Abstract
This paper employed Granger causality tests amid infrastructure spending, economic growth, and employment in Nigeria for the period 1960-2017 using vector autoregression (VAR) model. The result showed a strong causality between infrastructure investment and economic growth in Nigeria. Findings of the study shows a strong underlying relationship between e infrastructure investment and job creation. Economic growth seems to be the key drivers of government jobs and that the private sector jobs drives growth, however, public jobs have not been able to translates into additional jobs in the economy. The bounds test results specify the presence of long-run equilibrium relationship between infrastructure investment, economic growth, job creation and output thereby providing a theoretical underpinning for the empirical results.
Highlights
The prime instrument in which the intentions of population
The results show that the infrastructure investment Granger causes economic growth in Nigeria during the period under review
The diagnostic tests revealed that the model has the desired econometric properties, i.e. has correct functional form, its residuals are serially uncorrelated, normally distributed and homoscedastic; and the results reported are valid for economic inference
Summary
Economy and augments spending in infrastructure to meet welfare requirements of its. The prime instrument in which the intentions of population. Infrastructure is broadly divided into two categories: economic and social The former predictably includes power generation, communications, transport, sanitation facilities and water supply, while the latter includes health-care facilities and educational facilities yet some authors include recreational and cultural facilities. This classification is mostly ad hoc, as numerous forms of infrastructure may be considered as either social or economic infrastructure. The determinants of aggregate output are positively related to factors of production. Economic growth arises when additional factors of production turn out to be available and are put to use. It is conceivable that some factors such as political uncertainty may exercise negative impact of aggregate output.
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