Issue

Vol. 39 No. 2 (2014): Africa Development

1 - Technology Transfer, Foreign Direct Investment and Economic Growth in Nigeria

https://doi.org/10.57054/ad.v39i2.895
Omojola Omowumi Awosusi
Olawumi Dele Awolusi

Corresponding Author(s) : Omojola Omowumi Awosusi

jolaawosusi@yahoo.com

Africa Development, Vol. 39 No. 2 (2014): Africa Development

Abstract

The aim of this study is to investigate the long-run equilibrium relationship between various international factors and economic growth, as well as to assess the short-term impact of inward FDI, trade and economic growth on international technology transfer to Nigeria. To achieve this, the study used a time series data from 1970 to 2010. A multivariate co-integration technique developed by Johansen and Juselius (1990) was employed to investigate the long-run equilibrium relationships between the international factors and economic growth. The results of the analysis affirmed the existence of co-integrating vectors in the systems of this country during the study period (Lee and Tan 2006). The short-term impact of inward FDI, trade and economic growth on international technology transfer to Nigeria was also tested via Granger Causality test, based on Vector Error-Correction Model. The results of the test revealed a short-run causal effect either running unidirectionally or bidirectionally among the variables for the country. Policy implications are highlighted at the end of this article.

Keywords

Foreign Direct Investment economic growth international technology transfer trade Nigeria
[1]
Awosusi, O.O. and Awolusi, O.D. 2021. 1 - Technology Transfer, Foreign Direct Investment and Economic Growth in Nigeria. Africa Development. 39, 2 (Sep. 2021). DOI:https://doi.org/10.57054/ad.v39i2.895.
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Author Biographies

Omojola Omowumi Awosusi

Department of Sociology, Faculty of Social Sciences, University of Ado Ekiti (now Ekiti State University, Ado Ekiti). E-mail: jolaawosusi@yahoo.com

Olawumi Dele Awolusi

Department of Business Administration and Marketing, School of Management and Social Sciences, Babcock University, Ilishan-Remo, Ogun State, Nigeria. E-mail: awosco44@yahoo.com

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