The disappointing economic performance of Nigerian, Ghanaian, and the Togolese economies, coupled with the globalization of activities in the world economy, have forced them to look outward for development strategies. Many studies have been attempted to estimate the impact of natural resources on foreign direct investment (FDI) inflows around the world, but very few have been focused on Ghana, Nigeria and Togo. This study departed from previous studies and employed a gravity-type framework to explicitly explore the question of whether natural resource endowments was a more relevant factor that explained the FDI’s attraction to the countries under study. The study also included other FDI determinants. Accordingly, this study served to investigate whether natural resources attracted FDI inflows in Ghana, Nigeria, and Togo. Using time series data from 1980–2015, the study was conducted to answer two research questions. Two models were established utilizing the pooled ordinary least square method to estimate the coefficients of the models. Preliminary results were obtained using both the random effect and fixed effect models. The results of the study yielded by both techniques registered natural resources to be significant as a driven factor for FDI inflows to the countries under review. Other factors such as GDP per capita, trade openness, political stability, and economic liberalization were also found to be significant in FDI determination.
|Commitee:||LUO-BEITER, YAN, OWUSU, THEOPHILUS|
|School Location:||United States -- Florida|
|Source:||DAI-A 79/12(E), Dissertation Abstracts International|
|Subjects:||Business administration, Natural Resource Management, International Relations|
|Keywords:||Dunning’s OLI, FDI inflows, Multinational corporation, Natural resources|
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