The Effects of Foreign Direct Investment Uncertainty on Financial Development in Nigeria: An Asymmetric Approach

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Farouq Ibrahim Sambo; Sulong Zunaidah

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Journal: Interdisciplinary Journal of Management Studies Year:2021 | Volume:14 | Issue:2 Page(s): 383-399

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Title

The Effects of Foreign Direct Investment Uncertainty on Financial Development in Nigeria: An Asymmetric Approach

Author(s)

Farouq Ibrahim Sambo | Sulong Zunaidah | Issue Writer Certificate

Keywords

Non-linear ARDLQ1

Diks and PanchenkoQ1

Gregory HansenQ1

InteractionQ1

Financial developmentQ1

Abstract

This article investigates the dynamic effects of foreign direct investment uncertainty on Financial development in Nigeria and the interacting role of financial inclusion and economic growth. We used the annual time series data of Nigeria covering the period 1970-2018. Through advanced econometric techniques, we first substantiated stationarity level and co-integration among the scrutinized variables, which is genuinely done for reliable findings. Following that, we applied Gregory and Hansen (1996) co-integration test, Non-linear ARDL as the elasticity estimator, and Diks and Panchenko (2006) causality test for the analysis. The Empirical evidence postulates the asymmetric nature of foreign direct investment uncertainty to Financial development. We also found a non-linear uni-directional causality running from economic growth to Financial development, foreign direct investment uncertainty to Financial development, and financial inclusion to Financial development. In the end, the authors proposed the needed policy recommendations to strengthen the Nigerian financial sector.

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APA: Copy

Farouq, Ibrahim Sambo, & Sulong, Zunaidah. (2021). The Effects of Foreign Direct Investment Uncertainty on Financial Development in Nigeria: An Asymmetric Approach. IRANIAN JOURNAL OF MANAGEMENT STUDIES, 14(2 ), 383-399. SID. https://sid.ir/paper/367850/en

Vancouver: Copy

Farouq Ibrahim Sambo, Sulong Zunaidah. The Effects of Foreign Direct Investment Uncertainty on Financial Development in Nigeria: An Asymmetric Approach. IRANIAN JOURNAL OF MANAGEMENT STUDIES[Internet]. 2021;14(2 ):383-399. Available from: https://sid.ir/paper/367850/en

IEEE: Copy

Ibrahim Sambo Farouq, and Zunaidah Sulong, “The Effects of Foreign Direct Investment Uncertainty on Financial Development in Nigeria: An Asymmetric Approach,” IRANIAN JOURNAL OF MANAGEMENT STUDIES, vol. 14, no. 2 , pp. 383–399, 2021, [Online]. Available: https://sid.ir/paper/367850/en

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