Impact of Capital Budget Implementation on Economic Growth in Nigeria

Impact of Capital Budget Implementation on Economic Growth in Nigeria

AFOLABI Ademola Joshua

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Olaoye Clement Olatunji

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Olaoye Festus Oladipupo

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Ekiti State University

Impact of Capital Budget Implementation on Economic Growth in Nigeria

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Abstract

The study examined the impact of capital budget expenditure implementation on economic growth in Nigeria. Specifically the study assessed the impact of implementation of capital expenditure on administration, economic services, socio-community services on the growth of Nigerian economy. Secondary data used in the study were collated from Central Bank of Nigeria(CBN) statistical bulletins, and analyzed with the use of Augmented Dickey-Fuller unit root test, co-integration test and error correction model (ECM) analysis. The long run normalized estimation reported coefficient values of -387, 2292, 69.05, 184.17 for capital expenditure on administration, economic services and socio-community services respectively, while the short run parsimonious ECM estimation reported coefficient estimates and probability value of 27.20(p=0.11), -27.82(p=0.001), -17.23(p=0.49) respectively. Thus, it was concluded that capital expenditure implementation is germane in maintaining and sustaining economic growth in Nigeria. Hence, it was recommended that government should ensure adequate implementation of capital expenditure in the country especially in areas of economic and socio-community services and also overhaul ministries, government agencies and parastatals to curb and curtailloopholes impeding effective and efficient implementation of capital budget in the country.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

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Not applicable for this article.

How to Cite This Article

AFOLABI Ademola Joshua. 2017. \u201cImpact of Capital Budget Implementation on Economic Growth in Nigeria\u201d. Global Journal of Management and Business Research - D: Accounting & Auditing GJMBR-D Volume 17 (GJMBR Volume 17 Issue D3): .

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GJMBR Volume 17 Issue D3
Pg. 9- 19

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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Classification

GJMBR-D Classification: JEL Code: F43

Submission ReceivedDecember 6, 2016
Peer Review Double Blind
Handling Editor
Accepted January 5, 2017
Published January 15, 2017

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v1.2

Issue date

December 1, 2017

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Article Matrices

Total Score: 103

Country: Nigeria

Subject: Global Journal of Management and Business Research - D: Accounting & Auditing

Authors: Olaoye Clement Olatunji, Olaoye Festus Oladipupo, Afolabi Ademola Joshua (PhD/Dr. count: 0)

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Publish Date: 2017 12, Fri

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Total Views: 3263

Total Downloads: 1586

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