ABSTRACT
ThepurposeofthisstudyistoexaminetheeffectofsectoralForeignDirectInvestment
oneconomicgrowthinNigeriamakinguseoftimeseriesdatafortheperiod1981-2018.
AnAuto-regressiveDistributedLag(ARDL)technique(withemphasisonshortrun
estimates)isusedtoexaminetherelationshipforseriesthatareI(0)andI(1).Thestudy
considersfive FDIsectors which includes:Telecommunication infrastructures,oil,
Agriculture,Manufacturing,Services andotherinfrastructuressectorsasitsvariables
representingsectoralforeigndirectinvestmentwhileGrossDomesticProduct(GDP)is
employedasaproxyforeconomicgrowth.
ThestudyobservesnolongrunrelationshipbetweensectoralFDIandeconomicgrowth.
Hence,shortrunestimationwithoutaccountingforadjustmentmechanism isestimated.
TheresultsshowsthatTelecommunicationinfrastructuresFDI,ServicesFDIandother
infrastructures FDI are significant to economic growth. However, only
TelecommunicationinfrastructuresFDIspurseconomicgrowthwhileServicesFDIand
otherinfrastructuresFDIdrageconomicgrowthinNigeria.
Conclusively, this study recommends that government should ensure stable
macroeconomicpoliciesasastabilizationtooltoprompttheattractionofmoreFDIinto
Nigeriaanddependencyonforeigndirectinvestmentshouldremainlimited.
, A & , S (2021). EFFECTOFSECTORALFOREIGNDIRECTINVESTMENTON ECONOMICGROWTHINNIGERIA. Afribary. Retrieved from https://track.afribary.com/works/effectofsectoralforeigndirectinvestmenton-economicgrowthinnigeria
, AGADA and SundayJoh "EFFECTOFSECTORALFOREIGNDIRECTINVESTMENTON ECONOMICGROWTHINNIGERIA" Afribary. Afribary, 02 May. 2021, https://track.afribary.com/works/effectofsectoralforeigndirectinvestmenton-economicgrowthinnigeria. Accessed 20 Nov. 2024.
, AGADA, SundayJoh . "EFFECTOFSECTORALFOREIGNDIRECTINVESTMENTON ECONOMICGROWTHINNIGERIA". Afribary, Afribary, 02 May. 2021. Web. 20 Nov. 2024. < https://track.afribary.com/works/effectofsectoralforeigndirectinvestmenton-economicgrowthinnigeria >.
, AGADA and , SundayJoh . "EFFECTOFSECTORALFOREIGNDIRECTINVESTMENTON ECONOMICGROWTHINNIGERIA" Afribary (2021). Accessed November 20, 2024. https://track.afribary.com/works/effectofsectoralforeigndirectinvestmenton-economicgrowthinnigeria