scholarly journals THE ROLE OF TAX REVENUE AND FOREIGN DIRECT INVESTMENT IN PROMOTING ECONOMIC PROGRESS IN NIGERIA

10.26458/1932 ◽  
2019 ◽  
Vol 19 (3) ◽  
pp. 33-54
Author(s):  
Fineboy Ikechi JOSEPH ◽  
Cordelia Onyinyechi OMODERO ◽  
Manasseh Obioma OMEONU
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Positive Relationship ◽  
Domestic Product ◽  
Tax Revenue ◽  
P Value ◽  
Regression Result ◽  
The Impact

AbstractThe study examined the impact of tax revenue on economic growth of Nigeria proxied as gross domestic product (GDP) from 2000-2017). The study employed Exploratory and ex-post facto designs and secondary data sourced from Federal Inland Revenue Services (FIRS), UNCTAD, FDI/MNE database, World Bank Report, United Nations Development Programme (UNDP) reports, CBN statistical bulletin were used. Ordinary Least Squares (OLS) regression technique was adopted to test the hypotheses of the study. The result reveals that tax revenue has significant impact on GDP in Nigeria with R-squared showing that about 87% variations in GDP can be attributed to tax revenue, while the remaining 23% variations in GDP are caused by other factors not included in this model. This is further emphasized by the T-statistic p-value of 0.001 which shows that the regression result is statistically significant because it is less than 5%, level of significance adopted for this study. The result from regression analysis also revealed that there is positive relationship between foreign direct investment and Gross Domestic Product, with a p- value of + 0.000, + 0.001 < 0.05% significance level. The study concluded that tax revenue has a significant impact on GDP in Nigeria. Also there is a positive relationship between FDI and economic growth in Nigeria; therefore the more FDI increases the more economic growth. The study recommended that functional tax structures that would ensure that tax is collected from all taxable individuals, group of individuals and corporate bodies and remitted accordingly to the government without diversion should be instituted to widen the revenue base of the country. Government should liberalize the Nigerian economy the more by removing all barriers to trade such as arbitrary tariffs, import and export duties and other levies to encourage foreign investors.

scholarly journals Effects of Foreign Direct Investment on Growth in Turkey

2010 ◽  
Author(s):  
Melike Bildirici ◽  
Elçin Aykaç Alp ◽  
Fazıl Kayıkçı
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Positive Relationship ◽  
Domestic Product ◽  
Market Size ◽  
Threshold Cointegration ◽  
Starting Point ◽  
The Impact

This study aims at analyzing the relationship between Foreign Direct Investment and Growth in Turkey by using Threshold Cointegration. As the studies about the impact of Foreign Direct Investment on growth are surveyed, it is seen that all of them uses liner methods except two. Starting point of these studies that use liner methods are the positive relationship between Growth and Foreign Direct Investment. As such, Yılmaz and Barbaros (2006) find positive relationship between Foreign Direct Investment and market size in Turkey between 1980 and 2001. Erdal and Tatoğlu (2002) reach the same conclusion for the period of 1980-1998 by using real Gross Domestic Product as a proxy for market size. Deichmann, Karidis and Sayek (2003) find positive linkage between Foreign Direct Investment and Gross Domestic Product in Turkey by using Conditional Logit Model. Bildirici and Bozoklu (2008) find positive relationship between growth and Foreign Direct Investment by using Markov Switching Vector Auto Regression method. Katırcıoğlu (2009) analyses the connection between Foreign Direct Investment and economic development by using Auto Regressive Distributed Lag and indicates that economic development causes net Foreign Direct Investment. Darrat and Sarkar (2009) state the affirmative effects of the Foreign Direct Investment on growth as expected theoretically. Bildirici, Bozoklu (2008) find positive relationship between growth and Foreign Direct Investment in Turkey. Bildirici, Alp and Kayıkçı (2010) state the existence of threshold effect for these variables. This study intends to research this effect in historical perspective, using Threshold Cointegration Analysis.

ANALISIS DETERMINAN KUALITAS LINGKUNGAN PERIODE 1999-2013

2016 ◽  
Vol 21 (1) ◽  
pp. 9-20
Author(s):  
Ersalina Tang
Keyword(s):  
Foreign Direct Investment ◽  
Energy Consumption ◽  
Gross Domestic Product ◽  
Co2 Emissions ◽  
Direct Investment ◽  
Meat Consumption ◽  
Domestic Product ◽  
World Data ◽  
The World ◽  
The Impact

The purpose of this study is to analyze the impact of Foreign Direct Investment, Gross Domestic Product, Energy Consumption, Electric Consumption, and Meat Consumption on CO2 emissions of 41 countries in the world using panel data from 1999 to 2013. After analyzing 41 countries in the world data, furthermore 17 countries in Asia was analyzed with the same period. This study utilized quantitative approach with Ordinary Least Square (OLS) regression method. The results of 41 countries in the world data indicates that Foreign Direct Investment, Gross Domestic Product, Energy Consumption, and Meat Consumption significantlyaffect Environmental Qualities which measured by CO2 emissions. Whilst the results of 17 countries in Asia data implies that Foreign Direct Investment, Energy Consumption, and Electric Consumption significantlyaffect Environmental Qualities. However, Gross Domestic Product and Meat Consumption does not affect Environmental Qualities.

