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Cybersecurity as Economic Infrastructure: Empirical Evidence on Growth, Externalities, and Policy Coordination in Nigeria’s Digital Economy

Article scientifique 2026 Autre

Résumé

This study examines cybersecurity as a critical economic infrastructure and investigates its implications for digital economy growth in Nigeria from 2010 to 2025. Despite the rapid expansion of digital technologies, limited attention has been given to cybersecurity as a productive driver of economic performance, particularly in emerging economies. This study addresses this gap by analyzing the long-run and short-run relationships among cybersecurity investment, digital economic growth, policy coordination, and cyber-risk externalities. Using annual time-series data, the study adopts an Autoregressive Distributed Lag (ARDL) model, Error Correction Mechanism (ECM), and robustness estimators including FMOLS and DOLS. Findings from the bounds test confirm the existence of a long-run equilibrium relationship among the variables. The ARDL estimates reveal that cybersecurity investment and policy coordination exert positive and statistically significant effects on digital economy growth, while cyber-risk externalities negatively affect digital performance. The ECM results indicate a strong speed of adjustment toward long-run equilibrium following short-run shocks. Robustness checks validate the consistency of these findings. The study further shows that digital human capital complements cybersecurity investments in supporting digital transformation. Simulation evidence suggests that increased cybersecurity spending and stronger institutional coordination significantly improve digital economic outcomes. The findings support the argument that cybersecurity is not merely a technical safeguard but a productive form of digital infrastructure essential for economic resilience, innovation, and sustainable digital growth. The study recommends stronger cybersecurity investment, improved governance coordination, and integration of cybersecurity into Nigeria’s broader digital development strategy.

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Yusuf, J., Yusuf, I. (2026). Cybersecurity as Economic Infrastructure: Empirical Evidence on Growth, Externalities, and Policy Coordination in Nigeria’s Digital Economy. https://doi.org/10.69739/jsdl.v1i1.1796

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Auteur(s)

Jamiu Adeniyi Yusuf Ibrahim Ayodele Yusuf

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