0704-883-0675     |      dataprojectng@gmail.com

PUBLIC EDUCATION EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA: 1970 - 2010

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 3000

ABSTRACT

Theoretical and empirical evidences support the prime role of public education expenditure in rapid and persistent economic growth. However, available statistics in Nigeria does not seem to support this view. An average of 5.72 per cent of public expenditure was spent on education between 1970 and 2010. During the same period, economic growth was not only inconsistent, but averaged 0.6 per cent. Public education expenditure, no doubt promotes educational attainment which could be regarded as a proximate target. It could also have a direct effect on economic growth through the multiplier effect of government spending. These relationships are seldom captured by empirical studies especially those based on Nigerian data. Also issues such as endogeneity problem associated with growth empirics are often overlooked. This is evident in the specification of empirical models and consequently the lack of consensus in the results obtained. In a nutshell, the channel through which public education expenditure affects economic growth is not yet well understood. This study examines the direct and indirect effects of both public recurrent and capital expenditure on education and economic growth in Nigeria from 1970 to 2010.The Instrumental Variable Two Stage Least Squares (IV2SLS) estimation technique which ensures both unbiased and consistent coefficient estimates is employed. The result reveals that public education expenditure has both direct and indirect effects on economic growth. The indirect channel has been more relevant for economic growth in Nigeria. Thus, total public education expenditure can promote economic growth without necessarily first improving education attainment.. The study also reveals that public recurrent education expenditure (pree) and public capital education expenditure (pcee) have different effects on economic growth. The regression results suggest that capital expenditure has greater effect on education (proxied by secondary school education) while recurrent expenditure has greater effect on economic growth. However, to maximize the benefits from public education expenditure, strategies that ensure greater efficiency of public education expenditure were suggested.




FIND OTHER RELATED TOPICS


Related Project Materials

EFFECTS OF MASS MEDIA ON YORUBA CULTURE AND TRADITION

ABSTRACT

This study probes the effects which mass media has on the cultural values and tradition of the...

Read more
THE IMPACT OF INVESTMENT IN EMERGING MARKETS ON PORTFOLIO GROWTH

ABSTRACT

THE IMPACT OF INVESTMENT IN EMERGING MARKETS ON PORTFOLIO GROWTH

This research explores the impact of investment in em...

Read more
CHARACTERIZATION OF staphylococcus aureus ISOLATED FROM DOOR HANDLES

Background of study

A problem for world health has been the spread of infectious diseases by hand conta...

Read more
BACTERIOLOGICAL STUDY OF SACHET WATER SOLD IN OWERRI METROPOLIS

ABSTRACT

Water is one of the indispensable resources for the continued existence of all living things including man. The...

Read more
POSSIBLE TELECONNECTION BETWEEN THE INDIAN OCEAN DIPOLE (IOD) AND RAINFALL DISTRIBUTION OVER NIGERIA

ABSTRACT

The El Nino Southern Oscillation (ENSO) has some level of control over the weather of Nigeria and Africa seasonally but there ha...

Read more
A SURVEY OF TEACHERS’ AWARENESS AND USE OF ASSISTIVE TECHNOLOGY IN TEACHING CHILDREN WITH SPECIAL NEEDS IN NORTH CENTRAL NIGERIA

Abstract

The purpose of the study was to find out teachers’ awareness and use of assistive technology in teaching children with spe...

Read more
THE CHALLENGES OF ACCOUNTING FOR FINANCIAL INSTRUMENTS IN PUBLIC ACCOUNTING

THE CHALLENGES OF ACCOUNTING FOR FINANCIAL INSTRUMENTS IN PUBLIC ACCOUNTING

The study's objectives are to: 1) Identify the challenges...

Read more
EFFECTIVE USE OF TEACHING METHODS AS A CORRELATES OF STUDENTS PERFORMANCE IN ENGLISH LANGUAGE IN SECONDARY

Background of the study

Education is a beacon that illuminates the path that humanity should take in order to reach its...

Read more
ETUDE COMPARATIVE DES MOUVEMENTS SYNTAGMATIQUES EN FRANÇAIS ET EN FULFULDE

RESUME

Le fulfulde est une langue parlée dans presque toute l‟Afrique dans des pays de l‟ouest comme le Mali, le Séné...

Read more
THE DEVELOPMENT OF ISLAMIC EDUCATION IN THE ERA OF PROPHET MUHAMMAD

ABSTRACT

This study was carried out to examine the development of Islamic education in the era of proph...

Read more
Share this page with your friends




whatsapp