INCOME INEQUALITY, POVERTY ALLEVIATION AND ECONOMIC GROWTH IN NIGERIA (1970-2020)

📄 Project Abstract

This study examined the relationship between income inequality, poverty and economic growth. It also analyzed the impact of income inequality on economic growth, the effect of poverty on economic growth and assessed the impact of income inequality on the effect of economic growth on poverty. This study made use of annual times series secondary data. Data on GDP, inequality, poverty, population, public expenditure on education, corruption, unemployment, per capita income and inflation were sourced from World Development Indicators (2020), Central Bank of Nigeria Statistical Bulletin (2020), National Bureau of Statistics (2020) and Kneoma (2020). The data collected were analysed using econometric techniques, particularly, Auto regressive Distributed lag (ARDL) Model. The analysis performed are unit root, using both Augmented Dickey-Fuller (ADF) test and the Phillip and Perron (PP) test, the lag order of the ARDL models using VAR lag selection criteria and bound test. The results showed t...