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An ARDL Approach to Investigating the Link between Education Spending and Economic Growth in Egypt. |
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PP: 2735-2745 |
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doi:10.18576/isl/120824
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Author(s) |
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Mervat A. El-Dib,
Rania R. Moawad,
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Abstract |
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| In this paper, we explore the correlation between public spending on education and economic growth in Egypt. The paper seeks to shift the narrative surrounding education from a service to an investment. The study employs the Autoregressive Distributed Lag (ARDL) co-integration technique using time series data from 1996 to 2022. The findings support previous research indicating a positive and significant long-term relationship between education spending and GDP growth at a 5% significance level. While the short-term relationship is negative, the highly significant negative error correction term (ECT) suggests that the whole model adjusts toward long-run equilibrium at a speed of 48%. The study concludes with recommendations for the variables examined and considers the broader context.
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