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Investigating The Effects of Foreign Direct Investments and Remittances On Economic Growth in Nigeria: A Vector Autoregressive Approach - Couverture souple

Omolaja, Fagbola Oluwatobi; Adegbite, Esther Oluwafunmilayo; Oke, Babatunde Olufemi

 
9781952751646: Investigating The Effects of Foreign Direct Investments and Remittances On Economic Growth in Nigeria: A Vector Autoregressive Approach
Couverture souple
ISBN 10 : 1952751640 ISBN 13 : 9781952751646
Editeur : Eliva Press, 2020

Synopsis

In an attempt to ensure greater participation in the global economy, developing countries have increasingly liberalized, privatized and deregulated their economies since the mid-1980s. More welcoming policies to attract foreign capital inflows have been a prominent component of this trend. In this study, an attempt is made to analyze the impact of foreign direct investment and remittances inflow on economic growth of Nigeria in a quest to find a reasonable answer to the question of whether FDI and remittances inflows constitute vital sources of economic growth to Nigeria. The study employed the Vector Autoregressive (VAR) approach. It was established that foreign direct investment has a positive but non-significant impact on Nigeria’s economic growth. However, it is evident from the outcome of the study that the remittances inflow has a negative though non-significant impact on Nigeria economic growth. The policy implication of this study is that government should build an investment-friendly environment free of insecurity and corruption, reduce the cost of doing business and put in place the mechanism to attract more capital inflows to boost domestic production. By doing this, Foreign investors will have confidence in Nigeria economy and commit more funds in form of Foreign Direct Investment in Nigeria which will enhance domestic production. Remittances inflow can then be channeled to consumption of these domestic goods and services rather than on imported goods. This will increase aggregate demand and ultimately affect output and growth in Nigeria.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Éditeur
Eliva Press
Date d'édition
2020
Langue
anglais
ISBN 10 
1952751640
ISBN 13 
9781952751646
Reliure
Broché
Nombre de pages
40
Coordonnées du fabricant
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