The study employed the Toda and Yamamoto (1995) and Dolado and Lutkepohl (1996) –TYDL methodology to uncover the direction of causal relationship between savings and economic growth in Nigeria between 1970 and 2006. The empirical results suggest that savings and economic growth are positively cointegrated, indicating a stable long-run equilibrium relationship. Further, the findings revealed a unidirectional causality between savings and economic growth and the complementary role of FDI in growth.
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Olajide S. Oladipo (2010) studied this question.