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
Certification
Dedication
Acknowledgement
Table
of content
Abstract
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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