The Causal Links Between Foreign Direct Investment And Economic Growth In Pakistan

2012 ◽  
Vol 6 ◽  
Author(s):  
Najid Ahmad ◽  
Muhammad Farhat Hayat ◽  
Muhammad Luqman ◽  
Shafqat Ullah
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Domestic Product ◽  
Correction Model ◽  
Economic Progress ◽  
Long Run ◽  
Domestic Capital ◽  
The Relationship

This paper investigates the relationship between foreign direct investment and economic growth in Pakistan. The co-integration and error correction model is used to show the relationship between foreign direct investment and gross domestic product in Pakistan. Gross domestic product is taken as dependent variable while foreign direct investment, labor force and domestic capital as independent variables. The results suggest that there is a positive relation between foreign direct investment and gross domestic product in short as well as long run. If we want to make economic progress then there is a need to invite foreign investors because foreign direct investment increases GDP that is economic growth.

scholarly journals Foreign Direct Investment (FDI), Trade and Its Contribution to the Mining Sector of Guinea

2016 ◽  
Vol 7 (2) ◽  
pp. 65
Author(s):  
Kimberly Racquel Elizabeth Chin
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Mining Industry ◽  
Domestic Product ◽  
Mining Sector ◽  
The Government ◽  
The Relationship

In order to objectively analyze Foreign Direct Investment (FDI) contribution to Guinea’s mining sector, the granger casualty test was used to determine the relationship among variables and to determine whether any of these variables affect others and how. The variables used are Gross Domestic Product, Government Income, Trade, FDI inflow into Guinea mining sector and the exchange rate. The granger casualty test produced evidence of a bidirectional casualty relationship which suggests that FDI’s influence on efficiency lies in the government relaxing its dependency on the mining industry for economic  growth.

Exploration of Relationship between FDI and GDP: A Comparison between India and Its Neighbouring Countries

2018 ◽  
Vol 21 (2) ◽  
pp. 473-489 ◽  
Author(s):  
Pooja Sengupta ◽  
Roma Puri
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Sri Lanka ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Indian Subcontinent ◽  
Domestic Product ◽  
Economic Policies ◽  
Fdi Inflows ◽  
The Difference

Foreign direct investment (FDI) inflows have been a trigger for accelerating economic growth in a number of countries. The pattern of FDI flows into India and its neighbourhood has been varied and so has been its impact on the economic growth in each of the countries. Although a lot of research has been carried out to establish causality between FDI and economic growth, the results are sometimes varied and conflicting. This study attempted to study the pattern of FDI into the Indian subcontinent and India’s neighbours, such as Pakistan, Nepal, Bangladesh and Sri Lanka, and explore the causality between FDI and gross domestic product (GDP). The results showed that the different economic policies of the respective countries had a role to play in explaining the difference in the quantum of the flow and there is an association between FDI and GDP, and in all the cases, FDI is instrumental in enhancing the economic growth of the countries included in the study.

scholarly journals Impact of Foreign Direct Investment, Foreign Portfolio Investment and Diaspora Remittances on Kenya’s Economic Growth

2021 ◽  
Vol 06 (11) ◽  
Author(s):  
Joan Serem ◽  
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Domestic Product ◽  
Portfolio Investment ◽  
Foreign Portfolio Investment ◽  
Short Run ◽  
Auto Regressive ◽  
Level Of Significance

The Objective of this study is to find out the effect of capital flows on economic growth in Kenya, With Three specific objectives; To investigate the effect of foreign direct investment on economic growth in Kenya, to find out the effect of foreign portfolio investment on economic growth in Kenya, and to determine the effect of diaspora remittances on economic growth in Kenya. Quarterly data from 2002 to 2017 was used in the study, and Descriptive research design and inferential research design were used to analysis the data. Descriptively, mean and standard deviation were used and Inferentially the Auto regressive distribution Lag technique using the STATA software Version 15. Diagnostic tests were conducted on the data; Normality test using Jarque Bera test supported by the skewness and Kurtosis results; Unit root was tested using the Augmented Dickey Fuller Test .The Auto Regressive Distributed Lag regression short run results show that, foreign direct investment had an positive and insignificant effect on gross domestic product, whereas foreign portfolio investment had a positive and statistically significant short run effect on gross domestic product at 1% level of significance and diaspora remittances had a positive and very significant effect of gross domestic product at 5% level of significance. The Error Correction Model regression results showed that in the long run, Foreign Direct Investment, Foreign Portfolio Investment, and Diaspora Remittances had a positive and very significant effect on the economic growth at 1% level of significance.

