The Social Sciences
ISSN: Online 1993-6125ISSN: Print 1818-5800
Abstract
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.
How to cite this article:
I.R. Irughe. The Impact of Educational Expenditure on Economic Growth in Nigeria: An Error Correction Specification.
DOI: https://doi.org/10.36478/sscience.2013.206.212
URL: https://www.makhillpublications.co/view-article/1818-5800/sscience.2013.206.212