Education and Economic Growth: Empirical Evidence from Nigeria
Experts opined that education affects the society both at the micro and macro levels. However, the place of education has not been given its right place in Nigeria as reflected in the nation’s budgetary allocations. Hence, this study examined the impact of different levels of education on differe...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Primorska
2018-03-01
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| Series: | Managing Global Transitions |
| Subjects: | |
| Online Access: | http://www.hippocampus.si/ISSN/1854-6935/16.59-77.pdf |
| _version_ | 1818336791422304256 |
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| author | Perekunah B. Eregha Roland I. Irughe Joel Edafe |
| author_facet | Perekunah B. Eregha Roland I. Irughe Joel Edafe |
| author_sort | Perekunah B. Eregha |
| collection | DOAJ |
| description | Experts opined that education affects the society both at the micro and
macro levels. However, the place of education has not been given its right
place in Nigeria as reflected in the nation’s budgetary allocations. Hence,
this study examined the impact of different levels of education on different
components of growth in Nigeria. Data were sourced from the CBN Statistical
Bulletin (see http://www.cbn.gov.ng/documents/statbulletin.asp), the
Nigerian Bureau of Statistics (see http://www.nigerianstat.gov.ng) and The
World Bank (see http://www.worldbank.org) from 1970–2015. The Fully
Modified ols estimator was used and the results revealed that different
levels of education impact at varying magnitude on each of the components
of growth positively in Nigeria but the magnitude of the impact is
much higher from completion rate. By implication completion rate explains
growth at a higher magnitude than enrolment rates in Nigeria, therefore
government should endeavour to provide modalities to curtail school
dropout rate in the schooling system as a measure to boost completion
rates that will facilitate growth. |
| first_indexed | 2024-12-13T14:44:56Z |
| format | Article |
| id | doaj.art-ccab76ec9fdc47fa8c9c0dde74a0f162 |
| institution | Directory Open Access Journal |
| issn | 1581-6311 1854-6935 |
| language | English |
| last_indexed | 2024-12-13T14:44:56Z |
| publishDate | 2018-03-01 |
| publisher | University of Primorska |
| record_format | Article |
| series | Managing Global Transitions |
| spelling | doaj.art-ccab76ec9fdc47fa8c9c0dde74a0f1622022-12-21T23:41:30ZengUniversity of PrimorskaManaging Global Transitions1581-63111854-69352018-03-01161597710.26493/1854-6935.16.59-77Education and Economic Growth: Empirical Evidence from NigeriaPerekunah B. Eregha0Roland I. Irughe1Joel Edafe2University of Lagos, NigeriaAdeyemi College of Education, NigeriaAdeyemi College of Education, NigeriaExperts opined that education affects the society both at the micro and macro levels. However, the place of education has not been given its right place in Nigeria as reflected in the nation’s budgetary allocations. Hence, this study examined the impact of different levels of education on different components of growth in Nigeria. Data were sourced from the CBN Statistical Bulletin (see http://www.cbn.gov.ng/documents/statbulletin.asp), the Nigerian Bureau of Statistics (see http://www.nigerianstat.gov.ng) and The World Bank (see http://www.worldbank.org) from 1970–2015. The Fully Modified ols estimator was used and the results revealed that different levels of education impact at varying magnitude on each of the components of growth positively in Nigeria but the magnitude of the impact is much higher from completion rate. By implication completion rate explains growth at a higher magnitude than enrolment rates in Nigeria, therefore government should endeavour to provide modalities to curtail school dropout rate in the schooling system as a measure to boost completion rates that will facilitate growth.http://www.hippocampus.si/ISSN/1854-6935/16.59-77.pdfeducationnon-oil growthoil growthfully modified OLS |
| spellingShingle | Perekunah B. Eregha Roland I. Irughe Joel Edafe Education and Economic Growth: Empirical Evidence from Nigeria Managing Global Transitions education non-oil growth oil growth fully modified OLS |
| title | Education and Economic Growth: Empirical Evidence from Nigeria |
| title_full | Education and Economic Growth: Empirical Evidence from Nigeria |
| title_fullStr | Education and Economic Growth: Empirical Evidence from Nigeria |
| title_full_unstemmed | Education and Economic Growth: Empirical Evidence from Nigeria |
| title_short | Education and Economic Growth: Empirical Evidence from Nigeria |
| title_sort | education and economic growth empirical evidence from nigeria |
| topic | education non-oil growth oil growth fully modified OLS |
| url | http://www.hippocampus.si/ISSN/1854-6935/16.59-77.pdf |
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