Public expenditure can be seen as the measures through which allocate efficiency or Pareto Optimality can be attained, it comes in the commanding heights of the economy and take all major decisions for allocation of scarce economic resources efficiently and effectively.
The government through its activities of levying taxes, undertaking expenditures on commodities, making direct money transfers to individuals and /or firms as well as the establishment of regulatory standards for the operation of her economy.
Therefore, given the influence of public expenditure on the demand and supply patterns in the economy, public expenditures carries the implications.
For stability, growth and development, hence the social welfare and distributive justice are directly implicated.
To determine the extent to which the regressor affects the regress, data yeas collected for a eight year period f 1996 – 2003 from secondary data sources. The ordinary least square regression analysis was used to analysis the data collected the standard error test and the t-test was used to treasure the size f the error in the estimates and to test the reliability of the parameter estimates respectively. Also the analysis of variance (ANOVA) was used to test the overall significance f the regression analysis model, which shared that the R2 statistically significant.
The study at the end made some necessary recommendations that should be adopted by government and its authorities for improvement of public expenditure vis-a vis standard f living f the citizens.
PROPOSAL
The research work is on the impact of public expenditure towards Economic growth of development
(A Comparative Analysis of Nigeria and Britain).
The project is focused on how to appraise and to measure the public expenditure towards Economic growth and development.
Hypothesis will be drawn concerning the topic for proof and verification statistical table will be used t arrive at a decision rule in subsequent chapter.
An indepth literature review is to be carried out in related materials, such as textbooks, library, magazines and articles writing by various management scholars.
The population of the study is going to be complex. The population will comprises of the Hausas, the western Zone covering the Yorubas and the Eastern zone comprising the Igbos.
The research work will be limited to some unavoidable constraint, some of which include, Time. Finance and inadequate facilities in the Library.
Finally, the research work will enhance to explained the model fits of the public expenditure with respect to comparative and analysis of Nigeria and British public expenditure to economic growth.
TABLE OF CONTENTS
CHAPTER ONE
1.1 Statement of the Problem
CHAPTER TWO
2.1 Definition of public expenditure
CHAPTER THREE
3.1 definition of Area and population of study
CHAPTER FOUR
4.1 Presentation of result (Britain)
4.2 Interpretation of Results
4.2.1 Standard Error test
4.5.1 Interpretation of result
CHAPTER FIVE
5.1 Summary of Finding
Bibliography
INTRODUCTION
Amongst scholars, economic growth have been referred to as the study process by which the productive capacity of the economy is increased overtime to being about increases in the output of goods about services sand rising levels of national income.
In short, it mean growth in the output of goods and services (i.e growth in GNP) However, the function of public expenditure and its impact to economic development could be traced by throwing more lines on the meaning of public expenditure.
According to an economics dictionary by J. L HANSON: Public expenditure have bee stated and the amount of money spent by a state or a supreme recognized region on its defense. Education and other social services, interest on National debts, capital investments etc. Therefore, public expenditures on economic development is traditionally applied tot he package of policy problems that involves the use of fax and expenditure measures. This economic development measures have been seen as a conscious and deliberate effort by the government to influence, direct and control the path of progress f the country.
It involves the government’s directive and actives interference with the market mechanisms either to supplement or to supplant it.
It is generally done by directly allocating or influencing the allocations of the society’s resources (both human and maternal) according to some predetemined objecitves and thus, it involves the government in conceriving, initiating, regulating and controlling economic activities in the system,
However, the impact of public expenditure on economic development have been to weighting the economic standard of a country ads to determing its per-capital income distribution, the inflationary rate, the cross National product and the monetary valuation to mention but a few between Nigeria and Britain
1.1 THE STATEMENT OF THE PROBLEM
It have been identified in the recent years that the inability of the government to allocate public expenditures to areas that are necessary have led to the fall of the standard of economic growth research have summoned the quest for acquiring the feasibly of public expenditures to faster the economic development and standard of the economy.
What is economic development ?
According to Edet B. Akpakpan; economist, economic growth is about increases in the out put of goods and services i.e increase in the real GDP. Thus if the GDP say rises from N200b in year 1 to N210b in year 2, we say that the economic has grown over the period and growth rate increase but if in the reverse, we say that there is s decline or decrease in economic growth. From facts certain reasons have been attributed to the lack of economic growth in Nigeria though its public expenditures the ignorance of the government in making way of for capital investment in and outside the country have been one of the major roles in the frustration of economic development through taxes and rates paid and the have impacted negatively to the economic standard and growth.
These negative trends that are attached to economic growth have played a major role in the reduction of unemployment level. In the country, also the reduction in the degree of personal and regional inequalities among indigenes in the country can be sensed o visualized through this economic mayhem, there have bee total reduction in the level of a absolve poverty o citizens, also the reduction of productive capacity etc have been parts of the negative trend cased by the inability of government using public expenditures to impact economic development. Due to this low rate of production capacity there mighty be difficulty for citizens demands to be reached and their tend to be inflationary situations in this conditions. Therefore, there must be measures in check mating these factors that is disastrous to economic development.
Furthermore, in this research work, we shall tend further to compare and analysis the impact of public expenditures to the development of Nigeria and Britain and hence finding a lasting solution to any if necessary.
The study is motivated by need for Government to intervene towards the development of the economy.
The purpose of this study is to ascertain the impact or role of public expenditure in developing economics.
The study is aimed at determing the extent to which public expenditures can be used to achieved meaning development in the developing economics and as well determine the variation between developing and developed by basis of Comparison between Nigeria and Britain.
Finally, it will aim at offering useful and relevant suggestions to the government of our nation on ways through which we can improve the economy through adequate utilization of public tends and effective public polices.
The major objectives of the study have been generally classed as to determining the economic situations in Nigeria and Britain and thus:
The research hypothesis that would be used as guide for testing relationship between variables are.
Sequel to the statement of problms above, the following research questions are put forth.
This research work have encountered some limitations which has contributed to low pace of work some of the handicaps encounter include financial constraints which is the power of every effective work.
Another case or limitation include time which the researcher have not gotten to carry on efficiently in search for the project.
This is in line to combining necessary documents and sample required.
The main beneficiaries of this research work will be the general public, entrepreneurs, management science students and the government.
This study will enable the public appreciate the impact of public expenditure on economic development.
In particular, it will be useful to entrepreneurs and the public who may find the structure to economic development, a useful instrument fore realizing their dreams of owing or finding ways of economic restructure and growth. Though this work the Nigeria government may understand more clearly, the problems entangled to economic growth and development which are in positio
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