The Role of Manpower Training in the Social Welfare of OPEC

Education is one of the most important determinants of social welfare and is recognized as one of the important goals of all countries. Providing human capital requires educational activities. Educational investment, On the one hand, enhances the capabilities of human resources and, on the other hand, prepares the labor force to make better use of new production technologies and thus paves the way for social welfare for countries. Therefore, the purpose of this study is to investigate the role of manpower training in the social welfare of OPEC member countries for the period 2018-2007 using the dynamic panel method based on generalized method of moments. The results show that there is a positive and significant relationship between social welfare and manpower training; In other words, with the increase of manpower training, social welfare also increases. Also, the results of Sargan test and Arlano-Bond correlation show that the instruments have no correlation with the disturbance factor, respectively, and the model lacks autocorrelation in the first-order error difference. The results of Toda and Yamamato causality tests show that there is a one-way relationship of human resources training index to social welfare.