scholarly journals Export, Foreign Direct Investment and Gross Domestic Product: Case of the Commonwealth of Independent States Countries and Armenia

REGIONOLOGY ◽  
2019 ◽  
pp. 206-223
Author(s):  
Lilit N. Sargsyan
Keyword(s):  
Foreign Direct Investment ◽  
Regression Analysis ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Domestic Product ◽  
Gross Domestic Product Growth ◽  
Commonwealth Of Independent States ◽  
Independent States ◽  
The Republic ◽  
The Impact

Introduction. Export and foreign direct investment have great significance for economic development of the developing and transition countries, like Armenia and the Commonwealth of Independent States countries. As the domestic market of the Republic of Armenia is small, Armenia’s economic development depends on external demand. The aim of this article is to estimate the impact of foreign direct investment and export on gross domestic product of the Commonwealth of Independent States countries and the Republic of Armenia. Materials and Methods. For the Commonwealth of Independent States countries, regression analysis with panel data was performed using Stata V10 statistical package. For Armenia, correlation and regression analysis was performed, the results of the Granger causality test were revealed. The regression analysis employed the least squares method. Results. The performed analysis has shown that in the Commonwealth of Independent States countries the export growth of 1 % causes the gross domestic product growth of 0.92 % and the increase in foreign direct investment of 1 % causes the gross domestic product growth of 0.4 %. In the Republic of Armenia, the export growth of 1 unit causes the gross domestic product growth of 8.89 units and the increase in foreign direct investment of 1 unit causes the gross domestic product growth of 1.23 units. Discussion and Conclusion. Comparison of the obtained results with those of the similar analysis conducted earlier by the author makes it possible to state that in the Commonwealth of Independent States countries the impact of export has decreased while the impact of foreign direct investment has increased. In Armenia, the impact of both export and foreign direct investment is higher than before. The materials of this article may be useful for other researcher studying this issue, as well as for the governments of the Commonwealth of Independent States countries and the Republic of Armenia responsible for the development of the economic policy.

scholarly journals Foreign Remittances And Nigeria’s Economic Growth (1990 – 2018)

2019 ◽  
Vol 6 (9) ◽  
pp. 277-290
Author(s):  
Kelechukwu Godslove Egbulonu ◽  
Oluchi Elleen Chukuezi
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Mortality Rate ◽  
Direct Investment ◽  
Positive Relationship ◽  
Infant Mortality Rate ◽  
Causality Relationship ◽  
The Impact ◽  
Adf Test ◽  
Expenditure Pattern

Between 2010 and 2017, remittances inflows  averaged a whopping 20 billon US Dollars per annum, more than double the foreign direct investment [FDI] figures for the period under review and more than 500 per cent of Nigeria commercial service exports. The figures could be comparatively intimidating when remittances inflows from unapproved and informal sources are taken into account. To this end it becomes imperative to consider the impact these remittances have had so far on the Nigerian economy both at the micro and macro levels. The ADF test was used to test for stationarity. The variables were all found to be integrated at 1st difference so we used the OLS technique to analyze our data. Results show a positive relationship between foreign remittances and economic growth. Also a strong two-way relationship was established between foreign remittances and foreign external reserve. Foreign remittances have come to be a major source of income for Nigerian families and households. Infant mortality rate which was included in our model as a measure of social welfare and human development was also seen to be on the decline and having no causality relationship with foreign remittances. This was rightly so because, as the study shows, the expenditure pattern of foreign receipts by households is tilted towards consumption. The study recommends the need for the country to strengthen the institutional framework required to harness the benefits of foreign remittances.

scholarly journals Financial Determinants of Economic Growth of Pakistan: An Empirical Analysis

2019 ◽  
Vol 5 (2) ◽  
Author(s):  
Zaib-un- Nisa
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Gross Domestic Product ◽  
Empirical Analysis ◽  
Direct Investment ◽  
Business Environment ◽  
Domestic Product ◽  
Series Data ◽  
Real Gross Domestic Product ◽  
Determinants Of Economic Growth

The paper attempts to investigate the relationship between savings and Economic growth of Pakistan by using the time series data from 1972 to 2015. For empirical analysis, ordinary least square method is used. The analysis is made in two parts. In the first part; descriptive statistics and correlation matrix are described. In second part, multivariate analysis explains how saving of Pakistan is determined by economic growth. This study concludes that the employed labor force, gross fixed capital formation and exchange rate have positive and significant influence on real gross domestic product. Foreign direct investment and gross domestic savings have negative but insignificant impact on real gross domestic product. Keeping in view the role of savings and economic growth in Pakistan. It is recommended that government should provide enabling environment and fiscal incentives for enhancing the foreign direct investment. This will increase the gross domestic product in the country. For this purpose, the industrial and agricultural sectors of the country must be stable. Moreover, there is a need of creating an investment friendly business environment in Pakistan.

Sign in / Sign up

Export Citation Format

Share Document