight the dichotomous nature of two World Bank educational goals and examine how enrollment growth became prioritized over quality in Tanzania. Nestled within the theoretical framework of developmental discourse, the chapter begins with a historical review of World Bank educational policy, exploring Tanzania's lending relationship with the Bank. The chapter next evaluates the new World Bank 2020 educational strategy using the Tanzanian context to draw attention to policy strengths and weaknesses. Finally, using current research regarding World Bank policy in Tanzania, this chapter explores the implications of the new strategy on the next installment of Tanzania's SEDP policy. By locating the intersections of these policies, one may gauge a better understanding as to why the past trend of flooding Tanzania's classrooms with students has had the effect of eroding educational quality.

The aim of the chapter is to develop some approaches to turn education, predetermining the quality of human capital, into the most important factor of national inclusive development. This problem is titled by the World Bank Report (2018) as “Learning: to realize education’s promise.” There has been revealed a fundamental contradiction between the two processes: the training technology is improved, the treasury of knowledge is enriched, the scientific progress accelerates, on one side, but on the other side, according to the international Program for International Student Assessment (PISA) study (2015), about 28% of the Russian 15-year-olds, for example, did not master the minimum necessary skills in at least one area of the three (natural science, mathematics, and communication in their native language). Meanwhile the correlation between educational and economic “failures” is high. Reduction in school failure in half (up to 15%) corresponds to the growth of the country’s GDP by 2% at the perspective of 10 years, by 5–6% – in 20 years, and by over 10% – in 30 years. The authors identify and substantiate the most important factor of the low basic knowledge of schoolchildren: it deals with the phenomenon of stable psychological and cognitive barriers in their minds. As a result of this theory, a model of educational consciousness has been developed, which makes it possible to overcome educational failure and to form algorithms for successful learning.

This paper constitutes a major attempt at examining financial flows within the educational system in Swaziland as well as in computing the households, relative to public contribution to unit costs in education. It found that financial resources to the education system derive from the traditional sources, that is, government, local communities and households, non‐governmental organizations, private enterprises and corporations as well as foreign aid. While the government contributes about 83 per cent of the total fund in the tertiary level, the household and families contribution is higher at the primary, secondary and high school levels. This is an indication of the fact that higher education is heavily subsidized by the government at the expense of basic education, bringing about inequality of educational opportunities within the education system. To redress the imbalance in the funding mechanism, cost‐sharing or cost recovery measures are being proposed at the higher education level.

The international literature on the inclusion of pupils with special educational needs has been wide‐ranging, focusing mainly on curriculum and assessment, and social inclusion. The issue of funding has been mainly confined to discussions about the size of budget needed to support the resource needs of inclusion (e.g. the costs of additional teachers, support assistants or transport). Less attention has been given to the actual structure of the budget for special education. There has been greater interest in the strategic management of budgets and in the interaction of funding mechanisms at the national, local and institutional levels. This article discusses the effect of resourcing mechanisms for special education and draws on a study across Europe, and other studies based in The Netherlands, the USA and the UK. The strategic behaviours generated by different approaches are considered and the degree to which any particular strategy can influence the inclusion of pupils with special educational needs is assessed.

Purpose – This empirical paper seeks to explore how the shift from traditional budgetary accounting toward accrual accounting declared by the Russian state has affected accounting practices of one public university.

Design/methodology/approach – The empirical data for this research are based on a case study conducted in one state-sponsored university of Russian tertiary education. Our approach is to look at the emergence and implementation of new accounting practices and technologies at the university within the context of broader public sector policy changes occurring in Russia.

Findings – The present study demonstrates that changes at state level have had their initial and most direct impact on formal rules at the university, but little or no impact on its everyday management activity. We claim that the intended changes have so far resulted in more rhetoric than reality, and the changes envisaged have yet to be implemented in university practice.

Research limitations/implications – Since the time frame devoted to this research does not allow the assessment of the final results of the declared reforms, this paper approaches new accounting techniques before they become an established practice at the university. It is also beyond the scope of this research to judge whether these results are applicable to other settings, such as other Russian higher educational establishments.

Practical implications – The paper raises concerns as to whether the old compliance mentality of the Russian state will bring about the desired reform outcome.

