Abstract
This paper considers the nexus between education and economic growth in Nigeria. Education here is seen as portraying one of the major components of human capital formation, which, in turn, is a significant representative in modelling the endogenous growth. The greatest factor that is pivotal to achieving sustainable economic growth is investment in the quantity, and more significantly the quality of education. Time series data were collected from different sources between 1980 and 2015, and cointegration technique and error correction methodology were employed for the estimation. Empirical results reveal that educational investment impacts on economic growth in Nigeria in a direct and significant manner. Hence, we, amongst several recommendations, propose that a forceful and pragmatic injection of funds by government at all levels into the different sectors of education is the key to increased and sustainable economic growth.
| Original language | English |
|---|---|
| Article number | 6 |
| Pages (from-to) | 65-79 |
| Number of pages | 15 |
| Journal | Zambia Social Science Journal |
| Volume | 6 |
| Issue number | 1 |
| Early online date | 25 Apr 2019 |
| Publication status | Published - 2019 |
Keywords
- Budget allocation
- Gross fixed capital formation
- Educational enrollment
- Economic growth
