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Investigating the Interaction between Foreign Direct Investment and Human Capital on Growth: Evidence from Nigeria

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Author(s): Onyeagu Augustina Nkechi | Okeiyika Kenechukwu Okezie

Journal: Asian Economic and Financial Review
ISSN 2305-2147

Volume: 3;
Issue: 9;
Start page: 1134;
Date: 2013;
Original page

Keywords: Human capital | Foreign Direct Investment

ABSTRACT
The objectives of this study is to empirically examine the relationship between FDI, HCD and Economic growth in Nigeria and to ascertain the long run sustainability of FDI- induced growth process..Our result show that FDI in Nigeria, has a negatively significant to growth in the long run, meaning that the contribution of FDI in to Nigeria are small in the long run. The negative significant effects of human capital in Nigeria, with overall growth in the long run, suggest that there is shortage of skilled labour in the country. The ECM coefficient is -0.13 and its not significant, meaning that the speed to adjust towards equilibrium is not in moderate condition. The R2 (0.9930) and adjusted R2 (0.9816) is very high and this fulfill the condition of goodness of fit. The F-statistics 86.9792(0.0000) is highly significant at 1% critical level, this show that there is significant relationship between the dependent variable and independent variables. The Normality test show that the residual is normally distributed (Jaqua-Bera statistics = 0.4755(0.7884).We recommend that appropriate policy should be made to improve on the development of human capital in other to benefit more from the presence of foreign investors in to Nigeria.,
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