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AN EVALUATION OF WAGNER’S LAW ON PUBLIC EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA (1980 -2011)

AN EVALUATION OF WAGNER’S LAW ON PUBLIC EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA (1980 -2011)

DEPARTMENT OF ECONOMICS,
FACULTY OF SOCIAL SCIENCES,
This is a statistical analysis done with an e-view software for economics department
Sources: (i)   CBN Statistical Bulletin Vol. 15 Dec. 2005
       (ii)   International Monetary Fund
       (iii)  International Financial Statistics (CD-ROM, 2005)
(iv)        World Bank Development Indicator, 2004.


Appendix I:

YEAR
RGDPCAP
FDI
GCEXP
INF

EXR
OPEN
1990
1044.14
1003.2
578
13.8
0.7143
0.0303
1991
1236.49
1322.8
631
16
0.6955
0.0361
1992
1272.45
1571.1
798
3.2
0.6579
0.0349
1993
1320.5
1763.7
976
5.4
0.6579
0.0474
1994
1437.47
1812.1
1312
13.4
0.6299
0.0914
1995
1356.89
2287.5
2237
33.9
0.6159
0.1081
1996
1464.07
2339
2585
21.2
0.6265
0.1338
1997
1536.1
2531.4
3827
15.4
0.6466
0.1532
1998
1380.17
2863.2
4999
16.6
0.606
0.1603
1999
1371.7
3153.1
4882
11.8
0.5957
0.02
2000
1405.2
3620.1
5051
9.9
0.5464
0.4211
2001
1000.08
3757.9
6519
20.9
0.61
0.3389
2002
971.28
5382.8
6816
7.7
0.672F 0.2696
2003
882.74
5949.5
7489
23.2
0.7241
0.2701
2004
818.8
6418.3
6925
39.6
0.7649
0.2487
2005
894.97
6804
2342
5.5
0.8938
0.2603
2006
902.8
9313.6
7488
5.4
2.0208
0.2751
2007
882.33
9993.6
2395
10.2
4.0179
0.2104
2008
936.09
11339.2
9253
38.3
4.5367
0.6773
2009
972.97
10899.6
10076
40.9
7.3916
0.6771
2010
1018.53
10436.1
11469
7.5
8.0378
0.679

Sources: (i)   CBN Statistical Bulletin Vol. 15 Dec. 2005
       (ii)   International Monetary Fund
       (iii)  International Financial Statistics (CD-ROM, 2005)
(iv)        World Bank Development Indicator, 2004.


Dependent variable: IgINF
Method: least squares
Date: 15/11/13 Time: 09:34
Sample: 1990 – 2010
Included observations: 21

Variable                                   Coefficient      Std Error         t-statistic          prob

C                                             30.00547         33.35492         0.899581         0.6982
igGgr                                       -1.800293        0.367136         -4.903613        0.3255

R-Squared                              0.693482         Mean Dependent var.             962.7314
Adjusted R-squared               0.567294         S.D. dependent var.                561.6768
S.E of regression                    243.9346         Akaike info criterion                56.73941
Sum squared reside               3258.632         Schwarz criterion                    49.95683
Log likelihood                          - 142.6733       F-statistic                                 26.76783
Durbin – Watson stat              .506348           prob. (f-statistic)                      0.000097

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