Economists have recognized inflows of investment as one of the ways to accelerate the pace of gro... more Economists have recognized inflows of investment as one of the ways to accelerate the pace of growth in emerging economies like Nigeria. This is largely due to the benefits a country stands to gain from inflows of investment. To this end, the study examined the impact of foreign direct investment and domestic investment on economic growth in Nigeria between 1985 and 2015. A model was developed to capture the effect of foreign direct investment, domestic investment, exchange rate and inflation rate on economic growth within the sampled period. Secondary data on these variables were sourced from the CBN Statistical Bulletin and Economic Watch Publications. The model was estimated using the Ordinary Least Square technique via the multivariate regression analysis. Results revealed that foreign direct investment has not contributed significantly to economic growth in Nigeria. Furthermore, it was equally discovered that domestic investment adversely affected growth within the period. The study therefore suggested that particularly vital for investment is macroeconomic stability and consistent policies. A good macroeconomic record includes high growth, a single-digit inflation rate, low rate of interest and relative stability in the real exchange rate. It is also important to have consistent and stable policies in order to engender confidence in economic agents and assure investors that government policies are credible and predictable.
The study analyzes the impact of foreign direct investment (FDI) and domestic investment (DI) on ... more The study analyzes the impact of foreign direct investment (FDI) and domestic investment (DI) on economic growth in Sub-Saharan Africa for the period 1990-2003. The results show that DI is positive and significantly correlated with economic growth in both the OLS and fixed effects estimation, but FDI is positive and significant only in the OLS estimation. The study also found that FDI has an initial negative effect on DI and subsequent positive effect in later periods for the panel of countries studied. The sign and magnitude of the current and lagged FDI coefficients suggest a net crowding out effect. The review of the literature and findings of the study indicate that the continent needs a targeted approach to FDI, increase absorption capacity of local firms, and cooperation between government and MNE to promote their mutual benefit.
Economists have recognized inflows of investment as one of the ways to accelerate the pace of gro... more Economists have recognized inflows of investment as one of the ways to accelerate the pace of growth in emerging economies like Nigeria. This is largely due to the benefits a country stands to gain from inflows of investment. To this end, the study examined the impact of foreign direct investment and domestic investment on economic growth in Nigeria between 1985 and 2015. A model was developed to capture the effect of foreign direct investment, domestic investment, exchange rate and inflation rate on economic growth within the sampled period. Secondary data on these variables were sourced from the CBN Statistical Bulletin and Economic Watch Publications. The model was estimated using the Ordinary Least Square technique via the multivariate regression analysis. Results revealed that foreign direct investment has not contributed significantly to economic growth in Nigeria. Furthermore, it was equally discovered that domestic investment adversely affected growth within the period. The ...
Many studies have been carried out to identify the factors affecting the rental values of accommo... more Many studies have been carried out to identify the factors affecting the rental values of accommodation in Nigeria. This study built on past studies, to investigate the effect of socioeconomic factors on the rental values of accommodation in Lagos Metropolis (Lagos Mainland and Island). Precisely, the study empirically explored the influence socioeconomic factors such as income, household size, accommodation, transportation network, distance between house residence and work place, location and locality on the rental value of accommodation in Lagos metropolis. Data were sourced through a well-developed questionnaire, which was administered to 200 real estate professionals in Lagos Metropolis (Only 82 and 80 were collected from Lagos Mainland and Island respectively). Two models were developed for Lagos Mainland and Island. Results of the multivariate regression analysis of the Lagos Mainland model showed that income (p<0.05) is the only significant factor affecting the rental valu...
