On the Relationship between Education Reforms and Sustainable Development: Evidence from Nigeria

2021 ◽  
Vol 10 (1) ◽  
pp. 57-78
Author(s):  
Oluwatosin Olatunji Oluyomi ◽  
Felix Odunayo Ajayi ◽  
Emmanuel O. George
Keyword(s):  
Sustainable Development ◽  
Education Reform ◽  
Negative Impact ◽  
Positive Impact ◽  
Education Reforms ◽  
Vector Error Correction ◽  
Environmentally Sustainable ◽  
Endogenous Growth Theory ◽  
Long Run ◽  
Short Run

Nigeria between 1980 and 2018 shows a mixed relationship between education reforms and sustainable development. In 2016, over 45 percent of Nigerian graduates are unemployed and about a 39.4 percent increase in education enrolment rate had resulted in stagnated economic sustainable development in Nigeria. Following the endogenous growth theory and the environmental Kuznets hypothesis underpinnings, this study investigated the cause and effect of education reforms and sustainable development in Nigeria between 1980 and 2018. The descriptive statistics employed describe the data distribution of the included variables while the vector error correction model (VECM) econometric technique was used to determine the short-run and long-run impact of education reforms on economic, social, and environmentally sustainable development in Nigeria. The results found that qualitative education reform has a positive impact on economic and environmentally sustainable development while quantitative education has a negative impact on socially sustainable development in the long run. Further, the short-run, VECM results revealed that qualitative education reforms will speedily affect economic, social, and environmentally sustainable development than the quantitative education reforms within the period of study. The study recommends that quantity and quality education reforms should be seen as complementary and not a substitute in achieving sustainable development by the year 2030 in Nigeria. 

The effectiveness of government expenditure on economic growth in Botswana

2019 ◽  
Vol 10 (3) ◽  
pp. 368-384 ◽  
Author(s):  
Kafayat Amusa ◽  
Mutiu Abimbola Oyinlola
Keyword(s):  
Economic Growth ◽  
Government Spending ◽  
Negative Impact ◽  
Positive Impact ◽  
Government Expenditure ◽  
Public Spending ◽  
Empirical Literature ◽  
Content Type ◽  
Long Run ◽  
Short Run

Purpose The purpose of this paper is to examine the relationship between government expenditure and economic growth in Botswana over the period 1985‒2016. The study employed the auto-regressive distributed lag (ARDL) bounds testing approach in investigating the nexus. The study makes the argument that the effectiveness of public spending should be assessed not only against the amount of the expenditure but also by the type of the expenditure. The empirical findings showed that aggregate expenditure has a negative short-run and positive long-run effect on economic growth. When expenditure is disaggregated, both forms of expenditures have a positive short-run effect on economic growth, whereas only a long-run positive impact of recurrent expenditure is observed. The study suggests the need to prioritize scarce resources in productive recurrent and development spending that enables increased productivity. Design/methodology/approach This study examined the effectiveness of government spending in Botswana, within an ARDL framework from 1985 to 2016. To achieve this, the analysis is carried out on both an aggregate and disaggregated level. Government spending is divided into recurrent and development expenditures. Findings This study examined the effectiveness of government spending in Botswana, within an ARDL framework from 1985 to 2016. To achieve this, the analysis hinged on both the aggregate and disaggregated levels. The results of the aggregate analysis suggest that total public expenditure has a negative impact on economic growth in the short run; however, its impact becomes positive over the long run. On disaggregating government spending, the results show that both recurrent and development expenditures have a significant positive short-run impact on growth; however, in the long run, the significant positive impact is only observed for recurrent expenditure. Practical implications The results provide evidence of the diverse effects of government expenditure in the country. In the period under investigation, 73 percent of total government expenditure in Botswana was recurrent in nature, whereas 23 percent was related to development. From the results, it can be observed that although the recurrent expenditure has contributed to increased growth and must be encouraged, it is also pertinent for the Botswana Government to endeavor to place more emphasis on productive development expenditure in order to enhance short- and long-term growth. Further, there is a need to strengthen the growth-enhancing structures and to prioritize the scarce economic resources toward productive spending and ensuring continued proper governance over such expenditures. Originality/value The study provides empirical evidence on the effectiveness of government spending in a small open, resource-reliant middle-income SSA economy and argues that the effectiveness of public spending must be assessed not only against the amount of the expenditure but also on the type or composition of the expenditure. The study contributes to the scant empirical literature on Botswana by employing the ARDL approach to cointegration technique in estimating the long- and short-run impact of government expenditure on economic growth between 1985 and 2016.

