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Foreign Direct Investment and Industrial Sector Performance: Assessing the Long-Run Implication on Economic Growth in Nigeria

This paper aimed at examining the impact of Foreign Direct Investment (FDI) and Industrial Sector Performance on economic growth in Nigeria. This study utilized annual time series data for the period 1981-2015 using elaborate econometric analysis which tests the sensitivity of GDP to shocks in FDI and Industrial Sector Output, using the Impulse Response Functions (IRFs) and Variance Decomposition (VDC) techniques within a Vector Autoregressive (VAR) framework. The Johansen Cointegration test result reveals the absence of a long-run relationship between FDI, Industrial Sector Output and GDP. Th…

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