Investigating the Impact of Oil Dependence on Quality of Education in Oil-Rich Countries

Education quality has been a big concern of higher education systems in many countries across the globe. Empirical studies show that education expenditures rely so much on oil revenues, which has been one of the channels of decreasing the quality of education. Today, with the advent of the knowledge-based economy, the importance of quality education and the learning of scientific skills have become more important. This study investigates the effect of oil dependence on quality of education in oil-rich countries. The coefficients are estimated by panel data method using data in time period of 2017-2020 in these countries. According to the results, oil dependency has a negative and significant impact on the quality of education. Quality of education is positively and significantly associated with per capita income and population growth. And there is a positive and significant relationship between government expenditure on education and oil dependency. The quality of education and government spending on education both have a negative and significant relationship with unemployment