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Capital Inflows and Economic Growth in Nigeria: The Role of Macroeconomic Policies
Author(s) -
Nwosa Philip Ifeakachukwu,
Akinbobola Temidayo Oladiran
Publication year - 2016
Publication title -
african development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.654
H-Index - 32
eISSN - 1467-8268
pISSN - 1017-6772
DOI - 10.1111/1467-8268.12205
Subject(s) - distributed lag , economics , monetary economics , proxy (statistics) , foreign direct investment , macroeconomics , foreign capital , fiscal policy , capital (architecture) , monetary policy , international economics , econometrics , history , archaeology , machine learning , computer science
This study examined the role of macroeconomic policies (monetary, fiscal and trade policies) in the relationship between capital inflows (proxy by foreign direct investment, foreign aid and international workers’ remittances) and economic growth in Nigeria for the period 1970 to 2013. The study employed Autoregressive Distributed Lag (ARDL) Bound co‐integration technique. The study found that macroeconomic policy plays a fundamental role in the relationship between capital inflows and economic growth in Nigeria.