NATIONAL SAVINGS AND ECONOMIC GROWTH IN NIGERIA
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- NGN 3000
ABSTRACT
The research work studied the national savings and Nigerian economic growth, spanning from 1970-2007. The study adopted Ordinary Least Square (OLS) single equation model. Using time series data over the period, the work shows that National Savings is not significant at SY level and it granger causes real gross domestic product. The study also shows that exchange rate is significant in its contribution to economic growth. The investment as one the of explanatory variables is significant and supports the idea that most of the investments in Nigeria are not from savings. The study also reveals that money supply has no impact on Nigeria’s economic should increase national savings through increased interest rate on deposits and also maintain its managed floating exchange rate policy.
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