Socio-economic governance and economic growth in Nigeria
Purpose – The study examines the impact of socio-economic governance on economic growth in Nigeria. It measures socio-economic governance from the perspective of fiscal policy, using indicators such as investment in education, research and development (R&D) and health. Design/methodology/approa...
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2025-04-01
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| Series: | Journal of Business and Socio-Economic Development |
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| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/JBSED-03-2023-0019/full/pdf |
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| author | Olalekan Charles Okunlola Imran Usman Sani Olumide Abiodun Ayetigbo |
| author_facet | Olalekan Charles Okunlola Imran Usman Sani Olumide Abiodun Ayetigbo |
| author_sort | Olalekan Charles Okunlola |
| collection | DOAJ |
| description | Purpose – The study examines the impact of socio-economic governance on economic growth in Nigeria. It measures socio-economic governance from the perspective of fiscal policy, using indicators such as investment in education, research and development (R&D) and health. Design/methodology/approach – This study employs the Autoregressive Distributive Lag (ARDL) Bound Testing method to achieve its objective. Findings – The study finds that socio-economic policies aimed at increasing investment in education are crucial for Nigeria’s long-term economic growth. Additionally, investment in R&D positively impacts economic growth. However, the study reveals that investment in health negatively affects economic growth in Nigeria in the long run. This suggests that if a country overinvests in health, it may divert resources from other vital sectors such as education, infrastructure and R&D, which can hinder overall economic growth. The short-run parameter is, however, not statistically significant in this study. Originality/value – The study’s originality lies in its exploration of the relationship between socio-economic governance and economic growth in Nigeria, specifically from a fiscal policy perspective. It highlights the importance of investing in education and R&D for long-term economic growth. Additionally, the finding that overinvestment in health may have a negative impact on long-term economic growth provides valuable insight for policymakers in Nigeria and other developing countries. Overall, this study’s findings can be beneficial for policymakers and researchers interested in the intersection between socio-economic governance and economic growth in developing countries. |
| format | Article |
| id | doaj-art-864c1e27f89e495095cdb67f944e80a2 |
| institution | DOAJ |
| issn | 2635-1374 2635-1692 |
| language | English |
| publishDate | 2025-04-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Journal of Business and Socio-Economic Development |
| spelling | doaj-art-864c1e27f89e495095cdb67f944e80a22025-08-20T02:50:00ZengEmerald PublishingJournal of Business and Socio-Economic Development2635-13742635-16922025-04-015218720310.1108/JBSED-03-2023-0019Socio-economic governance and economic growth in NigeriaOlalekan Charles Okunlola0Imran Usman Sani1Olumide Abiodun Ayetigbo2Department of Defence and Security Studies, Institute for Peace and Conflict Resolution, Abuja, NigeriaInstitute for Peace and Conflict Resolution, Abuja, NigeriaDepartment of Business Administration, National Open University of Nigeria, Abuja, NigeriaPurpose – The study examines the impact of socio-economic governance on economic growth in Nigeria. It measures socio-economic governance from the perspective of fiscal policy, using indicators such as investment in education, research and development (R&D) and health. Design/methodology/approach – This study employs the Autoregressive Distributive Lag (ARDL) Bound Testing method to achieve its objective. Findings – The study finds that socio-economic policies aimed at increasing investment in education are crucial for Nigeria’s long-term economic growth. Additionally, investment in R&D positively impacts economic growth. However, the study reveals that investment in health negatively affects economic growth in Nigeria in the long run. This suggests that if a country overinvests in health, it may divert resources from other vital sectors such as education, infrastructure and R&D, which can hinder overall economic growth. The short-run parameter is, however, not statistically significant in this study. Originality/value – The study’s originality lies in its exploration of the relationship between socio-economic governance and economic growth in Nigeria, specifically from a fiscal policy perspective. It highlights the importance of investing in education and R&D for long-term economic growth. Additionally, the finding that overinvestment in health may have a negative impact on long-term economic growth provides valuable insight for policymakers in Nigeria and other developing countries. Overall, this study’s findings can be beneficial for policymakers and researchers interested in the intersection between socio-economic governance and economic growth in developing countries.https://www.emerald.com/insight/content/doi/10.1108/JBSED-03-2023-0019/full/pdfSocio-economic governanceNigeriaEconomic growthARDL bound testing |
| spellingShingle | Olalekan Charles Okunlola Imran Usman Sani Olumide Abiodun Ayetigbo Socio-economic governance and economic growth in Nigeria Journal of Business and Socio-Economic Development Socio-economic governance Nigeria Economic growth ARDL bound testing |
| title | Socio-economic governance and economic growth in Nigeria |
| title_full | Socio-economic governance and economic growth in Nigeria |
| title_fullStr | Socio-economic governance and economic growth in Nigeria |
| title_full_unstemmed | Socio-economic governance and economic growth in Nigeria |
| title_short | Socio-economic governance and economic growth in Nigeria |
| title_sort | socio economic governance and economic growth in nigeria |
| topic | Socio-economic governance Nigeria Economic growth ARDL bound testing |
| url | https://www.emerald.com/insight/content/doi/10.1108/JBSED-03-2023-0019/full/pdf |
| work_keys_str_mv | AT olalekancharlesokunlola socioeconomicgovernanceandeconomicgrowthinnigeria AT imranusmansani socioeconomicgovernanceandeconomicgrowthinnigeria AT olumideabiodunayetigbo socioeconomicgovernanceandeconomicgrowthinnigeria |