Capital Inflow and Economic Growth in Nigeria attempts to examine the sources of Inflow, the types, distribution of inflow and the role of this inflow in economic growth of Nigeria. Nigeria is one of the sub-saharan countries in Africa that adopts foreign policy which embraces Capital Inflow in line with the opinion of the neo classical economists. The position of the economists holds true in Nigeria. Foreign capital contributes positively to economic growth.
The book examined the impact of petroleum sector and Economic growth in an emerging economy like Nigeria.The study became necessary due to the under development experienced in spite of the high revenue generated from the sales of crude oil at the international market in the study area. Generally, it is observed that petroleum sector had an impact on economic growth in Nigeria. The study concluded by identifying government expenditure as a driving force to economic growth in Nigeria. In addition, primary product export and Gross capital formation (investment) were identified as key variables that spur economic growth in Nigeria.
This study examines investment expenditure and economic growth in Nigeria from 1978-2009. Simple regression model, based on ordinary least square (OLS) technique was employed in analyzing each aspect of investment expenditure, using annual time series data. The empirical findings indicate that capital expenditure on education, health, transport and communication are indispensable in achieving economic growth in Nigeria and that an increase in government spending in any of the aspects will bring about increase in economic growth. The results further suggest that economic growth granger causes both capital expenditure on education and health, but not the other way round. No causality was found between economic growth and capital expenditure on transport, while economic growth and capital expenditure on communication have a bi-directional causality. The result also indicates that government spending on social infrastructure contributes more to economic growth than spending on physical infrastructure in Nigeria
This Book is submitted to the Department of Economics, Bayero University, Kano in partial fulfillment of the requirements for the award of Masters Degree of Economics (M.Sc ECONOMICS). The book examined the relationship between natural gas utilization and economic growth in Nigeria. It further checked for the direction of Causality between natural gas utilization and economic growth and in extension examined the long-run impact of natural gas utilization on the economy using production function approach. Based on its findings, the book has reached to the conclusion that natural gas utilization is an increasing function of economic growth and recommends that to achieve any future targeted rate of economic growth, the policy makers in Nigeria should prioritize gas utilization strategy.
Nigeria has the potential to become Sub-Saharan Africa’s largest economy because of its rich human and natural resources. These vast natural resources qualify Nigeria to be a major recipient of foreign direct Investment. Foreign Direct Investment in turn is believed to be an engine of economic development in that it brings about the transfer of technology, managerial skills, international production, access to markets, etc. A number of studies have been conducted on the Impact of Foreign Direct Investment on Economic Growth, with most of those studies focusing on cross-country studies. Yet, results about the relationship between foreign direct investment and economic growth come with varying outcomes. This Bachelor’s thesis focused exclusively on Nigeria with a view to analysing the role foreign direct investment has played on economic growth in Nigeria since independence. This thesis concludes by making important recommendations that are particularly useful to investors who want to invest in Nigeria; academicians interested in studies of FDI-growth linkage; and to policymakers to adopt some measures to further strengthen and improve investment environment in Nigeria.
The book is made up of 5 chapters covering aspects of financial sector development and economic growth in Nigeria. The book documents past financial sector development modeling efforts of some renowned scholars in a way that will be widely accessible to policy makers, policy advisers and those with research interests in financial sector development.
The book examined the impact investment on economic growth in Nigeria.The book also assessed to failure or success of saving and investment gap in Nigeria.The study used annual data spanning from 1976 to 2006 on domestic investment proxy by capital formation and domestic saving in an effort to find out their impact on economic.It concluded the savings and investment engenders economic growth in Nigeria
This is strictly an examination of the effect of non-oil export on economic growth of Nigeria. The basic aim is to examine the trend and composition of the non-oil export in Nigeria and investigate the extent of the contribution of non-oil export sector to the Nigerian economy. The study generate serious academic interest in evolving new methods and strategies needed in developing non-oil exports for higher productivity and efficient performance which in the long run will result to economic growth and development. Hence it evaluates the federal government incentives and schemes in promoting non-oil export trade promotion in Nigeria with focus on the immense derivable benefits from engaging in non-oil export and the resulting economic growth in Nigeria at aggregate level which are associated with the current international trends in global trade liberation. Virtually all the nations’ foreign exchange was obtained from the exportation of oil products due to the economic boom in 1970s. Thus, it is pertinent in this study to discuss the causes and consequences of the neglect of the non-oil export in detail as well as trend examined since 1970 in order to note its growth.
