2016
DOI: 10.6007/ijarems/v5-i2/2168
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An Empirical Analysis of the Impact of Capital Flight on Nigeria Economy

Abstract: This research work presents an empirical analysis of the impact of capital flight on Nigeria economy. The research work made use of secondary data collected from Central Bank of Nigeria's Statistical Bulletin of various issues and National Bureau of Statistics. The empirical measurement covers the sample period between 1980 and 2014. An Ordinary Least Square (OLS), Augmented Dickey-Fuller unit root test and Co-integration test were adopted to carry out an extensive analysis of the adopted variables which inclu… Show more

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Cited by 5 publications
(8 citation statements)
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References 2 publications
(4 reference statements)
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“…In spite of every efforts made by the government to attract foreign capital inflows, these inflows have not played its expected role in economic transformation in particular and economic growth and development of the nation in general. Also, there are numerous empirical studies with conflicting claims concerning the effect of capital flight on the economy of a country, while some researchers argue that capital flight has a negative impact on the economy [7,8,9,10] , others had maintained an opposite view arguing that capital flight do not impact negatively on an economy [11,12,13], thus the researchers here seem to be caught in the web of confusion concerning which group to agree with. It is against this backdrop that this study conducted to find out the macroeconomic effects of capital flight on the human development index in Nigerian.…”
Section: Statement Of the Problemmentioning
confidence: 98%
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“…In spite of every efforts made by the government to attract foreign capital inflows, these inflows have not played its expected role in economic transformation in particular and economic growth and development of the nation in general. Also, there are numerous empirical studies with conflicting claims concerning the effect of capital flight on the economy of a country, while some researchers argue that capital flight has a negative impact on the economy [7,8,9,10] , others had maintained an opposite view arguing that capital flight do not impact negatively on an economy [11,12,13], thus the researchers here seem to be caught in the web of confusion concerning which group to agree with. It is against this backdrop that this study conducted to find out the macroeconomic effects of capital flight on the human development index in Nigerian.…”
Section: Statement Of the Problemmentioning
confidence: 98%
“…Adebayo and Ayodele [12], conducted an empirical analysis of the impact of capital flight on Nigeria economy using secondary data covering the period 1980 to 2014. The Ordinary Least Square (OLS), Augmented Dickey-Fuller unit root test and Co-integration tests were adopted to carry out an extensive analysis of the adopted variables which include Gross Domestic Product, capital flight and exchange rate.…”
Section: Empirical Reviewmentioning
confidence: 99%
“…The further recommended for strong foreign exchange control policies to help determine value of the exchange rate. Saheed and Ayodeji (2012) examined the effects of capital flight on exchange rate and economic growth in Nigeria, adopting Ordinary Least Square method to analyze the Central Bank of Nigeria and National Bureau of Statistics secondary data. The results show that capital flight has a positive and statistically significant effects on the exchange rate in Nigeria, and in difference to previous work, capital flight has a positive effect on economic growth in Nigeria.…”
Section: Empirical Literature Reviewmentioning
confidence: 99%
“…Thus in spite of several government efforts in attracting foreign capital inflows, these inflows have not played its expected role in economic transformation in particular and economic growth and development of the nation in general. Also, there are numerous empirical studies with conflicting claims concerning the effect of capital flight on the economy of a country, while some researchers argue that capital flight has a negative impact on the economy [7], (Olugbenga & Alamu, 2013); [8,9], others had maintained an opposite view arguing that capital flight do not impact negatively on an economy [5, 10,11], thus the researchers here seem to be caught in the web of confusion concerning which group to agree with. It is against this backdrop that this study was conducted to find out the effects of capital flight on Unemployment in Nigerian.…”
Section: Statement Of the Problemmentioning
confidence: 99%
“…Adedayo and Ayodele [10], conducted an empirical analysis of the impact of capital flight on Nigeria economy using secondary data covering the period 1980 to 2014. The Ordinary Least Square (OLS), Augmented Dickey-Fuller unit root test and Co-integration tests were adopted to carry out an extensive analysis of the adopted variables which include Gross Domestic Product, capital flight and exchange rate.…”
Section: Auzairy Et Al [1]mentioning
confidence: 99%