The Developmental Implications of Nigeria’s Public Spending: An ARDL Analysis

The Developmental Implications of Nigeria’s Public Spending: An ARDL Analysis

Registration ID: IJNRD_196010

Published ID: IJNRD2305569

DOI: Click Here to Get

Dr. Aniefiok Benedict Udo , Dr. Boniface Linus Akpan , Dr. Oniko Ndoma Nsor

Developmental state, Government Expenditure, Bound Test, Causality, Economic Development

In the context of a developmental state, fiscal policy is still widely recognized as a potent tool for enhancing growth, redistributing income, and reducing poverty in an economy. Whereas the growth and development of the Nigerian economy have not been stable over the years as a result, the country's economy has witnessed so many shocks and disturbances both internally and externally over the decades. There exists a consensus in the literature that an adequate and effective macroeconomic policy is critical to any successful development process aimed at achieving high employment, sustainable economic growth, and price stability. Is the Nigerian government a developmental state? In an attempt to answer this question, this study examined the short and long-run impact of public expenditure on economic development in Nigeria from 1980 to 2020. Specifically, it seeks to determine the nature and direction of causality between government spending and economic development. The study employs the pairwise Granger causality technique and Autoregressive distributed lagged (ARDL) model to evaluate the empirical evidence of the impact of public expenditure on economic development, measured by poverty level in Nigeria. After testing for Granger causality, the result reveals that there is a bidirectional relationship between government spending and economic development in Nigeria. Also, the analysis showed that there is a long-run relationship between public expenditure and economic development in Nigeria. Based on these findings, the study concludes that the Federal Government should ensure increased interventions in key sectors of the economy concerning government spending knowing that it affects the level of economic development. Therefore, this study recommends that to achieve sustainable economic development in Nigeria, Government expenditure should be increased in the health, education, and agricultural sectors in the economy

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"The Developmental Implications of Nigeria’s Public Spending: An ARDL Analysis", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.8, Issue 5, page no.f449-f462, May-2023, Available :https://ijnrd.org/papers/IJNRD2305569.pdf

Volume 8 Issue 5, May-2023

Pages : f449-f462

Paper Reg. ID: IJNRD_196010

Published Paper Id: IJNRD2305569

Downloads: 000121109

Research Area: Social Science and Humanities 

Country: Uyo, Akwa Ibom State, Nigeria

Published Paper PDF: https://ijnrd.org/papers/IJNRD2305569.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2305569

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJNRD (IJ Publication) Janvi Wave

This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition

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