scholarly journals External Sector Aggregates and Economic Growth in Nigeria

2018 ◽  
pp. 33-42
Author(s):  
Akidi, Victor ◽  
Tubotamuno, Boma ◽  
Obayori, Joseph Bidemi
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Direct Investment ◽  
Time Series Data ◽  
Unit Root Test ◽  
Series Data ◽  
Correction Technique ◽  
Integration Test ◽  
External Sector

This paper empirically examined the effects of selected external sector aggregates on economic growth in Nigeria from 1981 to 2016. Time series data on Real Gross Domestic Product as proxy for economic growth, and on Imports, Exports, Exchange Rate and Foreign Direct Investment were collected from secondary sources. The data sets were analyzed using descriptive statistics, unit root test, co-integration test and error correction technique of model estimation. The result of the analysis revealed that Imports, Exchange Rate and Foreign Direct Investment negatively related with economic growth while Exports positively related with economic growth in Nigeria within the reviewed period. Also, except Exchange Rate all the other explanatory variables – Imports, Exports and Foreign Direct Investment did not impact significantly on economic growth in Nigeria within the period of study. Based on these findings, the study recommends that government should encourage export diversification, especially the non-oil sector exports. This can be achieved through value addition in both the agriculture and manufacturing sub-sectors output.

Trade Openness, Foreign Direct Investment and Economic Growth: Empirical Evidence from India

2016 ◽  
Vol 6 (2) ◽  
Author(s):  
Brajaballav Pal
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Time Series Data ◽  
Trade Openness ◽  
Unit Root Test ◽  
Series Data ◽  
Long Run ◽  
Integration Test ◽  
The Government

This paper examines the relationship among GDP, foreign direct investment and trade openness for India using time series data from 2001 to 2016. In this study unit root test is used to solve the problem of stationery and to determine the order of integration between the variables. Johnson co-integration test suggests that there is a long run equilibrium relationship among the variables by considering relationship between Gross Domestic Product (GDP), Foreign Direct Investment (FDI) and Trade Openness (TO). The result indicates that trade openness exerts influence on foreign direct investment. The government and policy makers should take up strategies to attract foreign investment so as to promote economic growth.

Impact of Globalization on Economic Growth in Vietnam: An Empirical Analysis

2018 ◽  
pp. 32-47 ◽  
Author(s):  
Dat Tho Tran ◽  
Van Thi Cam Nguyen
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Empirical Analysis ◽  
Direct Investment ◽  
Time Series Data ◽  
Series Data ◽  
Balance Of Trade ◽  
The Impact

This study aims at investigating the impact of globalization on economic growth in the case of Vietnam. Empirical analysis is done by using time series data for the period from 1995 to 2014. The paper tested the stationary cointegration of time series data and utilized the error correction modeling technique to determine the short run relationships among economic growth, globalization, foreign direct investment, balance of trade and exchange rate variables. Then, the long run relationship between economic growth and the variables representing economic integration were estimated by ordinary least square. The results show that globalization, measured by the KOF index, promotes economic growth and Vietnam has gained from integrating into the global economy. The overall index of globalization had positively and significantly impacted the economic growth in Vietnam. The results also indicated that economic globalization had a significantly positive effect on economic growth in the period examined. The study further revealed that foreign direct investment and the exchange rate affect economic growth positively whereas balance of trade affects economic growth negatively.

scholarly journals Foreign Direct Investment as an Important Source of External Development Financing: New Evidence in Turkey

2019 ◽  
Author(s):  
Mohamed Isse Ibrahim
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Labor Force ◽  
Significant Relationship ◽  
Direct Investment ◽  
Time Series Data ◽  
External Source ◽  
Series Data ◽  
New Evidence

Foreign direct investment is a critical source of external instruments for financing development for Turkey, FDI can contribute to technology diffusion, Economic growth, Employment generation and Sustainable development. However; the Objective of this research is to examine whether foreign direct investment as an external source of financing effects economic growth in Turkey, based on time series data from 2003 to 2016 during the Erdoğan administration. This study employed Harrod-domar growth model using under OLS method. The paper considerate main variables foreign direct investment, Exchange rate and labor force. Based on empirically investigated the study confirmed that foreign direct investment and Labor force has a positive significant relationship to economic growth in Turkey while exchange rate has a negative significant relationship to economic growth in Turkey. So this paper recommends that movement of Turkey should promote policies encourage and creation of a good microeconomic and macroeconomic a friendly environment and utilization of the careful of loose monetary policy to economic performance.

scholarly journals ANALISIS PENGARUH VARIABEL MAKRO EKONOMI TERHADAP INVESTASI ASING LANGSUNG (STUDY KASUS CHINA-INDONESIA).

