Government spending and industrial development in Nigeria: a dynamic investigation
Monday I. Egharevba and
Abidemi Adegboye ()
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Samuel Iweriebor: Department of Economics, College of Education, Agbor, Nigeria
Monday I. Egharevba: Department of Economics, Adeyemi College of Education, Ondo, Nigeria
Annals of the University of Petrosani, Economics, 2015, vol. 15, issue 1, 179-190
In this study, the effect of public spending on the industrial sector in Nigeria is examined within a dynamic structure. The goal of the study is to present a position in which industrial production could be enhanced by properly channeling public sector spending. Using data covering the period 1980 to 2013, econometric tools are employed to empirically examine the main effects of some public sector spending factors on industrial development. It is found in the study that that public spending has no significant effect on industrial production in the short run. Moreover, government spending has a relatively weak effect on industrial production even in the long run, suggesting a disconnection between public spending and the real sector of the economy. The proper focus for policymakers bent on improving industrial performance in Nigeria, thus, is on the process of fiscal management restructuring, at least in the medium-term.
Keywords: Government spending; Industrial development; Dynamic analysis (search for similar items in EconPapers)
JEL-codes: H31 H54 L52 (search for similar items in EconPapers)
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