International Journal of Social Science & Economic Research
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Title:
THE GROWTH IMPACT OF CAPITAL FLIGHT IN NIGERIA

Authors:
OLADIMEJI, J. Abiodun , ADEBAYO, O. Olasunkanmi , and OHIAERI, N. Victoria

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OLADIMEJI, J. Abiodun1 , ADEBAYO, O. Olasunkanmi2 , and OHIAERI, N. Victoria3
1. Lecturer, Department of Finance, University of Lagos, Nigeria
2. Postgraduate Student, Department of Finance, University of Lagos, Nigeria
3. Lecturer, Department of Finance, University of Lagos, Nigeria

MLA 8
Abiodun, OLADIMEJI, J., et al. "THE GROWTH IMPACT OF CAPITAL FLIGHT IN NIGERIA." Int. j. of Social Science and Economic Research, vol. 7, no. 3, Mar. 2022, pp. 694-715, doi.org/10.46609/IJSSER.2022.v07i03.013. Accessed Mar. 2022.
APA 6
Abiodun, O., Olasunkanmi, A., & Victoria, O. (2022, March). THE GROWTH IMPACT OF CAPITAL FLIGHT IN NIGERIA. Int. j. of Social Science and Economic Research, 7(3), 694-715. Retrieved from doi.org/10.46609/IJSSER.2022.v07i03.013
Chicago
Abiodun, OLADIMEJI, J., ADEBAYO, O. Olasunkanmi, and OHIAERI, N. Victoria. "THE GROWTH IMPACT OF CAPITAL FLIGHT IN NIGERIA." Int. j. of Social Science and Economic Research 7, no. 3 (March 2022), 694-715. Accessed March, 2022. doi.org/10.46609/IJSSER.2022.v07i03.013.

References

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ABSTRACT:
This study investigates the impact of capital flight on the economic growth in Nigeria over the period of 1980-2019 using annual time series data. The research employed the ordinary least square (OLS) analysis approach for estimation. The research findings showed that capital flight has significant negative impact on the growth rate (GDP) in Nigeria. It also revealed that gross capital formation (GCF) and foreign direct investment are variables influencing economic growth positively in Nigeria. Consequently, the study recommends the need for policies which stimulate growth and reduce flight of capital through deliberate and committed alliance of governments of all nations with anti-graft agencies to block avenues to launder money abroad. Also, there is need for sound domestic macroeconomic policy that will give investors the opportunities to operate in a conducive and profitable environment while government should take urgent and sustainable steps to improve security of life and property in Nigeria because insecurity is a threat to investment and business space that has been referred to as engine of growth.

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