Nigerian Economic Society
Hi Guest,
Home | Paper Submission | Signup |
      
Providing intellectual leadership in economic management in Nigeria
DEFENCE SPENDING AND ECONOMIC GROWTH, 1970-2015: Empirical Evidence

DEFENCE SPENDING AND ECONOMIC GROWTH, 1970-2015: Empirical Evidence

 

Abstract: This paper investigates the relationship between defence expenditure and economic growth in Nigeria 1970-2015 proxied by gross domestic product (GDP), social sector expenditure (SSE) and gross capital formation (GCF). Defence expenditure being a major concern to any economy world has become a major tool in accessing the level of economic growth, particularly in Nigeria where defence expenditure is higher than that of education and capital expenditure. The result indicated that the coefficient of interaction between social sector expenditures (SSE) and defence expenditure in the long run is negative and significant, given the coefficient of about -0.09 with corresponding p-values of 0.0372, which is less than 5% critical value. The implication of this is that the interaction of DEXP with SSE produced significant effect on the national output, GDP. It crowded out investment in the social sector, such as education and healthcare in the long run. In this case, the price of insecurity is the dearth of infrastructure. Based on the findings, the paper recommended government should reduce expenditures on the military to discourage the crowding out of funds for local investments.

JEL Classification: E62, H56, O47

Price: N500.00 | Add to cart
 

 

 

Login

Forget password? | Signup for Free!
Note: You must signup your email and create a password before you can register as an NES member
 

Latest News

63rd ANNUAL CONFERENCE ANNOUNCEMENT: CALL FOR ABSTRACTS

63rd ANNUAL CONFERENCE ANNOUNCEMENT 26 - 30 September 2022 Venue: Kano, Kano State, Nigeria ...read more


NEW EXECUTIVE COUNCIL OF THE NIGERIAN ECONOMIC SOCIETY

At the end of the Annual General Meeting (AGM) during the 62nd Annual Conference of the Society held...read more


NES 2021 PhD THESIS PRIZE AWARD WINNERS

Winners of the 2021 NES PhD Thesis Award Prize in Economics. 1st Prize - Shitile, Tersoo Shimonka...read more


Vacancy! Vacancy!! Vacancy!!!

The Nigerian Economic Society (NES) is looking for a highly qualified candidate who will fill the fo...read more


2021 Annual Conference Call for Nominations into the New Executive Council of the Nigerian Economic Society (NES)

At the Business Session of the 2021 Annual Conference of the NES which comes up in October 2021 both...read more


NES 2021 PhD THESIS PRIZE AWARD: Call for Submissions

NES PhD THESIS PRIZE AWARD: Call for Submissions The Executive Council of the Nigerian Economic So...read more


E-Mail Subscription

VoguePayVisaMasterCard