Effect of Social and Economic Service Expenditure on Economic Development in Nigeria&comma; &lpar;2006 &ndash; 2016&rpar;

Paago Ledibabari; Akpeekon; Barisua

Effect of Social and Economic Service Expenditure on Economic Development in Nigeria, (2006 – 2016)

Paago Ledibabari AND Akpeekon, Barisua

Abstract

Government of every nation in the world spends on social and economic services such as security, health, education, servicing of federation debts, capital investments and administrative expenses. Social and economic services expenditure investment especially on productive venture is expected to accelerate the pace and level of economic development. This study therefore seeks to examine the effect of social and economic service expenditure on economic development (2006 – 2016). Data used in the study was on Gross Domestic Product (GDP), Gross National Product (GNP), social and economic services expenditure in indicators Health and Education and it was source for and extract from the Central Bank of Nigeria online statistical database and (https://www.indexmundi.com). The data spanned from 2006 -2016. The method Ordinary Least Square (OLS) multiple regression technique was used to estimate the hypotheses formulated in line with the objectives of this study. The results of this study revealed that the Federal social and economic service expenditure has no positive and insignificant impact on the economic development of Nigeria for the period under study. In view of the above facts, it was recommended that government should allocations diversify more resources to other sectors of the economy such as agriculture and industry into bring about feasible economic development.

Keywords

Social ServiceEconomic ServiceExpenditure and Economic development.

References

Abata, M.A. & Adejuwon, K. D, (2011). Economic policy as a tool for economic growth and development in Nigeria, European Journal of humanities and social sciences, 6(1), 20-25. Abata, M.A; Kehinde, J.S & Bolarinwa S.A, (2012). Fiscal and monetary policy and economic growth in Nigeria: A theoretical exploration, International Journal of academic research in economics and management sciences, 1(5), 21-25. Abu, N. & Abdullahi, U. (2010). Government expenditure and economic growth in Nigeria, 1970 – 2008: A disaggregated analysis, business and economic Journal, 1(4), 40-46. Adrian, F & Mick, F. (2003). Changing approach to public expenditure management in low income and dependent countries, world institute for Development Economics Research, discussion paper, 2001 (107). Alex, R. K, (2013). The factors affecting gross domestic product (GDP) in developing countries: The case of Tanzania, European Journal of business and management, 5(4), 52-55 Ana, P. P, & Petre, B, (2013). Theoretical aspects regarding public expenditures, annuals of the university of economics 13(1), 30-32. Asika, N. (2010). Research methodology in the behavioural sciences, Lagos, Longman Plc. Baridam, D.M. (2001). Research methods in administrative sciences, 3rd edition, Port Harcourt, Sherbroke associate. CBN (2015). Central Bank of Nigeria statistical bulletin, Volume 25. Chris, O.U & Roland, A.A, (2015).The effect of public expenditure on the growth and development of Nigerian economy (1980-2012). International review of management and business research, 4(3), 10 – 15. Chude, N. P, & Chude, D.I. (2013). Impact of Government expenditure on economic growth in Nigeria, International Journal of business and management review, 1(4), 18 – 22. Drudy, P.J. (2009). Problems with economic growth: Towards a better measures of progress, Journal of human rights economics and the budget. Haller, A.P. (2012). Concept of economic growth and development: Challenges of crisis and of knowledge Journal of economic transdisciplinarity cognition, 15(1), 20 – 26. Ismaila, M. & Imoughele, L.E. (2015). Macroeconomic determinants of economic growth in Nigeria: A co-integration approach international economics and management sciences. Ochejele, J. J., (2007). Economic Analysis. Jos: Ichejum Press. Odoh, N. A., (1998). Introduction to Public Finance. Enugu: Rowchris Education Books Ltd. Okojie, C. E. E. (1995). “Human Capital Formation for Productivity in Nigeria. Nigerian Economic Review, June, pp. 44-45. Roux, A., (1994). “Defence, Human Capital and Economic Development in South Africa” African Defence Review No. 19. Schaltergger, C. A. and Torgler, B., (2007). “Government Accountability and Fiscal Discipline: A Panel Analysis using Swiss Data”. Journal of Public Economics, 91 (1 – 2), pp. 117-140.

Effect of Social and Economic Service Expenditure on Economic Development in Nigeria&comma; &lpar;2006 &ndash; 2016&rpar;

Abstract

Keywords

References

More Articles from IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT

Effect of Social and Economic Service Expenditure on Economic Development in Nigeria, (2006 – 2016)