International records / OpenAlex research

Government Expenditure and Economic Growth: An Empirical Analysis of the Armey Curve in Nigeria

This paper discusses the theoretical and empirical basis for the existence of an optimal size of government as depicted by Armey Curve, which is an inverted U curve, where the size of government is on the horizontal axis and economic growth rate is on the vertical axis. The geometric nature of government expenditure in Nigeria, and the absence or little effect it had on the economy, put to question the importance of government expenditure in the country. Also, with the shifts in economic trend in the country from a government dominated economy to more private driven market economy, makes the n…