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Social Investment and Sustainable Economic Development

Akinyele Akinwumi Idowu*, Rebecca Folake Bank-Ola and Nureni Adekunle Lawal
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Akinyele Akinwumi Idowu*: Department of Economics, Adeleke University Ede, Osun State, Nigeria
Rebecca Folake Bank-Ola: Department of Economics, Adeleke University Ede, Osun State, Nigeria
Nureni Adekunle Lawal: Department of Management and Accounting, Ladoke Akintola University of Technology Ogbomosho, Nigeria

Business, Management and Economics Research, 2018, vol. 4, issue 6, 66-74

Abstract: Incidence of poverty, budget cuts and under development in Nigeria calls for a rethink on the economic planning and social policies if we really want to see sustainable economic development. This is informed by the increasing widening gap that has developed overtime between the rich and the poor, and between rural areas and urban areas. It seems that government’s provisions are either not enough or failing, this study will want to take a deep look into the system and provide an alternative way out to ensure and foster cooperation and sustainable economic development in Nigeria. To do these, the study evaluates the impact of rural road constructions; unemployment and school enrolment on Poverty Index and Gross Domestic Product. Secondary data was collected from reliable and authentic sources and these were analyzed by multivariate regression. The result obtained show that Expenditure on Rural Roads (ERC) (? = -4.177, t-statistic = -1.257; P>0.05), Unemployment Rate (UR) (? = -0.018, t-statistic = -0.035; P>0.05) and School Enrolment (SE) (? = 0.086; t-statistic = 0.721; P>0.05) were insignificant independent predictors of Poverty Index. - PI = 62.731-4.177ERC-0.018UR+0.086SE. Also Expenditure on Rural Roads (ERC) (? = -14.452, t-statistic = -0,265; P>0.05) and Unemployment Rate (UR) (? = -11.644, t-statistic = -1.427; P>0.05) were insignificant independent predictors of Gross Domestic Product while School Enrolment (SE) (? = 6.424; t-statistic = 3.275; P

Keywords: Economic-downturn; Budget; Social-policies; Innovation; Investment; Challenges; Deprivation; Resources; Dilapidation. (search for similar items in EconPapers)
Date: 2018
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