International records / OpenAlex research

Interest Rates and Gross Fixed Capital Formation in Nigeria: A Multi-Dimensional Analysis

The purpose of this study was to examine the effect of interest rates on gross fixed capital formation in Nigeria. The study adopted time series data from Central Bank of Nigeria Statistical Bulletin from 1990-2023. The study made use of the Augmented Dicker-Fuller (ADF) unit root tests and it was discovered that the variables were not in the same order at level, hence, the use of Autoregressive Distribution Lag (ARDL). Gross fixed capital formation was modeled as the function of savings rate, money market, rate, monetary policy rate; prime lending rate and maximum lending rate. The estimated …