Interactive Mechanisms of Public Spending and Human Capital Outcomes on Sustainable Economic Growth in Nigeria
No Thumbnail Available
Files
Date
2020
Authors
Babarinde, A.
Saibu, O.
Lawanson, O.
Journal Title
Journal ISSN
Volume Title
Publisher
Faculty of Social Sciences, University of Lagos
Abstract
The issue of human capital outcomes and its implication for the sustainable growth process of the economy has always been topical in policy and academic discourse. More so, the controversy over the role of government has added a new dimension to this issue. While existing studies had dwelt much on the significance of human capital development on economic growth, what constitutes an appropriate measure of human capital development as well as the mechanism by which different measures of human capital outcomes are interdependent remained sparsely explored. The interactive effects of public spending and human outcomes (education and health outcomes) on economic growth in Nigeria for the period spanning 1970 to 2020 are examined based on the Fully Modified Ordinary Least Squares (FMOLS) technique. The study observed that the interactive terms of both education and health outcomes were significant in transmitting sustainable economic growth. The study also found that education requires a higher amount than health because of its wider coverage. Nonetheless, health and education spending was found to complement, and this gives the government the opportunity to embark on various mixes of financing policies. The two social sectors require increased budget allocation.
Description
Scholarly articles
Keywords
Human capital , Economic growth , Health education , Government spending , Research Subject Categories::SOCIAL SCIENCES::Social sciences::Education
Citation
Babarinde A O, Saibu M. O and Lawanson O (2020) Interactive Mechanisms of Public Spending and Human Capital Outcomes on Sustainable Economic Growth in Nigeria in UN Sustainable Development Goals (SDGs) and the Lagos Region Edited by Saibu et al Chapter 11 Pp 211-242