scholarly journals Asymmetric Relationships Between Information and Communication Technology (ICT), Globalization, and Human Development in India: Evidence From Non-Linear ARDL Analysis

2021 ◽  
Author(s):  
Jayanti Behera ◽  
Dukhabandhu Sahoo
Keyword(s):  
Human Development ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Positive Impact ◽  
Jel Classification ◽  
Annual Data ◽  
Long Run ◽  
Non Linear ◽  
Short Run ◽  
Asymmetric Relationships

Abstract The objective of the paper is to examine the asymmetric relationships between ICT, globalization, and human development in India by analyzing the annual data from 1991 to 2019 through the non-linear autoregressive distributed lag (NARDL) model. The result shows that positive and negative changes in globalization lead to a decline in human development in the long run, consistent with the literature. Further, a positive change in mobile density increases human development in the long run. A decline in internet density has a positive impact on human development in the long run, and it needs further investigation. In the short run, a positive shock in globalization with one lag has a positive impact on human development. Moreover, a previous year positive and negative shocks in internet density have a positive effect on human development while the previous two years positive and negative shocks in internet density have a negative effect on human development in the short run. It is also found that the global financial crisis 2008 has a negative impact on human development. Thus, it is suggested that India has to promote both globalization and ICT judiciously and consciously in order to improve the human development. JEL Classification: O47, F00, I32, C51

scholarly journals The Asymmetric Relationship Between Military Expenditure, Economic Growth and Industrial Productivity: An Empirical Analysis of India, China and Pakistan Via the NARDL Approach

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Aamir Syed
Keyword(s):  
Economic Growth ◽  
Negative Impact ◽  
Positive Impact ◽  
Research Work ◽  
Military Expenditure ◽  
Economic Policies ◽  
Long Run ◽  
Negative Effect ◽  
Short Run ◽  
Industrial Productivity

This research work aims to verify how military expenditure promotes economic growth and industrial productivity, as suggested by the Military Keynesianism postulate. The NARDL method is employed to achieve the above objective on the panel data of India, China, and Pakistan, covering the period between 1990 and 2018. The study finds that the positive and negative impact of military expenditure has a significant positive and negative effect on economic growth in the long run for China and India; however, in the short-run, only positive impact favors economic growth. Thus, there is a symmetric effect in the short-run and an asymmetric impact in the long-run. This asymmetric result supports the work of Military Keynesianism, helping policymakers in devising appropriate macro-economic policies.

scholarly journals Does Monetary Policy Affect Economic Growth in Jordan? Evidence from Ordinary Least Square Models

2018 ◽  
Vol 12 (1) ◽  
pp. 27
Author(s):  
Mohamed Ibrahim Mugableh
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Positive Impact ◽  
Least Square ◽  
Vector Error Correction ◽  
Ordinary Least Square ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run

The main objective of this paper is to analyze equilibrium and dynamic causality relationships between monetary policy tools and economic growth in Jordan for the period (1990-2017). For this purpose, it considers the autoregressive distributed lag (ARDL) and vector error correction (VEC) models estimations. The results of ARDL approach show that monetary policy variables (i.e., real interest rate and money supply) have positive impact on economic growth in long-run and short-run except inflation rate. In addition, the results of VECM indicate bidirectional causal relationships between economic growth and monetary policy variables in long-run and short-run.

