International records / OpenAlex research

Modeling the Long-Run Determinants of Private Investment in Nigeria

The paper examines the long-run determinants of private investment in Nigeria by using the error correction method. The econometric results indicate that growth of real income, increase in public investment and exchange rate, openness of the economy, and higher savings have a positive effect on private investment. On the other hand, credit to private sector, rising inflation, and high lending rates impede private investment. It is recommended that government and relevant authorities adopt policies that would facilitate the growth of national income, increase public investment and savings, incr…