Does Education matter for inclusive Growth? The Nigerian Case
Keywords:
education, enrolment, literacy rate, inclusive growth, NigeriaAbstract
This study examines the role of education in enhancing inclusive growth in Nigeria for the period 1980 to 2014. The study utilizes the Dynamic Error Correction model and the results show that tertiary enrolment positively and significantly enhanced average income, while secondary enrolment and literacy rate positively, but insignificantly, enhanced per capita GDP. Also, tertiary enrolment and secondary enrolment negatively and significantly enhanced unemployment, but literacy rate positively impacts unemployment confirming the existence of graduate unemployment in Nigeria. Skills development programmes are therefore recommended to be incorporated into the education system in order to increase economic growth participation and benefit sharing with a view to promoting inclusive growth in Nigeria.References
Adedeji, O. S., Du, H., Opoku-Afari, M. (2013). Inclusive Growth: An Application of the Social Opportunity Function to Selected African Countries. IMF Working Paper, WP/13/139.
Ali, I. (2007a). Pro-Poor to Inclusive Growth: Asian Prescriptions. EDPR Policy Brief N#4S, Asian Development Bank, Manila.
Ali, I. (2007b). Inequality and the imperative for Inclusive Growth in Asia. Asian Development Review, 24(2): p.1-16.
Ali, I., Son, H. (2007). Defining and Measuring Inclusive Growth: Application to the Philippines. ERD Working Paper Series No. 98. ADB, Manila.
Ali, I., Zhuang, J. (2007). Inclusive Growth toward a Prosperous Asia: Policy Implications. ERD Working Paper No. 97. ADB, Manila.
Anand, R., Mishra, S., Peiris, S. J. (2013). Inclusive Growth: Measurement and Determinants. IMF Working Paper, WP/13/135.
Barro, R. L. (1991). Economic Growth in a Cross Section of countries. Quarterly Journal of Economics, 106; p. 407-443.
Benos, N., Zotou, S. (2014). Education and Economic Growth: A Meta-Regression Analysis. World Development, 64: p. 669 - 689.
Berg, A., Ostry, J. D. (2011). Inequality and Unsustainable Growth: Two Sides of the Same Coin? IMF Staff Discussion Note 11/08 (Washington: International Monetary Fund).
Bhargava, A. (2008). Globalization, Literacy Levels, and Economic Development. UNU World Institute for Development Economics Research. Research Paper No. 2008/04.
Bohm, S., Grossmann, V., Steger, T. M. (2015). Does Expansion of Higher Education Lead to Trickle-Down Growth? Journal of Public Economics, 132: p. 79 – 94.
Bouma, J., Berkhout, E. (2015). Inclusive Green Growth. PBL Netherlands Environmental Assessment Agency. PBL publication number: 1708.
CAFOD (2014) “What is Inclusive Growth.†CAFOD, London.
Dercon, S. (2012). Is green growth good for the poor? World Bank Policy Research Paper. World Bank, Washington D.C.
Glewwe, P., Maiga, E., Zheng, H. (2014). The Contribution of Education to Economic Growth: A Review of the Evidence, with Special Attention and an Application to Sub-Saharan Africa. World Development. 59: p. 379–393.
Holm, T., Sammalisto, K., Vuorisalo, T. (2015). Education for Sustainable Development and Quality Assurance in Universities in China and the Nordic Countries: A Comparative Study. Journal of Cleaner Production, 107; p. 529-537.
Holmes, R., Akinrimisi, B., Morgan, J., Buck, R. (2012). Social protection in Nigeria: Mapping programmes and their effectiveness. Overseas Development Institute.
Islam, N. (1995). “Growth Empirics: A Panel Data Approachâ€, Quarterly Journal of Economics, 110(4): p. 1127-1170.
Kraay, A. (2004). When is Growth Pro-Poor? Cross-Country Evidence. IMF Working Paper 04/47 (Washington: International Monetary Fund).
Lucas, R. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22 (2): p. 3-42.
Manafi, I., Marinescu, D. E. (2013). The Influence of Investment in Education on Inclusive Growth: Empirical Evidence from Romania vs EU. Procedia-Social and Behavioural Sciences, 93: p. 689 – 694.
Mankiw, N. G., Romer, D., Weil, D. N. (1992). A contribution to the empirics of economic growth. The Quarterly Journal of Economics. 107(2): p. 407-437.
Mariana, D. R. (2015). Education as a Determinant of the Economic Growth: The Case of Romania. Procedia-Social and Behavioural Sciences. 197: p. 404 – 412.
McDonald, S., Roberts, J. (2002). Growth and multiple forms of human capital in an augmented Solow model: a panel data investigation. Economic Letters, 74(2): p. 271-276.
McKinley, T. (2010). Inclusive Growth Criteria and Indicators: An Inclusive Growth Index for Diagnosis of Country Progress. ADB Sustainable Development WP series No.14.
OPEC (2014). Annual Statistical Bulletin. Available at https://www. opec.org/opec_web/static_files project/ASB2014.pdf. Accessed January 15th, 2016.
Romer, P. (1986). Increasing Returns and Long-Run Growth. Journal of Political Economy, 94: p. 1002-1037.
Romer, P. (1990). Endogenous Technological Change. Journal of Political Economy, 98(5): p. 71-103.
Schultz, T. W. (1971). Investment in Human Capital: The Role of Education and of Research. New York, Free Press.
Schumacher, E. F. (1973). Small is Beautiful. A study of Economics as if People Mattered. London, Blond and Briggs.
Suryanarayana, M. H. (2013). Inclusive Growth: A Sustainable Perspective. Indira Gandhi Institute of Development Research Goregaon East, Mumbai 400 065, INDIA.
Tandi, L. (2013). Education as the key factor of Smart and Inclusive Growth – the changing Education Policy of Hungary compared to Europe 2020 Strategy. A paper presented at International Conference of Active Citizenship by Management, Knowledge Management and Innovation, knowledge and learning, 19-21 June; Zadar, Croatia, p. 765-770.
Tilak, J. B. G. (2007). Inclusive Growth and Education: On the Approach to the Eleventh Plan. Economic and Political Weekly, 42 (38): p. 3872-3877.
World Bank (2006). India: Inclusive Growth and Service Delivery: Building on India's Success. Development Policy Review, Report No 34580-1N, Washington DC.
