Measuring The Impact Of FDI On Economic Growth In Nigeria.

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Date
2011-03
Authors
Ogunmuyiwa, M.S
Ogunleye, O.J.
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Abstract
This paper investigates the impact of FDl on Nigeria's economic growth process. In an attempt to do this, the paper tests the validity of the modernization or depending hypothesis by employing various econometric tools such as Augmented Dickey Fuller (ADF) and Phillips Perron (PP) tests, Johansen Co-integration test, the Error Correction Mechanism (ECM) and Granger Causality test on time series data from 1970-2008. The results reveal that a long run relationship exists between the variables and a unidirectional causality from FDI 10 growth was also established. Thus, empirical findings support the modernization hypothesis that FDI is growth promoting in Nigeria.
Description
Staff Publication
Keywords
Economic Growth , Foreign Direct Investment (FDI)
Citation
Ogunmuyiwa,M.S. and Ogunleye, O.J. (2011) Measuring The Impact Of FDI On Economic Growth In Nigeria. Being a Paper Presented At The 2011 New Orleans International Academic Conference organised By The Cluth Institute, New Orleans, Louisiana,U.S.A. p. 343 - 349.