Please forward this the determinants of investment screen to 185. Lecturer, Department of Banking and Finance, Madonna University, Okija Campus, Anambra State.
In recent years, all her efforts to grow the economy, Nigeria’s rate of economic growth has remained very volatile and sluggish. This study therefore examines the major economic growth determinants as well as the direction of causality that exists between economic growth and some selected economic growth indicators in Nigeria, employing the Johansen Co-integration and Granger Causality tests for a period spanning 1980 to 2012. 1 is the error term and n is the number of lag terms included. 99 per cent of the variations in GDP are explained by the combined effect of variations in the explanatory variables.
4 below gives the final and more precise estimation result when compared with the OLS level series model. All the variables are correctly signed as predicted and measured by their regression coefficients. The F- statistics ratio of 15. 7 with probability ratio of 0.
5 percent level, and therefore confirms our earlier proposition that the variables are co-integrated. The general results imply that causal relationship between economic growth and the selected determinants is mixed and therefore inconclusive. 2004, Sources of Growth in the Democratic Republic of Congo: A Co-integration Approach. 2004, Trade Openness with Options for Developing Economies. CBN Economics and Financial Review, 4. 2006, Stock Market Development and Economic Growth, Research Paper. Weinberger, 2009 Foreign Direct Investment, Productivity and Country Growth: An Overview.