Empirical Relationship Between Labor Productivity And Education Expenditures: The Case Of Azerbaijan

Gunay Guliyeva (), Elnur Alakbarov and Sabina Jumazada ()
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Gunay Guliyeva: Head of the Economic Analysis Department of Economic Reforms and Communication of Republic of Azerbaijan
Sabina Jumazada: Senior Advisor, PhD Student, Economic Analysis Department of Economic Reforms and Communication of Republic of Azerbaijan

The Scientific-Analytical Journal "Economic Reforms", 2023, vol. 2023, issue 4, 7-17

Abstract: This study utilizes time-series data spanning from 1995 to 2022 to investigate the impact of wages, the share of education expenditures in GDP, and labor market participation rates on labor productivity. An autoregressive distributed lag (ARDL) model is employed to examine both short-term and long-term relationships between the variables. The model's endings indicate a negative short-term relationship between labor productivity and education spending. Furthermore, the study uncovers a statistically significant long-term relationship between the variables. Interestingly, a negative correlation persists between education expenditures and labor productivity, which serves as the primary explanatory variable in the long run. This negative relationship may stem from various factors, include.

Keywords: :Education expenditure; labor productivity; wages; GDP; Azerbaijan (search for similar items in EconPapers)
JEL-codes: C22 H52 J24 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:azr:reform:v:2023:y:2023:i:4:p:7-17

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