GOVERNMENT EXPENDITURE ON EDUCATION AND ECONOMIC GROWTH NEXUS IN NIGERIA: EVIDENCE FROM BOOTSTRAP ARDL TEST FOR COINTEGRATION
Naim Aliyu and Habibu Zayyana
Volume 1 Issue 1
Abstract
This paper employs the newly developed bootstrap autoregressive distributed lag (BARDL) approach for cointegration in the presence of single structural break, to empirically examine the relationship between government expenditure on education and economic growth in Nigeria, using annual time series data covering the period of 1981 to 2020. The finding reveals the existence of long-run relationship between the variables, and government expenditure on education has positive and significant long term effect on economic growth in Nigeria. Based on this finding, the paper recommends that the government expenditure on education should be increase and equitably target all levels of education so as to improve human capital development that will lead to sustainable economic growth in Nigeria. Keywords: Bootstrap ARDL, Economic growth, Government expenditure on education, Nigeria.
Download Paper