An empirical retrospect of the impacts of government expenditures on economic growth: new evidence from the Nigerian economy

Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 3 Long-run estimates

Variables	Coefficients	t-statistics	P-values
C	0.4096	3.8612***	0.0008
RECEXP	− 0.2807	− 3.6848***	0.0013
CAPEXP	0.0461	0.5802	0.5677
DEBT	− 0.1495	− 4.0708***	0.0005
PRIEXP	0.1544	16.2248***	0.0000
INVEST	0.0013	3.5736***	0.0017

The superscripts ***, ** and * represent the rejection at 1%, 5% and 10% levels of significance, respectively. RGDP means, real gross domestic product; RECEXP is, total government recurrent expenditures as a percent of GDP; CAPEXP represents, total government capital expenditures as a percent of GDP; DEBT is total public debt as a percent of the GDP; PRIEXP, denotes private consumption expenditure; INVEST, gross domestic investment as measured by annual growth of gross capital formation