Education: A Catalyst for Human Capital Development in Science and Technology (Published)
This study investigates, the human capital development in science and technology in Nigeria. It used ordinary least regression technique and time series date from 1986-2017 which were sourced from Central Bank Statistical Bulletin. The variables were tested for unit root and co-integration they are found to have a long run relationship with RGDP. However, the result indicates that human capital development affects the administrative growth of the economy within the study period. This study therefore recommends that adequate attention must be given to the equipping of our schools with modern research facilities and technological experimentation device and government should improve conditions of service for workers in the educational sector and more competent hands that will help improve productivity of the national economy at large needs to be engaged.
Keywords: Administration, Education, Health, Human capital Formation and Development.
Education and Economic Growth in South Asia (Published)
Interconnection between education and economic growth is a subject of great interest in most developing nations in the world today. This is because economic growth is one of the key indicators of the level of national development. In this study, regression analysis is applied to look into the genuine effects and the relationship between education and economic growth of the Southern Asian Countries such as Bangladesh, India, Nepal, Pakistan, Maldives, Bhutan and Sri Lanka. The methodology consists of the means of estimation and econometric analysis which help to determine the actual quantitative effects of education in economic growth especially in South Asian nations. By this, an affirmation of the relationship between the two variables can be made due to enough evidence obtained in this study.
Keywords: Education, GDP, Regression, South Asia, economic growth
Higher Institutions Funding and the Nigerian Economy (Published)
This study examines funding tertiary institutions and Nigerian growth perspective. The specific objective of the study is to evaluate the effect of tertiary institutions funding on national development in Nigeria. An ordinary least squares estimation technique was used in the study to evaluate the effect of the independent variables on the dependent variable. The result of experiment indicates that funding is a veritable tool for tertiary institutions growth in Nigeria. The result also shows that government capital expenditure funding is not statistically significant in the growth process. It was recommends that the government has to invest more on the education sector as well as ensuring that the resources are properly managed and used for the development of education services. The study concludes that funding of higher education in Nigeria needs to be improved upon especially in the area of capital expenditures funding. This is as a result of the increasing need and demand for specialized services in different sectors within the academic institutions.
Keywords: Budget, Education, Funding, Government Expenditure, Higher Institutions, economic growth
Impact of Disaggregated Public Expenditure on Economic Growth of Selected African Countries: A Panel VECM (Published)
The study investigated the long-run and short-run equilibrium relationship between economic growth and disaggregated public expenditure in selected West African Countries with panel data spanning 1990-2017. The study employed panel co-integration based on Pedroni and Panel Vector Error Correction Model (PVECM) with Engle and Granger´s procedure for empirical analysis. The findings revealed that expenditure on infrastructure, health and education have positive impact on economic growth at about 2%, 6% and 2% respectively, but only expenditure on infrastructure is significant. Defence expenditures and education expenditures at both lags have indirect and insignificant influence on economic growth while health expenditure has direct and insignificant impact on economic growth at all lags. The study recommends policy makers to focus on developing health, infrastructure and education sectors which has not contributed significantly enough to economic growth in the selected African countries
Keywords: Defence, Education, Health, Infrastructure, PVECM, economic growth
Education and Economic Growth in South Asia (Published)
Interconnection between education and economic growth is a subject of great interest in most developing nations in the world today. This is because economic growth is one of the key indicators of the level of national development. In this study, regression analysis is applied to look into the genuine effects and the relationship between education and economic growth of the Southern Asian Countries such as Bangladesh, India, Nepal, Pakistan, Maldives, Bhutan and Sri Lanka. The methodology consists of the means of estimation and econometric analysis which help to determine the actual quantitative effects of education in economic growth especially in South Asian nations. By this, an affirmation of the relationship between the two variables can be made due to enough evidence obtained in this study.
Keywords: Education, GDP, Regression, South Asia, economic growth
Towards Better Performance in Achieving Sustainable Development Goals in Nigeria (Published)
There are many challenges affecting how we can better achieve the sustainable development goals (SDGs). Since the factors that affected our poor performance during the MDGs which include unmanageable population, pervasive poverty, ignorance and superstition, religious dogmatism, corruption and economic mismanagement, lack of political will, authenticity of collected data are still largely with us in Nigeria. Apart from those issues pertaining to Nigeria, we need to be able to manage some existing global threats to sustainable development. These threats include the continuous advancement towards finding or making more potent biological, chemical, nuclear, cyber and other weapons of mass destruction. United Nations need to improve on legislation to prevent these proliferations and also improve on how to coordinate scientific efforts towards better achievement of the Sustainable Development goals. Finally the importance of education in its entire ramification was identified as key to achieving the SD goals better.
