GOVERNMENT EXPENDITURE ON EDUCATION AND POVERTY REDUCTION: IMPLICATIONS FOR ACHIEVING THE MDGS IN NIGERIA A COMPUTABLE GENERAL EQUILIBRIUM MICRO-SIMULATION ANALYSIS
Journal Title: Asian Economic and Financial Review - Year 2014, Vol 4, Issue 2
Abstract
This study examines the likely impact of government expenditure policy on education and poverty reduction in Nigeria. The specific objective of the study is to explore or simulate how government expenditure on education would help to meet the Millennium Development Goals (MDG) of the United Nations in terms of improving education service and reduce poverty in Nigeria. An integrated sequential dynamic computable general equilibrium (CGE) model was used to simulate the potential impact of increase in government expenditure on education in Nigeria. The model is simulated with a 2004 social accounting matrix (SAM) data of the Nigerian economy. The result of experiment indicate that it will be extremely difficult for Nigeria to achieve the MDG target, in terms of education and poverty reduction by the year 2015, because this policy measure in the analysis was unable to meet this goal. The MDG target for Nigeria in terms of poverty reduction is to reduce the percentage of population living in relative poverty from 54.4% in 2004 to 21.4% by 2015. It was found that the re-allocation of government expenditure to education sector is important in determine economic growth and the reduction of poverty in Nigeria. It was recommends that in order to achieve the MDG in both education and poverty reduction poverty, investment in education service should receive the highest priority in the public investment portfolio. The study concludes that if government policy is going to substantially reduce poverty, then future economic growth has to be pro-poor. Investing in education is one of the pro-poor policies for improving human capital and reducing poverty.
Authors and Affiliations
Ernest Simeon O. Odior| Department of Economics, Faculty of Social Sciences University of Lagos, Akoka, Lagos, Nigeria
Keywords
Related Articles
- EP ID EP2000
- DOI -
- Views 465
- Downloads 26
THE IMPACT OF TRADER BEHAVIOR ON OPTIONS PRICE VOLATILITY
Because relatively few studies have examined the behavior among different types of traders in the options market, this investigation conducts an empirical study examining the impact of trader type on price volatility in...
DETERMINANTS OF NON-PERFORMING LOANS IN LICENSED COMMERCIAL BANKS: EVIDENCE FROM SRI LANKA
This study investigates the determinant factors of ex-post credit risk considering non-performing loans (NPLs) as proxy variable in Sri Lanka?s commercial banking sector and is carried out with a sample of nine licensed...
IMAGINING ALTERNATIVE MODERNITY: NEGOTIATING ISLAMIC-NESS AND MALAY-NESS ON POPULAR TV FICTION
Malay cultural identity in Malaysia has historically been wrought by the contradictions inherent in its colonial discourses, and among the Malays themselves -a transition that was made possible by virtue of religion, lan...
A REGRESSION BASED APPROACH TO CAPTURING THE LEVEL DEPENDENCE IN THE VOLATILITY OF STOCK RETURNS
In this paper, we propose an alternative approach to work with the new covariance estimator Cov Ratio based on daily high-low prices that we had put forth in an earlier study (Lakshmi and Maheswaran, 2016). Using the GAR...
DETERMINANTS OF CAPITAL STRUCTURE OF BANKING SECTOR IN GCC: AN EMPIRICAL INVESTIGATION
This work attempts to identify determinants of capital structure in a sample of commercial banks listed on the Gulf Cooperation Council (GCC) stock markets. To achieve this objective, data about were collected from 47 GC...