THE SIGNIFICANCE OF EDUCATION AND SOCIAL EXPENDITURES FOR SOCIETY DEVELOPMENT

Study has shown that variables Human Development Index, average time of education and social expenditures have mutually positive impact and also positive impact on dependent variable Gross Domestic Product per capita. It can be seen that a very significant impact on dependent variable has variable Human Development Index, while significant impact on dependent variable has an average time of education. It should be emphasized that very significant impact on Human Development Index has variable average time of education. Study has also found that in interaction of observed variables, variable Human Development Index has a positive and significant effect on dependent variable Gross Domestic Product per capita, while variables average time of education and social expenditures have negative impact on dependent variable. Variable average time of education has significant effect on dependent variable, in contrast to effect of social expenditures, that is not significant. The aim of the research show that social benefits may negatively affect the development of society and the standard of living of the population.