International records / OpenAlex research

Education-Economic Growth Paradox in Nigeria: An Autoregressive Model

The paper sets out to empirically investigate the paradox that an increase in real educational expenditure reduces economic growth in Nigeria, using annual time series data from 1970 to 2003. Some statistical tools are employed to explore the relationship between these variables. The study examines stochastic characteristics of each time series by testing their stationarity using Augmented Dickey Fuller (ADF) and Phillip Perron (PP) tests. Then, the relationship between growth rate of real gross domestic product and real capital expenditure on education is dynamically examined using error corr…