hrcak mascot   Srce   HID

Izvorni znanstveni članak
https://doi.org/10.32728/ric.2017.31/2

DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN NIGERIA: A MARKOV REGIME-SWITCHING APPROACH

Akinlo A. Enisan   ORCID icon orcid.org/0000-0002-3013-0186 ; Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria

Puni tekst: engleski, pdf (401 KB) str. 21-48 preuzimanja: 2.413* citiraj
APA 6th Edition
Enisan, A.A. (2017). DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN NIGERIA: A MARKOV REGIME-SWITCHING APPROACH. Review of Innovation and Competitiveness, 3 (1), 21-48. https://doi.org/10.32728/ric.2017.31/2
MLA 8th Edition
Enisan, Akinlo A.. "DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN NIGERIA: A MARKOV REGIME-SWITCHING APPROACH." Review of Innovation and Competitiveness, vol. 3, br. 1, 2017, str. 21-48. https://doi.org/10.32728/ric.2017.31/2. Citirano 06.05.2021.
Chicago 17th Edition
Enisan, Akinlo A.. "DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN NIGERIA: A MARKOV REGIME-SWITCHING APPROACH." Review of Innovation and Competitiveness 3, br. 1 (2017): 21-48. https://doi.org/10.32728/ric.2017.31/2
Harvard
Enisan, A.A. (2017). 'DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN NIGERIA: A MARKOV REGIME-SWITCHING APPROACH', Review of Innovation and Competitiveness, 3(1), str. 21-48. https://doi.org/10.32728/ric.2017.31/2
Vancouver
Enisan AA. DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN NIGERIA: A MARKOV REGIME-SWITCHING APPROACH. Review of Innovation and Competitiveness [Internet]. 2017 [pristupljeno 06.05.2021.];3(1):21-48. https://doi.org/10.32728/ric.2017.31/2
IEEE
A.A. Enisan, "DETERMINANTS OF FOREIGN DIRECT INVESTMENT IN NIGERIA: A MARKOV REGIME-SWITCHING APPROACH", Review of Innovation and Competitiveness, vol.3, br. 1, str. 21-48, 2017. [Online]. https://doi.org/10.32728/ric.2017.31/2

Sažetak
Several studies have analyzed the movement of foreign direct investment in Nigeria using linear approach. In contrast with all existing studies in Nigeria, this paper runs several non linear FDI equations where the main determinants of FDI are determined using Markov- Regime Switching Model (MSMs). The approach enables us to observe structural changes, where exist, in FDI equations through time. Asides, where FDI regression equation is truly nonlinear, MSMs fit data better than the linear models. The paper adopts maximum likelihood methodology of Markov-Regime Model (MSM) to identify possible structural changes in level and/or trends and possible changes in parameters of independent variables through the transition probabilities. The results show that FDI process in Nigeria is governed by two different regimes and a shift from one regime to another regime depends on transition probabilities. The results show that the main determinants of FDI are GDP growth, macro instability,
financial development, exchange rate, inflation and discount rate. This implies liberalization that stems inflation and enhance the value of domestic currency will attract more FDI into the country.

Ključne riječi
FDI; Markov-Regime Switching Model; Nigeria

Hrčak ID: 181074

URI
https://hrcak.srce.hr/181074

Posjeta: 2.725 *