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Private Investment and Political Instability: Evidence from Nigeria

Author

Listed:
  • Busari, O.T.
  • Amaghionyeodiwe, L.A.

Abstract

It is a widely held opinion that the resumption of growth in Africa will require, among other things, an increase in investment, which will have to come primarily from the private sector if growth is to be efficient and sustained. Using a simple neoclassical investment model, we examined the impact of political instability on private investment. The OLS estimates indicate that political instability does not have any significant direct impact on private investment. We recommend that a political framework that does not negatively affect aggregate spending will be favourable to private investment boom.

Suggested Citation

  • Busari, O.T. & Amaghionyeodiwe, L.A., 2007. "Private Investment and Political Instability: Evidence from Nigeria," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 4(2), pages 45-68.
    • Handle: RePEc:eaa:ijaeqs:v:4:y2007:i:2_3
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    More about this item

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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