Capital Flight, Investment and Financial Globalisation in Nigeria: Capital Flight and Domestic Investment in Nigeria in the period of a Financially Globalising World
Автор:Kehinde Adetiloye Год: 2012 Издание: [не указанo] Страниц: 196 ISBN: 384849065, 384849065X, 384849065X Nigeria is suffering from capital flight which has been a problem to the economy. This is affecting domestic investment especially at this period of financial globalisation. This study examined the relationship between capital flight in Nigeria and investment at this period of financial globalisation with data from 1970 to 2007. The OLS technique is used in determining the significant variables in investment and globalisation while ECM is adopted to determine relationship between investment and capital flight with the variables of exchange rates, investment, Kaopen, financial savings, external reserves and interest rate differential among others. The study finds that the rate of exchange is significant in investment and financial globalisation. The estimates of capital flight do not significantly impact investment. This study also shows role of errors and omissions in distorting the estimates of capital flight in Nigeria. The study recommends further floating of the currency to...
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