Impact of Government Education Expenditure on the Economic Growth of Anambra State, 2015-2023 (Published)
This study evaluated the impact of government education expenditure in the economic growth of Anambra State, 2015-2023. The specific objectives of the study were to: investigate if there is a causal link between expenditure on education and economic growth in Anambra State; To ascertain the challenges militating against quality of education towards economic growth; To find out measures that will improve the quality of education towards economic growth. The Research design employed in the study is descriptive survey research design. The data generated for the study comprises of primary sources (field survey). Primary data are those obtained directly from the originators or main source. The population of this study comprised population of Anambra State. The estimated population of Anambra state is 5,953,500. The sample consisted 200 undergraduate students drawn from the population. The study found that: there is a causal link between expenditure on education and economic growth in Anambra State. There are challenges militating against quality of education towards economic growth in Anambra State. The study recommend that Government should increase the level of funds directed to educational sector. This study recommends that the Nigerian government gradually increases the share of educational allocation from the budget, to match the benchmark of 26% set out by UNESCO. The issue of corruption in the country is also prevalent in the educational sector. This result to the inefficient impact of educational expenditure on the public, limiting the influence on economic growth. This study recommends efforts to be made, to improve the efficiency of the expenditures, allocated to the education sector. This study also recommended that the government should focus on other factors that have real causal impact on economic growth. These factors include technology, security and power. These are aspects of the country’s economy, that if improved will have a massive impact on economic growth.
Keywords: Education, Government Expenditure, economic growth, militating
Determinants of Financial Intermediation and Its Implications on Economic Growth in Nigeria (Published)
The main objective of this study is to investigate the effect of financial intermediation on economic growth in Nigeria. The study made use of ordinary least square regression analysis. The study shows that interest rate margin has significantly impacted on economic development in Nigeria, that credit to private sector has significantly impacted positive on the development of Nigerian economy and that the level of lending rate over the years has impacted negatively on economic growth in Nigeria. The policy implication is that improper management of financial intermediation will help the economy to develop. This means that there is significant and positive effect of financial intermediation on economic growth in Nigeria. We therefore recommend that Nigerian government should ensure that a component analysis of the real sector of the Nigerian economy be carried out with a view to having a better understanding of the inverse relationship between the loans to the private sector and the performance of Nigerian economy through financial intermediation.
Keywords: Credit to Private Sector, Financial Intermediation, Interest Rate Spread, Regression, economic growth