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Oil Price And Foreign Direct Investment In Nigeria: New Evidence From Structural Breaks And A Nonlinear Analysis, Shehu Muhammad
Oil Price And Foreign Direct Investment In Nigeria: New Evidence From Structural Breaks And A Nonlinear Analysis, Shehu Muhammad
Bullion
The study employed Nn-Linear and Auto-Regressive Distributed Lag (NARDL) method to analyse the link between oil price and foreign direct investment (FDI) using annual data from (1970 to 2018 Bai-Perman (2003) test revealed two structural break periods (1989 and 1995 showing a long-run relationship between oil price and FDI in Nigeria. The findings after NARDL estimation (short and long runs), showed that oil price, exchange rate and trade, negatively and insignificantly influenced FDI while GDP positively impacted on FDI, through insignificant too. The study concluded that though these variables slow down FDI efforts should be geared towards channeling oil funds …