TY  - JOUR
T1  - The Impact of Educational Expenditure on Economic Growth in Nigeria: An Error Correction Specification
AU - Irughe, I.R. 
JO  - The Social Sciences
VL  - 8
IS  - 2
SP  - 206
EP  - 212
PY  - 2013
DA  - 2001/08/19
SN  - 1818-5800
DO  - sscience.2013.206.212
UR  - https://makhillpublications.co/view-article.php?doi=sscience.2013.206.212
KW  - Education expenditure
KW  -budgetary allocation
KW  -economic growth
KW  -error correction technique
KW  -CBN
AB  - Education has been viewed by many as a tool for national transformation. Notwithstanding, the realization of this fact is not so clear going by the number factors militating against this all important sector. It is against this backdrop that this study empirically examines the impact of education expenditure on economic growth in Nigeria. Data for the study were extracted from the CBN statistically Bulletin from 1977-2009. The study employed the error correction modeling technique and a geometric method of analyses. The study revealed that education expenditure had significantly negative effect on growth. It was also discovered that the education expenditure in Nigeria followed a dwindling pattern. Based on the findings, it was recommended that public expenditure on education maintains an upward budgetary allocation that is consistent.
ER  -