Housing and Economic Growth Nexus in Nigeria: Data-Based Evidence

<p>Housing is considered as one of the cardinalmeasures of the state of an economy. This paperemployed data-based evidence to explore housingsector-economic growth relationship in Nigeriaduring 1980-2015. Choice variables were realestate business services (REBS), building constructioninvestmen...

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Bibliographic Details
Main Authors: Andy Titus OKWU, Mokgadi NGOEPE-NTSOANE, Obiakor Rowland TOCHUKWU, Timothy Chidi OBIWURU
Format: Article
Language:English
Published: Babes Bolyai University 2017-06-01
Series:Transylvanian Review of Administrative Sciences
Subjects:
Online Access:https://rtsa.ro/tras/index.php/tras/article/view/525
Description
Summary:<p>Housing is considered as one of the cardinalmeasures of the state of an economy. This paperemployed data-based evidence to explore housingsector-economic growth relationship in Nigeriaduring 1980-2015. Choice variables were realestate business services (REBS), building constructioninvestments (BCI), property rights index(PRI) and human labor (L) engaged in the sector.Anchored on perceived interactions amongthe variables, articulated conceptual modelpreceded an analytic model modifi ed from theendogenous growth model of economic theory.Graphical and econometric techniques were employedto analyze the data sets on the variablesfor trends in time series values of the variables;and the effects of the housing sector variableson growth of the economy. The results showedthat housing services delivery had long-run relationshipand signifi cantly spurred growth of theeconomy. Further, housing services delivery andgrowth of the economy had high speed adjustmentcoeffi cient to long-run equilibrium growthpath under stable structural housing sector servicesdelivery and appropriate human labor mixparticipation. Therefore, the paper concludedthat housing services enhanced growth of theeconomy, and emphasized the need for appropriatehuman, capital and fi nancial policies forthe sector to engender sustainable growth anddevelopment of the Nigerian economy.</p>
ISSN:1842-2845