Government Education Spending and Education Outcome in Nigeria
International Journal of Economics, Finance and Management Sciences
Volume 4, Issue 4, August 2016, Pages: 223-234
Received: Jul. 14, 2016; Accepted: Jul. 25, 2016; Published: Aug. 6, 2016
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Authors
Charles Uchenna Obi, Department of Economics, Nnamdi Azikiwe University, Awka, Nigeria
Sylvester Chukwunonso Ekesiobi, Department of Economics, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Nigeria
Stephen Kelechi Dimnwobi, Department of Economics, Nnamdi Azikiwe University, Awka, Nigeria
Emilia Mukosolu Mgbemena, Department of Economics, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Nigeria
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Abstract
Expenditure on education is regarded as investment in human capital because it helps in skill formation and thus raises the ability to work and produce more. Government education spending is of great importance to national development and plays a critical role in promoting growth and knowledge deepening. This paper examines government education spending and education outcome in Nigeria from 1970 – 2013. Employing Augmented Dickey Fuller (ADF) unit root test and Ordinary Least Square (OLS) technique, the study revealed that public education spending has a positive and significant effect on education outcome in Nigeria. Public health expenditure and urban population growth were also found to have positive effects on education outcome but are non significant in determining education outcome. The study recommends among other things, that government should spend more on education which needs to be targeted for the desired effects to be realized. Again government should monitor spending given the history of corruption and embezzlement of public funds in Nigeria.
Keywords
Government Spending, Education Outcome, Economic Development
To cite this article
Charles Uchenna Obi, Sylvester Chukwunonso Ekesiobi, Stephen Kelechi Dimnwobi, Emilia Mukosolu Mgbemena, Government Education Spending and Education Outcome in Nigeria, International Journal of Economics, Finance and Management Sciences. Vol. 4, No. 4, 2016, pp. 223-234. doi: 10.11648/j.ijefm.20160404.18
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Copyright © 2016 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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