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Foreign Direct Investment and the Nigerian Financial Sector Growth  [cached]
Oke, Micheal Ojo
Asian Economic and Financial Review , 2012,
Abstract: Foreign Direct Investment (FDI) stimulates financial sector growth through the presence of foreign participation in investment in the nation. This paper explores the relationship between foreign direct investment and financial sector growth, providing empirical evidence from Nigeria. Annual time-series data were gathered on foreign direct investment, market capitalization, Gross Domestic Product, External Debt, Inflation rate, Exchange Rate and Degree of openness (ratio of imports and exports to gross domestic product) from 1981-2010. The empirical model was analyzed using the econometric techniques of ordinary least square method, unit root test, co-integration test, Error correction Mechanism, and Granger causality test. The findings suggest that the inflow of FDI has a positive impact on the Financial Sector in the short run but fail to translate to real long financial sector growth that could promote speedy economic growth due to the fact that the bulk of foreign direct investment has been channeled to other sectors of the economy namely the Oil and Gas Sector. The study recommends that government should encourage and formulate policies that will increase the volume and magnitude of Foreign Direct Investment into the Financial Sector as well as implement policies that attract foreign participation in domestic economy and create good and conducive investment climate that assures that foreign businesses thrive, among others.
Determinants of Foreign Direct Investment in the Nigerian Telecommunication Sector  [PDF]
Omosola Arawomo, J. F. Apanisile
Modern Economy (ME) , 2018, DOI: 10.4236/me.2018.95058
Abstract: This paper investigated the key determinants of FDI in the Nigerian telecommunication sector. The study made use of data from 1986 to 2014. Annual data on infrastructure, government expenditure, trade openness and market size, were sourced from the World Development Indicators (WDI) of the World Bank. FDI flow into telecommunication sector, foreign exchange rate, interest rate and inflation, were sourced from Central Bank of Nigeria Statistical Bulletin. Data were analyzed using graphs, t-test and Autoregressive Distributed Lag (ARDL). The results showed that the key determinants of FDI in the sector are market size and trade openness (t = 5.75 to 9.05; p < 0.05) on positive side, as well as Inflation and real interest rate (t = -0.05 to -4.03; p < 0.05) on negative side. The study therefore concludes that the key determinants of FDI flow into the Nigerian telecommunication sector are market size, trade openness, government expenditure, inflation and interest rate.
IMPACT OF THE FOREIGN DIRECT INVESTMENT FROM THE MANUFACTURING SECTOR ON THE ROMANIAN IMPORTS OF INTERMEDIATE GOODS AND OF RAW MATERIALS
RAMONA DUMITRIU,R?ZVAN ?TEF?NESCU,COSTEL NISTOR
Annals of the University of Petrosani : Economics , 2010,
Abstract: Increasing exports by stimulating the foreign direct investment could be a solution to the problem of the persistent trade balance deficit of Romania. However, in such an attempt there have to be taken into consideration the potential effects of the foreign direct investment on some categories of imports. This paper explores the dynamic relation between the foreign direct investment from the manufacturing sector and the Romanian imports of intermediate goods and raw materials. We found causality linkages between the foreign direct investment and the imports of intermediate goods, meaning that Romanian branches of the multinational companies prefer to import such goods instead of producing or buying from the domestic markets. Instead, we failed to identify any causality between the foreign direct investment and the imports of raw materials.
Regional Determinants of Foreign Direct Investment in Manufacturing Industry  [cached]
Kelly Liu,Kevin Daly,Maria Estela Varua
International Journal of Economics and Finance , 2012, DOI: 10.5539/ijef.v4n12p178
Abstract: Since China opened its economy to foreign investment in 1979, it has become the second largest Foreign Direct Investment (FDI) destination in the world after the USA. Over the past three decades, the manufacturing sector has dominated China’s FDI inflow, however, when manufacturing activity is bifurcated into low and high technology classes, it becomes evident that China is in a transition stage, moving from FDI in traditional low-tech manufacturing activity to a high-tech manufacturing environment. This paper attempts to analyse the key determinants of FDI inflow across low and high technology manufacturing industry across the four geographical regions of China. In the paper we empirically investigate the determinants of FDI inflows to both high and low-tech manufacturing industries by market size, labor cost, labor quality, and government spending on human capita.
Impact of Foreign Direct Investment on Croatian Manufacturing Exports  [PDF]
Goran Vuk?i?
Financial Theory and Practice , 2005,
Abstract: The exports of Croatian manufacturing industry have been stagnating over the last decade or so. Over the same period there have been relatively high inflows of foreign direct investment (FDI) into industry. The aim of this paper is to examine, after controlling for other potentially significant variables, whether these inflows have had an impact on export performance. Using the panel data approach for 21 manufacturing industry sectors over the period between 1996 and 2002, it is found that FDI has positively and significantly affected exports, but the extent of this impact was relatively low. This implies that there is a potential for improving the export performance of Croatian manufacturing industry by attracting more FDI into this sector. Policy makers should try to enhance the potential positive effects of FDI by targeting specific export-oriented greenfield foreign investment, and, in addition, implement measures to increase potential spillover effects.
