Capital Flight and the Economic Growth: Evidence from Nigeria

Adedoyin I. Lawal; Kelechi Promise Kazi; Johnson Olabode Adeoti; Osagie Godswill Osuma; Sunday O. Akinmulegun; Bamidele Ilo

doi:10.21512/bbr.v8i2.2090

Authors

Adedoyin I. Lawal Landmark University
Kelechi Promise Kazi Dept. of Accounting and Finance, Landmark University
Johnson Olabode Adeoti University of Ilorin, Ilorin
Osagie Godswill Osuma Covenant University, Ota
Sunday O. Akinmulegun Dept. of Banking and Finance, Adekunle Ajasin University, Akungba
Bamidele Ilo Dept. of Accounting, Banking and Finance, Olabisi Onabanjo University, Ago Iwoye

DOI:

https://doi.org/10.21512/bbr.v8i2.2090

Keywords:

economic growth, capital flight, Nigerian economy, Autoregressive Distributed Lag model

Abstract

This research examined the impact of capital flight and its determinants on the Nigerian economy using the Autoregressive Distributed Lag (ARDL) model to analyze data source from the period of 1981 to 2015. The variables included current account balance, capital flight, foreign direct investments, foreign reserve, inflation rate, external debt, and the real gross domestic product. It was to examine the existence of a long run relationship among the variables studied. The result indicates that capital flight has a negative impact on the economic growth of Nigeria. Therefore, there is a need for government to implement policies that will promote domestic investment and discourage capital flight from Nigeria.

Dimensions

Plum Analytics

Author Biographies

Adedoyin I. Lawal, Landmark University

Dept. of Accounting and Finance

Kelechi Promise Kazi, Dept. of Accounting and Finance, Landmark University

Graduate Student

Johnson Olabode Adeoti, University of Ilorin, Ilorin

Business Administration and Senior Lecturer

Osagie Godswill Osuma, Covenant University, Ota

Graduate Student

Sunday O. Akinmulegun, Dept. of Banking and Finance, Adekunle Ajasin University, Akungba

Associate Professor

Bamidele Ilo, Dept. of Accounting, Banking and Finance, Olabisi Onabanjo University, Ago Iwoye

Senior Lecturer

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