Education aggregate production function of Nigeria’s economy
No Thumbnail Available
Caleb Journal of Social and Management Sciences
Education is key to labour intellectualism and increasing productivity. It contributes to nation building and enhances a country's competitiveness in global markets. Observing that literature has focused on the link between education and growth, this paper used a relatively new and more robust cointegration approach within an autoregressive distributed lag (ADL) framework to investigate the long run relationship between education and economic growth in Nigeria between 1981 and 2014. Evidences from baseline regressions indicate that tertiary education is the major driver of economic growth in Nigeria. As a policy implication, it is recommended that the nation increases her investment on tertiary education, while a good salary scheme with other motivated incentives for higher institutions' teachers be put in place.
Odeleye, A.T. (2016). Education aggregate production function of Nigeria’s economy. Caleb Journal of Social and Management Sciences, 2(1), 58-88.