Evidence of the relationship between education expenditure by state and private sectors on solving resource curse in OPEC member countries

Yu Li and Wei Wei

Resources Policy, 2024, vol. 99, issue C

Abstract: This paper explores the link between education expenditure from both public and private sectors and the alleviation of the resource curse in 11 OPEC countries from 2000 to 2020. Utilizing the PMG-ARDL estimator, the study finds that a 1% increase in state education investment results in a 0.08% short-term and a 0.17% long-term rise in oil rent. In contrast, a 1% increase in private education investment leads to a 0.10% decrease in short-term and a 0.35% decrease in long-term oil rent. The research highlights the positive effects of GDP growth, trade volume, and electricity consumption in promoting economic diversification. The findings suggest that OPEC nations should enhance private sector education investments and focus on “greening” education to foster sustainable development and economic resilience.

Keywords: Resource curse; Oil rent; Education level; Private investment; OPEC (search for similar items in EconPapers)
JEL-codes: E22 F53 I25 Q32 Q34 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:99:y:2024:i:c:s0301420724007566

DOI: 10.1016/j.resourpol.2024.105389

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