Equatorial Journal of Social Sciences & Human Behaviour, 2017
Many studies have been carried out to identify the factors affecting the rental values of accommo... more Many studies have been carried out to identify the factors affecting the rental values of accommodation in Nigeria. This study built on past studies, to investigate the effect of socioeconomic factors on the rental values of accommodation in Lagos Metropolis (Lagos Mainland and Island). Precisely, the study empirically explored the influence socioeconomic factors such as income, household size, accommodation, transportation network, distance between house residence and work place, location and locality on the rental value of accommodation in Lagos metropolis. Data were sourced through a well-developed questionnaire, which was administered to 200 real estate professionals in Lagos Metropolis (Only 82 and 80 were collected from Lagos Mainland and Island respectively). Two models were developed for Lagos Mainland and Island. Results of the multivariate regression analysis of the Lagos Mainland model showed that income (p<0.05) is the only significant factor affecting the rental value of accommodation. Also, results of the Lagos Island model indicated that income (p<0.05) and location (p<0.05) were found to significantly affect the rental value of accommodation in Lagos Island. The study suggests that government, real estate planners, property owners and stakeholders should take these socioeconomic factors into consideration before determining and reviewing the rental value of properties.
Equatorial Journal of Social Sciences and Human Behaviour, 2017; 2 (4):121-134, 2017
Economists have recognized inflows of investment as one of the ways to accelerate the pace of gro... more Economists have recognized inflows of investment as one of the ways to accelerate the pace of growth in emerging economies like Nigeria. This is largely due to the benefits a country stands to gain from inflows of investment. To this end, the study examined the impact of foreign direct investment and domestic investment on economic growth in Nigeria between 1985 and 2015. A model was developed to capture the effect of foreign direct investment, domestic investment, exchange rate and inflation rate on economic growth within the sampled period. Secondary data on these variables were sourced from the CBN Statistical Bulletin and Economic Watch Publications. The model was estimated using the Ordinary Least Square technique via the multivariate regression analysis. Results revealed that foreign direct investment has not contributed significantly to economic growth in Nigeria. Furthermore, it was equally discovered that domestic investment adversely affected growth within the period. The study therefore suggested that particularly vital for investment is macroeconomic stability and consistent policies. A good macroeconomic record includes high growth, a single-digit inflation rate, low rate of interest and relative stability in the real exchange rate. It is also important to have consistent and stable policies in order to engender confidence in economic agents and assure investors that government policies are credible and predictable.
The study focuses on the synergy among poverty, unemployment, human development and growth in Nig... more The study focuses on the synergy among poverty, unemployment, human development and growth in Nigeria between 1985-2013. The estimation technique adopted is the Ordinary Least Sqaures (OLS). The regression results gotten unveiled that the principal causes of poverty in Nigeria are unemployment and inflation rate. The study therefore recommend that government should incorporate an all-encompassing policies on job creation, poverty alleviation and human development.
It has been acknowledged in prior studies that FDI has the capacity to bring about rapid growth i... more It has been acknowledged in prior studies that FDI has the capacity to bring about rapid growth in an economy. The effect of FDI on the performance of manufacturing sector in Nigeria is inconclusive in literature. Against this backdrop, the study provided an empirical assessment on the contributions of FDI to manufacturing sector performance in Nigeria. The study utilized the Phillip-Perron Unit root test, Cointegration Test and Error Correction Modeling (ECM). The performance of the manufacturing sector was surrogated as manufacturing capacity utilization, and capital formation and annual growth rate of GDP were utilized to moderate the relationship between performance of Nigerian manufacturing sector and inflows of FDI. The findings unveiled that all the variables were integrated at order of zero, except manufacturing capacity utilization. Also, the cointegration test affirmed the existence of long-run relationship between the performance of manufacturing sector and FDI into the sector.. The ECM results unveiled that the short-run dynamics adjusts to long-run equilibrium at the rate of 22.3% per annum. Furthermore, FDI was found to exert positive but negligible effect on the performance of manufacturing sector within the sampled years. The study maintained that FDI did not tangibly contribute to the performance of Nigerian manufacturing sector between in the sampled period. The study suggested that an enabling investment environment should be established to spur the performance of the manufacturing sector in the country.
