Income Inequality and Economic Growth In Nigeria: Implication For Economic Development

Philip Ifeakachukwu Nwosa ()
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Philip Ifeakachukwu Nwosa: Federal University Oye-Ekiti

Acta Universitatis Danubius. OEconomica, 2019, issue 15(1), 108-116

Abstract: This study examined the relationship between income inequality and economic growth in Nigeria and its implication for economic development. The study covered the period 1981 to 2017 and employed the autoregressive distributed lag estimation technique. The results of the study showed that economic growth had positive but insignificant impact on income inequality in Nigeria. Thus, the study recommends the need for the government to ensure equitable distribution of economic gains among the poor citizens. The budgetary preparation and allocation should also be pro-poor based and tailored towards improving the welfare of the larger population and not at further enriching the few rich ones. The implementation of the above and other welfare enhancing policies would contribute to increasing the level of economic development in Nigeria.

Keywords: Income inequality; economic growth; ARDL; Nigeria (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2019:i:1:p:108-116

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