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Socio-Economic Indicators And Economic Growth: A Study Of Nigeria And South Africa

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  • Olabode Eric Olabisi

    (Department of Economics, Faculty of Humanities, Social and Management Sciences, Elizade University, Ilara-Mokin, Ondo State, Nigeria)

  • Usenobong James Effiong

    (Department of Economics, Faculty of Humanities, Social and Management Sciences, Elizade University, Ilara-Mokin, Ondo State, Nigeria)

Abstract

The research on the determinants of economic growth has taken a new dynamic pattern in the recent times. More studies are now explaining the need to better consider the socio-economic indicators that promote economic growth across the globe. Hence, this paper examined the relationship between socio-economic indicators and economic growth in both Nigeria and South Africa covering the period 1999-2020. Ordinary Least Squares (OLS) estimation technique was employed. The results of the study show that secondary school enrollment and employment are positive and significant in driving the economic growth of both Nigeria and South Africa. However, inflation and mortality rate reduce economic growth in both countries. But in South Africa, life expectancy reveals a negative impact on economic growth. The empirical outcomes of the study can be used by the government to formulate policies that can promote human capital development and employment creation. It can also assist the government in formulating monetary policies that can reduce the outburst of inflation.

Suggested Citation

  • Olabode Eric Olabisi & Usenobong James Effiong, 2023. "Socio-Economic Indicators And Economic Growth: A Study Of Nigeria And South Africa," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 8(1), pages 72-81, March.
    • Handle: RePEc:ora:jrojbe:v:8:y:2023:i:1:p:72-81
    DOI: http://doi.org/10.47535/1991ojbe166
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    More about this item

    Keywords

    SERVQUAL; service quality; expectations; perceptions; Internet service providers; Jordan;
    All these keywords.

    JEL classification:

    • B55 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Social Economics
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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