{"title":"Financial Development: An Empirical Study of Foreign Direct Investment in Nigeria (1999-2021)","authors":"Prince Chinedu Okeke","doi":"10.56201/jafm.v9.no3.2023.pg150.160","DOIUrl":null,"url":null,"abstract":"This study determined the effect of financial development on foreign direct investment in Nigeria. The study adopted Ex Post Facto research design. Data were obtained from Central Bank of Nigerian Statistical Bulletin from 1999 to 2021. The hypotheses were tested with regression analysis, and the result shows that credit to private sector and market capitalization were positively affected by foreign direct investment, though the effects were not statistically significant. Based on the findings, government should create enabling environment that will encourage foreign direct investment in the industrial production sector which will help to increase the nation gross domestic product","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":3.0000,"publicationDate":"2023-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Public Budgeting, Accounting and Financial Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.56201/jafm.v9.no3.2023.pg150.160","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
This study determined the effect of financial development on foreign direct investment in Nigeria. The study adopted Ex Post Facto research design. Data were obtained from Central Bank of Nigerian Statistical Bulletin from 1999 to 2021. The hypotheses were tested with regression analysis, and the result shows that credit to private sector and market capitalization were positively affected by foreign direct investment, though the effects were not statistically significant. Based on the findings, government should create enabling environment that will encourage foreign direct investment in the industrial production sector which will help to increase the nation gross domestic product
期刊介绍：
Published four times a year, the Journal of Public Budgeting, Accounting & Financial Management (JPBAFM) is an international refereed journal which aims at advancement and dissemination of research in the field of public budgeting, accounting, auditing, financial and performance management. The journal is committed to be an outlet for rigorous conceptual and empirical works aimed at challenging and innovating the field of accounting, management and governance in entities operating in the public sphere or public-private sphere (territorial government entities, universities, schools, hospitals as well as state-owned enterprises, hybrid organizations, public and private partnerships, non-profit organizations, NGOs, etc.).
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