Capital Flow Components and Industrial Sector Performance in Nigeria

Olunkwa Chidi Ndubuisi () and Shobande Olatunji Abdul ()
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Olunkwa Chidi Ndubuisi: University of Lagos
Shobande Olatunji Abdul: University of Lagos

Ovidius University Annals, Economic Sciences Series, 2018, vol. XVIII, issue 1, 48-57

Abstract: The study focused on capital flow components and industrial performance in Nigeria for theperiod 1980 and 2016. Furthermore, VEC Model is used for the study, while granger causality testis employed to examine the causal link between capital flow components and industrialperformance proixed with industry value added. The result affirm that long-run and short-runrelationship exists between capital flow components and industrial performance, and no causalityexist between workers’ remittance, official development assistance and industry valued, althoughunidirectional causality exist between foreign capital inflow and industry value added. In addition,the paper recommend that for there to be sustainable improvement in the industrial sector,government have to urgently address the issue of insecurity and policy inconsistency so as to allowfree flow of capital, workers’ remittance and foreign investors confidence into the country.

Keywords: Industry value added; foreign capital inflow; Workers’ remittance; Official Development Assistance (search for similar items in EconPapers)
JEL-codes: F24 F35 F36 L16 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xviii:y:2018:i:1:p:48-57

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