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2022, Vol: 3, Issue: 1
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Research Article 


IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D..

Abstract
This research investigated the impacts of Foreign Direct Investment (FDI) on economic growth in five selected West African countries: Benin, Cote d’ivoire, Ghana, Niger, and Nigeria. Data were collected from the World Bank databank, precisely World Development Indicator (WDI) database. Seemingly Unrelated Regression Equation (SURE) was used as a statistical technique to achieve the set aim. The results showed that the FDI positively and significantly impacted Benin, Ghana, and Niger. For every 1% increment in FDI at a previous lag of one in Benin, there tends to be a 3.73% increment in economic growth. More so in Ghana, for every 1% increment in FDI at a previous lag of two, there tends to be 9.44% in economic growth. At the same time, Niger showed a 1-1 ratio of positive impact. However, in Cote d’ivoire and Nigeria, the FDI was not vibrant enough to stir the two countries' economic growth as none of the parameters showed significant contributions.

Key words: FDI; SURE; GDP, WDI, Economic, Growth


 
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How to Cite this Article
Pubmed Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D.. IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES. SJACR. 2022; 3(1): 36-51.

Web Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D.. IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES. https://www.sjacrksusta.com/?mno=149219 [Access: December 06, 2023].

AMA (American Medical Association) Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D.. IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES. SJACR. 2022; 3(1): 36-51.


Vancouver/ICMJE Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D.. IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES. SJACR. (2022), [cited December 06, 2023]; 3(1): 36-51.


Harvard Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D. (2022) IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES. SJACR, 3 (1), 36-51.


Turabian Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D.. 2022. IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES. Science Journal of Advanced and Cognitive Research, 3 (1), 36-51.


Chicago Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D.. "IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES." Science Journal of Advanced and Cognitive Research 3 (2022), 36-51.


MLA (The Modern Language Association) Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D.. "IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES." Science Journal of Advanced and Cognitive Research 3.1 (2022), 36-51. Print.


APA (American Psychological Association) Style

Babayemi, A. W., Onwuka, G. I., Haliru, I. W., Ladan, S and Abubakar, D. (2022) IMPACTS OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH OF SOME SELECTED WEST AFRICAN COUNTRIES. Science Journal of Advanced and Cognitive Research, 3 (1), 36-51.


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