IMPROVING THE NIGERIAN INVESTMENT CLIMATE FOR ENHANCED ECONOMIC GROWTH: AN ECONOMETRIC ANALYSIS

AUTHORS: KALU, C.U. EZENEKWE, R.U. & NWAIGWE, O.F.

INTERNATIONAL JOURNAL OF EDUCATION, SCIENCE AND PUBLIC POLICY IN AFRICA (IJESPPA) Vol. 2 No. 1 2012

The slow economic growth rate experienced by most developing countries including Nigeria in the late 1970s, the early 1980s and to the present, manifested itself in the form of macroeconomic imbalances, wide saving-investment disparity, high rate of inflationary spiral, high debt overhang, etc. Hence, the study examines improving the Nigerian investment climate for enhanced economic growth. The data was sourced from the Central Bank of Nigeria (CBN) Bulletin and National Bureau of statistics. The level testing results reveal that none of the variables were stationary at its levels. However, the absolute values of the variables in the first difference is greater than the Mackinnon Critical value as provided by EVIEW’ Package, which means that we fail to reject the null hypotheses for the non-.stationary series. It was observed that many reasons accounted for the poor economic performance of the Nigerian economy, among which is the decline in the investment rates. It is, thus, recommended that polices that will improve and encourage investment should be institutionalized, stable macroeconomic framework pursued, favorable fiscal regime promoted and the deepening and diversifying the financial sector strengthened to achieve investment objectives.

TO VIEW THE FULL CONTENT OF THIS DOCUMENT, PLEASE VISIT THE UNIZIK LIBRARY WEBSITE USING THIS LINK, http://naulibrary.org/dglibrary/admin/book_directory/Economics/11294.pdf

Advertisements

Tags: , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: