Education As A Key To Economic Growth And Development In Nigeria

Önder, Gylych Jelilov Ph.D Modupe .F. Aleshinloye Semiha

doi:10.18535/ijsshi/v3i2.06

Cited by 9 publications

(9 citation statements)

References 5 publications

(6 reference statements)

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“…However RETE and RCETE are significant at 10% level of significance while PRI is significant at 5% level of significance. This outcome is in line with the results of Idrees and Saddiqi (2013) and Mallick, Das and Pradhan[1] but against the findings of Jelilov, Alenshinloye and Onder[7].The adjustment term (ECM) 1.06 implies that reversion to long run equilibrium is at an adjustment speed of about 106 percent. Finally, the granger causality test reveals that a unidirectional causality exist between SEDU and RETE, PRI and RETE, PRI and RRETE, RCETE and RETE, RETE and INF, RRETE and RCETE, SEDU and RCETE, INF and PRI.This attunes to the findings of Omojimite…”

supporting

confidence: 87%

“…They found that recurrent educational expenditure had direct and significant effect on real GDP in both short run and long run while capital expenditure had direct and insignificant impact on RGDP. Jelilov, Aleshinloye, and Önder [7] investigated the effects of components of education expenditure on economic growth of Nigeria with time series data ranging from 1970 to 2006. Employing ordinary test squares (OLS) technique, the result showed that capital expenditure on education, recurrent expenditure on education, and secondary school enrolment have direct and significant impact on economic growth while primary school enrolment had inverse and insignificant influence on RGDP.…”

Section: Theoretical Proposition and Literature Reviewmentioning

confidence: 99%

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Public Education Funding and Economic Growth IN Nigeria; ARDL-VECM and Causal Inference Approach

Iheanacho

Nwaogwugwu

2021

AJEBA

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Considering the enormous impact of poor standard of educational system in Nigeria over the years, the study investigated the effects of public education funding on economic growth in Nigeria from 1985 to 2019. The paper used secondary data sourced from both Central Bank of Nigeria Statistical Bulletin and World Bank’s Development Indicators 2019. The paper employed Auto-Regressive Distributed Lag co-integration, Error correction mechanism and granger-causality tests as technique for data analysis. The ARDL bound test co-integration results revealed that RRETE, RCETE and Inflation have positive relationship with Economic growth. However, RETE, SEDU and PRI have indirect influence on Economic growth in Nigeria. Statistically, only RRETE has a long run causal effect on economic growth. ARDL Error Correction Regression output showed that RETE and RCETE are significant at 10% level while PRI is significant at 5% level this indicates the existence of short run causal relationship with the establishment of ECM long run equilibrium adjustment speed. The causal results revealed unidirectional inference between SEDU and RETE, PRI and RETE, PRI and RRETE with no feedback effect. Therefore, the study recommended educational funding targeted at secondary and primary education system in order to acquire productive skills and knowledge to stimulate economic growth and development in Nigeria. There is need to meet the UNESCO funding ratio for both recurrent and capital expenditure on education sector.

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supporting

confidence: 87%

Section: Theoretical Proposition and Literature Reviewmentioning

confidence: 99%

Public Education Funding and Economic Growth IN Nigeria; ARDL-VECM and Causal Inference Approach

Iheanacho

Nwaogwugwu

2021

AJEBA

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“…The neoclassical theories as well as the Tobin's q theory of invest assert that interest rates affect economic growth negatively. For Nigeria, many studies confirm that interest rates are negatively related to economic growth, e.g., Udoka and Roland (2012), Agwu (2014), Orji et al (2015); and Jelilov (2016) and Maiga (2017).…”

Section: Introductionmentioning

confidence: 99%

Determinants of Nigeria Government Agricultural Expenditure (1999-2020): Evidence From Vector Error Correction Model Approach

B.¹,

Ogah²,

Ezihe³

2022

JASD

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The study focused on the determinants of government agricultural expenditure in the long and short run from 1999-2020 using Vector Error Correction Model approach. Annual time series data on agricultural GDP, agricultural expenditure, inflation rate, exchange rate, interest rest, private investment, public investment and foreign direct investment collected from the records of Central Bank of Nigeria and National Bureau of Statistics database were analyzed using inferential statistics (ADF, Johansen co-integration and VECM). The results showed that all the variables co-integrate and were stationary at first difference. In the long run, inflation (1.118415) and private investment (0.004239) were the significant and important variables that determine agricultural expenditure. The coefficient of multiple determination (R2) was 0.925, indicating that 92.5% variation in agricultural expenditure was explained by the variables. The Error correction Term is statistically significant and negative (-0.0278) in the short run indicating a slow speed of adjustment of variables towards equilibrium. In the short run, inflation, private investment and public investment were the important variables that influenced government expenditure. The study concludes that inflation, private and public expenditures influenced government agricultural expenditure significantly and therefore recommend friendly policies to curtail inflation, conducive environment to catalyze private investment and stimulation of public investment to boost agricultural growth.

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“…Olu (2012: 483) is of the view that "teachers who shoulder the responsibility of training the young ones need to be developed to be able to perform their role, up-grade and update their competency within the school system". This is particularly important for tertiary education because according to the World Bank, "Education in general and higher education in particular, are fundamental to the construction of a knowledge economy and society in all nations (Jelilov, 2016(Jelilov, : 1863.…”

Section: Introductionmentioning

confidence: 99%

Technological Globalization and Academic Staff Development in Tertiary Institutions in Rivers State, Nigeria

2021

JEP

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This study investigated Technological Globalization and Academic Staff Development in Tertiary Institutions in Rivers State, Nigeria. It was undertaken to determine the influence of technological globalization on academic staff development in tertiary institutions in Rivers State. Two research questions and two hypotheses guided the study. The correlational research design was adopted for the study. A sample of 145 out of the population of 1,454 academic staff from the four Rivers State owned tertiary institutions was randomly selected. The method of data collection was the questionnaire titled 'Technological Globalization and Academic Staff Development Questionnaire' (TGASDQ). The instrument was validated by experts and a reliability coefficient of 0.766 was obtained. The data were analyzed with both descriptive (Mean) and inferential statistics (Pearson Product Moment Correlation co-efficient (r). The study found that there is a low, positive and significant correlation between technological globalization and academic staff development in tertiary institutions in Rivers State. The study concluded that academic staff of the institutions need to evolve and align themselves with the benefits of technological globalization, and therefore recommended that educational managers and administrators should consciously, enhance their advancement centres and develop functional ICT centres for academic staff development.

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Education As A Key To Economic Growth And Development In Nigeria

Cited by 9 publications

References 5 publications

Public Education Funding and Economic Growth IN Nigeria; ARDL-VECM and Causal Inference Approach

Public Education Funding and Economic Growth IN Nigeria; ARDL-VECM and Causal Inference Approach

Determinants of Nigeria Government Agricultural Expenditure (1999-2020): Evidence From Vector Error Correction Model Approach

Technological Globalization and Academic Staff Development in Tertiary Institutions in Rivers State, Nigeria

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