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Dynamics of Governance, Investment and economic Growth in Nigeria

Botswana Journal of Economics

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Field Value
 
Title Dynamics of Governance, Investment and economic Growth in Nigeria
 
Creator Adenuga, AO
Evbuoumwan, O
 
Subject Governance, Economic Growth, Investment, Vector Error Correction, Africa, Nigeria
 
Description There is a general argument that, in all countries, the process of economic growth, governance and investment/capital formation is closely intertwined. The importance of the soundness and effectiveness of governance in attaining increased investment and sustained economic growth cannot be overemphasized. The specific objectives were to estimate the short-run dynamics as well as the error-correction mechanism of governance, investment ratio, price level, prime lending rate, openness and financial sector development on economic growth. The hypothesis that governance and investment promotes economic growth in Nigeria was validated. The findings reveal that the significance of the error correction mechanism (ECM1) supports cointegration and suggests the existence of long-run steady-state equilibrium between economic growth, investment and governance. In fact, the ECM1 indicates a feedback of about 58.8 per cent of the previous quarter’s disequilibrium.Key words: Governance, Economic Growth, Investment, Vector Error Correction, Africa, Nigeria
 
Publisher The Botswana Economics Association
 
Contributor —
 
Date 2013-02-13
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://www.ajol.info/index.php/boje/article/view/85410
 
Source Botswana Journal of Economics; Vol 10, No 14 (2012); 109-131
1810-0163
1810-0163
 
Language eng
 
Relation https://www.ajol.info/index.php/boje/article/view/85410/75335
 
Rights Copyright for content published in the journal is held by The Botswana Economics Association