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
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
The Relationship between Life Expectancy and Health Spending (Published)
This article shows the relationship between health spending per capita and life expectancy in the OECD. Most countries are grouped around a 45 degree line with life expectancy duly rising with spending. Health care expenditures and life expectancy have both been rising in many countries, including in the Netherlands. However, it is unclear to what extent increased health care spending caused the increase in life expectancy. Establishing a causal link between health care expenditures and mortality is difficult for several reasons.
Keywords: GDP, OECD, Relationship, health spending, life expectancy
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.
Tax Buoyancy and Elasticity in Nigeria: The Case of Aggregate Tax (Published)
This study was motivated by the growing demand for government funds to meet up with their expenditures as well as diversification for different streams of income. Empirical evidence has shown that the buoyancy and elasticity of tax are two clear ways of measuring how tax revenue responds to changes in income. This study adopted secondary data sets, which were sourced from CBN statistical Bulletin, National Bureau of statistics (NBS) and Federal Inland Revenue Service (FIRS) of Nigeria. A standard multiple regression estimation procedure in the form of the vector error correction model (VECM) model was adopted. The result from the study showed that tax revenue is significantly buoyant and elastic in Nigeria. In view of the result the study recommended among others that, the government introduces policies that will help her take advantage of the potentials inherent in the country and increase its tax revenue thereby having another source of financing its budget other than the current crude oil proceeds.
Keywords: GDP, Nigeria, Tax Buoyancy, Tax Elasticity, Tax Revenue
Is Tourism a Gene Sector to Jordan’s Gdp? (Published)
Tourism in Jordan is a service industry with multiple outcomes. However, at present, it has not been fully utilized and developed to generate the expected income for Jordan’s GDP. Researchers have examined Jordan’s tourism and identified its economical outcomes and methods of enhancement. This study is intended to investigate the contribution of tourism on Jordan’s GDP. To approach the aim of the study, data used in the empirical analysis was collected from the Ministry of Tourism for the period 2006 -2014.Statistical techniques used were: means, variances, covariance, and standard deviations. Research results indicated positive and significant contribution of Jordanian Tourism Sectors on GDP.
Keywords: GDP, Income, Outcome, Service Industry, Tourism
Carbon Emission and Economic Growth of SAARC Countries: A Vector Autoregressive (VAR) Analysis (Review Completed - Accepted)
This paper examines the causal relationship between carbon ( ) emissions and economic growth in seven SAARC countries using time series data for the period from 1972-2012. We applied Vector Error Correction Modeling (VECM) approach. We have also applied Augmented Dickey-Fuller (ADF) and Phillips-Perron (P.P) test and Johansen’s cointegration approach to check time series properties and cointegration relationship of the variables. Results exhibit a cointegration relationship between environmental pollution and economic growth. Results also show that the estimated coefficients of emissions have positive and significant impacts on GDP in the long run. These results will help the environmental authorities to understand the effects of economic growth on environment for degradation and manage the environmental problems using macroeconomic methods.
Keywords: Causality, Emission, GDP, SAARC, VECM
TAX BUOYANCY AND ELASTICITY IN NIGERIA: THE CASE OF AGGREGATE TAX (Review Completed - Accepted)
This study was motivated by the growing demand for government funds to meet up with their expenditures. Empirical evidence has shown that the buoyancy and elasticity of tax are two clear ways of measuring how tax revenue responds to changes in income. This study adopted secondary data sets, which were sourced from CBN statistical Bulletin, National Bureau of statistics (NBS) and Federal Inland Revenue Service (FIRS) of Nigeria. A standard multiple regression estimation procedure in the form of the vector error correction model (VECM) model was adopted. The result from the study showed that tax revenue is significantly buoyant and elastic. In view of the result the study recommended among others that, the government introduces policies that will help her take advantage of the potentials inherent in the country and increase its tax revenue thereby having another source of financing its budget away from the current crude oil.
Keywords: GDP, Nigeria, Tax Buoyancy, Tax Elasticity, Tax Revenue
The Construction Industry and its Linkages to the Ghanaian Economy-Polices to Improve the Sector’s Performance (Published)
The study suggests that the construction sector plays a leading role in the improvement of socioeconomic conditions and the built environment in every country. The study revealed that the construction sector remains as one of the key sectors in the economy in terms of its share of GDP (i.e. 9.1% for 1993- 2011 period) and the overall industrial output( i.e. 35.9% for 1993-2011 period). Also, the paper estimated Construction Sector Index for Ghana for the first time and the index revealed that construction sector has improved significantly over the past two decades. Similarly, some empirical evidence from the econometric estimation using the Engel Granger Causality and Johansen Co-integration methodologies confirmed the evidence that the construction sector activity promoted economic growth in Ghana and the relationship remains positive. Finally, the paper concluded that, the construction sector when given the needed push in terms of capacity building, good policy initiatives and regulatory guidelines can provide the necessary impetus for socio-economic development in Ghana.
Keywords: Construction Index, Credit, GDP, Industry Output and Economy