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2013 (Vol. 5, Issue: 4)
Article Information:

Accelerating Economic Growth in Nigeria, the Role of Foreign Direct Investment: A Re-assessment

Okoro H. Matthew and Atan A. Johnson
Corresponding Author:  Okoro Hannah Matthew 

Key words:  Autocorrelation, economic growth, foreign investment, granger causality, lagged variables, methodology, multcollinearity, residuals
Vol. 5 , (4): 71-81
Submitted Accepted Published
October 19, 2013 October 31, 2013 December 20, 2013
Abstract:

Foreign Direct Investment (FDI) cum growth related studies is more than an academic exercise and should be viewed as such by development researchers. This stems from the backdrop that lives of important foreign officials and personnel as well as those of heads of states are involved as they cross country borders to woo foreign investors or manage their FDI in other countries. We are, consequently, concerned with the way some insensitive reports handle autocorrelation and multicollinearity regression problems in their multiple OLS analysis. We equally doubt the model specification of some investigators who, failing to consider the unavoidable time lag between FDI projects gestation period and the time FDI starts contributing to the growth economy of Nigeria, conclude that FDI does not play a major role on the nationís economy. We find, after accounting for some of the limitations of the existing literatures, that FDI occupies a significant niche in the growth economy of Nigeria.
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  Cite this Reference:
Okoro H. Matthew and Atan A. Johnson, 2013. Accelerating Economic Growth in Nigeria, the Role of Foreign Direct Investment: A Re-assessment.  Current Research Journal of Economic Theory, 5(4): 71-81.
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ISSN (Online):  2042-485X
ISSN (Print):   2042-4841
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