Economists have recognized inflows of investment as one of the ways to accelerate the pace of gro... more Economists have recognized inflows of investment as one of the ways to accelerate the pace of growth in emerging economies like Nigeria. This is largely due to the benefits a country stands to gain from inflows of investment. To this end, the study examined the impact of foreign direct investment and domestic investment on economic growth in Nigeria between 1985 and 2015. A model was developed to capture the effect of foreign direct investment, domestic investment, exchange rate and inflation rate on economic growth within the sampled period. Secondary data on these variables were sourced from the CBN Statistical Bulletin and Economic Watch Publications. The model was estimated using the Ordinary Least Square technique via the multivariate regression analysis. Results revealed that foreign direct investment has not contributed significantly to economic growth in Nigeria. Furthermore, it was equally discovered that domestic investment adversely affected growth within the period. The study therefore suggested that particularly vital for investment is macroeconomic stability and consistent policies. A good macroeconomic record includes high growth, a single-digit inflation rate, low rate of interest and relative stability in the real exchange rate. It is also important to have consistent and stable policies in order to engender confidence in economic agents and assure investors that government policies are credible and predictable.
The study analyzes the impact of foreign direct investment (FDI) and domestic investment (DI) on ... more The study analyzes the impact of foreign direct investment (FDI) and domestic investment (DI) on economic growth in Sub-Saharan Africa for the period 1990-2003. The results show that DI is positive and significantly correlated with economic growth in both the OLS and fixed effects estimation, but FDI is positive and significant only in the OLS estimation. The study also found that FDI has an initial negative effect on DI and subsequent positive effect in later periods for the panel of countries studied. The sign and magnitude of the current and lagged FDI coefficients suggest a net crowding out effect. The review of the literature and findings of the study indicate that the continent needs a targeted approach to FDI, increase absorption capacity of local firms, and cooperation between government and MNE to promote their mutual benefit.
Economists have recognized inflows of investment as one of the ways to accelerate the pace of gro... more Economists have recognized inflows of investment as one of the ways to accelerate the pace of growth in emerging economies like Nigeria. This is largely due to the benefits a country stands to gain from inflows of investment. To this end, the study examined the impact of foreign direct investment and domestic investment on economic growth in Nigeria between 1985 and 2015. A model was developed to capture the effect of foreign direct investment, domestic investment, exchange rate and inflation rate on economic growth within the sampled period. Secondary data on these variables were sourced from the CBN Statistical Bulletin and Economic Watch Publications. The model was estimated using the Ordinary Least Square technique via the multivariate regression analysis. Results revealed that foreign direct investment has not contributed significantly to economic growth in Nigeria. Furthermore, it was equally discovered that domestic investment adversely affected growth within the period. The ...
Many studies have been carried out to identify the factors affecting the rental values of accommo... more Many studies have been carried out to identify the factors affecting the rental values of accommodation in Nigeria. This study built on past studies, to investigate the effect of socioeconomic factors on the rental values of accommodation in Lagos Metropolis (Lagos Mainland and Island). Precisely, the study empirically explored the influence socioeconomic factors such as income, household size, accommodation, transportation network, distance between house residence and work place, location and locality on the rental value of accommodation in Lagos metropolis. Data were sourced through a well-developed questionnaire, which was administered to 200 real estate professionals in Lagos Metropolis (Only 82 and 80 were collected from Lagos Mainland and Island respectively). Two models were developed for Lagos Mainland and Island. Results of the multivariate regression analysis of the Lagos Mainland model showed that income (p<0.05) is the only significant factor affecting the rental valu...
