Finance, Research, Education and Growth

Paganetto, Luigi; Phelps, Edmund S.

doi:10.1057/9781403920232

Cited by 2 publications

(1 citation statement)

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“…Additionally, education is key to the actualisation of sustainable development directly and indirectly in developing countries (The United Nation2018). Furthermore, the competitiveness and trade relationships among countries are enhanced through increased and improved productivity due to investment in education (Paganetto and Scandizzo, 2003). These benefits have made investment in education a global policy thrust and a potent lubricant on the wheel of sustainable development vehicles, hence its inclusion in sustainable development goal number 4.…”

Section: Introductionmentioning

confidence: 99%

Education Expenditure-Led Growth: Evidence from Nigeria (1980-2018)

Lawanson¹,

Umar²

2020

IBR

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This study examines the belief that education fosters economic growth by analyzing the impact of Government education expenditures at different levels on economic growth using Nigerian data for the period 1980-2018. Time series econometrics tests like Unit Root, cointegration, Error Correction Model and Granger Causality were employed to test the hypothesis of education expenditure-led growth strategy. The outcomes of the studies showed that that there is cointegration between total government education expenditures, primary, secondary and tertiary education expenditure and economic growth. The outcomes of the study also revealed that all levels of education expenditure contribute to economic growth positively (tertiary education exerting more positive impact) and are statistically significant (except primary education expenditure that is not significant) at 5%level. The study equally revealed bi-directional causality between t all levels public expenditure on education and economic growth. The study therefore, recommends improved funding for education at all levels given their interconnections. It also recommends that funding of primary education should by supported Federal Government as weak primary school funding will impact on quality of pupils that graduate to secondary school. Again policies aimed at diversifying and broadening the Nigerian economy be rekindled as economic growth have the potential of increasing education spending.

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Section: Introductionmentioning

confidence: 99%