SHORT-RUN EFFECT OF ESTABLISHMENT OF EDUCATIONAL INSTITUTION ON ECONOMIC GROWTH IN NIGERIA (1991-2013)

SHORT-RUN EFFECT OF ESTABLISHMENT OF EDUCATIONAL INSTITUTION ON ECONOMIC GROWTH IN NIGERIA (1991-2013)
Abstract
This research project critically
dealt with the short-run effect of establishment of educational institution on
economic growth in Nigeria between (1991-2013).
The study was
set out to examine the contribution of establishment of primary schools, and
secondary schools to economic growth in Nigeria.  Data was acquired from central bank of
Nigeria bulletin and office of National Bureau Statistic. A simple multiple regression
technique was used to analyses the data. The result showed that the
establishment of primary schools have positive impact on economic growth while
the establishment of secondary schools have negative impact on economic growth.
Based on this, recommendation was made that government should set-up a monitoring committee for the supervision of
construction or establishment of
institutions, in order to avoid embezzlement of the fund budgeting into this
aspect of
education, also government
should allow the private individual to be involved in establishing secondary
institutions for more proper management.

Table of contents
Title page                                                                                
Approval page                                                                      
Certification                                                                                     
Dedication                                                                              
Acknowledgement                                                                            
Abstract                                                                                  
Table of content                                                                     
Chapter one
 Introduction                                                                        
Background of the study                                                                  
Statement of the problem                                                                 
Objective of the study                                                           
Research questions                                                                 
Statement of the hypothesis                                                   
Significance of the study                                                                  
Scope of the study                                                                          
Chapter two
 Literature review                                                                  
Introduction                                                                      
Theoretical literature                                                               
Economic growth model                                                                 
Harrod growth model                                                             
Domar growth model                                                             
Comparative study of the two models
point of similarity      
Application of Harrod-Domar growth
model                        
Education and economic growth                                          
The social service sector in Nigeria                                                
Structure of education in Nigeria                                         
Quantitative implication                                                                  
Educational policy and administration
                                 
Secondary education                                                              
Chapter three
Methodology                                                                          
Research design                                                                      
Sources of data                                                                       
Model specification                                                          
A  priori expectation                                                              
Estimation techniques                                                            
Method of data analysis                                                      
Chapter four
Result and discussion                                                              
Introduction                                                                                     
Presentation of result                                                             
Interpretation of result                                                           
Chapter five
Summary, conclusion and
Recommendation                                   
Summary                                                                                
Conclusion                                                                             
Recommendation                                                                    
References                                                                              
Appendices                                                                            
CHAPTER ONE
Introduction
Background of the study
          This study sets out to systematically
and analytically examine the effect of establishment of educational institution
on economic growth in Nigeria.
Establishment of educational institution is one of the crucial areas to develop
economy. Economic development is not possible without education. As Myrdal says
“To start on national development programme while leaving the population
largely illiterate seems to meet be futile for economic development, it is the  quality of labour that is more important,
unskilled workers, even working for long hours, will have low per capital
income. Illiterate and untrained person cannot be expected to operate and
maintain complex machinery. It is by investing in them that their productivity
can be increased. It is through public education that the state can increase
the effective labour supply and hence the productive capacity of the nation. An
education programme has to be wide and varied. There is need for primary
education, so that every child for school going age may receive compulsory
education. In order to provide material for the universities and to be opened.
At the same time, training institutions are needed, for imparting instruction
to machines, electricians, artisans, nurse, teachers, agricultural assistance
etc. In the education echelon and the university education and research
institution for turning out ever increasing number of doctors, administrators,
engineers and all types of trained personnel” programme of education lie at the
base of common citizenship to harness the energies of the people and develop
the nation and human resource of every part of the country.
          The success of economic policies
promoting international competitiveness and sustained development in the final
analysis hinder to a larger extent on the Adrian (1990) that not will stand
Nigeria has already recognized the need of educational development in her
economic advancement and as such has made several attempts at expanding her
education system. Prominent economist identified education as the most powerful
instrument for social reforms, which impart knowledge, skills and experimental
activity.
Statement of the problem
          Education is most desirable for our
economy. Therefore education should be promoted at all levels. Higher level of
man power production will provide the much required skilled labour needed in
the society. The Federal government of Nigeria with regard to this fact,
over the years had made various attempts in expanding the education system at
all level especially at tertiary institution. This is to ensure that
availability of a well educated labour to solve the problem of death of skilled
man-power for certain jobs in the economy. Education as a key to capital
formation according to “singer” which categories capital formation as tangible
good, like high standards of education, scientific traditional and research.
Education is met to solve the problem of illiteracy which increase the capital
formation.
Objectives of the study
i.                  
To find out the factors responsible for
the increment of economic growth in Nigeria.
ii.                
 To verify, if economic growth can largely
contribute to expansion in education.
iii.             
To evaluate the effects of establishment
institution in Nigeria.
Research Questions
i.                  
What are the factors responsible for the
increment of economic growth in Nigeria?
ii.                
What are the economic growth
contributions to expansion in education?
iii.             
What are the evaluation effects of
established institution in Nigeria?
Research Hypothesis
Null
hypothesis (Ho)
No
definite relationship exists between establishment of educational institutions
and economic growth.
Alternative
hypothesis (H1)
A
definite relationship exists between establishment of educational institutions
and economic growth.
Significance of the study
          Taking into consideration the
establishment of educational institutions in Nigeria, on economic growth and
development of entrepreneurial skills and initiative should be of paramount
importance especially at the tertiary level of education in order to facilitate
employees ability to graduates who will increasingly be called upon to be not
only urban seekers, but above all to become urban job seekers.
          In this regard the essence of this
study is to create awareness and to enlighten prominent Nigerians institutions
of learning, government and the reader need to facilitate the acquisition of
skills, competencies and abilities which are likely to stand the graduates of Nigeria
universities.
Scope of the study
          The study will cover a period of
twenty three years precisely the period will between (1991-2013) inclusively.
          Though there are factors which
influence economic growth like labour force, investment and capital formation,
the study will be restricted to educational factors.
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