Impact Of Government Capital Expenditure Pattern On Economic Growth In Nigeria

THE CHAPTER ONEINTRODUCTION1.0 BACKGROUND TO THE STUDYEconomic growth refers to increase in a country’s Gross Domestic Product, although this differs depending on how national product has been measured. Economic growth must be sustained for a developing economy to break the circle of poverty. Countries usually pursue fiscal policy to achieve accelerated economic growth. Tanzi (1994) observes that fiscal policy applies to the use of fiscal instruments (taxation and spending) to influence the working of the economic system in order to maximize economic welfare with the overriding objective of pr…