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2012 (Vol. 4, Issue: 5)
Article Information:

Measuring the Impact of Fdi on Economic Growth in Nigeria

M.S. Ogunmuyiwa and O.J. Ogunleye
Corresponding Author:  M.S. Ogunmuyiwa 

Key words:  Co-integration, , , , economic growth, error correction, FDIJEL CLASSIFICATION: F21, F30, F23, 040., , ,
Vol. 4 , (5): 338-342
Submitted Accepted Published
August 16, 2011 March 02, 2012 September 25, 2012

This study investigates the impact of FDI 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 Cointegration 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 to growth was also established. Thus, empirical findings support the modernization hypothesis that FDI is growth promoting in Nigeria.
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  Cite this Reference:
M.S. Ogunmuyiwa and O.J. Ogunleye, 2012. Measuring the Impact of Fdi on Economic Growth in Nigeria.  Current Research Journal of Social Sciences, 4(5): 338-342.
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ISSN (Online):  2041-3246
ISSN (Print):   2041-3238
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