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Abstract
The inflow of foreign direct investment (FDI) to developing countries has continued to be on the increase over the years. This study investigates the effects of FDI on economic growth in Nigeria between 1981 and 2016. Structural macroeconometric models consisting of 4 blocks made up of aggregate production, aggregate demand and policy management, monetary and prices and external sector blocks were developed for the purpose of the study. The models have 19 simultaneous equations and 45 variables to capture the required proxies. Three-stage least squares (3SLS) technique was adopted to estimate the macroeconometric system of 19 simultaneous equations to capture the disaggregated effect of FDI on the different sectors of the economy as well as the inter-linkages amongst the sectors in order to give better insight into the variations inherent therein. FDI has positive sectoral effect on output of the productive sectors like agriculture, wholesale and retail services, industries, building and construction and gross fixed capital formation according to the findings of the study. Specifically, the simulation experiment considered four policy scenarios: the implications of 10%, 15%, 20% and 25% increases in the flow of FDI into the Nigerian economy. The simulation experiment on aggregate basis confirms FDI to be a great tool in growing the Nigerian economy. For example except for industry, building and construction the effect of FDI on these sectors is positive and significant. In addition, the aggregate demand and policy management block, except for government final consumption expenditure and private consumption expenditure, the performance of FDI is positive and significant. Again, considering the monetary and prices block, FDI has positive and significant effects on all the variables in the block. External sector block also showed similar results, suggesting that FDI has positive and significant effects on exports, exports of oil and gas and gross domestic product, while the effect on imports is negative, which is in accordance with a priori expectation. The finding shows that FDI has a significant effect on both sectoral and aggregate output of the economy but that the growth effects of FDI differ across sectors. The major recommendation of the study is that government should provide enabling environment in such a way that the flow of FDI would be geared towards financing capital projects such as road networks, railway lines, construction of new power plants and as a matter of urgency provide favourable policy in the area of exchange rate volatility, insecurity and corruption for easy inflow of FDI to the aggregate production sector specifically encouraging agricultural value chain and solid mineral development. This is because the country possesses highest comparative advantage in this
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SIMILAR ECONOMICS FINAL YEAR PROJECT RESEARCH TOPICS
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1. cashless policy
» INTRODUCTION 1.1 Background to the Study The recent evolution of technology for financial transactions poses interesting questions for policy makers a...Continue Reading »Item Type & Format: Project Material - Ms Word | 103 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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2. PRIVATIZATION OF PUBLIC ENTERPRISES AND ITS IMPLICATION ON ECONOMIC POLICY AND DEVELOPMENT OF NIGERIA(Nigeria power sector as a case study)
» CHAPTER ONE INTRODUCTION 1.1 INTRODUCTION/ BACKGROUND TO THE STUDY The Nigerian political economy is bereft with abject lack of policy focus, developm...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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3. FOREIGN AID AND IT IMPACT ON SOCIO ECONOMIC DEVELOPMENT IN NIGERIA’S FOURTH REPUBLIC
» CHAPTER ONE INTRODUCTION 1.1 Background of the study Developing countries are characterized by resource starved economies, specifically capital relate...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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4. THE IMPACT OF FISCAL DEFICIT ON ECONOMIC PERFORMANCE IN DEVELOPING COUNTRIES, A CASE STUDY ON NIGERIA
» CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY One of the most important aspects of fiscal policy is the management of fiscal deficit, such fiscal d...Continue Reading »Item Type & Format: Project Material - Ms Word | 54 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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5. IMPACT OF PUBLIC PROCUREMENT POLICY IN ACHIEVING VALUE FOR MONEY (A CASE STUDY OF MINISTRY OF TRANSPORT EBONYI STATE)
» CHAPTER ONE 1.1 GENERAL DESCRIPTION OF THE STUDY Government all over the world has a common purpose which is to care for its citizens. This purpose ha...Continue Reading »Item Type & Format: Project Material - Ms Word | 60 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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6. TESTING THE APPLICABILITY OF WAGNER’S LAW IN NIGERIA’S ECONOMY (1981-2013)
» ABSTRACT Wagner’s Law suggests that as the economic activity of a country increases, so does its government expenditure. This study tests Wagner...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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7. A CRITICAL ANALYSIS OF REVENUE AND EXPENDITURE OF LOCAL GOVERNMENT ADMINISTRATION IN NIGERIA (CASE STUDY OF MBANABO NORTH LOCAL GOVERNMENT
» CHAPTER ONE 1.1 BACKGROUND OF THE STUDY Local government is the third tier of government in Nigeria. The Local government system was entrenched in the...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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8. THE IMPACT OF PRODUCT DIFFERENTIATION STRATEGY ON SALES PERFORMANCE OF COMMUNICATION FIRM. ( A CASE STUDY OF GLO NIG. LTD)
» ABSTRACT The purpose of this study is to highlight the strategy on how different product enhance sales performance in communication industries especia...Continue Reading »Item Type & Format: Project Material - Ms Word | 54 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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9. EFFECT OF SMALL-SCALE INDUSTRIES ON THE NIGERIA ECONOMY
» CHAPTER ONE INTRODUCTION 1.1 Background of the study Small business enterprises in Nigeria were characterized as essentially backward and cog in the w...Continue Reading »Item Type & Format: Project Material - Ms Word | 63 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
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10. THE NEED FOR THE DEVELOPMENT OF ENTREPRENEURSHIP IN A DEPRESSED ECONOMY (A CASE STUDY OF NIGERIAN ASSOCIATION OF SMALL-SCALE INDUSTRIALISTS (NASSI) ...
» CHAPTER ONE 1.1 INTRODUCTOPN BACKGROUND OF THE STUDY The need to incorporate in our system the need to be technologically self reliant cannot be over ...Continue Reading »Item Type & Format: Project Material - Ms Word | 72 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT