Cost of road infrastructure development, macroeconomic conditions and Nigeria’s economic growth

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dc.contributor.authorBabalola, A.J.
dc.contributor.authorIwegbu, O.
dc.date.accessioned2021-08-05T12:27:27Z
dc.date.available2021-08-05T12:27:27Z
dc.date.issued2021-03
dc.descriptionScholarly articlesen_US
dc.description.abstractThe fluctuations of the macroeconomic environment in Nigeria are causing high cost of road infrastructure development thereby affecting the economic growth of the country negatively. The aim of this study is to investigate the influence of cost of road infrastructure development and some selected macroeconomic variables such as inflation rate, interest rate, exchange rate on the economic growth in Nigeria. The research design adopted in this study was an “ex-post facto” type, otherwise known as a causal comparative design. Autoregressive Distributed Lag Model (ARDL) estimation technique was employed to estimate the regression. The result from the study shows that sustained increase in the cost of road infrastructure dampens the nation’s economic performance as the sustained increases impact heavily on the fiscal component of government resources thereby gulping much of it that would have been channeled to other sources of the economy. Also, depreciation of the currency does not improve economic performance. Further result suggests that there is thus a lag between the period foreign direct investment inflows impacts on the economy while inflation rate significantly enhances the economic performance and lagged interest rate has negative impact. The recommendation from this study is that government must come up with policies that will stabilize the macroeconomic environment in the country so that the cost of development of projects with respect to road construction can decline, this ensures sustainable growth.en_US
dc.identifier.citationBabalola, A.J., & Iwegbu, O. (2021). Cost of road infrastructure development, macroeconomic conditions and Nigeria’s economic growth. Lagos Journal of Architecture, 5, 21 – 44en_US
dc.identifier.issn2645-2669
dc.identifier.urihttps://ir.unilag.edu.ng/handle/123456789/9518
dc.language.isoenen_US
dc.publisherLagos Journal of Architectureen_US
dc.relation.ispartofseriesLagos Journal of Architecture;5
dc.subjectCost of Road Constructionen_US
dc.subjectMacroeconomic Factorsen_US
dc.subjectRoad infrastructureen_US
dc.subjectEconomic Growthen_US
dc.subjectNigeriaen_US
dc.subjectResearch Subject Categories::SOCIAL SCIENCES::Business and economics::Economicsen_US
dc.titleCost of road infrastructure development, macroeconomic conditions and Nigeria’s economic growthen_US
dc.typeArticleen_US
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