The last decades have witnessed a convergence of views on the importance of education for the lifelong well-being of individuals and for the quality of economic and social development in general. The significance of education is enshrined in the UN Universal Declaration of Human Rights and has been reinforced in recent strategic documents agreed at the global level, such as the UN Sustainable Development Goal 4 (SDG4), which emphasises the need to ensure inclusive, equitable and high-quality education as well as to promote lifelong learning opportunities for all. 

Yet despite the consensus on the importance of education, progress in enhancing educational achievements and implementing reforms to facilitate them remains slow, not only in developing and emerging market economies but also in many advanced economies. The COVID-19 pandemic may have dealt a further setback, with only one in six countries expected to achieve SDG4 by 2030 without additional measures. One worrying development is that government expenditure on education has remained stagnant or declined globally over the past decade. Another is that challenges such as the lack of competent teachers, high drop-out rates, the limited extent of early childhood education and care, and skill mismatches in labour markets have intensified in recent years.

To further our understanding of these issues, the Institute of Public Finance and the Faculty of Economics & Business organised the conference New developments in the economics of education in Zagreb, Croatia, on September 23, 2024. Experts analysed numerous topics and examples from their countries, exchanging knowledge, experiences, and potential solutions for educational system challenges. The conference covered a wide range of subjects, including but not limited to country experiences with educational reforms and programmes, education and labour markets, innovative approaches, job satisfaction, and educational mobility. Keynote lectures were given by Daniele Checchi from the University of Milan and Harry Anthony Patrinos from the University of Arkansas.