 PUBLIC EXPENDITURE AND ECONOMIC GROWTH IN NIGERIAIlorin Journal of Business and Social Sciences, 2018, vol. 20, issue 1, 148-158 Abstract: The study examined the impact of public expenditure on economic growth in Nigeria between 1970 and 2014. The study employs the Solow growth model which is specified in Cobb-Douglas form with public expenditure as the factor. To achieve the objective of the study, relevant secondary data were collected from the Central Bank of Nigeria Statistical Bulletin on various years. The result of the regression reveal that capital expenditure on social and community services, past period of gross capital formation, inflation, capital expenditure on social and community services and recurrent expenditure on economic services have positive impacts on economic growth. However, gross capital formation, recurrent expenditure on social and community services and its past period and also total external debt have negative effects on economic growth. Based on the findings, this study recommends that capital expenditure on economic services, gross capital formation, capital expenditure on social and community services should be boosted as they exert positive effects on economic growth. And also a considerable level of inflation should be put in place as it also have positive impact on economic growth. Keywords: Public Expenditure; Economic Growth; Cobb-Douglas; Nigeria (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ris:ilojbs:0037 Access Statistics for this article More articles in Ilorin Journal of Business and Social Sciences from Faculty of Social Sciences, University of Ilorin |
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