Application Of Autoregressive Distributed Lag Model To Effect Of Savings On Economic Growth In Nigeria
It is a belief that countries that save more also tend to grow faster provided the financial system is deep. The study was conducted to determine the effect of savings on Economic Growth in Nigeria. Data on Gross Domestic Product (GDP) and Total Savings (TSA) were collected from the Central Bank of Nigeria Statistical Bulletin spanning from 1960 through 2013. Analysis of data was achieved using the Augmented Dickey-Fuller test for stationarity, the ARDL Bounds test for Cointegration, the Error Correction Mechanism for reconciling the short-run and long-run relationships and the Wald test to determine the short-run causality .The results indicate that TSA at various lags signicantly influence
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