Economics, Econometrics and Finance
8 years ago

Military spending in Nigeria hinders economic growth, focus should shift to human capital.

DOAJ (DOAJ: Directory of Open Access Journals)
AN EMPIRICAL ANALYSIS OF EFFECTS OF MILITARY SPENDING ON ECONOMIC GROWTH IN NIGERIA: A BOUND TESTING APPROACH TO COINTEGRATION 1989 - 2013
Olumuyiwa Tolulope Apanisile, Olalekan Charles Okunlola

Paper Summary

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The study looked at how military spending affects the economy in Nigeria from 1989 to 2013. They used a method called ARDL bounds testing to see if military spending helps or hurts the economy. The results showed that military spending has a negative impact on the economy in the short term, but a positive impact in the long term. This means that the government should spend less on defense and focus more on developing human capital to help the economy grow faster.