International records / OpenAlex research

Impact of Capital Flight on Gross Fixed Capital Formation in Nigeria

Capital flight remains a controversial issue which its impact yields no good to any economy in which it is taking place. The main aim of the study was to investigate the nature of the relationship existing between capital flight and gross fixed capital formation in Nigeria. We used the World Bank residual approach to measure capital flight. Data from 1981 to 2020 was sourced from Central Bank of Nigeria Statistical Bulletin. The study relied on an autoregressive distributed lag model for analysis. Our empirical analysis revealed that a negative relationship exists between gross fixed capital f…