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Foreign Direct Investment and Economic Growth: Co-Integration and Casualty Analysis of Nigeria

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Author Info

  • Henry Okodua

    ()
    (Covenant University)

Abstract

The FDI-growth nexus in developing countries has been of tremendous interest to a number of researchers. The inconclusive debate on the relationship between foreign direct investment (FDI) and economic growth has continued to inspire this interest. In Nigeria, the sustainability of the FDI-growth relationship is of utmost concern in the development discuss. This study employs the Johansen cointegration framework and the vector error correction technique to shed more light on the problem. The empirical results show that a long-run equilibrium relationship exists between economic growth and FDI inflows. The study also revealed a unidirectional causality from FDI to economic growth.

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Bibliographic Info

Article provided by Africagrowth Institute in its journal African Finance Journal.

Volume (Year): 11 (2009)
Issue (Month): 1 ()
Pages: 54-73

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Handle: RePEc:afj:journl:v:11:y:2009:i:1:p:54-73

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Related research

Keywords: FDI; Economic Growth; Johansen Cointegration Framework; Vector Error Correction; Casuality;

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Cited by:
  1. Kolawole Olayiwola & Henry Okodua, 2013. "Foreign Direct Investment, Non-Oil Exports, and Economic Growth in Nigeria: A Causality Analysis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(11), pages 1479-1496, November.

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