The book discussed expenditure theories and empirical literatures on the impact of government capital expenditure on economic growth. Keynesian theory of expenditure was adopted for the study. The study employed annual time series data on GDP and capital expenditures on agriculture, education, defence and transportation from the online database of central bank of Nigeria (CBN) and the budget office of the federation (BOF). The data were analyzed using co-integration and vector error correction models. Result of the Johansen Co-integration test shows the existence of long run equilibrium...
The book discussed expenditure theories and empirical literatures on the impact of government capital expenditure on economic growth. Keynesian theory...