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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="en"><front><journal-meta><journal-id journal-id-type="publisher-id">ejebs</journal-id><journal-title-group><journal-title xml:lang="en">Eurasian Journal of Economic and Business Studies</journal-title><trans-title-group xml:lang="ru"><trans-title>Название журнала на русском</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">2789-8253</issn><issn pub-type="epub">2789-8261</issn><publisher><publisher-name>University of International Business named after K. Sagadiyev LLP</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.47703/2789-8253-2026-1-119-136</article-id><article-id custom-type="elpub" pub-id-type="custom">ejebs-238</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>Статьи</subject></subj-group></article-categories><title-group><article-title>Secondary Education Financing in Kazakhstan: Challenges and Efficiency</article-title><trans-title-group xml:lang="ru"><trans-title></trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-7345-6648</contrib-id><name-alternatives><name name-style="western" xml:lang="en"><surname>Daurbaeva</surname><given-names>Marzhan U.</given-names></name></name-alternatives><bio xml:lang="en"><p>Cand. Sc. (Econ.), Senior Lecturer </p><p>Shymkent </p></bio><email xlink:type="simple">daurbaeva71@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-7363-8214</contrib-id><name-alternatives><name name-style="western" xml:lang="en"><surname>Zhussipova</surname><given-names>Elmira E.</given-names></name></name-alternatives><bio xml:lang="en"><p>PhD, Associate Professor </p><p>Shymkent </p></bio><email xlink:type="simple">elmira_zhusipova@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0009-0004-4000-7837</contrib-id><name-alternatives><name name-style="western" xml:lang="en"><surname>Dossaliyeva</surname><given-names>Asem A.</given-names></name></name-alternatives><bio xml:lang="en"><p>PhD student </p><p>Shymkent </p></bio><email xlink:type="simple">asem.0702@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0009-0003-7703-0064</contrib-id><name-alternatives><name name-style="western" xml:lang="en"><surname>Ubaeva</surname><given-names>Sultanpatsha S.</given-names></name></name-alternatives><bio xml:lang="en"><p>PhD in Economics, Associate Professor </p><p>Tashkent </p></bio><email xlink:type="simple">sultanpassaubaeva@gmail.com</email><xref ref-type="aff" rid="aff-2"/></contrib></contrib-group><aff xml:lang="en" id="aff-1"><institution>M. Auezov South Kazakhstan University</institution><country>Kazakhstan</country></aff><aff xml:lang="en" id="aff-2"><institution>Joint Belarusian-Uzbek Intersectoral Institute of Applied and Technical Qualifications</institution><country>Uzbekistan</country></aff><pub-date pub-type="collection"><year>2026</year></pub-date><pub-date pub-type="epub"><day>02</day><month>04</month><year>2026</year></pub-date><volume>70</volume><issue>1</issue><issue-title>Eurasian Journal of Economic and Business Studies</issue-title><fpage>119</fpage><lpage>136</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Daurbaeva M.U., Zhussipova E.E., Dossaliyeva A.A., Ubaeva S.S., 2026</copyright-statement><copyright-year>2026</copyright-year><copyright-holder xml:lang="ru">Daurbaeva M.U., Zhussipova E.E., Dossaliyeva A.A., Ubaeva S.S.</copyright-holder><copyright-holder xml:lang="en">Daurbaeva M.U., Zhussipova E.E., Dossaliyeva A.A., Ubaeva S.S.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://ejebs.uib.kz/jour/article/view/238">https://ejebs.uib.kz/jour/article/view/238</self-uri><abstract><p>In the context of the transition to a knowledge economy and the increasing demands on the quality of human capital, the effectiveness of financing secondary education is becoming particularly relevant. The aim of the study is to assess the impact of financing mechanisms for secondary education on the quality of educational outcomes in Kazakhstan, considering infrastructural, human, and digital factors. The methodological basis of the research includes methods of descriptive statistics, correlation analysis, econometric modeling, and performance analysis. The empirical database is based on panel data for 17 regions of Kazakhstan for the period 2015–2025. The results of the study revealed a stable positive relationship between financing and the quality of education. Digitalization (β = 3.45) and infrastructure (β = 2.63) had the greatest impact, whereas the impact of financial expenses was more moderate (β = 1.92). The burden on teachers has a statistically significant negative impact (β = −1.08). The high coefficient of determination (R2 = 0.84) confirms the model’s significant explanatory power. The results of the DEA analysis demonstrate pronounced regional differentiation in efficiency, with Almaty (0.92) and Astana (0.90) occupying the leading positions, while the southern and western regions exhibit lower efficiency. The results show that financing is a necessary but insufficient condition for improving the quality of education. The research contributes to the development of the theory of educational financing by demonstrating the need to transition to an integrated resource management model focused on the effectiveness and quality of educational outcomes.</p></abstract><kwd-group xml:lang="en"><kwd>Education</kwd><kwd>education quality</kwd><kwd>secondary education</kwd><kwd>education economics</kwd><kwd>human capital</kwd><kwd>region</kwd><kwd>regional development</kwd><kwd>economic efficiency</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Afonso, A. 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