Effect of Capital Formation on Economic Growth in Nigeria

Onyinye, Nweke; Idenyi, Odo Stephen; Ifeyinwa, Anoke Charity

doi:10.9734/ajeba/2017/36075

Cited by 38 publications

(24 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Similarly, bi-directional causal link has been found between capital accumulation and economic growth in developed countries. This finding is consistent with Ahmed et al (2016), Narayan and Smyth (2008), Neanywa and Makhenyane (2016), Satti et al (2014), Onyinye et al (2017) and Topcu et al (2020), Uneze (2013) . In developed countries, there is bi-directional causality between labour and economic growth.…”

Section: Discussionsupporting

confidence: 90%

Sağlık Harcamaları, Sermaye Birikimi ve Ekonomik Büyüme Arasındaki Nedensel İlişki: Gelişmiş ve Gelişmekte Olan Ülkeler Üzerine Bir İnceleme

Topçu¹,

Atasayar²

2020

Ekonomi, Politika &Amp; Finans Araştırmaları Dergisi

View full text Add to dashboard Cite

The factors related to economic growth, which is one of the main macroeconomic targets, is among the topics that are frequently researched in the literature. Factors associated with economic growth may differ across to the development levels and economic structures of the countries. In this context, the aim of this study is to examine the causal relationship between health expenditures, capital accumulation and economic growth in 29 developed and 10 developing countries over the period 1999-2018 using Dumitrescu and Hurlin (2012) panel causality method. Panel causality findings have proven the existence of bi-directional causality between health expenditures and economic growth, as well as between capital accumulation and economic growth in developed countries. In developing countries, there is unidirectional relationship from economic growth to health expenditures. There is also uni-directional causality from capital accumulation to economic growth. Developed countries should develop policies stimulating capital accumulation as well as health expenditures in order to encourage economic growth, which, in turn, contribute to capital accumulation and health expenditures. On the other hand, developing countries should implement policies that encourage capital accumulation and economic growth to increase health spending. * Bu makale Yeter Atasayar'ın Ebru Topcu danışmanlığında yürüttüğü yüksek lisans tez çalışmasından türetilmiştir.

show abstract

Section: Discussionsupporting

confidence: 90%

Sağlık Harcamaları, Sermaye Birikimi ve Ekonomik Büyüme Arasındaki Nedensel İlişki: Gelişmiş ve Gelişmekte Olan Ülkeler Üzerine Bir İnceleme

Topçu¹,

Atasayar²

2020

Ekonomi, Politika &Amp; Finans Araştırmaları Dergisi

View full text Add to dashboard Cite

show abstract

“…Further, Granger causality test results reveals that the causal relationship between Islamic banks' investments and the economic growth. Onyinye, Idenyi, & Ifeyinwa (2017) explore the effect of nonlife insurance on economic growth in Nigeria for the period 1988-2014. The study used ordinary least square regression for the testing of the hypotheses.…”

Section: Theoretical Discussion and Empirical Evidencementioning

confidence: 99%

Causality between Financial Development and Economic Growth in Nepal

Maharjan

2020

NRB Econ. Rev.

View full text Add to dashboard Cite

This study examines the empirical relationship between financial development and economic growth in Nepal. Financial development has been measured by three key pillars of the financial system bank, capital market and insurance. Gross domestic product and gross fixed capital formation are considered for economic growth indicators. Using time series techniques, the stationary properties of the data sets are tested followed by Johansen co-integration test to observe long run equilibrium relationship between the two variables and Granger Causality test to identify the causal relationship among the variables. Also, Vector Error Correction Model (VECM) has been employed to analyze the short run dynamics of the system. The result of the study reveals that there is cointegrating relationship between market capitalization and economic development with short-run causality is running from market capitalization to GDP. In regard to insurance market, error correction term is negative and significance for both GDP and GCF indicating there is cointegrating relationship between insurance market and economic development. However, the result shows no evidence of causality between insurance premium and economic development in short-run. The negative relation between bank and GDP reinforces that there is a cointegrating relationship between banking sector development and economic development. The result also shows that lagged value of GDP is significant. It shows that short-run causality is running from GDP to banking sector development.Nepal

show abstract

“…YG t = c + αKG t + βLG t + e t (5) (c: constant or intercept, e t : error term) Based on the previous analysis and the previous studies such as Bayar [29] and [33], Emara and Jhonsa [34], Bouoiyour and Naimbayel [35], Fayissa and Nsiah [36], Pere [22], Orayo and Mose [37], Lahouij [27], Onyinye, et al [38], Josheski, et al [39], Razmi and Refaei [26] and Berggren and Jordahl [40], this study will estimate the following regression model: YG it = β 0 + β 1 KF it + β 2 LF it + β 3 OT it + β 4 EF it + β 5 VA it + β 6 PS it + β 7 GE it + β 8 RQ it + β 9 RL it + β 10 CC it + λ DM it + u it (6) Where β 0 : intercept, i: country, t: year, u it : random error term, YG: growth rate of RGDP, KF: gross fixed capital formation to GDP ratio, LF: labor force growth rate, OT: trade openness that is measured by the sum of exports and imports to GDP ratio, and EF: economic freedom index. Governance variables are: VA: voice and accountability, PS: political stability, GE: government effectiveness, RQ: regulatory quality, RL: rule of law, and CC: control of corruption.…”

Section: Methodsmentioning

confidence: 99%

Public Governance and Economic Growth of Non-Oil-Exporting Arab Countries

Yousef¹

2020

IJBER

View full text Add to dashboard Cite

This paper aims at investigating the impact of public governance on the economic growth in Non-Oil-Exporting Arab countries (NOEAC). The study used panel data for six NOEAC over the period from 1998 to 2017. Some study variables were not stationary at level but they became stationary after taking the first difference for them. The result of applying Kao panel cointegration test revealed that the study model was cointegrated. Therefore, Fully Modified Ordinary Least Squares (FMOLS) model was applied for estimation showing that governance factors have the greatest significant positive effects on the economic growth in such countries. Gross fixed capital formation, labor force growth rate, trade openness, economic freedom, rule of law, regulatory quality, control of corruption, and voice and accountability have statistically significant positive impact on their economic growth during the study period, while the Global Financial Crisis of 2008 (GFC) with its slow recovery has a significant negative impact on their economic growth. Political stability and government effectiveness have insignificant effects. The main conclusion derived from this paper is that political and institutional aspects can play an important role in the economic progress, and they are responsible for major contribution to economic growth and development. Therefore, attracting domestic and foreign direct investments, increasing labor and capital productivities, strengthening governance, improving public administration and eradication of corruption have the first priorities in NOEAC.

show abstract

Effect of Capital Formation on Economic Growth in Nigeria

Cited by 38 publications

References 0 publications

Sağlık Harcamaları, Sermaye Birikimi ve Ekonomik Büyüme Arasındaki Nedensel İlişki: Gelişmiş ve Gelişmekte Olan Ülkeler Üzerine Bir İnceleme

Sağlık Harcamaları, Sermaye Birikimi ve Ekonomik Büyüme Arasındaki Nedensel İlişki: Gelişmiş ve Gelişmekte Olan Ülkeler Üzerine Bir İnceleme

Causality between Financial Development and Economic Growth in Nepal

Public Governance and Economic Growth of Non-Oil-Exporting Arab Countries

Contact Info

Product

Resources

About