@article{OWUTUAMOR:281186,
      recid = {281186},
      author = {OWUTUAMOR, Zechariahs Benapugha and ARENE, Chukwuemeka  John },
      title = {THE IMPACT OF FOREIGN DIRECT INVESTMENT (FDI) ON  AGRICULTURAL GROWTH IN NIGERIA (1979-2014)},
      journal = {Review of Agricultural and Applied Economics (RAAE)},
      address = {2018-03-31},
      number = {1340-2018-5169},
      month = {Mar},
      year = {2018},
      note = {doi: 10.15414/raae.2018.21.01.40-54  https://roaae.org/issue/review-of-agricultural-and-applied-economics-raae-vol-21-no-12018/?article=the-impact-of-foreign-direct-investment-fdi-on-agricultural-growth-in-nigeria-1979-2014},
      abstract = {This study examining the impact of foreign direct  investment (FDI) and other macroeconomic variables on  agricultural growth in Nigeria from 1981 to 2014, using  annual time series data from Central Bank of Nigeria (CBN),  World Bank and the United States of America (US) Federal  Reserve System. Data was analysed using trend analyses,  unit root tests, co-integration tests, ordinary least  squares (OLS) regression and Granger causality tests, while  the hypothesis was tested with F-test. Results revealed  very low FDI inflow into agriculture, not commensurate with  the share of agriculture to GDP. All significance were  taken at the 5% probability level, i.e. p<0.05. There was  positive non-significant relationship between agricultural  growth and FDI in agriculture, meaning that FDI in  agriculture has no direct impact on agricultural growth or  the impact on agricultural growth is masked by other  macroeconomic variables. Significant positive relationship  exists between agricultural growth and macroeconomic  instability, while interest rate differential had a  significant negative relationship. There was unidirectional  causality running from FDI in agriculture, stock of gross  external debts, and variability of consumers’ price index  to agricultural growth, while agricultural growth was  significant in granger causing macroeconomic instability.  Recommendations are government should not involve itself in  business, but seek for and encourage more FDI for the  agricultural sector, encourage joint ventures between  foreign and domestic investors/entrepreneurs, ensure  stability and consistency in its macroeconomic policies,  while monetary policy rates should be fixed in such a way  that it would attract the right amount of investments in  agriculture. },
      url = {http://ageconsearch.umn.edu/record/281186},
      doi = {https://doi.org/10.22004/ag.econ.281186},
}