Globalization and Economic Growth in Nigeria: ...

The research work is on globalization and economic growth in Nigeria: Any nexus?. The study adopts descriptive statistics, regression analysis and correlation analysis on the macro economic variables. The objectives of the study are to: describe the trend of macroeconomic variable; examine the impact of globalization on economic growth of Nigeria; to determine the relationship between foreign direct investment, inflation and exchange rate; relationship between trade openness and exchange rate, Inflation and dummy (structural change) variable; estimates the factors contributing significantly to the economic growth in Nigeria and to proffer policy recommendation on how globalization can further enhance the economic development of Nigeria. The result shows that interest rate has been fluctuating with respect to the years under review, The result further revealed that, Inflation is a significant variable contributing to economic growth (proxied by RGDP), inflation and exchange rate shows a negative relationship but significant at 5 percent level of probability and inflation is the only significant variable having positive relationship with the foreign direct investment in the model. Based on research findings, the study concluded that inflation plays a significant factor if the economy is to enhance economic growth in the world economy. The study therefore recommended that fiscal and monetary policies should be given priority to with a view to enhancing economic growth through globalization.