IMPACT OF GOVERNMENT EDUCATION EXPENDITURE ON ECONOMIC GROWTH OF NIGERIA. (1986-2012)
ABSTRACT
This study examine 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 in all level. This is a projection that if achieved, will help in
achieving the macro economic objective of economic growth
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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
1.1 Background
to the Study 1
1.2 Statement
of the Problem 6
1.3 Research
Question 7
1.4 Objective
of the Study 8
1.5 Research
hypothesis 8
1.6 Justification
for the study 9
1.7 Scope
of the Study 10
CHAPTER TWO:
LITRATURE REVIEW
2.1.0 Conceptual
Literature 11
2.1.1. Education
and Growth 11
2.1.2 Concept of Public
Expenditure 16
2.1.3. Concept of Educational Expenditure 17
2.1.4 Education and
Economic Growth 19
2.1.5 Public Education
Expenditure outcome and Economic growth 24
2.1.6 Public Education
Expenditure and Outcome 25
2.1.7 Public
Expenditure on Education and Economic growth 30
2.1.8 The Origin and
Structure of the Nigeria Education system 33
2.1.9 Trend of
Government Expenditure on Economic 35
2.1.10 Education
as Human Capital Formation 36
2.2 Theoretical
Framework 40
2.2.2 Muagrave Theory
of Public Expenditure and Economics 40
2.2.4 The Keynesian
Theory 41
2.2.5 The Solow’s
Theory 42
2.2.6 The Endogenous
Growth Theory 43
2.3 Review of
Empirical Findings 48
CHAPTER THREE: METHODOLOGY
3.1 Introduction 51
3.2 Model
Specification 54
3.3 Identification
of Variables 54
3.4 Apriori
Expectation 55
3.5 Estimation
Techniques 56
3.6 Sources of Data 58
CHAPTER FOUR: RESULT
AND DISCUSSION
4.1 Introduction 59
4.2 Result
Presentation 59
4.3 Interpretation
of Result 59
4.4 Discussion of
Findings 62
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary 66
5.2 Conclusion 67
5.3 Recommendation 69
References 70
Appendix 74
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