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International Journal of Physical and Social Sciences
Year : 2012, Volume : 2, Issue : 5
First page : ( 1) Last page : ( 14)
Online ISSN : 2249-5894.

Effect of population on economic development in Nigeria: A quantitative assessment

Adewole Adediran Olanrewaju

Department of Economics, Crescent University, P.M.B.2104 Sapon, Abeokuta, Ogun State, Nigeria

Online published on 14 November, 2013.

Abstract

This study examines the effect of population on economic development in Nigeria. Thus, Malthusian theory of population is relevant to Nigeria as a developing economy. The study used trend analysis of the study with the scope spanning between 1981 and 2007. The study adopted ordinary least square method of analysis. In examining the time series properties using the Phillips-Perron (PP) non-parametric unit root test. The analysis showed that real gross domestic product, population growth and per capita income are non-stationary at levels, but the null hypothesis of non stationary is rejected at first difference for both test models with intercept and trend. The study revealed that population growth has positive and significant impact on economic sustainability proxied as real gross domestic product (RGDP) and Per Capita Income. The study later proffer various policies options which government can implement for better economic development as a result of continuous population growth.

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Keywords

Population, Economic sustainability, Resources allocation.

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