Gross Capital Formation, Infrastructure and Economic Development in Nigeria
Adegboyega Samson Opadeji,
Oladimeji Abeeb Olaniyi,
Adewale Mathew Adekanmbi
et al.
Abstract:In Nigeria, the extent to which the decline in capital formation as well as the dismal and disrepair state of most infrastructural facilities impair the growth potentials of the nation are relatively unknown. Given this, this study utilized the Johansen co-integration technique and the Vector Error Correction Model (VECM) to examine the impact of gross capital formation and infrastructure on economic development in Nigeria from 1991 to 2021. The findings of the co-integration analysis revealed the existence of… Show more
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