Determinant of Private Investment in Nigeriaâs Manufacturing Sub-sector

Mgbemena, O. Onyinye; Nwogwugwu, Uche; Kalu, Christopher U.

doi:10.6007/ijarbss/v5-i5/1647

Cited by 2 publications

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“…An increase in budgetary allocation to economic services will lead to an enhancement in economic stability. Mgbemena, Nwogwugwu and Chris (2015) investigated the determinants of private investment in Nigeria's manufacturing sub-sector between the periods 1975 to 2013 using annual time series data sourced from Central Bank of Nigeria Statistical Bulletin of various issues. In carrying out the study, econometric techniques were employed to analyze the data collected.…”

Section: Introductionmentioning

confidence: 99%

Fiscal Policy Management and Private Investment in Nigeria

Awode¹

2019

jesp

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The Nigerian government over the years embarked on diverse macroeconomic policy options to tinker the economy on the path of growth and development. Amongst the policy options readily employed is that of fiscal policy. Despite the lofty place of fiscal policy in the management of the Nigerian economy, the economy is yet to come on the path of sound growth and development. The intent of fiscal management is essentially to stimulate economic and social development by pursuing a policy stance that ensures a sense of balance between taxation, expenditure and borrowing that is consistent with sustainable growth. However, the extent to which fiscal management engenders private investment continues to attract theoretical and empirical debate especially in developing countries like Nigeria. In light of this, the present study examines whether there exists a crowding-out or crowding-in effect of fiscal policy on private investment in Nigeria between 1987 and 2015. Secondary time series data were used for the study and these were sourced from CBN statistical bulletin and World Development Indicators, 2015. The data collected were analyzed using the Autoregressive Distributed Lag with inferences drawn at 5% significance level. The result showed that inflation, capital expenditure, indirect tax and non-tax revenue had positive and significant effects on private investment in Nigeria while domestic credit to private sector had negative but significant effect on private investment in Nigeria within the period. The study concluded that a crowding-in relationship exists between capital expenditure and private investment, while indirect tax revenue has significant and non-distortionary relationship with private investment. The study therefore recommends more public investment in capital projects and that the tax system should generally be made favorable towards private sector investment.

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Section: Introductionmentioning

confidence: 99%

Fiscal Policy Management and Private Investment in Nigeria

Awode¹

2019

jesp

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Private Sector Investment and Economic Growth in Palestine

Abdaljawwad¹,

Sarmidi

2018

UMRAN

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This study examines the impact of private sector investment on economic growth in Palestine using quarterly time series data from 1990-2015. Multiple regression and co-integration methods are employed to analyse the data. The objectives of this study are to analyse the trends of private investment and economic growth in Palestine from 1990-2015 and to examine the impact of private sector investment on economic. Being a time series data, to avoid spurious regression results, the first step is to test for the stationarity of the data by using Augmented Dickey-Fuller unit root test. Then ordinary least square (OLS) regression technique is used to estimate of each independent variable effect on the dependent variable. Test the stationary of the error term is done to test the long run co-integration among variables. The result of stationarity and normality test will reveal that the model is fairly well specified and could be used for policy analysis or not. The co-integration test result will indicate that private sector investment and economic growth have a long run significant effect on one another. The unit root tests, which conducted, confirm that variables are stationary in first difference and the co-integration tests also confirm the existence of long term relationship between the variables. The findings of the study concluded that there exist a short-run and long run relationship between private sector investment and economic growth in Palestine. This study recommends the Palestinian government to promote and encourage both domestic and foreign direct investment. The investment policy should be more transparent, attractive and competitive

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Determinant of Private Investment in Nigeriaâs Manufacturing Sub-sector

Cited by 2 publications

References 2 publications

Fiscal Policy Management and Private Investment in Nigeria

Fiscal Policy Management and Private Investment in Nigeria

Private Sector Investment and Economic Growth in Palestine

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Determinant of Private Investment in Nigeriaâs Manufacturing Sub-sector

Cited by 2 publications

References 2 publications

Fiscal Policy Management and Private Investment in Nigeria

Fiscal Policy Management and Private Investment in Nigeria

Private Sector Investment and Economic Growth in Palestine

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Determinant of Private Investment in Nigeriaâs Manufacturing Sub-sector