Economics, Econometrics and Finance
5 years ago

Stock market development key to unlocking growth potential of FDI in Nigeria.

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FDI and economic growth in Nigeria: an analysis of the role of financial development on linkages
Chibuzo Amadi

Paper Summary

Foreign direct investment (FDI) in Nigeria does not have a long-term impact on economic growth, but there is a short-term relationship between the two. Stock market development plays a significant role in enhancing the benefits of FDI on economic growth in Nigeria, while banking development does not have the same effect. Market-based indicators of financial development are more closely linked to FDI inflows and economic growth than bank-based indicators.

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