Kwara State University
OLORUNTOBA OYEDELE
Designation: LECTURER 1
Department: Accounting and Finance
| My Publications | ||||||||
|---|---|---|---|---|---|---|---|---|
| S/N | Title | Abstract | Authors | Volume Numbers | Publication Type | Publication Date | Link | |
| 1 | EFFECT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN NIGERIA |
This study examined the effect of foreign direct investment on economic growth in Nigeria. The study covered the period 1981 to 2017. The study used secondary data derived from the Central Bank of Nigeria statistical bulletin and publications of the National Bureau of Statistics. The study employed multiple regression technique. The results showed that foreign direct investment has a positive and significant effect on gross domestic product. It was also found that exchange rate has a positive but not significant effect on gross domestic product. A 1% increase in FDI will lead to about 52% increase in GDP in the current year. The result was however significant with p 0.0726 which indicates that p <0.1. Thus, the study concluded that findings and belief of some researchers and other stakeholders that foreign direct investment has a negative effect on the growth of economy. It was recommended that government will have to improve the state of infrastructures in the country in order to encourage meaningful investments in the economy. Also, the Central Bank of Nigeria should come-up with polices that will help to stabilize the Naira exchange rate vis-à-vis the major currencies of the world. This is with a view to boosting the investors' confidence in the economy. Keywords: Foreign Direct Investment, Economic Growth, Exchange Rate | Oyedele, O. | Vol. 3 issue 2. ISSN: 0442-01489. | Research Journal of Accounting and Finance | 2019-12-31 | ||