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Sparklyn Capital Flight and Investment in Nigeria in the Era of Financial Globalization (1970-2007)
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Capital Flight and Investment in Nigeria in the Era of Financial Globalization (1970-2007)

This page presents an excerpt of the research material, providing a comprehensive overview of the study. It includes the Preliminary Pages, Table of Contents, Abstract, Chapters One to Five, and References, making it accessible and informative for students, researchers, and other readers interested in the topic of this study. Acknowledgement is also included, expressing gratitude to the individuals, institutions, and resources that contributed to the successful completion of the research, with materials and information sourced from the online platform sparklyn.com.ng, which provided valuable academic support.

TABLE OF CONTENTS

PRELIMINARY PAGES

  • Title page
  • Approval page
  • Dedication
  • Acknowledgement
  • Table of Contents
  • Abstract

CHAPTER ONE

INTRODUCTION

  • 1.1 Introduction
  • 1.2 Background of Study
  • 1.3 Statement of the Problem
  • 1.4 Aim and Objective of the Study
  • 1.5 Research Questions
  • 1.6 Research Hypothesis
  • 1.7 Significance of Study
  • 1.8 Scope of Study
  • 1.9 Limitations of the Study
  • 1.10 Operational Definition of Terms

CHAPTER TWO

LITERATURE REVIEW

  • 2.1 Introduction
  • 2.2 Conceptual Review
  • 2.3 Theoretical Framework
  • ⋮
  • 2.4 Empirical Studies
  • 2.5 Research Gaps
  • 2.6 Summary of Literature Review

CHAPTER THREE

RESEARCH METHODOLOGY

  • 3.1 Introduction
  • 3.2 Research Design
  • 3.3 Population of Study
  • 3.4 Sampling and Sampling Technique
  • 3.5 Validation of Research Instrument
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Questionnaire Administration
  • 3.9 Ethical Consideration
  • 3.10 Statistical Analysis

CHAPTER FOUR

DATA ANALYSIS, RESULT AND DISCUSSION

  • 4.1 Introduction
  • 4.2 Presentation and Analysis of Data
  • 4.3 Re-statement of Research Questions
  • 4.4 Test of Hypotheses
  • 4.5 Discussion of Findings

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

  • 5.1 Introduction
  • 5.2 Summary of Findings
  • 5.3 Conclusion
  • 5.4 Recommendation
  • 5.5 Suggestion for Further Study

REFERENCES

APPENDIX A - “QUESTIONNAIRE”

ABSTRACT

As being experienced in many developing countries, Nigeria has been experiencing confirmed capital flight which has been a problem believed to have adversely affected domestic investment. The existence of this problem is further accentuated by the financial globalisation process which has enabled capital to flow more freely than before between countries of the world. This study examined the relationship between capital flight in Nigeria and investment during the period of financial globalisation with data from 1970 to 2007.

The main variables used were exchange rates, investment, Kaopen, financial savings, external reserves and interest rate differential among others. Ordinary Least Square (OLS) technique is used in determining the significant variables in investment and financial globalisation, while Vector Error Correction Mechanism (VECM) was adopted to determine the long-term relationship between investment and capital flight. The study finds that the rate of exchange is significant in investment and financial globalisation but not significant in World Bank and Dooley estimates of capital flight. The different estimates of capital flight do not significantly impact negatively against investment though it has a long-term negative impact on external reserves of the country. The Dooley definition of capital flight is found to more significant in the Nigeria case than the World Bank as its impact is negative on the investment, though not significant.

This signifies the role of errors and omissions in distorting the estimates of capital flight in Nigeria. The other determinant of capital flight is the interest rate differential in the co-integrating equation. Unusually, the Kaopen measure is significant in the Nigeria financial globalisation scenario, which calls for careful foreign exchange rate management to determine the rate of the exchange. The study recommends a cleaner floating of the domestic currency to reduce capital flight, the improvement of the business environment and an increase in the autonomous investment by both public and private sectors in the economy to induce other domestic investments, which will facilitate inflow of capital.

CHAPTER ONE

1.1 Introduction

In this section, Capital Flight and Investment in Nigeria in the Era of Financial Globalization (1970-2007) is discussed, with relevant and recent citations. As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the aim and objectives of the study. Others are significance of the study, scope of work, research hypothesis and questions, limitation of the study and definition of terms.

CHAPTER TWO

LITERATURE REVIEW

2.1 Introduction

This chapter focuses on the review of related literature. A literature review presents current knowledge, as well as theoretical and methodological contributions, related to Capital Flight and Investment in Nigeria in the Era of Financial Globalization (1970-2007). It documents the state of the art on the subject under study and provides a comprehensive survey of existing literature. In this research work the literature review includes the conceputal review, theoretical framework, the review of related literature …

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