FOREIGN PRIVATE INVESTMENT, CAPITAL FORMATION AND POVERTY REDUCTION IN NIGERIA
Journal Title: European Journal of Business and Social Sciences - Year 2014, Vol 2, Issue 10
Abstract
This study investigates the relationship between Foreign Private Investment, Capital Formation and Poverty reduction in Nigeria, using co-integration and Error correction Mechanism (ECM) and Granger Causality tests with annual time series data covering the period between 1978 and 2008. The various tests demonstrated that the inflow of foreign Private Investment in Nigeria has not significantly contributed to poverty alleviation in Nigeria. The study also shows that government investment on health and education has not helped to reduce poverty in Nigeria. The study further task the government at all levels to encourage the inflow of foreign private investment and intensify efforts at curbing capital flight. This would expand government spending on education and health sectors, and with the expectation that proper accountability and transparency on the part of the government are ensured in order to reduce poverty to the bearest minimum in Nigeria.
Authors and Affiliations
Simon-Oke| Department of Project Management Technology, School of Management Technology, Federal University of Technology, Akure,Ondo State,Nigeria. E-mail: yempej@yahoo.com, O. Olayemi| Department of Project Management Technology, School of Management Technology, Federal University of Technology, Akure,Ondo State,Nigeria. E-mail: yempej@yahoo.com
Keywords
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- EP ID EP10348
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