Authors:
OKEKE, Ijeoma chinwe, OGBONNA, Kelechukwu Stanley and OKAFOR, Chioma Nnenna, Nigeria
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Abstract:
The study examines the effect of foreign direct investment on economic growth in Nigeria. The aim of the study is to determine the impact of foreign direct investment as motivated by infrastructural expenditure on Nigerian economic growth between 1995 to 2015. The study employs Augmented Dickey Fuller Unit Root Test, Johansen Co-integration, OLS regression and Granger Causality for the study. The result of the study revealed that Foreign Direct Investment as motivated by Infrastructural Expenditure impacted economic growth significantly both in the long run and the short run. Hence, the study recommends that further expenditure should be made on infrastructural facilities to boost more investment both foreign and domestic.
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