IDEAS home Printed from https://ideas.repec.org/a/blg/msudev/v15y2023i2p73-79n9.html
   My bibliography  Save this article

Effect Of Formal Education On Poverty Reduction In Nigeria

Author

Listed:
  • BOLARINWA Taiwo Agosu

    (Department of Agricultural Economics, University of Abuja, Abuja, Nigeria)

Abstract

This study analyzes the impact of formal education on poverty reduction in Nigeria by studying the relationship between government expenditure on education, school enrolment, and labour force participation. It uses 30 years of annual time series data and employs various statistical methods, such as OLS regression, ADF test, Philip Peron unit root test, F-tests, and t-tests. Labour force participation serves as a proxy to understand how these macroeconomic variables affect poverty. The findings reveal that both school enrolment and government expenditure on education significantly affect labour force participation. Specifically, enrolment in secondary and tertiary education positively correlates with increased labour force participation. To enhance poverty reduction in Nigeria, the study proposes improving the effectiveness of government expenditure, enhancing access to quality secondary and tertiary education, fostering collaboration between education and businesses, and emphasizing vocational and technical education aligned with the labour market’s needs.

Suggested Citation

  • BOLARINWA Taiwo Agosu, 2023. "Effect Of Formal Education On Poverty Reduction In Nigeria," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 15(2), pages 73-79, December.
    • Handle: RePEc:blg:msudev:v:15:y:2023:i:2:p:73-79:n:9
    DOI: https://doi.org/10.54989/msd-2023-0018
    as

    Download full text from publisher

    File URL: https://msdjournal.org/wp-content/uploads/vol15issue2-9.pdf
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.54989/msd-2023-0018?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Thorvaldur Gylfason & Gylfi Zoega, 2003. "Education, Social Equality and Economic Growth: A View of the Landscape," CESifo Economic Studies, CESifo Group, vol. 49(4), pages 557-579.
    2. John F. Helliwell & Robert D. Putnam, 2007. "Education and Social Capital," Eastern Economic Journal, Eastern Economic Association, vol. 33(1), pages 1-19, Winter.
    3. World Bank, 2019. "World Development Report 2019 [Rapport sur le développement dans le monde 2019]," World Bank Publications - Books, The World Bank Group, number 30435, December.
    4. Gary S. Becker, 1994. "Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education, Third Edition," NBER Books, National Bureau of Economic Research, Inc, number beck94-1, July.
    5. Eisner, Robert, 1989. "The Total Incomes System of Accounts," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226196381, September.
    6. Elizabeth N. Appiah, 2017. "The Effect of Education Expenditure on Per Capita GDP in Developing Countries," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(10), pages 136-144, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eleni Giouli & Pisinas Yorgos & Anna-Maria Kanzola, 2021. "Human Capital and Production Structure: Evidence from Greece," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 7, January -.
    2. Mohamed Salem Ahmed Ibrahim Alhosani & Kamarul Bahari Yaakub, 2021. "Investigating the Relationship Between Total Quality Management and Primary School Academic Performance with Innovation as a Mediator Using SEM," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 7, January -.
    3. Marjan Entekhabi, 2023. "Human Capital in Developing Countries: Common Challenges and the Path Forward," Journal of Emerging Trends in Marketing and Management, The Bucharest University of Economic Studies, vol. 1(2), pages 18-29, July.
    4. Aribah Aslam, 2020. "The hotly debate of human capital and economic growth: why institutions may matter?," Quality & Quantity: International Journal of Methodology, Springer, vol. 54(4), pages 1351-1362, August.
    5. Ben White, 2021. "Human Capital Theory and the Defectology of Aspirations in Policy Research on Rural Youth," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 33(1), pages 54-70, February.
    6. Olukemi I. Lawanson & Dominic Ikoh Umar, 2021. "The life expectancy–economic growth nexus in Nigeria: the role of poverty reduction," SN Business & Economics, Springer, vol. 1(10), pages 1-26, October.
    7. Marina Dabić & Jane Maley & Leo-Paul Dana & Ivan Novak & Massimiliano M. Pellegrini & Andrea Caputo, 2020. "Pathways of SME internationalization: a bibliometric and systematic review," Small Business Economics, Springer, vol. 55(3), pages 705-725, October.
    8. Fan Li & Prashant Loyalka & Hongmei Yi & Yaojiang Shi & Natalie Johnson & Scott Rozelle, 2016. "Ability Tracking and Social Capital in China’s Rural Secondary School System," LICOS Discussion Papers 37916, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
    9. Wynne, Mark A., 1996. "Balanced budget multipliers," Journal of Macroeconomics, Elsevier, vol. 18(2), pages 197-211.
    10. Isaiah Olurinola & Romanus Osabohien & Bosede Ngozi Adeleye & Ifeoluwa Ogunrinola & Jacob Isaac Omosimua & Tyrone De Alwis, 2021. "Digitalization and Innovation in Nigerian Firms," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(3), pages 263-277, March.
    11. Samuel O. Okafor & Kenneth Jegbefumwen & Olisaemeka D. Maduka & Ambrose C. Okeke, 2016. "A Three-Factor Model of Inclusive, Sustainable and Resilient Economic Development for Developing Countries," Applied Economics and Finance, Redfame publishing, vol. 3(4), pages 57-72, November.
    12. Klaus Jaffe, 2015. "Agent based simulations visualize Adam Smith's invisible hand by solving Friedrich Hayek's Economic Calculus," Papers 1509.04264, arXiv.org, revised Nov 2015.
    13. Huffman, Wallace, 2004. "Marketizing U.S. Production in the Post-War Era: Implications for Estimating CPI Bias and Real Income from a Complete-Household-Demand System," Staff General Research Papers Archive 11987, Iowa State University, Department of Economics.
    14. Emiel L. Eijdenberg & Kathrin Borner, 2017. "The Performance Of Subsistence Entrepreneurs In Tanzania’S Informal Economy," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 22(01), pages 1-22, March.
    15. Philippe Aghion & Yann Algan & Pierre Cahuc & Andrei Shleifer, 2010. "Regulation and Distrust," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(3), pages 1015-1049.
    16. Ashis Kumar Pradhan & Gourishankar S Hiremath, 2020. "Do external commercial borrowings and financial development affect exports?," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1796269-179, January.
    17. Charles Ka Yui Leung & Joe Cho Yiu Ng & Edward Tang, 2020. "Why is the Hong Kong Housing Market Unaffordable? Some Stylized Facts and Estimations," Globalization Institute Working Papers 380, Federal Reserve Bank of Dallas.
    18. Helliwell, John & Huang, Haifang, 2011. "New measures of the costs of unemployment: Evidence from the subjective well-being of 2.3 million Americans," Working Papers 2011-3, University of Alberta, Department of Economics.
    19. Depta, Peter & Ravalli, Frank & Harding, Don, 1994. "Extended Measures of Investment and Saving," MPRA Paper 3319, University Library of Munich, Germany.
    20. Maciej Jagódka & Małgorzata Snarska, 2021. "The State of Human Capital and Innovativeness of Polish Voivodships in 2004–2018," Sustainability, MDPI, vol. 13(22), pages 1-20, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:blg:msudev:v:15:y:2023:i:2:p:73-79:n:9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Camelia Oprean-Stan (email available below). General contact details of provider: https://edirc.repec.org/data/feulbro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.