Public Expenditure and Economic Growth in Nigeria

Osaretin Paul Otubu
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Osaretin Paul Otubu: Department of Economics, Faculty of Social Sciences, University of Uyo, P.M.B 1017, Uyo Akwa Ibom State, Nigeria

International Journal of Research and Innovation in Social Science, 2020, vol. 4, issue 6, 612-620

Abstract: This research was on “public expenditure and economic growth in Nigeria from 1980 to 2019. The broad objective or aim of this research is to investigate the influence of public expenditure/spending on economic growth in Nigeria – 1980 to 2019. The econometrics technique of ordinary least squares, co-integration, error correction model/mechanism and granger causal examination were employed as analytical tools. From the error correction estimation, we found that government expenditure/spending on education had a positive influence on economic ontogeny or growth and it was reliably statistically significant. Government expenditure/spending on health conforms to apriori anticipation. Public expenditure/spending was found to be necessary for influencing or impacting gross domestic/internal product. The granger causal outcome reveals that there is a causal relationship flow between government expenditure/spending on education and economic ontogeny/growth in Nigeria, and there was also causal relationship flow between government expenditure/spending on healthcare and economic growth. It was notably recommended that government/authority need to increase allotment to the educational and healthcare sectors of the economy. Training and retraining of healthcare and educational staff, and government/authority should embrace global trending technology in the educational and healthcare sectors because the entire world system is becoming digitally or technologically driven.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:4:y:2020:i:6:p:612-620

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