A N YA N WU , G . I.
Department of Banking and Finance
Imo State University
Owerri, Nigeria.
Abstract
The research work is structured to determine empirically the essence of foreign direct investment and Government external borrowing on Nigeria economic growth. The data employed for the study comprised time series of economic growth proxy by GDP, foreign direct investment and Government borrowing extracted from CBN statistical bulletin 2005 – 2018 respectively; econometric tools such as equilibrium correction model, graph and granger causality were used to analyze the time series data obtained from CBN bulletin; the result shows that Government borrowing is significant to stimulating economic growth while foreign direct investment is insignificant. The recommendation was that Government should endeavor to channel her external borrowings toward productive purposes in the country.
Keyword: ECM, Granger Causality, Graph, FDI.
International Journal of Business and Common Market Studies Vol.13 No. 1&2 © 2019 by The Development Universal Consortia. All Rights Reserved