2017 ◽  
Vol 6 (2) ◽  
pp. 103
Author(s):  
Ririn Martini Rezki ◽  
Yeniwati Yeniwati ◽  
Mike Triani
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Interest Rates ◽  
Direct Investment ◽  
Time Series Data ◽  
Least Square ◽  
Series Data ◽  
Short Term

This research to analyze the influence of macro economic variables impact on Chinese Foreign Direct Investment in Indonesia. The influence of China’s economic growth, Indonesia’s economic growth, interest rates, inflation and exchange rates against Foreign Direct Investment (FDI) China in Indonesia in the long term and short term. Type of this research is descriptive research, the secondary data use form time series data, from 2001Q1 – 2016Q4, taken  from agencies and related institution, the analysis using the Ordinary Least Square (OLS) and Error Correction Model (ECM) to see the influence in a long term and impact in the short term. This research show that Indonesia’s economic growth of China’s economic growth and inflation is have a significant effect in the long term Chinas’s FDI in Indonesia. Variable economic growth of Indonesia’s, interest rates, inflation, exchange rate in the short term influence China’s Foreign Direct Investment in Indonesia. How ever in the long term interest rates and exchange rate do not influence significantly, to China’s FDI in Indonesia.

Impact of Trade Openness, FDI, Exchange Rate and Inflation on Economic Growth: A Case Study of Pakistan

2014 ◽  
Vol 1 (1) ◽  
pp. 236 ◽  
Author(s):  
Sadia Bibi ◽  
Syed Tauqeer Ahmad ◽  
Hina Rashid
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Direct Investment ◽  
Time Series Data ◽  
Negative Impact ◽  
Trade Openness ◽  
Least Square ◽  
Series Data ◽  
Trade Surplus

This study focuses on empirical analysis to find out the role of trade openness, inflation, imports, exports, real exchange rate and foreign direct investment in enhancing economic growth in Pakistan. The analysis based on time series data for the period 1980 to 2011. This paper uses ADF; PP and DF-GLS tests to find out stationarity of the variables and Co-integration and DOLS (Dynamic Ordinary Least Square) techniques have been used for the estimation. Co integration results indicated the long run relationship among the variables. However, negative impact of trade openness can be overcome by producing import substitutes and creating conditions for trade surplus. Furthermore, foreign direct investment and trade are considered vital elements that improve the influence of economic growth.  

scholarly journals Does Foreign Direct Investment and Trade Promote Economic Growth? Evidence from Albania

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 1
Author(s):  
Sam Hobbs ◽  
Dimitrios Paparas ◽  
Mostafa E. AboElsoud
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Granger Causality ◽  
Unit Root ◽  
Direct Investment ◽  
Time Series Data ◽  
Unit Root Test ◽  
Global Market ◽  
Cointegration Analysis ◽  
Series Data

Albania has experienced a rapid transition from a centrally planned economy to a mixed economy since the fall of communism in 1989. Policy changes, trade liberalization, and privatization have come about at a rapid pace, allowing foreign direct investment (FDI) and international trade to become key components of Albania’s economy. Against this backdrop, this study investigates the relationships among FDI, trade, and economic growth in Albania. Annual time-series data were obtained from the World Bank. Then, the following econometric tests were performed on the variables representing FDI inflows, exports, and GDP as proxies for FDI, trade, and economic growth: the unit root test; the unit root test with a structural break; Johansen cointegration analysis; the error correction model; and the Granger causality test. The results revealed a long-term relationship between FDI, trade, and economic growth. The Granger causality tests found unidirectional causality. Economic growth brought about exports and FDI in the short term but not vice versa. In conclusion, policymakers need to design policies that promote technology-based, export-promoting FDI to meet the needs of the economy and develop specialized sectors that are competitive in the global market. Furthermore, the salient takeaway is that the penetration of export markets should be promoted as much as the furtherance of FDI.

scholarly journals Taxation, exchange rate and foreign direct investment in Nigeria

2019 ◽  
Vol 14 (3) ◽  
pp. 76-85 ◽  
Author(s):  
Olubukola Ranti Uwuigbe ◽  
Ayomide Omoyiola ◽  
Uwalomwa Uwuigbe ◽  
Nassar Lanre ◽  
Opeyemi Ajetunmobi
Keyword(s):  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Direct Investment ◽  
Time Series Data ◽  
Negative Relationship ◽  
Unit Root Test ◽  
Ordinary Least Squares ◽  
Series Data ◽  
Corporate Tax ◽  
Integration Model

