unemployment and increase economic growth (Chukwu‚ 2011). It is with this knowledge that The UNESCO recommended that 26% of the annual budget be allocated to the Education sector and the agreement between the Federal Government and Staff unions on October 22‚ 2009 was also aimed at the improvement of the education sector. However in our study we would realize that a country like Nigeria has been operating below the
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Q.1 : Explain the meaning‚ importance and objectives of public expenditure. Ans. MEANING OF PUBLIC EXPENDITURE:- Public Expenditure refers to Government Expenditure. It is incurred by Central and State Governments. The Public Expenditure is incurred on various activities for the welfare of the people and also for the economic development‚ especially in developing countries. In other words The Expenditure incurred by Public authorities like Central‚ State and local governments to satisfy the collective
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(Paper) ISSN 2222-2839 (Online) Vol 3‚ No.9‚ 2011 www.iiste.org Government Expenditure and Economic Development: Empirical Evidence from Nigeria Muritala Taiwo Department of Economics and Financial Studies‚ Fountain University Osogbo‚ Nigeria Corresponding Author’s E-mail: muritaiwo@yahoo.com Tel: +2348034730332; +2347054979206 Taiwo Abayomi Department of Economics‚ Tai Solarin University of Education‚ Ijebu-Ode‚ Nigeria E-mail: yommy246@yahoo.com Tel: +2348055821802 Abstract This study attempts
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PUBLIC EXPENDITURE AND ECONOMIC GROWTH WHAT IS PUBLIC EXPENDITURE? MEANING: Public expenditure refers to Government expenditure i.e. Government spending. It is incurred by Central‚ State and Local governments of a country. Spending by government ‚ municipality‚ or any local authority. It covers things such as health‚ education or social services and is funded by tax revenue. It is one of the element that make up aggregate expenditure. Government spending or government expenditure is classified
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1. Introduction 2. Theoretical review a. The Nature and Classification of Public Expenditure b. Theories of Public Expenditure c. Causes\ Goals of Public Expenditure d. Effects Of Public Expenditure 3. Conclusion Introduction Economic theory postulates that government or the state has 5 basic functions: 1. Promotion of economic growth and development 2. Maintenance of price stability 3. Seek favourable balance of
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AN EXAMINATION OF THE VALIDITY OF WAGNER’S PUBLIC EXPENDITURE GROWTH AND ECONOMIC GROWTH IN NIGERIA (1990 – 2010). Introduction In the nineteenth century‚ public expenditure under the influence of the classical economists‚ played a limited role in economic activity. There was neither any sound classification of government expenditure nor any standard laid on which all such expenditures should be based. However‚ in the latter part of the nineteenth century‚ Wagner (1883) observed that there
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If unemployment rises in a country‚ will its standard of living necessarily decline? Unemployment refers to the condition and extent of joblessness within an economy‚ and is measured in terms of the unemployment rate‚ which is the number of unemployed workers divided by the total civilian labor force. If unemployment rises in a country it will affect the country’s standard of living in a negative way‚ take Jamaican economy for example‚ approximately 65% of the labour is unemployed‚ so if 65%
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Living in Canada vs. living in Nigeria Outline Paragraph 1: intro and thesis Thesis statement: There are a few similarities between Canada and Nigeria‚ but Nigeria differs from Canada in many ways. Paragraph 2: Topic sentence 1- the language and culture-collectivism and individualism Paragraph 3: Topic sentence 2- the wealth of both countries i.e. natural resources‚ agriculture (cash crops) Paragraph 3: Topic sentence 3- The government: - how well both of the countries manage their wealth and care
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2231-2463 (Print) Government Spending on Road Infrastructure and Its Impact on the Growth of Nigerian Economy 1 Nworji I. D.‚ 2Oluwalaiye O. B Dept. of Accounting‚ Babcock University‚ Ogun State‚ Nigeria Dept. of Economics‚ Banking and Finance‚ Babcock University‚ Ogun State‚ Nigeria 1 2 Abstract The study examined the impact of government spending on road infrastructure development on economic growth in Nigeria for the period 1980-2009. The study employed multiple regression analysis
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encyclopedia‚ Economic growth refers to the increase in the amount of goods produced by a country; this is a measure of the economic performance of the country while government expenditure is refered to as an outflow resources from government to other sectors of the economy‚ government expenditure (or government spending) includes all government consumption‚ investment but excludes transfer payments made by the state. Government expenditure is subdivided into recurrent and capital expenditures. Capital expenditure
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