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Political instability and economic growth in Nigeria

Author

Listed:
  • Taiwo Akinlo

    (Ph.D. Department of Economics, Adeyemi Federal University of Education, Ondo, Nigeria)

  • Omobola Hannah Arowolo

    (MSc. Department of Economics, Adeyemi Federal University of Education, Ondo, Nigeria)

  • Taofeek Bidemi Zubair

    (Department of Economics, Adeyemi Federal University of Education, Ondo, Nigeria)

Abstract

Using annual data spanning from 1984 to 2020, the study analysed the effect of political instability on economic growth in Nigeria. To explore both the short and long-run relationship, the Autoregressive Distributed Lag (ARDL) technique is used. The cointegration test shows that political instability and economic growth are cointegrated. In the short run, the finding indicated that political instability negatively impacted economic growth. Likewise, in the long-run, political instability harms economic growth. Government expenditure contributed to economic growth in the short-run and long-run. Gross capital formation and financial development have detrimental effect on economic growth. Based on the findings from this study, there is a need for the government to address the frequent political instability to achieve the expected long-term growth in the economy.

Suggested Citation

  • Taiwo Akinlo & Omobola Hannah Arowolo & Taofeek Bidemi Zubair, "undated". "Political instability and economic growth in Nigeria," Review of Socio - Economic Perspectives 202209, Reviewsep.
    • Handle: RePEc:aly:journl:202209
    DOI: https://doi.org/10.19275/RSEP129
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    References listed on IDEAS

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    More about this item

    Keywords

    ARDL; economic growth; Nigeria; political instability.;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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