Responsiveness of Economic Growth to Savings and Investments in Nigeria

Agu, Bartram Onyebuchi and Nwankwo, S.N.P (2018) Responsiveness of Economic Growth to Savings and Investments in Nigeria. RESEARCH JOURNAL OF FINANCIAL SUSTAINABILITY REPORTING (RJFSR), 3 (2). pp. 50-51. ISSN 2635 - 3679

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Abstract

This study investigated the responsiveness of Economic Growth to Savings and Investment in Nigeria. To achieve the objectives of this study, secondary data were obtained from the Central Bank of Nigerian statistical bulletin providing record of Nigerian saving, investment and Real Gross Domestic Product (RGDP) over the period 1990-2019. The data gathered were analysed using stationarity test; co-integration and an error correction model which were estimated in order to determine the rate of response of economic growth to savings and investment in Nigeria. The result of the statistical/econometrics analysis revealed that there is a relationship between saving, investment and economic growth in Nigeria. Consequent on the above, the researcher recommended that; measures must be put in place to encourage savings from the public; effort should be made to increase the consumption of made in Nigeria goods, which includes the usage of raw materials that can be sourced locally by Nigerian industries in order to increase foreign exchange earnings.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 09 Feb 2021 13:46
Last Modified: 09 Feb 2021 13:46
URI: http://eprints.gouni.edu.ng/id/eprint/2966

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