The objective of the study is to carry out a comparative analysis of the impact of domestic investment and foreign direct investment on economic growth in Nigeria using annual time series data for the period of 1980 to 2014. This investigation is imperative because Nigeria as a country, given her natural resource base and large market size is expected to be a major recipient of foreign direct investment in Africa and one of the top leading African that ought to consistently attract foreign direct investment. However, the level of foreign direct investment inflows to Nigeria is mediocre when compared with her resource base and potential need. In an attempt to achieve the broad objective of this study, an ordinary least square (OLS) econometric model was formulated to capture the impact of domestic investment and foreign direct investment on economic growth in Nigeria. The data for the analysis of the model were collected from Central Bank of Nigeria Statistical Bulletin for the period of 1980 to 2014. Ordinary least square multiple regression approach was adopted for the estimation of the regression model formulated and the result of the model was facilitated using the Econometric View (E-View). The result of the analysis shows clearly that foreign direct investment has an insignificant positive effect on economic growth while the effect of domestic investment on economic growth was negative but it was also not statistically significant. In addition, it was also found that total trade and money supply have a significant positive effect on economic growth in Nigeria over the sample period. Among other, the study recommends that policy makers should focus on promotional resources to attract some types of foreign direct investment and regulate others
TABLE OF CONTENTS
CHAPTER ONE – INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Research Hypothesis
1.6 Sources of Data and Methodology
1.7 Significance of the Study
1.8 Scope and Plan of the Study
CHAPTER TWO – LITERATURE REVIEW AND THEORETICAL FRAMEWORK
2.1 Conceptual Review
2.1.1 The Concept of Investment
2.1.4 Types of Investment
2.1.2 Domestic investment
2.1.3 Foreign direct Investment
2.1.2 Rationale for Attracting Foreign Direct Investment
2.1.4 Distinction between Private and Public Investment
2.1.5 Acceleration Principle of Investment
2.2 Theoretical Review
2.2.1 Product Life-Cycle theory
2.2.2 Monopolistic Advantage Theory
2.2.3 The Eclectic paradigm
2.3 Empirical Review
CHAPTER THREE – RESEARCH METHODOLOGY
3.1 Introduction
3.2 Nature and Sources of Data
3.3 Restatement of Hypothesis
3.4 Model Specification
3.5 A priori Expectation
3.6 Decision Criteria
CHAPTER FOUR – PRESENTATION AND ANALYSIS OF DATA
4.1 Data Presentation
4.2 Presentation and Analysis of Result
4.3 Interpretation of result
4.4 Conclusion of Findings
CHAPTER FIVE -SUMMARY, CONCLUSION, AND RECOMMENDATIONS
5.1 Summary of findings
5.2 Conclusion
5.3 Recommendations
REFERENCES
APPENDIX
