IDEAS home Printed from https://ideas.repec.org/a/gvj/journl/v8y2011i2p49-72.html

Foreign And Economice Growth: Evidence From Nigeria

Author

Listed:
  • Patricia A. Adamu
  • Clement A. Ighodara

Abstract

This paper investigates the impact of foreign aid on the economic growth of Nigeria using time series data covering the period 1980 through 2009. The Error Correction Modelling (ECM) technique was utilized. The Error correction term has a conversely adjusted effect on the long-term equilibrium relationship between economic growth and foreign aid. We verified the temporal properties of the variables using the model via unit root tests, to confirm the stationarity of the variables, and the short-run and long-run relationship between the dependent and the explanatory variable were also determined. Foreign aid and exports were found to have significant and positive effects on growth in Nigeria. A vital policy implication of the result is that the government in Nigeria should solicit for foreign aid as it would accelerate the economic growth. In addition, policies geared towards export promotion would increase investment and contribute to the growth of the country.

Suggested Citation

  • Patricia A. Adamu & Clement A. Ighodara, 2011. "Foreign And Economice Growth: Evidence From Nigeria," West African Financial and Economic Review (WAFER), WEST AFRICAN INSTITUTE FOR FINANCIAL AND ECONOMIC MANAGEMENT (WAIFEM), vol. 8(2), pages 49-72, December.
    • Handle: RePEc:gvj:journl:v:8:y:2011:i:2:p:49-72
    as

    Download full text from publisher

    File URL: https://www.waifem-cbp.org/pool/vol_8/8_3_Pages_49_72.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gvj:journl:v:8:y:2011:i:2:p:49-72. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Christian Ahortor (email available below). General contact details of provider: https://edirc.repec.org/data/waifeng.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.