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RESEARCH ON THE PATH OF SUSTAINABLE DEVELOPMENT OF NIGERIA’S LOGISTICS INDUSTRY DRIVEN BY CAPITAL FACTORS
Abstract:
In order to identify the path of the sustainable development of Nigeria’s logistics industry, this paper creatively constructs the LMDI (Logarithmic Mean Index Method) model of capital factor investment, analyzes the main driving forces of the development of Nigeria’s logistics industry and its sustainability, and discusses the key factors and realization path of the sustainable development of the logistics industry. This study can provide expertise to a vast number of developing countries. The research results indicate the following: (1) Capital scale expansion is the principal driving force in the development of the logistics industry. As the capital investment efficiency of the logistics industry crosses the threshold value, capital investment scale expansion has a long-term positive effect on the development of the logistics industry. The key to achieving sustainable development in Nigeria’s logistics industry is to improve the efficiency of capital investment. (2) Improving the institutional environment can reduce the competitive pressure of foreign direct investment (FDI) on the logistics industry, weaken the crowding-out effect on capital investment efficiency, and assist in the sustainable growth of the industry. (3) An improvement in capital investment efficiency is promoted by capital mobility; however, these effects differ depending on the region.
Keywords: logistics industry; capital factor input; capital investment efficiency; sustainable development