1. VIRGINIA NNENNA ONYEKA - Accountancy Department, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria.
2. GRACE CHINYERE EJE - Department of Banking and Finance, Enugu State University of Science and Technology (ESUT), Enugu,
Nigeria.
3. JONATHAN IBEKWE OKOLIE - Department of Business Administration, Enugu State University of Science and Technology (ESUT),
Enugu, Nigeria.
This study delves into the intricate interplay between Information and Communication Technology (ICT) goods exports, Research and Development (R&D) expenditure, and economic growth in Nigeria from 1999 to 2021. Employing the Autoregressive Distributed Lag (ARDL) model, we dissect both the long-run and short-run relationships among these variables. The empirical findings unveil compelling insights. In the long run, lagged GDP growth rate and ICT goods exports emerge as significant determinants of economic expansion, underlining the enduring impact of past economic performance and the pivotal role of the ICT sector. Conversely, short-term fluctuations in these variables show limited influence on current economic growth. The study provides critical policy implications, advocating for targeted investments in ICT, sustained focus on R&D, human capital development, economic diversification, strengthened governance, adaptive policy frameworks, and strategic integration into regional and global markets. These recommendations offer a comprehensive roadmap for policy-makers to navigate the complexities of fostering sustainable economic growth in Nigeria.
Economic Growth; ICT Exports; Research and Development; Nigeria.