Foreign Portfolio Investment-Economic Growth Nexus in Nigeria: Co Integration and Granger Causality Analyses

Authors

  • Akinbobola T. O Department of Economics, Obafemi Awolowo University, Ile-Ife Oyo State Nigeria
  • Ibrahim T. Razaq Department of Economics, Obafemi Awolowo University, Ile-Ife Oyo State Nigeria
  • Ibrahim Odusanya Department of Economics, Obafemi Awolowo University, Ile-Ife Oyo State Nigeria

Keywords:

Causality, Foreign Portfolio Investment, Economic Growth

Abstract

The study employed Wald causality methodology to uncover the direction of causal relationship between foreign portfolio investment and economic growth in Nigeria between 1986 and 2013. The empirical results suggest that foreign portfolio investment and economic growths are positively cointegrated indicating a stable long run equilibrium relationship. Further, the findings revealed bidirectional causality between foreign portfolio investment and economic growth and the complementary role of domestic savings and interest rate in growth.

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Published

2024-07-28

How to Cite

Akinbobola T. O, Ibrahim T. Razaq, & Ibrahim Odusanya. (2024). Foreign Portfolio Investment-Economic Growth Nexus in Nigeria: Co Integration and Granger Causality Analyses. American Journal of Public Diplomacy and International Studies (2993-2157), 2(7), 197–205. Retrieved from http://grnjournal.us/index.php/AJPDIS/article/view/5607

Issue

Vol. 2 No. 7 (2024): American Journal of Public Diplomacy and International Studies

Section

Articles