The Impact of Capital Formation on Economic Growth in Nigeria

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dc.creatorGbenga, Oyegun
dc.creatorChibuzor, Eleh, Clement
dc.date2023-03-23
dc.date.accessioned2023-09-16T00:37:50Z
dc.date.available2023-09-16T00:37:50Z
dc.descriptionThis paper examined the impact of capital formation on economic growth in Nigeria for the period of 1981 to 2022 using annual time series data on variables such as gross domestic product (dependent variable), gross fixed capital formation, total national savings and foreign direct investment (independent variables). Ex post facto research design was employed for the study and the collated data was sourced from Central Bank of Nigeria Statistical Bulletin, 2022. The data were analysed using E-view version 9. The findings show that gross fixed capital formation, and foreign direct investment have no significant effect on Nigeria’s gross domestic while total national savings have a significant effect on gross domestic product in Nigeria. The study concluded based on the f statistics probability value of 0.0000 which is lesser than 0.05 critical value. Therefore, capital formation has a significant effect on economic growth in Nigeria for the period under review. The study therefore recommends amongst others that Government must increase their efforts in mobilizing the desired level of gross national savings that could be big enough to attract foreign direct investments. This is very vital as FDI will help to complement our domestic savings.en-US
dc.formatapplication/pdf
dc.identifierhttps://cejsr.academicjournal.io/index.php/journal/article/view/1718
dc.identifier.urihttps://dspace.umsida.ac.id/handle/123456789/35627
dc.languageeng
dc.publisherPublishing House Education and Science s.r.o.en-US
dc.relationhttps://cejsr.academicjournal.io/index.php/journal/article/view/1718/1596
dc.rightshttps://creativecommons.org/licenses/by/4.0en-US
dc.sourceStředoevropský vědecký bulletin; Vol 34 (2023): Middle European Scientific Bulletin; 43-54cs-CZ
dc.sourceMiddle European Scientific Bulletin; Vol. 34 (2023): Middle European Scientific Bulletin; 43-54en-US
dc.source2694-9970
dc.source10.47494/mesb.2023.34
dc.subjectCapital Formationen-US
dc.subjectEconomic Growthen-US
dc.subjectEffecten-US
dc.subjectForeign Direct Investmenten-US
dc.subjectTotal National Savingsen-US
dc.titleThe Impact of Capital Formation on Economic Growth in Nigeriaen-US
dc.typeinfo:eu-repo/semantics/article
dc.typeinfo:eu-repo/semantics/publishedVersion
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