This paper investigates factors that may impact foreign direct investment in Nigeria. It seeks to establish the role of taxation (corporate tax) for foreign direct investment in Nigeria. Annual time series data derived from the Central Bank of Nigeria statistical bulletin and the United Nations Conference on Trade and Development covering a period of 31 years (1985–2015) were used for this study. The variables considered in the study include FDI, corporate tax, exchange rate, inflation rate, real gross domestic product (RGDP). They were analyzed using Ordinary Least Squares (OLS), Johansen Co-Integration model and Unit Root Test. Findings from this research observed that a negative relationship exists between corporate taxation and FDI. Also, the study observed that corporate tax have a significant impact on FDI and there exists a long-run relationship between the two variables.

scholarly journals ANALISIS PENGARUH REMITANSI, INVESTASI ASING LANGSUNG, IMPOR DAN PERTUMBUHAN EKONOMI DI INDONESIA

2020 ◽  
Vol 2 (4) ◽  
Author(s):  
Regina Septriani Putri ◽  
Ariusni Ariusni
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Time Series Data ◽  
Positive Impact ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
The Government ◽  
Positive Effect

Abstract : This study examined and analysis the effect of remittances, foreigndirect investment, imports, and economic growth in Indonesia in the long run andshort run. This study using Error Correction Model (ECM) method and using theannual time series data from 1989 to 2018. This study found that: (1) remittancehave an insignificant positive effect on economic growth in the long run and shortrun,(2)foreign direct investment have a significant positive impact on economicgrowth in the long run and short run, (3) import have an insignificant positiveimpact on economic growth both in the long run and short run. To increase theeconomic growth in the future, this study suggests the government to decresingimports of consume goods and increasing the inflow of capital goods, rawmaterial goods, remittances and foreign direct investment.Keyword : Remittance, Foreign Direct Investment, Import, Economic Growth andECM

scholarly journals COINTEGRATING RELATION BETWEEN EXCHANGE RATE AND GOLD PRICE

2017 ◽  
Vol 5 (10) ◽  
pp. 263-269
Author(s):  
Ranjusha ◽  
Devasia ◽  
Nandakumar
Keyword(s):  
Exchange Rate ◽  
Time Series Data ◽  
Unit Root Test ◽  
Gold Price ◽  
Series Data ◽  
Annual Data ◽  
Causality Test ◽  
Long Run ◽  
Integration Test ◽  
The Relationship

The very purpose of this paper is to analyse the relationship between gold price and Rupee – Dollar exchange rate in India. The study utilises the annual data of exchange Rate (ER) and Gold Price (GP) from 1970 to 2015 to determine the relationship. Different econometric tools like Unit root test, Johansen co integration test, Vector error correction model, Granger causality test are used for detecting the long run relation, if any between the mentioned variables. The result shows that there exists a long run cointegrating relation between the variables. That is we can stabilise the Gold Price movement by controlling the exchange rate fluctuations. Likewise it also shows that Exchange rate doesn’t Granger cause to Gold price and vice versa. It means that the time series data of one vasriable cannot be used to predict another.

scholarly journals Globalization and Agricultural Sector Output in Nigeria

2020 ◽  
Author(s):  
Olusegun Akinwale Samson ◽  
Oluwabusayo Temitope Obagunwa
Keyword(s):  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Direct Investment ◽  
Agricultural Sector ◽  
Raw Materials ◽  
Trade Openness ◽  
Series Data ◽  
Portfolio Investment ◽  
Foreign Portfolio Investment ◽  
Integration Test

This study examined the effect of globalization on agricultural sector development in Nigeria. The study employed annual time series data from Central Bank of Nigeria Statistical Bulletin between 1986 and 2018 which were analyzed with Autoregressive Distributed Lag technique. The result of the Bound co-integration test indicated that there is long run relationship among agricultural sector output, foreign direct investment, foreign portfolio investment as a percentage of gross domestic product, trade openness and exchange rate. The result of the ARDL revealed that trade openness, foreign portfolio investment and exchange rate stimulate agricultural sector output while foreign direct investment negatively influence agricultural sector output in Nigeria. It was concluded that globalization plays important role in the development and enhancement of agricultural sector output in Nigeria through openness and financial inflow to the sector. Thus, government should formulate policy frameworks that will enhance the trade relationship between the agricultural sector and other developed nations to facilitate the inflow of important raw materials for the sector’s productivity, government should formulate policies that will ease direct investment inflow into the agricultural sector by creating linkage between foreign multi-national companies and agricultural sector in Nigeria. Finally, it was recommended that exchange rate stability should be prioritized by the government and more foreign exchange subsidy should be given to the agricultural sector to facilitate the of importation of raw materials.

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