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

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  • Li, Yu
  • Wei, Wei

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.

Suggested Citation

  • Li, Yu & Wei, Wei, 2024. "Evidence of the relationship between education expenditure by state and private sectors on solving resource curse in OPEC member countries," Resources Policy, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:jrpoli:v:99:y:2024:i:c:s0301420724007566
    DOI: 10.1016/j.resourpol.2024.105389
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    More about this item

    Keywords

    Resource curse; Oil rent; Education level; Private investment; OPEC;
    All these keywords.

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q34 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Natural Resources and Domestic and International Conflicts
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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