Taxation, exchange rateand foreign directinvestment in Nigeria
2019
This paper investigates factors that may impact foreign direct investment in Nigeria. It
seeks to establish the role of taxation (corporate tax) for foreign direct investment in
Nigeria. Annual time series data derived from the Central Bank of Nigeria statistical
bulletin and the United Nations Conference on Trade and Development covering a
period of 31 years (1985–2015) were used for this study. The variables considered in
the study include FDI, corporate tax, exchange rate, inflation rate, real gross domestic
product (RGDP). They were analyzed using Ordinary Least Squares (OLS), Johansen
Co-Integration model and Unit Root Test. Findings from this research observed that
a negative relationship exists between corporate taxation and FDI. Also, the study observed
that corporate tax have a significant impact on FDI and there exists a long-run
relationship between the two variables.
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