The nexus between economic growth, institutional quality, and poverty in Nigeria

Authors

  • Joseph Elizabeth Kehinde Kwara State College of Education, Ilorin, Nigeria
  • Gold Kfilah Lola Kwara State College of Education, Ilorin, Nigeria
  • Yusuf Hammed Agboola University of Ilorin, Ilorin, Nigeria
  • Adebowale Mojeed Olawale Ahmadu Bello University in Zaria, Nigeria
  • Ojuolape Muhammed Adebayo University of Ilorin, Ilorin, Nigeria
  • Ogunleye Modupe AXA Mansard Insurance, Nigeria

DOI:

https://doi.org/10.24191/jeeir.v11i3.22417

Keywords:

Institutional quality, Corruption, Economic growth, Fully Modified OLS

Abstract

Poverty, institutional quality, and economic growth are all crucial to a country's development and have garnered attention from scholars and policymakers over the years. This study looked at the relationship between poverty, institutional quality, and economic growth in Nigeria from 1996 to 2018, applying the techniques of Fully Modified OLS (FMOLS) and Causality test. The two institutional quality variables that were used are rule of law and corruption control. Consequently, the study established that an increase in control of corruption (a corruption-free environment), GDP growth, government expenditure, and gross capital formation had reducing effects on poverty in the short run. Also, control of corruption had a negative effect on relative poverty, indicating that a corrupt free environment limits the spread of poverty in the country. Hence, it was recommended, amongst others to encourage people to do the right thing and prioritise basic human values such as honesty and integrity. Therefore, the government is advised to embark on mind orientation, especially in primary and secondary school, in order to build the future of the nation from the ground. Also, the administration and implementation of the rule of law and the judicial system of the nation should be revisited with the intention of causing them ( the law, the judicial system, and the institution governing the land) to favor the rights and good of the people..

Author Biographies

Joseph Elizabeth Kehinde, Kwara State College of Education, Ilorin, Nigeria

Joseph Elizabeth Kehinde, a dedicated lecturer at the Department of Economics, Kwara State College of Education, Ilorin, Nigeria, brings a vibrant energy to the classroom. With a passion for nurturing critical thinking, Kehinde enriches students' grasp of economic principles. Known for a student-centered approach, Kehinde goes beyond academics, offering guidance and mentorship, shaping individuals holistically. Her commitment to education and holistic development has made her a respected and influential figure within the academic community of Kwara State College of Education.

Gold Kfilah Lola, Kwara State College of Education, Ilorin, Nigeria

Gold Kfilah Lola, PhD, a passionate Economics lecturer at the Department of Economics, Kwara State College of Education, Ilorin, Nigeria. Also serving as the Director of Research Development at CREDIIIT, she has made waves in academia. Over the years, her 43 published journal articles (2006-2024) have earned 308 citations, highlighting her impactful research. With an impressive h-Index of 11 and i10-Index of 11, Dr. Lola stands as a dedicated figure, weaving together education and innovation in the rich fabric of Kwara State's academic community.

Yusuf Hammed Agboola, University of Ilorin, Ilorin, Nigeria

Yusuf Hammed Agboola, a distinguished lecturer in the Department of Economics at the University of Ilorin, Kwara State, Nigeria, has left an indelible mark on academia. With 31 published journal articles between 2012 and 2024, Agboola's research has garnered 391 citations, showcasing his significant impact. His impressive h-Index of 11 and i10-Index of 12 underscore his scholarly influence and contributions, solidifying his reputation as a leading figure in economic research at the University of Ilorin.

Adebowale Mojeed Olawale, Ahmadu Bello University in Zaria, Nigeria

Adebowale Mojeed Olawale, a dedicated PhD student, brings his academic journey to life at Ahmadu Bello University in Zaria, Nigeria. Passionate about advancing knowledge, Olawale's pursuit of a doctorate reflects his commitment to scholarly excellence. Hailing from the esteemed university, he contributes to the vibrant academic community, embodying the spirit of curiosity and intellectual growth. 

Ojuolape Muhammed Adebayo, University of Ilorin, Ilorin, Nigeria

Ojuolape Muhammed Adebayo is an academic at the Department of Economics at the University of Ilorin, Kwara State, Nigeria. Adebayo contributes to the intellectual growth of students and the advancement of economic knowledge. With a commitment to excellence, Adebayo is known for his impactful contributions within the academic community, shaping the educational experience and fostering a culture of learning at the University of Ilorin.

Ogunleye Modupe, AXA Mansard Insurance, Nigeria

Ogunleye Modupe is a notable professional associated with AXA Mansard Insurance in Nigeria. With expertise in the insurance industry, Modupe contributes to the company's success and plays a pivotal role in shaping the landscape of insurance services in Nigeria. Known for her dedication and contributions, Modupe stands as a valuable asset within AXA Mansard, contributing to the company's commitment to providing reliable and innovative insurance solutions to its clientele in Nigeria.

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Published

2023-09-30

How to Cite

Kehinde, J. E., Lola, G. K., Agboola, Y. H., Olawale, A. M., Adebayo, O. M., & Modupe, O. (2023). The nexus between economic growth, institutional quality, and poverty in Nigeria. Journal of Emerging Economies and Islamic Research, 11(3), 94–108. https://doi.org/10.24191/jeeir.v11i3.22417

Issue

Vol. 11 No. 3 (2023): September 2023 Issue

Section

Articles

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Copyright (c) 2023 Joseph Elizabeth Kehinde, Gold Kfilah Lola, Yusuf Hammed Agboola, Adebowale Mojeed Olawale, Ojuolape Muhammed Adebayo, Ogunleye Modupe

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