THE IMPACT OF CAPITAL FORMATION ON INDUSTRIAL GROWTH IN NIGERIA: LESSONS FROM SOUTH KOREA EXPERIENCE
- 발행기관 아주대학교
- 지도교수 Han Sung Kim , PhD
- 발행년도 2014
- 제출일 2014-06-17
- 학위수여년월 2014. 7
- 학위명 석사
- 학과 Graduate School of International Studies 국제통상학과
- 실제URI http://www.dcollection.net/handler/ajou/000000016944
- 본문언어 영어
- 저작권 아주대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
ABSTRACT The paper emanate from the framework of the national plan of the nation that envision Nigeria to be among the first twenty economies by the year 2020 and it focuses on the impact of capital formation, national savings on industrial growth and the policy lessons that could be learn from South Korea’s industrial policy. In order to widening the nation’s economic opportunities, it stresses the role of national savings as means to kick start the infrastructure development in terms of local financing, based on the prospect of home-grown economic development that could catalyzes the appropriate 3Is (Instrument, Institution and Investment) leading the oil rich nation into being the acclaimed giant of Africa. Most especially, now that it has just been declared the largest economy with a GDP of $509 Billion in Africa overtaking Egypt and South Africa in the region after her just concluded economic rebasing. The theoretical framework upon which this work is based includes the Harrod-Domar model of economic growth and Gerschenkron’s great spurt theory. The former opines that economic growth stems from the rate of savings which has a direct bearing on the physical capital accumulation and hence on capital output ratio. The latter on the other hand incorporates population growth (which is included as a control variable in the model used for this research work) as a basic factor in fostering industrialization. The result of this study shows that National savings and capital formation is paramount to spur industrial growth in Nigeria. Key words: Capital formation, national savings, diversification, industrialization.
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TABLE OF CONTENTS
ABSTRACT i
AKNOWLEDEMENT ii
DEDICATION iii
List of Figures vi
List of Tables vi
LIST OF ABBREVIATIONS vii
CHAPTER ONE 1
1.0 INTRODUCTION 1
1.1 An Enquires into Nigeria’s developmental planning Backstops and itimplication on industrial growth. 2
1.3 BACKGROUND OF STUDY 6
1.4 STATEMENT OF PROBLEM 7
1.5 JUSTIFICATION/SIGNIFICANCE OF STUDY 8
1.6 OBJECTIVE OF THE STUDY 8
1.8 SCOPE OF THE STUDY 8
1.9 RESEARCH HYPOTHESIS 9
CHAPTER TWO 10
2.0 LITERATURE REVIEW AND THEORETICAL FOUNDATION 10
2.2 THE CONCEPT OF CAPITAL FORMATION 11
2.2.1 Industrialization and Capital formation 12
2.3 RELATIONSHIP BETWEEN CAPITAL FORMATION AND GROWTH OF THE INDUSTRIAL SECTOR 17
2.4 THEORETICAL FRAMEWORK 18
2.5 EMPIRICAL FRAMEWORK 20
CHAPTER THREE 29
METHODOLOGY 29
3.1 INTRODUCTION 29
3.2 MODEL SPECIFICATION 29
3.3 METHOD OF ESTIMATION 30
3.4 DATA SOURCES 30
3.5 EVALUATION CRITERIA 30
3.5.1 Economic A priori Criteria 30
Chapter Four 36
Result and Discussions 36
4.1 Pre-tests 36
CHAPTER FIVE 43
5.0 CONCLUSION, POLICY IMPLICATION AND RECOMMENDATION 43
REFERENCES 48
