The also examines the between the ARDL procedure and the fully modified OLS of Phillips and Hansen to the cointegrating https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/relationship between all the ,
Economic growth, these results provide strong evidence in favour of rehabilitation of the traditional approach to time Series econometric modelling.
The ARDL approach has the additional advantage of yielding consistent estimates of the long-run co-efficient that is asymptotically normal irrespective of whether the underlying regressors are I(1) or I(0).,
This research provides an empirical analysis of the https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/relationship between https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic growth and its determinants factors with a special focus on gross domestic product,
Foreign direct https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment and other important factors in Nigeria, using data from the period of 1976 to 2010, we also employed ARDL bounds testing for the long-run https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/relationship and ECM for the short-run dynamics.
The findings suggest a positive https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/relationship between efficient real GDP and foreign direct https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment and https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic growth both in the short-run and long-run.
Money supply and inflation have negative effects on https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic growth while fiscal deficit and foreign direct https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment have positive effects on growth.
INTRODUCTION
Background of Study
Economically developed countries have been able to reduce their poverty level, strengthen their social and political institutions, improve their quality of life, preserve environments and achieve political stability [Barro (1996); Easterly (1999); Dollar and Kraay (2002a); Fajnzylber, (2002)].
After World War II, most of the countries adopted aggressive https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic policies to improve the growth rate of real gross domestic product (GDP).
The neoclassical growth models imply that during the evolution between steady states; technology, exogenous rate of savings, population growth and technical progress generate higher growth levels (Solow 1956).
The endogenous growth model developed by Romer (1986) and Lucas (1988) argues that a permanent increase in growth rate depends on the assumption of constant and increasing return to capita1.
Similarly, Barro and Lee (1992) investigate the empirical association between human capital and.
They seem to support the endogenous growth model by Romer (1990) that high light the role of foreign direct https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment in the growth process.
Fischer (1993) argues that long-term growth is negatively linked with inflation and positively correlated with better fiscal performance and factual foreign exchange https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/markets.
In the context of developing countries, https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment both in foreign direct, money supply, and ability to adapt to technological changes, open trade policies, and low inflation is necessary for https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic growth.
REFERENCES
Armstrong,S.A and Read,B.J (2004). Foreign direct https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment and growth in Nigeria: An empirical https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment. Journal of Policy Modeling, 26. Pages 627-639
Bahmani-Oskooee and Nasir N.A (2004). Foreign direct https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic-growth-in-nigeria/investment in Nigeria: Evidence from time series data CBN Economic and Finantial Review
Banerjee, A..J., Dolado, J., Mestre, R., (1998). Error-Correction Mechanism Tests for Cointegration in Single-Equation Framework. Journal of Time Series Analysis, 19, 267–283
Barro,P.S (1996) Determinant of https://innaija.com.ng/mathematics-project-topics-and-materials/determinants-of-economic-growth-in-nigeria/economic Growth. a cross –country empirical studies Massachusetts institute of technology, U.S.A.
Barro, C.V and Lee,K.S.(1992). Statistics Inference in Regressive with integrated process.Part 1. Econometric Theory, 4 pages 468-497
Bewley, R. (1979). The Direct Estimation of the Equilibrium Response in a Linear Dynamic Model,. Economics Letters, 3: 357-361
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