CHAPTER ONE INTRODUCTION 1.1 Background of the Study Industrialization has not only changed the way the world do business but also changed the world itself. Fortunately, Nigeria is one of the countries that did not escape its impact. Industrialization is the process of social and economic change that transforms a human group from a pre-industrial society into an industrial one. It is a part of a wider modernization process, where social change and economic development are closely related with
CHAPTER ONE INTRODUCTION 1.1 Background of the Study Industrialization has not only changed the way the world do business but also changed the world itself. Fortunately, Nigeria is one of the countries that did not escape its impact. Industrialization is the process of social and economic change that transforms a human group from a pre-industrial society into an industrial one. It is a part of a wider modernization process, where social change and economic development are closely related with
ABSTRACT This study attempted to estimate the environmental impact of Foreign Direct Investment in the mining sector in Nigeria. It is argued that only those countries that have reached a certain income level can absorb new technologies and benefit from technology diffusion, and thus reap the extra advantages that FDI can offer. The mining industry in Nigeria is dominated by oil. Indeed, Nigeria is the largest producer of this commodity in Africa and sixth largest producers in the world. This research
Evaluate the advantages and disadvantages of Foreign Direct Investment with particular reference to any one low-income country of your choice. Foreign Direct investment is an increasingly important outlet for resource transfers between industrial and developing nations. According to the world bank, FDI is a form of investment occurring when a business enterprise operates, has control or obtains a substantial degree of influence on the management of an enterprise in another country (generally 10%
GLOBALIZATION AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM NIGERIA By KELECHI IYOKO. Abstract The concomitant unequal distribution of the benefits of Globalisation and the fear expressed by most developing countries about the negative impact of globalization, has made the question on the relationship between globalization (characterized by foreign direct investment, economy openness and net capital flows) and Economic Growth both in developed and developing countries lie at the heart
Foreign investment capital, both in cash and in kind (e.g. by way of machinery and equipment, technical expertise and services), play vital role in the development of Nigeria (Agosin, 2000). Nigeria has an extreme shortage of long-term debt capital, as well as equity funds. Other financial instruments that could support private sector development, such as leasing, are underdeveloped (CBN, 1992). In a continent where finance is a major constraint on development, the private sector in Nigeria, in particular
Journal of Economics and Sustainable Development ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online) Vol.4, No.10, 2013 www.iiste.org An Evaluation and Forecast of the Impact of Foreign Direct Investment in Nigeria’s Agriculture Sector in A VAR Environment Ayodeji Adetunji Idowu* Liu Ying Huazhong Agricultural University, No.1, Shizishan Street, Hongshan District, Wuhan, Hubei Province · 430070 · P.R. China * E-mail of the corresponding author: ayodeji.idowu@hotmail.com The research is financed
Ideally every country should export more goods and services than it import goods and service. This differs on the natural resources, technology and labour force. Nigeria is Africa’s most populous country with a population of over 150 million people. It is one of the largest oil producers in the continent creating huge inflows of foreign income. Without question it holds enormous
past decade the world has witnessed a collapse of the world financial system, the Euro-zone crisis, an imploding Middle East, conflicts in Ukraine and natural disasters that have rocked global stock markets and investor confidence. Global Foreign Direct Investment (FDI) fell by 18 per cent to $1.3 trillion in 2012. This decline was in sharp contrast to other key economic indicators like GDP and unemployment registered positive growth at the global level (United Nations, 2013). The economic fragility
Economic Overview 3 Gross Domestic Product (GDP) 3 GDP Composition 4 Inflation 4 Shadow Economy 5 Trade Overview 5 Foreign Debt 7 Labor Market & Human Capital 7 Population and Income Inequality 8 Unemployment 9 Currency 10 Money Supply and Monetary Control 10 Fiscal policy 12 Exchange rates 12 Interest Rates 13 Foreign Direct Investment 14 Globalization and Comparative Advantage 14 Conclusion 15 References 16 Economic Overview Nigeria's economy is estimated