scholarly journals Exploring the Linkage Between Financial Development and Economic Growth: the ARDL Bounds Testing approach

2021 ◽  
Author(s):  
Mohammad Abul Kashem ◽  
Mohammad Mafizur Rahman
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Negative Impact ◽  
Positive Impact ◽  
Bounds Testing ◽  
Development Indicators ◽  
Long Run ◽  
Short Run ◽  
Bounds Testing Approach ◽  
Ardl Bounds Testing Approach

Abstract This study investigates the cointegration, short and long run dynamics and causal links between financial development and economic growth in Bangladesh for the period 1973 to 2015. We applied the Autoregressive Distributed Lag (ARDL) Bounds Testing approach and the Granger causality test. The ARDL bounds tests and other cross-checking test confirmed the long run cointegration between economic growth and financial development indicators in Bangladesh. The two financial development indicators, growth in broad money to gross domestic product (GDP) ratio and growth in total deposit liabilities to GDP ratio appeared to have time variant impact on economic growth: the former having significant positive impact in the short- run but negative impact in the long- run, while the latter has significant negative impact in the short- run but positive impact in the long- run. The Granger causality analysis indicated a bidirectional, co-evolutionary process between financial development and economic growth.

scholarly journals Fragility of State in Central African Republic: An Econometric Approach to Efficiency Understanding

2018 ◽  
Vol 21 (3) ◽  
pp. 681-697
Author(s):  
Yapatake Kossele Thales Pacific
Keyword(s):  
Central African Republic ◽  
Negative Impact ◽  
Positive Impact ◽  
The State ◽  
Policy Implications ◽  
Long Run ◽  
Short Run ◽  
High Level ◽  
The Impact ◽  
Control Of Corruption

A fragile state contributes to the underdevelopment of the nation and its consequences can be very devastating on the state’s cohesion, characterized by a high level of corruption which led the country to an incessant political instability and the continuous presence of foreign troops. 1 This article used the vector autoregresssion (VAR) model covering the period of 2005–2015 to examine the impact of control of corruption on the fragility of the state in the Central African Republic (CAR). The results show that control of corruption is significant and has a negative impact on the fragility of the state in the short run. The impulse response shows a negative impact of control of corruption in the short run but a positive impact in the long run on the fragility of the state. The policy implications of this fragility are that the CAR must pursue better governance as well as in the investment choices. Unless the CAR leaders and citizens recognize their own fragility, things can only get worse.

scholarly journals The Influence of Price and Non-Price Factors on Acreage Response of Maize in Eswatini

2019 ◽  
pp. 38-42
Author(s):  
D. V. Dlamini ◽  
S. G. Dlamini ◽  
D. Akelrele ◽  
Q. Jele
Keyword(s):  
Climate Change ◽  
Negative Impact ◽  
Positive Impact ◽  
Positive Influence ◽  
Maize Production ◽  
Mitigation And Adaptation ◽  
Long Run ◽  
Resistant Varieties ◽  
Short Run ◽  
Error Correction Modeling

The study analyzes the acreage response of maize with respect to price and non-price factors in Swaziland during the period 1968-2017. Rainfall and agricultural policy are the non-price factors considered in this study. The Cointergration and Vector Error Correction Modeling approaches were used to estimate the short run and long run elasticities of price and non-price factors acreage response of maize in Eswatini. The results confirm that non-price factors seem to have more effect on acreage response in the long run. The introduction of the Maputo declaration policy in 2003 had not yeld the positive impact on maize annual acreage changes. The study also shows that climatological factors such as rainfall has a positive influence on maize production and resource allocation both in short and long run. Development of climate change mitigation and adaptation strategies would assist the maize production sector in the country. The strategies cannot affect natural conditions like rainfall, but it can compensate for the negative impact of climate change by increasing investment in irrigation, promoting efficient use of water and encouraging adoption of drought resistant varieties of seeds.

