FOREIGN PRIVATE CAPITAL INFLOWS AND ECONOMIC GROWTH IN NIGERIA
Journal Title: European Journal of Business and Social Sciences - Year 2015, Vol 4, Issue 8
Abstract
Foreign capital inflows into recipient economies have been viewed as a stimulant to improved economic growth. This is anchored on the belief that they help to boost investment and productivity. It is in the light of this, that this study empirically examines the effect of foreign private capital inflows on Nigerian’s gross growth rate (GDP), gross savings and investment, using data from period 1980 to 2013. The research design adopted for this study is the ex-post factor research design. The Ordinary Least Square (OLS) Regression technique was also employed in testing the causal relationship between foreign capital inflow and GDP, domestic investment and domestic savings in Nigeria. Findings from the analysis reveal that foreign capital inflow has a positive but insignificant effect of on economic growth (GDP) and domestic investment, while having a negative and non-significant effect on national savings. The study therefore, recommends a re-assessment of government’s foreign direct investment policies as well as institutional and general macro-economic policies to make them more hospitable to foreign funds.
Authors and Affiliations
Edu, Gabriel Tobi| Department of Banking and Finance, Department of Accountancy Delta State polytechnic, Ogwashi-Uku, Nigeria +234 803 3342 387 or edutobi@yahoo.com, Inaya Lucky| Department of Banking and Finance, Department of Accountancy Delta State polytechnic, Ogwashi-Uku, Nigeria +234 803 3342 387 or edutobi@yahoo.com, Bassey, A Francis| Department of Banking and Finance University of Uyo, Uyo, Nigeria
Keywords
Related Articles
- EP ID EP10672
- DOI -
- Views 348
- Downloads 13
PATH ANALYSIS IN COVARIANCE-BASED STRUCTURAL EQUATION MODELING WITH AMOS 18.0
Path analysis in structural equation modeling has been discussed in numerous articles by renowned researchers and scholars. Specifically, the proposed method is absolutely power to intensify the statistical analysis b...
COMPETITION OF THIRD SECTOR ORGANIZATIONS IN THE PURSUIT OF SUSTANIBILITY WITHIN THE TURKISH CONTEXT
Third sector organizations - not-for-profits, civil society, charity, foundations, associations, trusts, cooperatives, social enterprises and unions- are now considered among few of the dynamics that can bring social...
EVALUATION OF FACTORS INFLUENCING TOTAL QUALITY MANAGEMENT IMPLEMENTATION IN RWADAN CONSTRUCTION COMPANIES: CASE OF FAIR CONSTRUCTION COMPANY
The role of construction quality and continuous improvement is vital in the development of construction industry of growing nations. Construction quality and regular improvement is linked with the adoption of quality...
PURCHASING PRACTICE IN ZIMBABWEAN STATE UNIVERSITIES
This research studied five state universities in Zimbabwe to evaluate the extent to which purchasing is regarded as a strategic activity. Interviews were conducted at each of the five universities. It was found out th...
ECOLOGICAL TAXATION ON SUSTAINABILITY CONTEXT FOR LOCAL INTEGRATED DEVELOPMENT
The objective of this work aims to verify, the contribution of the Ecological VAT for environmental sustainability in the municipality of Guajará-Mirim. This innovative instrument for allocating tax revenue in Brazil...