Originality/value – This paper provides insights into the nature of Russian public sector accounting change, both at central level and in a specific organizational setting.

Malaysia is one of the fastest-growing Asian economies with a properly designed and developed Islamic financial system. This unique feature of the Malaysian economy made it an important case study, and the purpose of this study is to assess for the dynamic contribution of Islamic finance to the growth of the real economy.

The study uses a quarterly data set of 20 years analysed via the autoregressive distributive lag bounds test approach to cointegration.

The results in the short-run show a non-significant relationship between Islamic banking indices and the real economy. However, in the long-run, financing and deposits of Islamic banks are favourable and contribute significantly to the growth of the Malaysian economy. There was an accumulation of meaningful and wide-ranging investment over the period of the study and productivity of capital was also extra-efficient. The direction of causality is found to be bidirectional between Islamic banking deposits and Malaysian gross domestic product (GDP), but there is a weak causal effect from Islamic banking financing to GDP.

Malaysia has a dual financial system (conventional and Islamic) and both can affect its real economy. This research is limited to Islamic banking’s effects on Malaysian economic growth. The research also limits the scope and coverage for 20 years, from 1998 to 2017 to cover the years for which data is available for all the variables used in the study.

The results confirm that the Islamic banking sector in Malaysia is performing well in carrying out its major function of financial intermediation, which is the pooling and channelling of funds to productive investment activities. Consequently, the fact that Malaysia excels in Islamic finance is not a fluke. It is because of the effective performance of Islamic financial institutions in the country. Furthermore, Malaysian authorities are doing their level best in promoting Islamic financial activities.

The study fulfills the need to uncover the relationship between the Islamic financial system and the real economy in Malaysia. It differs from other studies as it uses the most recent available data, introduces new variables and identifies the channel by which Islamic banking development transmits growth.

This study examines social reporting by Islamic banks with special emphasis on themes related to social justice. By using critical theory and “immanent critique”, the study attempts to explain and delineate reasons for disclosures and silences in Islamic banks ' annual reports and web sites vis-à-vis social justice.

The approach taken was a content analysis of annual reports and web sites of 19 Islamic banks.

Islamic banks ' disclosures emphasise their religious character through claims that they adhere to Sharia ' s teachings. Their disclosures, however, lack specific or detailed information regarding schemes or initiatives vis-à-vis poverty eradication or enhancing social justice.

Limitations associated with content analysis of annual reports and internet web sites apply. This study focuses on Islamic banks ' social roles. Further studies of banks ' social roles in society in general are of interest.

Drawing attention of Islamic banks and other stakeholders to the gap between the rhetorical religious and ethical claims of Islamic banks and their activities (as depicted through their disclosures) opens up the possibility of a positive change in Islamic banks ' actual social roles.

The study fills a gap in both social accounting and Islamic accounting literatures with its emphasis on social justice and poverty eradication. The study contributes to the very scarce literature linking religion (especially Islam), critical theory, social accounting and Islamic accounting. It goes beyond previous research in Islamic accounting literature by exposing contradictions in the Islamic banking industry ' s rhetoric regarding their social role in society.

The purpose of this paper is to explore the connections between state education finance distribution models and student achievement. To date, lawsuits challenging the constitutionality of state finance systems have been heard in 45 states; the judicial interpretation of the requirement to provide equality of educational opportunity has led to changes in finance distribution models as well as the implementation of accountability policy.

The study included district level finance and achievement data from five states. Researchers reviewed the relevant judicial interpretation of the finance system, the accountability policy, and the finance distribution system. Next, researchers calculated the equity of both the finance distribution model and measures of student achievement. Finally, an equity ratio was developed and calculated to discern the degree to which state distribution models resulted in equitable measures of student achievement.

Findings reveal that no state has both an equitable system of finance and equitable measures of student achievement. The way that states define proficiency significantly impacts the percentage of students that reach proficiency. This impacts the provision of equality of opportunity.

Traditionally, the measurement of equity has only been applied to finance distribution systems. The authors of this paper have applied these concepts to measures of student achievement and aligned the two concepts with the equity ratio. Since states are charged with providing sufficient resources to enable students to reach proficiency, an understanding of the interaction between resources and achievement is a critical tool in analyzing the provision of equal opportunity.