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.
Related Project Materials
A STUDY OF FAKE NEWS IN SOCIAL MEDIA: DELTA STATE UNIVERSITY STUDENTS AS AN INVESTIGATION
Background to the Study
The term "fake news" refers to "false information that has been...
ASSESSMENT OF TOURISM CONTRIBUTIONS TO THE SOCIOECONOMIC DEVELOPMENT OF NIGERIA (A CASE STUDY OF OSUN STATE)
Background of Study
The United Nations of World Tourism Organization defines tourism as the activ...
DISTANT MARRIAGE AND FAMILY COHESION AMONG YOUNG COUPLES
Background of the study
Marriage, which incorporates the coupling of two individuals having various int...
AN EVALUATION OF FACTORS INFLUENCING COMMUNITY PARTICIPATION IN IMMUNIZATION
ABSTRACT
The study aims to assess the factors that impact community involvement in immunisation, with a...
THE IMPACT OF EFFECTIVE PLANNING AND CONTROL ON THE PURCHASING ACTIVITIES OF A MANUFACTURING COMPANY (CABUARY LTD AS A CASE STUDY)
ABSTRACT
A company will have stated objectives, but the individual manager must interpret what company officials actually say and do. For...
MARKETING RESEARCH AS A TOOL FOR INCREASED PROFITABILITY IN SERVICE INDUSTRY
ABSTRACT
This study examines marketing research as a tool for increased profitability in service indust...
EFFECT OF ADEQUATE USE OF AUDIO AND VISUAL AIDS IN THE TEACHING AND LEARNING OF SOCIAL STUDIES IN SOME SELECTED SECONDARY SCHOOLS
Background of the study
Audio and visual materials like radio, projector, chalkboard etc play a very im...
CREDIT MANAGEMENT IN THE BANKING SECTOR AND ECONOMIC GROWTH OF NIGERIA
ABSTRACT
In Nigeria, the banking sector is an important part of the financial system, the banking sector dominate the N...
AN ASSESSMENT OF THE FUNCTIONS OF SOCIAL MEDIA IN CREATING AWARENESS ABOUT DOMESTIC VIOLENCE IN NIGERIA
Background to the Study
There has been disturbing news of domestic violence in every nook and cranny of...
INFLUENCE OF SOCIAL MEDIA ON POLITICAL MARKETING IN 2015 GOVERNORSHIP ELECTION IN DELTA STATE
ABSTRACT
This study investigated the impact of social media on political marketing during the 2015 gove...
