ROLE OF GOVERNANCE IN EXPLAINING DOMESTIC INVESTMENT IN NIGERIA
ROLE OF GOVERNANCE IN EXPLAINING DOMESTIC INVESTMENT IN NIGERIA
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DOI：
10.1111/j.1813-6982.2012.01320.x
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发表时间：
2012-12-01
影响因子：
1.3
通讯作者：
Akanbi, Olusegun A.
中科院分区：
文献类型：
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作者：
Akanbi, Olusegun A.
本研究探讨了尼日利亚国内投资的决定因素，特别侧重于治理的作用。使用Johansen估计技术对1975年至2009年的时间序列数据进行了估计。结果符合现有文献的研究结果，即真实的产出，资本的用户成本和金融发展水平是国内投资的重要决定因素在尼日利亚。该文件的显著特点是治理在解释尼日利亚国内投资的长期模式方面发挥了重要作用。长期估计和脉冲响应的结果表明，从长远来看，结构良好和稳定的社会经济环境将促进国内投资。因此，在为尼日利亚建立国内投资模型时，必须考虑到治理所发挥的重要作用。
This study examines the determinants of domestic investment in Nigeria with a special focus on the role of governance. The estimations are carried out with time series data from 1975 to 2009 using the Johansen estimation techniques. The results conform to the findings of existing literature that real output, user cost of capital and level of financial development are significant determinants of domestic investment in Nigeria. The distinctive feature of the paper is the significant role played by governance in explaining the long-term pattern of domestic investment in Nigeria. The results from the long-run estimation and the impulse responses revealed that a well-structured and stable socio-economic environment will boost domestic investment over the long run. Therefore, in modelling domestic investment for Nigeria, it is imperative to incorporate the significant role played by governance.