Keywords: Education, Millennium Development Goals (MDGS), Sustainable Development, Sustainable Development Goals (SDGs), Weapons of mass destruction
Social Welfare Analysis of Gender Inequality in Education and Employment in Urban and Rural Nigeria (Published)
This study analyzes the social welfare effect of gender inequality in human capital development (education and employment) across rural and urban Nigeria. Using Nigeria most recent data set on labour force survey by NBS, which captures labour force participation by gender, gender unemployment by educational level and sector, gender schooling ratio, gender population growth rate and economic active participation by gender this study investigated how differently, gender inequality in education and employment affects women across rural and urban regions. To unravel this, we adopted Shorrock and Alkinson Generalized Lorenz approach to welfare dominance and inequality decomposition. We ranked gender inequality on education and employment by rural and urban. The study found that female unemployment by educational level is predominant in the urban sectors compared to the rural sectors. Also gender inequality is higher in labour force participation when compared with education in Nigeria.
Keywords: : Human Capital, Education, Employment, Gender Inequality, Sectoral dominance (Rural and Urban)
Empirical Review of Government Expenditure on Education and Economic Development in Nigeria (2000 – 2015) (Published)
The study empirically reviewed government expenditure on education and economic development in Nigeria from 2000–2015. The specific objective is to examine the extent to which the Nigerian GDP affects the government expenditure on education, social and community services and the number of school enrolment within the period being reviewed. Secondary data employed were from the EFA 2015 report and CBN bulletin published in 2016. Multiple regression analysis and student t-test were the statistical tools applied, with the use of SPSS for both data analysis and to test the hypotheses formulated for the study at 5% level of significance. The result indicated that expenditure on education is significant and impacts on the economy. While the result on SCS and ENRL showed a significant relationship with the GDP but little or no impact. The conclusion is that, the anti-graft fight by the present government to encourage proper use of resource allocation has to be encouraged by all good citizens and lovers of education. If the resources allocated are efficiently utilized to equip Government owned schools, education will be affordable by all and number of school drop-outs will reduce significantly.
Keywords: Economic Development, Education, GDP, enrolment, social and community services.
INTERACTION AMONG EDUCATION, EMPLOYMENT, FDI AND GDP GROWTH IN BANGLADESH- AN ECONOMETRIC ANALYSIS (Published)
This paper has addressed a very important policy question of Bangladesh. This examines the causality among education, employment, FDI and GDP growth in Bangladesh by using time series data from 1980 to 2013. Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests show that the time series data is stationary at first difference. Then, the Johansen cointegration analysis indicates that the variables have strong, positive and significant linear relationship between them at .05 level of significance. Granger causality test found the unidirectional causality between employment and literacy rate and also between literacy rate and FDI. Again this empirical Granger causality test found that employment and FDI Granger causes GDP in unidirectional way. Finally, the Vector Error Correction Model (VECM) is also used to check the short and long run equilibrium relationships among the variables and the significant results have been found. This study gives the guideline to the researchers and policy makers.
Keywords: Bangladesh, Education, Employment, FDI, GDP growth
INTERACTION AMONG EDUCATION, EMPLOYMENT, FDI AND GDP GROWTH IN BANGLADESH: AN ECONOMETRIC ANALYSIS (Published)
This paper has addressed a very important policy question of Bangladesh. This examines the causality among education, employment, FDI and GDP growth in Bangladesh by using time series data from 1980 to 2013. Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests show that the time series data is stationary at first difference. Then, the Johansen cointegration analysis indicates that the variables have strong, positive and significant linear relationship between them at .05 level of significance. Granger causality test found the unidirectional causality between employment and literacy rate and also between literacy rate and FDI. Again this empirical Granger causality test found that employment and FDI Granger causes GDP in unidirectional way. Finally, the Vector Error Correction Model (VECM) is also used to check the short and long run equilibrium relationships among the variables and the significant results have been found. This study gives the guideline to the researchers and policy makers.
Keywords: Bangladesh, Education, Employment, FDI, GDP growth