2012
DOI: 10.5539/ijbm.v7n24p67
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The Determinants and Impacts of Foreign Direct Investment in Nigeria

Abstract: This paper examines the determinants and impact of FDI in Nigeria from 1970 through 2009. As a tool for economic development and means of bridging the gaps between the rich and poor nations, emerging economies grant special incentives to attract FDI, but the empirical literature is controversial about the effect of FDI on the growth and development of emerging economies. This study utilizes the Vector Error Correction Model (VECM) to examine this issue. Granger causality methodology was used to analyze and est… Show more

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Cited by 9 publications
(8 citation statements)
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“…The distinction of this study from other studies on the determinants of FDI inflows in Nigeria is that there has been a period gap as most studies stopped at 2010 (Wafure and Abu, 2010;Uwubanmwen and Ajao, 2012;Oba and Onuoha, 2013;Ndem et al, 2014). Beyond this period, lots of macroeconomic activities changed such as Nigeria GDP growing to become highest in Africa, depreciation of the Nigerian Naira to US dollar, increase in insecurity across the country which led to increase in military expenditure and fluctuations in government consumption expenditure.…”
Section: Introductionmentioning
confidence: 87%
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“…The distinction of this study from other studies on the determinants of FDI inflows in Nigeria is that there has been a period gap as most studies stopped at 2010 (Wafure and Abu, 2010;Uwubanmwen and Ajao, 2012;Oba and Onuoha, 2013;Ndem et al, 2014). Beyond this period, lots of macroeconomic activities changed such as Nigeria GDP growing to become highest in Africa, depreciation of the Nigerian Naira to US dollar, increase in insecurity across the country which led to increase in military expenditure and fluctuations in government consumption expenditure.…”
Section: Introductionmentioning
confidence: 87%
“…The result shows that economy openness is insignificant to FDI inflow in Nigeria which is against our apriori expectation. However, various studies such as Uwubanmwen and Ajao (2012); Gichamo (2012); Enu et al (2013); Blonigen and Piger (2014); Ndem et al (2014); Maghori (2014) found positive impact of openness on FDI inflows. The table also shows the result of political stability which has a positive and significant impact on FDI inflow at 1%.…”
Section: Error Correction Mechanism (Ecm)mentioning
confidence: 99%
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