The Relationship Between Government Expenditures on Education and Economic Growth: The Case of Azerbaijan

Shahriyar Mukhtarov, Ilkin Mammadov, Sugra Humbatova


This paper investigates the impact of government’s education expenditures, gross capital formation and total population on economic growth in Azerbaijan during 1995-2018 using the different cointegration methods, namely, ARDLBT, DOLS, and CCR. The results from cointegration methods approve presence of long-run relationship among the variables. The estimation results show that government’s expenditures on education, gross capital formation and total population have a positive and statistically significant impact on economic growth in the long-run. The paper concludes that a concerted effort should be made by policy makers to increase educational investment in order to escelate economic growth.

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Research in World Economy
ISSN 1923-3981(Print)ISSN 1923-399X(Online)


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