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The role of spending on education and science in sustainable development

Author

Listed:
  • Sugra Ingilab Humbatova

    () (Azerbaijan State University of Economics, Azerbaijan)

  • Sugra Ingilab Humbatova

    () (Baku Engineering University, Azerbaijan)

  • Natig Gadim-Oglu Hajiyev

    () (Azerbaijan State University of Economics, Azerbaijan)

Abstract

Azerbaijan is an exporter country of natural resources (oil). Since the main power of modern economy including the future economic progress is human factor, human capital, its knowledge, ability of using technology, transferring oil capital into human capital is a driving factor. That’s why researching the influence of the main indicators of education and state budget allocations for it is a topical issue. The article has researched the relationship of state budget allocation and the main indicators of education and science during 21 years (1996−2017) in the Restate of Azerbaijan. Auto Regressive Distributed Lags has been used as a research model. Besides, stationary tests of variables (Augmented Dickey Fuller, Phillips-Perron, Kwiatkowski-Phillips-Schmidt-Shin) and Pairwise Granger Causality Tests were used. Model stability was studied. Eviews_9 software program was applied for making graphics and calculations. Research has examined that there is a positive dependency between state budget allocation and the main indicators of education. We recommend that state budget allocation for science and education can be increased and used as the intended purpose.

Suggested Citation

  • Sugra Ingilab Humbatova & Sugra Ingilab Humbatova & Natig Gadim-Oglu Hajiyev, 2019. "The role of spending on education and science in sustainable development," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 1704-1727, December.
    • Handle: RePEc:ssi:jouesi:v:7:y:2019:i:2:p:1704-1727
    DOI: 10.9770/jesi.2019.7.2(63)
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    References listed on IDEAS

    as
    1. Khatai Aliyev & Orkhan Nadirov, 2016. "How Fiscal Policy Affects Non-Oil Economic Performance in Azerbaijan?," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 2(3), pages 11-29, September.
    2. Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992. "Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 159-178.
    3. Wolff, Edward N, 2001. "The Role of Education in the Postwar Productivity Convergence among OECD Countries," Industrial and Corporate Change, Oxford University Press, vol. 10(3), pages 735-759, September.
    4. Daniel Slottje, 2010. "Human Capital Measurement: Theory And Practice," Journal of Economic Surveys, Wiley Blackwell, vol. 24(2), pages 201-205, April.
    5. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    6. Jacob, Brian A. & Lefgren, Lars, 2011. "The impact of research grant funding on scientific productivity," Journal of Public Economics, Elsevier, vol. 95(9), pages 1168-1177.
    7. Peter Arbo & Paul Benneworth, 2007. "Understanding the Regional Contribution of Higher Education Institutions: A Literature Review," OECD Education Working Papers 9, OECD Publishing.
    8. Alexander Whalley & Justin Hicks, 2014. "Spending Wisely? How Resources Affect Knowledge Production In Universities," Economic Inquiry, Western Economic Association International, vol. 52(1), pages 35-55, January.
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    Citations

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    Cited by:

    1. Tong Zhang & Zaffar A. Shaikh & Alexei V. Yumashev & Monika Chłąd, 2020. "Applied Model of E-Learning in the Framework of Education for Sustainable Development," Sustainability, MDPI, Open Access Journal, vol. 12(16), pages 1-15, August.

    More about this item

    Keywords

    education; science; spending; sustainable development; ARDL;

    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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