IMPACT OF GOVERNMENT SPENDING ON INFLATION IN ASIAN EMERGING ECONOMIES: EVIDENCE FROM INDIA, CHINA, AND INDONESIA

2016 ◽  
Vol 64 (05) ◽  
pp. 1171-1200 ◽  
Author(s):  
TAI DANG NGUYEN
Keyword(s):  
Emerging Economies ◽  
Government Spending ◽  
Time Series Data ◽  
Negative Impact ◽  
Positive Impact ◽  
Causal Link ◽  
Series Data ◽  
Institutional Governance ◽  
Long Run ◽  
Short Run

This paper investigates the long-run and short-run impacts of government spending on inflation in three Asian emerging economies of India, China and Indonesia by applying the cointegration and Vector Error Correction Model to time series data from 1970 to 2010. The results confirm a cointegrating causal link between government spending and inflation in the long run in these countries, regardless of their institutional governance differences. In the short run, government spending (as a percentage of GDP) appears to have a negative impact on inflation in China, while a positive impact in Indonesia and India. The implication is that governments of emerging economies should be prudent with their decisions on government spending.

scholarly journals Economic Determinants of Unemployment in Malaysia: Short – and Long – Run Causality

2021 ◽  
Vol 11 (1) ◽  
pp. 251
Author(s):  
Jason Freedline Baba ◽  
Dayang Haszelinna Binti Abang Ali
Keyword(s):  
Time Series Data ◽  
Negative Impact ◽  
Positive Impact ◽  
Series Data ◽  
Impulse Response Functions ◽  
Macroeconomic Factors ◽  
Long Run ◽  
Integration Test ◽  
Short Run ◽  
Determinants Of Unemployment

The problem of unemployment has become a worrisome issue over the past few years as it is growing at an alarming state in many countries throughout the world particularly in developing countries such as Malaysia. There are numerous factors that cause this phenomenon. Therefore, the aim of this study is to empirically investigate the determinants of unemployment in Malaysia as well as the relationship between unemployment and the chosen fundamental macroeconomic factors such as gross domestic product, foreign direct investment, inflation, and population. This study utilized the annual time series data of 31 year period starting from the year 1985 to the year 2015. The methodology of econometric analysis have been applied in this study such as unit root tests, co-integration test, vector error correction model, variance decompositions, and impulse response functions analysis. The findings showed that there are presences of short run causality among the variables and also a presence of long run only when population act as the dependent variable in the model. Besides, the findings indicate that GDP has a significant negative impact whereas FDI has a significant positive impact on unemployment in Malaysia. Overall, the conclusion of this study suggests that demand side policies and supply side policies are the most excellent and suitable approach in overcoming the problem of unemployment in Malaysia.

scholarly journals A Quantitative Assessment of the Role of the Private Sector in Economic Diversification in UAE

2019 ◽  
Vol 11 (4) ◽  
pp. 23
Author(s):  
Radwa Radwan Said
Keyword(s):  
Private Sector ◽  
United Arab Emirates ◽  
Negative Impact ◽  
Positive Impact ◽  
Trade Openness ◽  
Economic Diversification ◽  
Long Run ◽  
Domestic Credit ◽  
Short Run ◽  
The Government

The United Arab Emirates (UAE) has often been addressed as a success case in the GCC region due to its implemented policies that spurred growth and development with a market-friendly approach. This study aims to investigate the relationship between economic diversification and private sector development. For this, we employed an ARDL con-integration method to check the long run as well as short run relationship between variables. We found that the domestic credit to private sector has a positive relationship with diversification index. Also, domestic credit to private sector (DCPS) percentage of GDP has both short and long run relationship with economic diversification index. The results indicate that the domestic credit to private sector will promote the economic diversification in both the short and long runs. Moreover, the government infrastructure will also promote economic diversification in the long run but not in the short run. The trade openness has a negative impact on economic diversification in the long run, but it has a positive impact in the short run.

Sign in / Sign up

Export Citation Format

Share Document