Received: 2019-08-17  |  Accepted: 2019-11-27  |  Published: 2019-12-15

Title

The role of spending on education and science in sustainable development


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.


Keywords

education, science, spending, sustainable development, ARDL


JEL classifications

I22 , I25


URI

http://jssidoi.org/jesi/article/466


DOI


Pages

1704-1727


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Humbatova, Sugra Ingilab
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Baku Engineering University, Baku, Azerbaijan http://www.beu.edu.az
Articles by this author in: CrossRef |  Google Scholar

Hajiyev, Natig Gadim-Oglu
Azerbaijan State University of Economics, Baku, Azerbaijan http://unec.edu.az
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

7


Number

2


Issue date

December 2019


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 1344  |  PDF downloads: 612

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