Foreign Direct Investment and Inclusive Growth in Nigeria: The Role of the Financial Sector Development

Emeka Nkoro, Aham Kelvin Uko

Abstract


This study examined the role of the domestic financial sector development in the relationship between foreign direct investment (FDI) inflows and inclusive growth in Nigeria over the period, 1981-2020 using annual time series. Empirically, the result reveals that the FDI exerted a significant positive effect on inclusive growth when the domestic financial sector has reached a certain minimum level of development. The result further shows that the FDI alone has a significant negative effect on inclusive growth. This is evidence that the domestic financial sector development is a pre-condition for FDI to effectively promote inclusive growth in Nigeria.


Full Text:

PDF


DOI: https://doi.org/10.5430/ijfr.v13n3p28

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

This journal is licensed under a Creative Commons Attribution 4.0 License.


International Journal of Financial Research
ISSN 1923-4023(Print)ISSN 1923-4031(Online)

 

Copyright © Sciedu Press

To make sure that you can receive messages from us, please add the 'Sciedupress.com' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.