The Impact of Information and Communication Technology on the Economic Growth in Nigeria

 

TABLE OF CONTENTS

Title Page                                                                                                         i

Certification                                                                                                                           ii Dedication                                                                                                                           iii

Acknowledgement                                                                                                                  iv

Table of Contents                                                                                              v

Abstract                                                                                                            vi

        CHAPTER ONE

1.0            Introduction                                                                                                                1

1.1       Background to the Study                                                                                            1

1.2       Statement of the Problem                                                                                           4

1.3       Research Questions                                                                                                    5

1.4       Objectives of the Study                                                                                              5

1.5       Research Hypothesis                                                                                                  5

1.6       Justification to the Study                                                                                            5

1.7       Outline of the Study                                                                                                   6

CHAPTER TWO: Literature Review

2.0      Introduction                                                                                            7

2.2.1   The concept of Information and Communication Technology            7

2.3      Theoretical Framework                                                                     8

2.3.1         Theory of Economic Growth                                                                9

2.3.2   Robert Solow Theory of Growth                                                          10

2.3.3      Paul Romer Theory of Economic Growth                                             10

2.3.4         The Impact of ICT on Sustainable Socio-Economic Growth                   12

2.3.5      Impact of Information and Communication Technology                            13

2.3.6   Vocational Opportunities in ICT                                                              13

2.3.7      Economic Benefits of ICT Policies                                                          14

2.4           The Relationship                                                                                    14

2.4.1      Social Benefit of ICT Policy                                                                    15

2.5       Empirical Review                                                                                                             16

CHAPTER TWO: Research Methodology

3.1       Introduction                                                                                                                18

3.2       Model Specification                                                                                                   18

3.3       Model Estimation                                                                                                       19

3.4       Model Evaluation                                                                                                       19

3.4.1    Apriori Criteria                                                                                                          19

3.4.2    Econometrics Criteria                                                                                               19

3.4.2.1  Coefficient of determination (R2)                                                                             20

3.4.2.2   Adjusted R2                                                                                                                                                                                        20

3.4.2.3    F-statistics test                                                                                                         20

3.4.2.4    Durbin Watson Test                                                                                                 20

3.4.3       Statistical Criteria (First Order Test)                                                                      20

3.5          Sources of Data                                                                                                       21

CHAPTER FOUR: Presentation and Analysis of Results

4.1       Introduction                                                                                                                22

4.2       Presentation of results                                                                                                 22

4.3       Interpretation and Discussion of Results                                                                    23

4.3       The R-squared                                                                                                             24

4.4       Adjusted R-squared                                                                                                    24

4.5       The F-statistic                                                                                                             24

4.6       The Durbin-Watson                                                                                                    24

CHAPTER FIVE: Summary, Conclusion and Recommendations

5.1     Summary                                                                                                                      25

5.2 Conclusions                                                                                                                      25

5.3 Recommendations                                                                                                            26

      Appendix 1                                                                                                                       27

      References                                                                                                                         28

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Abstract

In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. This paper examines the impact of Information and Communication Technology (ICT) use on economic growth using the ordinary least square estimator within the framework of a dynamic panel data approach and applies it to 159 countries over the period 1981 to 2015. The results indicate that there is a positive relationship between growth rate of real GDP per capita and ICT use index (as measured major household consumption government expenditure on telecom exchange rate and investment in telecommunication). I Have found a positive relationship between ICT and ecomic growth   This implies that if these countries seek to enhance their economic growth, they need to implement specific policies that facilitate ICT use.