The book examined the effect of Information communication technology on Nigeria Economic Development.It also assessed the nature of technologies driving information and communication technologies and appraised the status of ICT on technological infrastructure in Nigeria.The book concluded that ICT has contributed positively to the economic growth and development of Nigeria and the impact will also help to improve growth of the economy in the future with an increasing rate of ICT in the economy.
This book offers an investigation to the links between financial sector reforms and economic growth in Nigeria. It discovered the channels through which financial liberalization contributed to the economic growth in Nigeria. This book reveals that all is not well with the McKinnon and Shaw postulation as interpreted and applied to Nigerian economy. The target of achieving positive and rising real deposit rate via increase in nominal interest rate was obviously a wrong approach given the structure of the economy and the connection between the financial system. A more effective means to improve real interest rate would be through macroeconomic stabilization and fiscal reforms. However, the book revealed a linkage between financial sector and economic growth. Although the results were mixed, the estimated results reveal that changes in exchange rate affect GDP i.e. exchange rate and have significant impacts on economic growth. In addition, a positive impact in exchange rate will have a positive impact on economic growth. Hence, these results show the need to sustained reforms in the financial sector in order to enhance economic growth.
This book is concerned with the role of stock market development on economic growth within the Nigerian context. The author examines the long run causal relationship between the stock market development and economic growth. Essentially the study uses the endogenous growth theory as a basis of its theoretical foundation. The study uses one banking sector variable and three measures of stock market development over the period of 1980 - 2007 The author’s findings from the study suggest that stock market development has impacted on economic growth in Nigeria. The study also finds evidence of a bi-directional relationship between stock market development and economic growth. The findings of the study support the view that stock market development and economic growth in Nigeria are complementary. The contribution of this study lies in the fact that it provides additional evidence on the ongoing debate of the impact stock markets have on the economic growth process within a specific country. This work will be of interest to people interested in stock markets, financial and economic development, time series analysis as well as African studies.
Using a macroeconomic approach, this work examined the role of foreign private investment (FPI) and capital formation in the economic growth of Nigeria.In order to achieve our objectives, we estimated the model of capital formation and economic growth for Nigeria. We found, that foreign private investment has a negative impact on capital formation in Nigeria. We also found that both foreign private investment and capital formation, in addition to other factors, significantly determine economic growth in Nigeria.Again we found that the long run impact of capital formation and foreign private investment on economic growth is larger than their short run impact. There is thus a long run equilibrium relationship among the variables as the error correction term is significant, but the speed of adjustment is small in both models. We estimated two stage least squares counterpart of the models in order to check for endogeneity bias.Our findings therefore have some policy implications: First, policies that enhance capital formation and FPI inflow do increase economic growth. Second, banking systems credit to domestic economy enhances capital formation and economic growth.
The developing countries generally lack sufficient capital to boost economic growth and development, hence fDI inflows are required to augment domestic capital so as to help accelerate the pace of economic growth and development in these countries. In Nigeria, the overall economic performance since independence has been rather unimpressive. Despite the availability of huge oil resources, its growth rate has been quite feeble. GDP growth rate was even negative for many years especially in the first half of the 1980s when the collapse of crude oil prices triggered an acute economic crisis in Nigeria.This weak economic performance especially in the past three decades has been attributed to a host of factors more particularly the collapse of investments in the 1980s and beyond. Against this background, the study uses recent econometric techniques to critically examine the relationship between FDI and Economic Growth in Nigeria both in the short-run and long-run since the period of Nigeria's political independence to 2012.
The book "Relationship Between Unemployment and Economic Growth in Nigeria" tries to explain the interactions between these two important concepts unemployment and economic growth especially as it is in Nigeria and in the world, using the Okun`s Law as the theoretical foundation. In order to achieve this, recent literature were reviewed. Also, time series data were used to empirically ascertain the nature of these interactions; ranging from the short-run impacts (OLS), direction of causality (Granger causality), long run relationship (Jansen Co integration) and then the error correction mechanism (ECM). The interesting thing about the ECM is that it was computed using the generalized linear model (GLM). This work will expose readers to latest techniques used in analyzing time series data as well as make them conversant with applied econometrics.