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Social Investment and Sustainable Economic Development

Author

Listed:
  • Akinyele Akinwumi Idowu*

    (Department of Economics, Adeleke University Ede, Osun State, Nigeria)

  • Rebecca Folake Bank-Ola

    (Department of Economics, Adeleke University Ede, Osun State, Nigeria)

  • Nureni Adekunle Lawal

    (Department of Management and Accounting, Ladoke Akintola University of Technology Ogbomosho, Nigeria)

Abstract

Incidence of poverty, budget cuts and under development in Nigeria calls for a rethink on the economic planning and social policies if we really want to see sustainable economic development. This is informed by the increasing widening gap that has developed overtime between the rich and the poor, and between rural areas and urban areas. It seems that government’s provisions are either not enough or failing, this study will want to take a deep look into the system and provide an alternative way out to ensure and foster cooperation and sustainable economic development in Nigeria. To do these, the study evaluates the impact of rural road constructions; unemployment and school enrolment on Poverty Index and Gross Domestic Product. Secondary data was collected from reliable and authentic sources and these were analyzed by multivariate regression. The result obtained show that Expenditure on Rural Roads (ERC) (? = -4.177, t-statistic = -1.257; P>0.05), Unemployment Rate (UR) (? = -0.018, t-statistic = -0.035; P>0.05) and School Enrolment (SE) (? = 0.086; t-statistic = 0.721; P>0.05) were insignificant independent predictors of Poverty Index. - PI = 62.731-4.177ERC-0.018UR+0.086SE. Also Expenditure on Rural Roads (ERC) (? = -14.452, t-statistic = -0,265; P>0.05) and Unemployment Rate (UR) (? = -11.644, t-statistic = -1.427; P>0.05) were insignificant independent predictors of Gross Domestic Product while School Enrolment (SE) (? = 6.424; t-statistic = 3.275; P

Suggested Citation

  • Akinyele Akinwumi Idowu* & Rebecca Folake Bank-Ola & Nureni Adekunle Lawal, 2018. "Social Investment and Sustainable Economic Development," Business, Management and Economics Research, Academic Research Publishing Group, vol. 4(6), pages 66-74, 06-2018.
    • Handle: RePEc:arp:bmerar:2018:p:66-74
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    References listed on IDEAS

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    2. Shahidur R. Khandker & Zaid Bakht & Gayatri B. Koolwal, 2009. "The Poverty Impact of Rural Roads: Evidence from Bangladesh," Economic Development and Cultural Change, University of Chicago Press, vol. 57(4), pages 685-722, July.
    3. Bloom, David E. & Canning, David & Sevilla, Jaypee, 2004. "The Effect of Health on Economic Growth: A Production Function Approach," World Development, Elsevier, vol. 32(1), pages 1-13, January.
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