期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2021
卷号：11
期号：1
页码：213-232
DOI：10.6007/IJARBSS/v11-i1/8466
语种：English
出版社：Human Resource Management Academic Research Society
摘要：The prevalent issue of volatility of exchange rate and dearth of foreign direct investment among businesses necessitated this study. Thus, this research study extensively investigated exchange rate on foreign direct investment in Nigeria 1981-2018. The study adopted secondary time series data obtained, from Central Bank of Nigeria and federal office of statistics. Diagnostic test was conducted to ensure that the models are in line with basic econometric assumptions. Unit Root Test, stationarity test, multi-collinearity, Co-integration Relationship, Error Correction Model (ECM) were applied to avoid spurious result. The granger causality test was applied to examine the effect of the independent variable on the dependent variable. The findings revealed that both real exchange rate and nominal exchange rate are positively related with foreign direct investment. The study recommends that the CBN should ensure adequate flow of forex in the foreign exchange market and ensure a sustained/stable exchange rate level which will serve as attraction of foreign investors for increased inflow of foreign direct investment.
