IMPACT OF GOVERNMENT EDUCATIONAL EXPENDITURE ON ECONOMIC GROWTH 1986 – 2012.

IMPACT OF GOVERNMENT EDUCATIONAL EXPENDITURE ON ECONOMIC GROWTH 1986 – 2014

ABSTRACT

This study examines the impact of government education expenditure on economic growth in Nigeria from (1986- 2012). The ordinary least square method of econometric analysis which ensure both unbiased and consistent estimates is employed. The result reveals that government education expenditure has significant impact on economic growth. The study also show that Human Capital Development does not have significant impact on economic growth. The study also show that literacy rate has significant impact on Economic Growth. To further enhance the potentials of the Nigeria economy toward economic growth, the study recommends that the government should increase it expenditure on education at all levels. This is a projection that if achieved, will help in achieving the macro economic stability via economic growth

TABLE OF CONTENTS

Cover Page                                                                                                    i

Title page                                                                                                       ii

Approval page                                                                                              iii

Certification                                                                                                  iv

Dedication                                                                                                     iv

Acknowledgements                                                                                     vi

Table of contents                                                                                         ix

Abstract                                                                                                         xii

CHAPTER ONE: INTRODUCTION

Background to the Study                                                                            1

Statement of the Problem                                                                            7

Objective of the Study                                                                                8

Research Question                                                                                       9

Research hypothesis                                                                                    9

Significant of the study                                                                               10

Scope of the Study                                                                                       11

 

 

 

CHAPTER TWO: LITRATURE REVIEW

Conceptual Literature                                                                                 13

Some background on Education and Growth                                          13

Education as Human Capital Formation                                                   17

Theoretical Framework                                                                               20

Muagrave Theory of Public Expenditure and Economics                     20

The Wagner’s law / theory of increase state activities                          20

The Keynesian Theory                                                                                21

The Solow’s Theory                                                                                    22

The Endogenous Growth Theory                                                               22

Review of Empirical Findings                                                                    26

CHAPTER THREE: METHODOLOGY

Introduction                                                                                                  31

Model Specification                                                                                    31

Identification of Variables                                                                                     31

Apriori Expectation                                                                                                 32

Estimation Techniques                                                                                33

Sources of Data                                                                                            35

CHAPTER FOUR: RESULTS AND DISCUSSION

Introduction                                                                                                  36

Result Presentation                                                                                      36

Interpretation of Result                                                                               36

Discussion of Findings                                                                                38

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

Summary                                                                                                       42

Conclusion                                                                                                    43

Recommendation                                                                                         44

References                                                                                                    46

Appendix                                                                                                       54


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