Impact of International Trade and Foreign Direct Investment on Economic Growth: The Nigerian Perspective

Abstract

The issues on the international trade and economic growth are of interest not only to policy makers. But also to academicians. This is because international trade serves as means of getting the revenue for running the activities in the country, opportunity to develop international relation with other countries and Nigeria is not an exception. Therefore, the research on the topic is very important at the moment, which contributed to the body of knowledge and also serves as working tool for the practitioner/Government on to how improve the revenue generation of Nigeria. The objective of the study was to examine the impact of international trade on economic growth of Nigeria at long run and short run. The data was collected using secondary source from Central Bank of Nigeria (CBN) statistical bulletin for various years. Autoregressive Distributive Lag (ARDL) was used as estimation techniques of the study. It was found that export has insignificant impact on economic growth of Nigeria at long run among others. It is recommended that authorities concern shall device a means on improving the level of Nigerian export from all sectors of the economy.