Higher Education and Economic Growth in Nigeria: an Empirical Investigation
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Date
2011-06
Authors
Dauda, R.O.S
Journal Title
Journal ISSN
Volume Title
Publisher
Serials Publications, New Delhi
Abstract
This study is an attempt to provide empirical evidence on the effect of higher education proxied by tertiary school enrollment and graduate turnout on economic growth in Nigeria during the period 1977 to 2007. The data used for the study were obtained from the Central Bank of Nigeria and the Nigerian National Bureau of Statistics. This paper employs co-integration and error correction techniques for the data analysis. The study reveals that higher education does not only have positive impact on growth of the Nigerian economy but such impact is strong and statistically significant. The empirical results indicate that long-run equilibrium relationship exists between higher education development and economic growth in Nigeria. It was revealed
that labour force and physical capital exert positive and significant influence on growth while political instability proxied by a dummy variable and inflation rate have negative effect on growth. The policy implication of this study is that government should pay attention to policies that enhance labour productivity and stimulate growth through adequate investment on higher education under stable macroeconomic environment.
Description
Staff Publications
Keywords
Higher Education , Economic Growth , Economic Development
Citation
Dauda, R.O.S (2011) Higher Education and Economic Growth in Nigeria: an Empirical Investigation. International Journal of Economics Volume 5(1)