Open AccessPublic expenditure and economic growth in a petroleum-based economy: Nigeria 1960-1992
Author(s) -
Akpan H. Ekpo
Publication year - 1999
Publication title -
suid-afrikaanse tydskrif vir ekonomiese en bestuurswetenskappe/south african journal of economic and management sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.277
H-Index - 17
eISSN - 2222-3436
pISSN - 1015-8812
DOI - 10.4102/sajems.v2i3.2586
Subject(s) - investment (military) , government (linguistics) , public expenditure , private sector , government expenditure , government spending , agriculture , public investment , petroleum , economics , crowding out , economic growth , business , economic policy , public economics , market economy , public finance , public fund , macroeconomics , political science , ecology , paleontology , philosophy , linguistics , politics , biology , welfare , law
The study analyses the contribution of government expenditure to the economic growth process in Nigeria over the period 1960-1992. The results indicate that public expenditures on transport, communication and agriculture crowd-in private investment, while public spending on manufacturing and construction crowd-out private investment. Also, expenditures on education and health have a positive influence on private sector investment. Government must continue to perceive the creation of an enabling environment, at the least, as its own contribution to the economic growth process.