Adetiloye, K. A. and Eke, O. P. and Taiwo, J.N. (2017) Public-Sector Project Abandonment Decision: A Test of the Ricardian Equivalence Theory on the Failed Lagos Metroline in Nigeria. In: Social, Health, and Environmental Infrastructures for Economic Growth. Information Science Reference (an imprint of IGI Global).
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Abstract
This chapter examines the implications of projects abandonment with test of the Ricardian Equivalence on the failed Lagos metro line project in Nigeria as case study. The main variables used are Rail and Pipeline Output, Budget Deficit, Interest Rate, Corruption Index, Savings and some others. The study results on the Ricardian Equivalence hypothesis on deficit financing of projects using Vector autoregression model from 1980-2012 indicate that no causal influence holds in Nigeria. Results show that poor planning, corruption, political factors, poor support infrastructures, poor quality of local resources, etc. were attributable. The results of the Impulse Response tests reveal that Rail and Pipeline output and a few others responded positively to shocks in the short run (years 1-2), and negatively to others. The result affirms that Government should privatize the railway system, legislate against project abandonment and ensure that projects are adequately planned, funded, insured and insulated against corruption
| Item Type: | Book Section |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HF Commerce |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Hannah Akinwumi |
| Date Deposited: | 24 Mar 2017 14:57 |
| Last Modified: | 28 Dec 2017 20:50 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/8027 |
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