THE CAUSAL RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN NIGERIA
| dc.contributor.author | Muhammed, A. Mainoma | |
| dc.contributor.author | Yusuf, M. Aliyu | |
| dc.date.accessioned | 2023-12-10T17:39:16Z | |
| dc.date.available | 2023-12-10T17:39:16Z | |
| dc.date.issued | 2011-06-12 | |
| dc.description.abstract | This paper investigates the impact of foreign direct investment on economic growth in Nigeria and examined the determinants of foreign direct investment into the Nigerian economy. Secondary data were sourced from the Central Bank of Nigeria statistical bulletin, the period of analysis was from 19S9-200S. The study employed Ordinary Least Square regression (OLS) and Vector Error Correction (VEC) model to ascertain both ordinary relationship as well as the direction of causality between foreign direct investment and economic growth in Nigeria. Stationarity and co-integration test were conducted to ascertain the stationarity properties of the data and their long-run relationship. The study found a strong positive relationship between foreign direct investment and economic growth and that causality runs from foreign direct investment to economic growth. The conclusion that emerged from this study is that foreign direct investment impacts significantly on real gross domestic product. The study therefore recommends the creation of technical and management support centers for the manufacturing sectors especially for the small medium enterprise (SMEs) which could provide a catalyst for productivity improvement. These centers can play a key role in assisting manufacturers to develop strategic partnership, product development, accounting and marketing supports. | en_US |
| dc.identifier.citation | Pigato, M. (2001) Foreign direct investment in Africa Old Tales and New Evidence working paper series UNCTAD (2000). Capital Flows and Growth in Africa. New York, United Nations. Vernon, R. (1966). International investment and international trade in the product cycle: Quarterly Journal of Economics 80; 190-207. World Bank. (1997). World Debt Tables: External Finance for Development Countries, Vol. 1 (Analysis and Summary Tables). Washington, D. C. The World Bank | en_US |
| dc.identifier.uri | https://keffi.nsuk.edu.ng/handle/20.500.14448/675 | |
| dc.language.iso | en | en_US |
| dc.publisher | Department of Economics, Nasarawa State University, Keffi. | en_US |
| dc.subject | Foreign Direct Investment, Economic Growth. | en_US |
| dc.title | THE CAUSAL RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN NIGERIA | en_US |
| dc.type | Article | en_US |