Abstract
This paper explores the potential causal relationship between political orientation and education investment by using panel data from 21 OECD countries from 1970 to 2020 and utilizing estimators that address endogeneity (i.e. 2SLS, System GMM, and Lewbel 2SLS). In particular, using communist influence as a physical instrument for political orientation, we find a positive impact of the right political orientation on education investment, and the impact of the left orientation is negative. The positive impact from the right orientation is also stronger than the negative impact from the left. Moreover, these core results are robust to alternative measures of political orientation and education investment, alternative estimators that address endogeneity, and the moderation effect of innovation.
| Original language | English |
|---|---|
| Pages (from-to) | 489-504 |
| Number of pages | 16 |
| Journal | Business and Politics |
| Volume | 26 |
| Issue number | 4 |
| Early online date | 11 Mar 2024 |
| DOIs | |
| Publication status | Published - Dec 2024 |
Bibliographical note
© The Author(s), 2024. Published by Cambridge University Press on behalf of Vinod K. Aggarwal. Version archived for private and non-commercial use with the permission of the author/s and according to publisher conditions. For further rights please contact the publisher.Keywords
- political orientation
- education resources
- instrumental variable
- communist influence
- OECD countries
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