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VOL. 10, ISSUE 1 (2024)
Illicit financial flow, capital flight and nigeria’s economic growth performance
Authors
ARDL, economic growth, insignificant
Abstract
This study investigates the effect of capital
flight on economic growth in Nigeria over the period of 1980-2021. Relying on
the autoregressive distributed lag (ARDL) regression estimation framework, the
result reveals an overall negative and statitically significant effect of
capital flight on economic growth. The short-run ARDL estimates revealed that
capital flight exerted a positive but insignificant short-run effect on
economic growth. The error correction term (-0.788) indicates that 78.8% of the
instability in the model is corrected annually. Given the findings, the study recommended
that there is need to propel domestic investment via promotion of domestic
enterprises. Of utmost significance is the establishment of supporting business
environment.
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Pages:52-61
How to cite this article:
ARDL, economic growth, insignificant "Illicit financial flow, capital flight and nigeria’s economic growth performance". International Journal of Commerce and Management Research, Vol 10, Issue 1, 2024, Pages 52-61
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