International Journal of Quantitative and Qualitative Research Methods (IJQQRM)

EA Journals

economic growth

Financial Inclusion and Nigerian Economic Growth: An Empirical Investigation (2001-2021) (Published)

The aim of this study was to determine the impact of financial inclusion on economic growth in Nigeria. the study used an ex-post facto research design and investigated variables such as credit to the private sector (CPS), ATM transactions(ATM), and gross domestic product (GDP) as indicator variables for financial inclusion and economic growth, respectively. The Statistical Bulletin of the Central Bank of Nigeria, provided the annual time series statistics on private credit, ATM usage, and GDP from 2001 – 2021. Using the ordinary least square (OLS) approach, the data were examined. The study established credit to the private sector is positively related to economic growth and is statistically significant, However, ATM transactions have a positive and statistically insignificant relationship with economic growth in Nigeria The study suggests that monetary authorities implement measures to promote and increase the availability of credit to the private sector. r e.g., through reducing interest rates to levels that are conducive to growth objectives as this will favor economic development.

Keywords: Financial Inclusion, Nigeria, OLS, economic growth

An Empirical Evaluation of the Effect of Foreign Investment Inflows on Economic Growth in Nigeria (Published)

This study examined the effect of foreign investment inflows on economic growth of Nigeria, using secondary data for the period 2001 to 2018. The study adopted gross domestic product as the indicator of economic growth and the dependent variable, while foreign direct investment, foreign portfolio investment and exchange rate were used as explanatory variables. The data on the study variables covering the period 2001 to 2018 were collected from the CBN Statistical Bulletin. The study employed descriptive statistics and multiple regression analysis technique based on the E-view computer software for analyzing data. The results of analysis revealed that foreign direct investment, foreign portfolio investment and exchange rate had significant positive influence on gross domestic product. Based on the results of the empirical analysis, the study concluded that foreign investment inflows have made the desired positive impact on the growth of the Nigerian economy. However, a lot still need to be done to create conducive investment climate to attract sufficient amount of foreign investors into the productive sectors of the Nigerian economy. The study recommended that the regulatory authorities should formulate policies and create the enabling environment to attract foreign investments into Nigeria.

Keywords: Direct, Exchange Rate, Foreign, Investment, Portfolio, economic growth, inflows

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