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An Empirical Analysis of Transport Infrastructure Investment and Economic Growth in Nigeria
Social Sciences
Volume 2, Issue 6, December 2013, Pages: 179-188
Received: Sep. 2, 2013; Published: Oct. 20, 2013
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Authors
Oyesiku Kayode, Centre for Transport Studies, Olabisi Onabanjo University, PMB 2002, Ago-Iwoye, Nigeria
Onakoya, Adegbemi Babatunde, Department of Economics, Tai Solarin University of Education, Ijebu-Ode, Nigeria
Folawewo Abiodun, Department of Economics, University of Ibadan, Nigeria
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Abstract
The paper investigated the impact of public sector investment in transport on economic growth, using Nigeria as a case study. The empirical model for the study was developed from the endogenous growth framework in which transport investment entered into the production function as input, using the Ordinary Least Squares (OLS) estimation technique and time series properties tests conducted on variables. Data for the study covered from 1977 to 2009. The findings showed that transportation played an insignificant role in the determination of economic growth in Nigeria. An increase in public funding and complete overhauling of the transportation system in the country are suggested.
Keywords
Infrastructure, Investment, Transport, Economic Growth
To cite this article
Oyesiku Kayode, Onakoya, Adegbemi Babatunde, Folawewo Abiodun, An Empirical Analysis of Transport Infrastructure Investment and Economic Growth in Nigeria, Social Sciences. Vol. 2, No. 6, 2013, pp. 179-188. doi: 10.11648/j.ss.20130206.12
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