Equatorial Journal of Social Sciences & Human Behaviour, 2017
Many studies have been carried out to identify the factors affecting the rental values of accommo... more Many studies have been carried out to identify the factors affecting the rental values of accommodation in Nigeria. This study built on past studies, to investigate the effect of socioeconomic factors on the rental values of accommodation in Lagos Metropolis (Lagos Mainland and Island). Precisely, the study empirically explored the influence socioeconomic factors such as income, household size, accommodation, transportation network, distance between house residence and work place, location and locality on the rental value of accommodation in Lagos metropolis. Data were sourced through a well-developed questionnaire, which was administered to 200 real estate professionals in Lagos Metropolis (Only 82 and 80 were collected from Lagos Mainland and Island respectively). Two models were developed for Lagos Mainland and Island. Results of the multivariate regression analysis of the Lagos Mainland model showed that income (p<0.05) is the only significant factor affecting the rental value of accommodation. Also, results of the Lagos Island model indicated that income (p<0.05) and location (p<0.05) were found to significantly affect the rental value of accommodation in Lagos Island. The study suggests that government, real estate planners, property owners and stakeholders should take these socioeconomic factors into consideration before determining and reviewing the rental value of properties.
Equatorial Journal of Social Sciences and Human Behaviour, 2017; 2 (4):121-134, 2017
Economists have recognized inflows of investment as one of the ways to accelerate the pace of gro... more Economists have recognized inflows of investment as one of the ways to accelerate the pace of growth in emerging economies like Nigeria. This is largely due to the benefits a country stands to gain from inflows of investment. To this end, the study examined the impact of foreign direct investment and domestic investment on economic growth in Nigeria between 1985 and 2015. A model was developed to capture the effect of foreign direct investment, domestic investment, exchange rate and inflation rate on economic growth within the sampled period. Secondary data on these variables were sourced from the CBN Statistical Bulletin and Economic Watch Publications. The model was estimated using the Ordinary Least Square technique via the multivariate regression analysis. Results revealed that foreign direct investment has not contributed significantly to economic growth in Nigeria. Furthermore, it was equally discovered that domestic investment adversely affected growth within the period. The study therefore suggested that particularly vital for investment is macroeconomic stability and consistent policies. A good macroeconomic record includes high growth, a single-digit inflation rate, low rate of interest and relative stability in the real exchange rate. It is also important to have consistent and stable policies in order to engender confidence in economic agents and assure investors that government policies are credible and predictable.
The study focuses on the synergy among poverty, unemployment, human development and growth in Nig... more The study focuses on the synergy among poverty, unemployment, human development and growth in Nigeria between 1985-2013. The estimation technique adopted is the Ordinary Least Sqaures (OLS). The regression results gotten unveiled that the principal causes of poverty in Nigeria are unemployment and inflation rate. The study therefore recommend that government should incorporate an all-encompassing policies on job creation, poverty alleviation and human development.
It has been acknowledged in prior studies that FDI has the capacity to bring about rapid growth i... more It has been acknowledged in prior studies that FDI has the capacity to bring about rapid growth in an economy. The effect of FDI on the performance of manufacturing sector in Nigeria is inconclusive in literature. Against this backdrop, the study provided an empirical assessment on the contributions of FDI to manufacturing sector performance in Nigeria. The study utilized the Phillip-Perron Unit root test, Cointegration Test and Error Correction Modeling (ECM). The performance of the manufacturing sector was surrogated as manufacturing capacity utilization, and capital formation and annual growth rate of GDP were utilized to moderate the relationship between performance of Nigerian manufacturing sector and inflows of FDI. The findings unveiled that all the variables were integrated at order of zero, except manufacturing capacity utilization. Also, the cointegration test affirmed the existence of long-run relationship between the performance of manufacturing sector and FDI into the sector.. The ECM results unveiled that the short-run dynamics adjusts to long-run equilibrium at the rate of 22.3% per annum. Furthermore, FDI was found to exert positive but negligible effect on the performance of manufacturing sector within the sampled years. The study maintained that FDI did not tangibly contribute to the performance of Nigerian manufacturing sector between in the sampled period. The study suggested that an enabling investment environment should be established to spur the performance of the manufacturing sector in the country.
Uploads
Papers by ISRAEL ODUBOLA
Drafts by ISRAEL ODUBOLA