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The Role Of Equipment Investment In Nigeria's Growth Process, James Akperan Adam, Oladipo Tajudeen Busari
The Role Of Equipment Investment In Nigeria's Growth Process, James Akperan Adam, Oladipo Tajudeen Busari
Economic and Financial Review
This paper examines empirically the role of equipment investment in Nigeria's growth process. A growth accounting equation was utilized to analysed the contribution of private capital stock to growth. A Granger-causality test was also employed to explore the relationship between components of domestic fixed investment, productivity growth, labour force growth and economic growth. In addition, regression analysis was employed to complement the other methods. The first conclusion is that for sustainable growth, private capital stock growth need to rise to a level of 9 percent, for fixed investment- GDP ratio to oncrease by 18 percent. In the second approach, the …