International records / OpenAlex research

External Financing and Industrial Growth in Nigeria

This study examined the potential of external financing in spurring industrial growth in Nigeria within the period of 1985-2018. The study used Industrial Output (INDO), External Loans (EXL), Foreign Direct Investment (FDI), Remittances (RIMT), Gross Fixed Capital Formation (GFCF), Industrial Energy Consumption (IEC) and Contract Intensive Money (CIM) as variables in estimating the relationship. The study hinged on Great Big Push Theory and Kaldor’s First Law and adopted the Autoregressive Distributive Lagged (ARDL) bound approach as the estimation technique. The findings revealed that, a posi…