期刊名称：Izvestiya: Journal of Varna University of Economics
印刷版ISSN：2367-6361
电子版ISSN：2367-6957
出版年度：2019
期号：2
页码：1-16
出版社：University of Economics Varna
摘要：Sustainable development requires not only satisfying the need of the present generation
but also to preserve the environment and meet the need of generations to come.We
examined the effect of infrastructural investment on sustainable development by
investigating the causality relationship between infrastructural investment and
sustainable development and analyze the relative effect of social and economic
infrastructure on sustainable development in Nigeria. Based on ex post factor research
design and following Romer (1986) growth model framework sustainable development
was a function of gross fixed capital formation, social infrastructure and economic
infrastructure. The study utilized annual time series data covering 1980 to 2016 from
Central Bank of Nigeria Statistical Bulletin while the Granger causality and Fully
Modified Ordinary Least Squares (FM-LS) technique was used in the estimation.It was
found that gross fixed capital formation and economic infrastructure exert a significant
positive effect on sustainable development while social infrastructure exerts a significant
negative effect on sustainable development in Nigeria. Also, a uni-direction causality
relationship between sustainable development and infrastructural investment was found
which runs from fixed capital formation, social infrastructure and economic
infrastructure to sustainable development growth.We conclude that, though
infrastructure has effect on sustainable development in Nigeria, the effect of each of its
two components on sustainable development differs. As a policy measure, government
needs to raise investment in infrastructure and broaden the sources of finance for
infrastructure and ensure efficient allocation of public resources. Also, there is the need
to revitalize public-private partnership on social infrastructure to engender sustainable
economic growth in Nigeria.
关键词：Infrastructure; Development;
Sustainable Development;
Capital formation; Growth;
