INTERACTIVE EFFECTS OF MIGRANT REMITTANCES AND GROSS FIXED CAPITAL FORMATION ON ECONOMIC GROWTH IN NIGERIA

Συγγραφείς

  • Olabode Eric Olabisi Department of Economic, Elizade University, Ilara-Mokin, Nigeria
  • Kemi Funlayo Akeju Department of Economics, Ekiti State University, Ado-Ekiti, Ekiti State, Nigeria

DOI:

https://doi.org/10.46827/ejefr.v9i2.1968

Λέξεις-κλειδιά:

FMOLS, migrant remittances, gross fixed capital formation, economic growth

Περίληψη

The previous studies in the relationship between inflows of migrant remittances, gross fixed capital formation, and economic growth in the literature have increased the mixed empirical outcomes in the field of economics. However, very little attention has been given to the interactive effect of migrant remittances and gross fixed capital formation on economic growth, especially in the case of Nigeria. As such, this study mainly examined the long-run interactive effect of migrant remittances and gross fixed capital formation on the economic growth in Nigeria over the period of 1990 to 2023 in a multivariate framework. To avoid spurious results, the study tested the stationarity properties of the variables with the Autoregressive Dickey Fuller (ADF) and Phillips Perron (PP) methods that allow for more complex models in the regression equation. Next, the Autoregressive Distributed Lags Model (ARDL) bounds co-integration test was used to examine the extent of the long-run relationship among the variables used in the study. Also, the econometric technique of Fully Modified Ordinary Least Squares (FMOLS) was used to investigate the coefficients of the explanatory variables on economic growth. Findings show that both migrant remittances and gross fixed capital formation promote the economic growth of Nigeria.

 

JEL: O40, O49, F30

 

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Βιογραφικά Συγγραφέων

  • Olabode Eric Olabisi, Department of Economic, Elizade University, Ilara-Mokin, Nigeria

    Dr. Olabode Eric Olabisi holds a PhD in Economics from the University of Malaysia (UNIMAS), Sarawak, Malaysia; he lectures at Elizade University. He has also completed a Bachelor of Science (B.Sc.) in Economics and a Master’s of Science (M.Sc.) in Economics at the University of Ado-Ekiti, Ado-Ekiti, Nigeria (now Ekiti State University) and the University of Lagos, Akoka, Nigeria. Additionally, he obtained a Masters of Business Administration (MBA) in Financial Management from Ladoke Akintola University, Ogbomosho, Oyo State, Nigeria. Dr. Olabisi has been the Head of the Economics Department at Elizade University, Nigeria, from 2020 to date. Dr. Olabisi has authored numerous articles published in prestigious, high-impact peer-reviewed journals worldwide, and his areas of research interest include economic growth and development, international economics and finance, applied econometrics, energy economics and financial economics. His ORCID account is 0000-0002-1624-3344, and his published papers are also available on ResearchGate and other academic networks.

  • Kemi Funlayo Akeju, Department of Economics, Ekiti State University, Ado-Ekiti, Ekiti State, Nigeria

    Dr. Kemi Funlayo Akeju holds a PhD in Economics from Ekiti State University (EKSU), Ado-Ekiti, Nigeria; she lectures at Ekiti State University. She has also completed a Bachelor of Science (B.Sc.) in Economics and a master of Science (M.Sc.) in Economics at the University of Ado-Ekiti, Ado-Ekiti, Nigeria (now Ekiti State University). Additionally, Dr. Akeju was the Head of the Economics Department and Sub Dean of the Faculty of the Social Sciences at Ekiti State University, Ado-Ekiti, Nigeria, between August 2022 and July 2024 and August 2018 and July 2020, respectively. Dr. Akeju has authored numerous articles published in prestigious, high-impact peer-reviewed journals worldwide, and her areas of research interest include economic growth and development, international economics and finance, and financial economics. Her ORCID account is 0000-0002-1719-4388, and her published papers are also available on ResearchGate and other academic networks.

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Δημοσιευμένα

2025-06-19

Τεύχος

Τόμ. 9 Αρ. 2 (2025)

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