Foreign private investment and economic growth in Nigeria

• Osinubi, Tokunbo Simbowale ^[1] ; Amaghionyeodiwe, Lloyd Ahamefule ^[2]
  1. [1] Prince George's Community College

     Prince George's Community College

     Estados Unidos

     
  2. [2] University of the West Indies

     University of the West Indies

     Jamaica

     
• Localización: Applied econometrics and international development, ISSN 1578-4487, Vol. 10, Nº. 2, 2010, págs. 189-200
• Idioma: inglés
• Enlaces
  • Texto completo (pdf)
• Resumen

  • Despite the increased flow of investment to developing countries in particular, Sub-Sahara African (SSA) countries, Nigeria inclusive, are still characterized by low per-capita income, high unemployment rates and low and falling growth rates of GDP, problems which foreign private investment are theoretically supposed to solve. The Nigerian government has been focusing on policies that will help attract foreign investors and yet the economy is still dwindling. It is against this background, that this study analyzed the direction and significance of the effect of foreign private investment on economic growth in Nigeria. Secondary data for the period 1970 to 2005 was used for the study. Among the findings was that Foreign Private Investment, Domestic Investment growth and Net Export growth were positively related to economic growth in Nigeria. More so, the Foreign Private Investment, Domestic Investment growth, Net export growth and the lagged error term were statistically significant in explaining variations in Nigeria's economic growth.