Effect of Foreign Direct Investment on Economic Development of 
Nigerian Economy

David Johnny Ekanem; Etim Osim Etim; Raymond Ekwere Enang; Uduak Jackson Ekanem

doi:https://doi.org/10.56201/ijefm.v8.no7.2023.pg27.40

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Effect of Foreign Direct Investment on Economic Development of Nigerian Economy

David Johnny Ekanem, Etim Osim Etim, Raymond Ekwere Enang, Uduak Jackson Ekanem

Abstract

This study centered on effect of Foreign Direct Investment (FDI) on economic development of Nigerian economy. The main objective of this study was to assess the effect of exchange rate on economic development of Nigerian economy; and to examine the effect of interest rate on economic development of Nigerian economy. Ex-facto research design was used in the study as the researcher relied heavily on secondary data that covered 31 years period (1990-20201). The formulated null hypotheses were analyzed using simple linear regression. Results from the study showed that exchange rate has a significant effect on economic development of Nigerian economy (R

References

Ajakaiye, O. (2001). Impact of Exchange Rate Depreciation on Sectorial Prices. NISER Monograph Series (1986-2000). AERC Research Paper 25 African Economic Research Consortium, Nairobi. Andabai, P. and Chukwunulu, J. (2018). Microfinance Banks’ Credit and the Growth of Small and Medium Scale Business in Nigeria (1990-2016): Investigating the Nexus. Journal of Economics and Sustainable Development, 9(6): 28-33. Chizea, B. (1993). Interest Rates, Exchange Rates and Inflation. The Nigerian Banker Oct-Dec. 6- 11.

Effect of Foreign Direct Investment on Economic Development of Nigerian Economy

Abstract

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