Keyword : Gross Domestic Product, Government Expenditure on Education, School Enrolment
Author(s) : Oluwole, Bolatito Adewumi & Saheed, Zakaree S.
Abstract :
The study assessed the impact of government education expenditure on economic growth in Nigeria from 1960-2017. The study employed vector auto regression (VAR) and Augmented Dicey Fuller (ADF) in the analysis and estimation of this work. The result of the unit root tests revealed that all the variables are stationery in the first order. The Auto regression results show that independent variables, that is, Total Government Expenditure on Education (TGEE), Primary School Enrolment (PSER), Secondary School Enrolment (SSER) and Tertiary Institutions Enrolment (TIER) jointly have statistical significant impact on the dependent variable GDP. The result further shows that TGEE and SSER can granger cause GDP, while PSER and TIER cannot granger GDP. The hetroscedasticity test revealed absence of hetroscedasticity among the variables. The study therefore recommends improvements in the funding of school system in Nigeria from primary school to university level, introduction of new educational curricula to be jointly adopted by both private and public institutions which will take care of industrial and societal needs in Nigeria for economic sustainability and growth.
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