Education Journal, Vol. 1, Issue 3, Sep  2018, Pages 100-110; DOI: 10.31058/j.edu.2018.13007 10.31058/j.edu.2018.13007

Relationship between Educational Expenditure and Unemployment rate on Economic Growth in Nigeria

, Vol. 1, Issue 3, Sep  2018, Pages 100-110.

DOI: 10.31058/j.edu.2018.13007

Samson Agboola 1* , Inusa Musa 2 , Zubairu Ibrahim 1

1 Directorate of Postgraduate Diploma in Education, Federal College of Education, Zaria, Kaduna State, Nigeria

2 Department of Geography, Federal College of Education, Zaria, Kaduna State, Nigeria

Received: 7 July 2018; Accepted: 27 August 2018; Published: 16 October 2018

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Abstract

This paper work on relationship between Educational Expenditure and Unemployment rate on Economic Growth in Nigeria using a yearly data from 1970 to 2017 years from the website of CBN and NBS. The aim of the paper is to investigate individual relationship with respect to Economic Growth and also considered the multiple regressions with respect to Economic Growth. From the descriptive statistic, it shows that the distributions of the dataset are positively skewness to the right and the distribution of the variables is exhibit high kurtosis which evidence of leptokurtic. The Jarque-Bera statistic shows very high values with it probability values indicating that the distribution on Gross Domestic Product (GDP), Educational Expenditure (EE) and Unemployment Rate (UR) are not normally distribution. The result of the correlation shows that there is a positive relationship between educational expenditure, unemployment rate and Gross Domestic product in Nigeria. The regression results show that there is a significant relation between GDP and EE, we therefore reject the null hypothesis that conclude that there is relationship. The coefficient of EE is obtained to be 1.15E-05 which is positive and the probability value is significant meaning that Educational expenditure has great impact on economic growth that a unit increase in GDP will increase the output of educational expenditure to a positive increase and also between EE and UR on Economic Growth shows that both the independent variables has positive impact on the dependent variable (GDP), we therefore reject the null hypothesis and conclude that there is a significant relationship between GDP and EE and UR. The coefficient of EE is obtained to be 1.05E-05 and UR is 717.6737. This result shows that an increase in GDP will increase EE in a small significant increases while that of UR, will increase unemployment rate to a high significant amount of 718%.

Keywords

Educational Expenditure, Unemployment, Regression, Correlation

Copyright

© 2017 by the authors. Licensee International Technology and Science Press Limited. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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