Determinants of Foreign Direct Investment and Its Causal Effect on Economic Growth in Nigeria

Abstract

Foreign direct investment (FDI) is an important tool for the growth of any economy as it is more stable than several forms of capital flows. The consensus is that it provides the much needed requirement for economic development and growth. However, evidences in Nigeria have shown FDI crowding out domestic firms and possible contraction of the economy thereby affecting industries and employment. Hence, this study primarily examined the determinants of FDI and its causal effect on the economic growth of Nigeria...