Foreign Direct Investment and the Nigerian Economy
American Journal of Economics , 2012, DOI: 10.5923/j.economics.20120203.02
Abstract: Most economic rationale for granting special incentives for attracting Foreign Direct Investment (FDI) is based on the belief that FDI bridges the ‘idea gaps’ between rich and the poor nations in addition to the generation of technological transfers and spillovers. The study examines the applicability of FDI and the Impact they makes to the Nigerian economy hypothesis using empirical evidence from Nigeria were used. Empirical literature however finds controversial, the effects of FDI on productivity. In some literatures, it was revealed that multinational corporations are highly adaptive social agents and therefore, the degree to which they can help in improving economic activities through FDI will be heavily influenced by the policy choice of the host country. Data were collected for the period of more than 30 years. For analyzing the data both econometric and statistical method were applied. In order to evaluate the relationship between FDI and major economic indicators such as GDP, IIP and GFCF ordinary least square was used. The model revealed a positive relationship between FDI and those variables but FDI has not contribute much to the growth and development of the Nigerian economy and was evidence due to repatriation of profits, contract fees, and interest payment on foreign loans. The study therefore recommends human capacity building, infrastructural facilities and strategic policies to attract FDI inflow.
Foreign Direct Investment in China Manufacturing Industry –Transformation from a Low Tech to High Tech Manufacturing  [cached]
Kelly Liu,Kevin Daly
International Journal of Business and Management , 2011, DOI: 10.5539/ijbm.v6n7p15
Abstract: Since China opened its economy to foreign investment in 1979, it has become the second largest Foreign Direct Investment (FDI) destination in the world after USA. Over the period 1997 to 2008, the manufacturing sector has dominated China’s FDI inflow, however, when manufacturing activity is bifurcated into low and high technology classes, it becomes evident that China is in a transition stage moving from FDI in traditional low-tech activity to a high-tech manufacturing environment. This paper attempts to summarise and explain the key determinants of FDI inflow across low and high technology manufacturing industry across three geographical regions of China. In the paper we empirically investigate the determinants of FDI high-low tech inflow by market size, labour cost, labour quality, and infrastructure. We also investigate the theoretical foundations for China’s transition from a low tech to a high tech manufacturing environment.
Foreign Direct Investment and its Effects on the Nigerian Economy  [PDF]
Omankhanlen Alex Ehimare
Business Intelligence Journal , 2011,
Abstract: This research study deals with the effect of Foreign Direct Investment on the Nigerian economy over the period 1980-2009.It helped examined empirically if the following growth determining variables in the economy-Balance on current account (Balance of payment), Inflation and Exchange rate have any effect on Foreign Direct Investment. Also if Foreign Direct Investment have any effect on Gross Domestic Product (GDP). Econometric models was developed to investigate the relationships between the aforementioned variables and foreign direct investment. Based on the data analysis it was discovered that foreign direct investments have positive and significant impact on current account balance in Balance of payment. While inflation was seen not to have significant impact on foreign direct investment inflows. The exchange rate has positive effect on foreign direct investment. Therefore it is recommended that for Nigeria to attract the desired level of FDI, it must introduce sound economic policies and make the country investor friendly. There must be political stability, sound economic management and well developed infrastructure.
Foreign Direct Investment and Manufacturing Growth: The Malaysian Experience  [cached]
V G R Chandran,Gopi Krishnan
International Business Research , 2009, DOI: 10.5539/ibr.v1n3p83
Abstract: This paper examines the short and long run dynamics of Foreign Direct Investment (FDI) over the manufacturing growth in a developing country – Malaysia for the period of 1970-2003. Due to the small sample size, we used a fairly new cointegration method known as "bounds test" and the autoregressive distributed lag (ARDL) approach to estimate the short and long run production elasticity of FDI. Estimated FDI elasticity in the short and long run were found to be statistically significant. In the long run, a 1% increase in FDI contributes to 0.115% increase in manufacturing value added output in Malaysia. The model extracts the influence of FDI and technological progress towards manufacturing output. As a consequence of the results, strategies to enhance the competitiveness of Malaysian manufacturing sectors in the world of intense competition for FDI especially among the Asian economies like China and other ASEAN members is further recommended.
Foreign Direct Investment in Indian Retail Sector – An Analysis
Dr. Usha N. Patil
Indian Streams Research Journal , 2012,
Abstract: The Government of India was initially very apprehensive of the introduction of the Foreign Direct Investment in the Retail Sector in India. The unorganized retail sector as has been mentioned earlier occupies 98% of the retail sector and the rest 2% is contributed by the organized sector. Hence one reason why the government feared the surge of the Foreign Direct Investments in India was the displacement of labour.The unorganized retail sector contributes about 14% to the GDP and absorbs about 7% of our labour force. Hence the issue of displacement of labour consequent to FDI is of primal importance.
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