Title:

Financial globalisation and economic transformation in Africa: Evidence from Nigeria

Group publication title:

Financial Sciences. Nauki o Finansach

Title in english:

Globalizacja finansowa i transformacja gospodarcza w Afryce na przykładzie Nigerii

Creator:

Idode, Patrick ; Sanusi, Gbenga

Subject and Keywords:

foreign direct investment ; financial globalization ; per capita income ; market capitalization ; personal remittance ; globalizacja finansowa ; bezpośrednie inwestycje zagraniczne ; dochód per capita ; kapitalizacja rynku ; transfery prywatne

Description:

Financial Sciences. Nauki o Finansach, 2019, vol. 24, no. 1, s. 7-24

Abstrakt:

This study examines the effects of financial globalisation on the Nigerian economy using data from the Central Bank of Nigeria statistical bulletin and the Nigeria Bureau of Statistics reports from 1992 to 2017. Using both descriptive and inferential statistical analyses, the study reveals that financial globalisation has helped to mobilise foreign direct investment into the economy and the significant positive effect of personal remittances on per capita income of Nigerians. Therefore it recommends that favourable policies to attract and retain FDI and personal remittances from developed nations should be encouraged and African governments and economic actors should consider all stakeholders’ interests, and ensure that an international financial and trade system is “fair and reciprocal” to eliminate the persisting trends in abject poverty, predatory trade policies and the escalation of economic inequalities in Africa.

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2019

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/fins.2019.1.01

Language:

eng

Relation:

Financial Sciences. Nauki o Finansach, 2019, vol. 24, no. 1

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-NC-ND 3.0 PL

Location:

Uniwersytet Ekonomiczny we Wrocławiu