Institutions, Infrastructure and Economic Growth in Nigeria

Olalekan Bashir Aworinde () and Ishola Rufus Akintoye ()
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Olalekan Bashir Aworinde: Pan-Atlantic University
Ishola Rufus Akintoye: Babcock University

Acta Universitatis Danubius. OEconomica, 2019, issue 15(3), 205-216

Abstract: The study examines the impact of institutions and infrastructures on economic growth in Nigeria. The study contributes to the infrastructure-growth nexus literature in Nigeria by accounting for institutions into the model. The justification for the inclusion of the variable is based on the fact that good institutions will induce growth and that it will serve as an impetus for investor to invest in Nigeria. The result shows that there is long-run cointegrating relationship using the bounds-testing approach of Pesaran et al (2001). The study shows that population and institutions contributes positively to growth and that public infrastructure has a negative significant impact on growth. It is strongly recommended that that government should monitor her public infrastructure spending by reducing wastages so that it can contribute positively to growth. In addition, government should adhere to good institutions so as to increase the inflow of foreign direct investment into Nigeria.

Keywords: Institutions; Economic growth; Infrastructure; Nigeria (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2019:i:3:p:205-216

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