The Determinants of Private Domestic Investment in Nigeria
This study focalize the private domestic investment. The choice is to enable us study the implications of the policy shift of Nigerian government that placed emphasis on private sector as an engine of growth. The policy makers believe that private investment has a stronger and more favorable effect on growth than public investment, probably because private investment is more efficient and less closely associated with corruption. This study however analyzed the determinants of private investment in Nigeria using a time series data and an error correction mechanism. The paper discussed the trends in investment and also reviewed the literature on the topic. Empirical investigations showed that changes in real private investment in Nigeria are best explained by changes in political trend by a dummy variable representing political instability; macroeconomic instability and poor infrastructure. The econometric results suggested that political crises may have created a climate hostile to private investment in Nigeria. The overall measure of political and macroeconomic instability has been a major hindrance to private investment. The results suggested the need for the government to continue to develop the infrastructural base of the economy in order to boost the private sector.
Volume (Year): 4 No 2 Paper 3 August (2011)
Issue (Month): 3 (August)
|Contact details of provider:|| Web page: http://www.fareastjournals.com/journal_detail.aspx?jid=18|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Joshua Greene & Delano Villanueva, 1991. "Private Investment in Developing Countries: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 38(1), pages 33-58, March.
- repec:tpr:qjecon:v:112:y:1997:i:4:p:1203-50 is not listed on IDEAS
- Easterly, W & Levine, R, 1996.
"Africa's Growth Tragedy : Policies and Ethnic Divisions,"
536, Harvard - Institute for International Development.
- Serven, Luis & Solimano, Andres, 1992. "Private Investment and Macroeconomic Adjustment: A Survey," World Bank Research Observer, World Bank Group, vol. 7(1), pages 95-114, January.
When requesting a correction, please mention this item's handle: RePEc:fej:articl:v:4b:y:2011:i:3:p:27-37. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Chau)The email address of this maintainer does not seem to be valid anymore. Please ask Jim Chau to update the entry or send us the correct address
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.