Description
Abstract
This project looks at Determinant of foreign direct investment in Nigeria and its effect on Nigerian economy: an empirical analysis. Nigeria in the last few decades has been clamoring for foreign investment in the country. This is believed to be a facilitator to economic growth and development. Foreign direct investment in this study is seen by most economies as a catalyst for industrialization of the economy in the long run. This project work is aimed at seeing the relevance of GDP growth rate, exchange rate, inflation rate and savings on foreign direct investment in Nigeria. A linear multiple regression model was used in the data analysis to check the relevance of the predictor variables on foreign direct investment. Adjustments in the predictor variables were also carried out using the stepwise method to determine which of the predictor variable(s) is (are) utmost significant. Significant test of each of the predictors was conducted to determine their significant to FDI. It was discovered after the estimate that, of all the variables estimated, savings is the variable that affects FDI most in Nigeria.
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