TABLE OF CONTENTS
Title Page
Approval Page
Declaration
Dedication
Acknowledgements
Abstract
Table of contents
List of Tables
List of Figures
CHAPTER ONE
1.1. Background of the study
1.2. Statement of Research Problem
1.3. Objectives of the study
1.4 Research Questions
1.5 Hypothesis of the study
1.6 Scope of the study
1.7 Limitations of the study
1.8 Significance of the study
References
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1 Conceptual Review
2.1.1. Concept of foreign Direct Investment
2.1.2. Types of FDI
2.2. Theoretical review
2.2.1.. Economic and foreign direct investment Theories
2.2.2. Export Theory
2.2.3. Market Imperfection Theory
2.2.4. International Production Theory
2.2.5. Modernization Theory
2.2.6. Dependency Theory
2.3. Determinants of foreign investment
2.4. Foreign direct investment and sustainable development: The Nigerian experience
2.4.1 Pre-1999
2.4.2 Post- 1999
2.5. Doing business in Nigeria: The DOS, DON’TS and frequently asked Questions
2.5.1. How do I set up a Company in Nigeria?
2.5.2. Is Nigeria a dangerous country?
2.5.3. Why is Nigeria an important market?
2.5.4. Perspective of FDI on the Nigerian market
2.6. Potential pros and cons of foreign direct investment to host countries
2.6.1 Foreign direct investment technology transfer
2.6.2 Foreign direct investment and human capital formation/ enhancement
2.6.3 Foreign direct investment and business competition
2.6.4 Foreign direct investment and enterprise development
2.6.5. Stimulation of economy
2.7. Guidelines for direct investment in Nigeria
2.7.1. FDI and capital formation
2.7.2. Foreign capital importation for starting a new enterprise in Nigeria
2.7.3. Divestment (withdrawal) by a foreign investor
2.8. Impact of corporate governance on foreign direct investment in Nigeria
2.8.1. Foreign direct investment (FDI) and sustainable growth
2.9. Foreign direct investment its impact on developing countries
2.9.1. FDI’s impact on growth remains ambiguous
2.9.2. Impact of FDI on economic growth in Nigeria
2. 10. Review of recent Trends in the flow of foreign direct investment
2.10.1. World trend
2.10.2. African trend
References
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research design
3.2. Nature and Sources of Data
3.3 Model Specification
3.4. Explanatory variables
3.5. Techniques of Analysis
References
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1. Introduction
4.2. Data presentation and analysis
4.2.1 Analysis of regression result for hypothesis 1
4.2.2 Analysis of regression result for hypothesis 2
4.2.3 Analysis of regression result for hypothesis 3
References
CHAPTERFIVE: SUMMARYOFFINDINGS,CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings
5.2. Major contribution of the outcomes of the study to knowledge
5.3. Conclusion
5.4 Recommendations
Bibliography
Appendix
ABSTRACT
Generally, policies and strategies of Nigerian government towards foreign direct investments are shaped by two principal objectives of desire for economic independence and the demand for economic development. Multinational corporations are expected to bring into the country foreign capital in the form of technical skills, entrepreneurship, and technology and investment fund to boost economic activities thereby, raising the standard of living in Nigeria. The main issues in this paper relate to understanding those factors that determine foreign direct investment in Nigeria as well as our ability to attract adequate amounts sufficient enough to accelerate the pace of our economic growth and development. Foreign direct investment (FDI) is assumed to benefit a developing country like Nigeria, not only by supplementing domestic investment, but also in terms of employment creation, transfer of technology, increased domestic competition and other positive externalities. This work tried to answer the question; what are the FDI determinants in Nigeria and how do they affect the Nigerian economy? Secondary data were collected for the period 1999-2013. In order to analyze the data, both econometric and statistical methods were used. Tables were produced in order to create a visual impression of the dependence of the Nigerian economy on that of donor countries such as Western Europe and North America. The economic regression model of ordinary least square was applied in evaluating the extent to which foreign direct investment affect major economic indicators such as gross domestic product, inflation and exchange rate. The model revealed little impact of foreign direct investment on each of these variables, foreign direct investment has not contributed much to the growth and development of Nigeria. This is evident in reality of enormous repatriation of profits, dividends, contract fees, and interest payments on foreign loans. The study, thus, suggests that in order to further improve the economic climate for foreign direct investment in Nigeria; the government must appreciate the fact that the basic element in any successful development strategy should be the encouragement of domestic investors first before going after foreign investors.
CHAPTER ONE
INTRODUCTION
1.1. Background of the study
Nigeria is a developing country, like other developing countries, it needs investments from within and outside to develop. This study focuses on the investment from outside. In other words, we are looking at those factors that determine the inflow of Foreign Direct Investment in Nigeria. Foreign direct investment (FDI) as a major component of international capital flows is an investment made to acquire lasting interest in enterprises outside the country of the investor; it has long been a subject of great interest in the field of international development. The division of the world into emerging and developing is sometimes predicated upon the availability and/or the effective utilization of resources. The relative scarcity of resources has often been identified as a major problem confronting nations and this call for their judicious use. On the other hand, this argument can be cast in terms of the overall development of nations
The general rate of development and growth is thus limited by the shortage of productive factors. Development economists like Caircross ( 1955, 1962) ,Hicks (1965), Newlyn (1977) have gone further to single out capital as the critical missing ingredient in the development of the developing countries,. In this manner, Caircross (1955) forcefully illustrated this fact when he observed that the contribution of capital to economic progress embraces three distinct processes.
1) A greater abundance of capital permits the introduction of more roundabout methods of production.
2) The accumulation of capital is a normal process or feature of economic expansion however originating.
3) Additional capital may be required to allow technical progress to take place.
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