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The Determinants of Long Run Economic Growth in Nigeria

Author

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  • Bello Malam Saidu
  • Bello Abba Ahmed
  • Aminu Hassan Jakada

Abstract

The paper investigated the determinants of the long-run economic growth in Nigeria. The data was obtained from the World Development Indicator (WDI) database based on annual time series for the period (1981 to 2014) on real gross domestic product, government consumption expenditure, inflation and population growth rate. Consequently, Autoregressive Distributed Lags (ARDL) Model was employed for the analysis. The study found cointegrated relationship among the variables. The Error Correction Model (ECM) revealed that the speed of adjustment to restore equilibrium is 0.85 which suggests that there is a stable long run relationship. The policy implication of this finding is that the Nigerian government should give more emphasis on improving its level of technology, investing in research and development, increasing the stock of human capital, and build up its capital stock in order to boost economic growth.

Suggested Citation

  • Bello Malam Saidu & Bello Abba Ahmed & Aminu Hassan Jakada, 2018. "The Determinants of Long Run Economic Growth in Nigeria," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(1), pages 1-8.
    • Handle: RePEc:asi:aeafrj:v:8:y:2018:i:1:p:1-8:id:1656
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    Cited by:

    1. Abubakar Mohammed Atiku & Suraya Ismail & Farah Roslan & Ali Umar Ahmad, 2022. "The Effect of Electricity Distribution Loos, Electricity Power Consumption, Electricity Intensity on Energy Consumption in West Africa," International Journal of Energy Economics and Policy, Econjournals, vol. 12(5), pages 361-369, September.

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