Publisher: Bachudo Science Co. Ltd

Analysis of The Macro Economic Effect of The Productivity of Social Overhead Capital (SOC) Investment On Nigeria'S Economic Growth, 1980-1998

Okon E. Akpan
KEYWORDS: Social Overhead Capital (SOC) Investment, Nigeria's Economic Growth

ABSTRACT:

This study examined the quantative macroeconomic impact of Social Overhead Capital (SOC) investment on Nigeria's economic growth. Utilizing a time series data spanning the period 1 980-1998, two functional forms (linear and double-log linear models) were fitted to data. The double-loglinear regression equation, which was selected as the 'lead' equation, showed that with the exception of the number of telephones installed, other variables (electricity generation/supply in kilowatt hours, road mileage/surface area and the structural adjustment prograli'1me) significantly influenced the growth of Nigeria's Gross Domestic Product (GDP). The results inforrn that investments in Social Overhead Capital very significantly impacted on Nigeria's economic growth during the period, 1980-1998 (P < 0.01 and 0.15 respectively). 


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