CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Some recent studies have found cross-country evidence supporting the view that long -term growth is adversely affected by inflation (Kormendi and Meguire 1985; Fischer 1983, 1991, 1993; De Gregorio 1993; Gylfason 1991; Roubini and Sala-i-Martin 1992; Grier and Tullock 1989; Levine and Zervos 1992). Countries (especially in … Read more
CHAPTER ONE INTRODUCTION BACKGROUND TO THE STUDY Globalization is the process through which economies, societies and cultures relate through trade, transportation and communication. Economic theory clearly points to the tremendous potential advantages of cross-border capital flows.Neoclassical economists support the view that capital flow is beneficial because they create new resources for capital accumulation … Read more
CHAPTER ONE INTRODUCTION 1.1 Background of Study The effect of fiscal policy instruments on growth and development with taxation playing a central role is perhaps the oldest, most studied, and most controversial topic in economics. The effect of corporate taxes on private sector investment is one of the central questions in both public finance and … Read more
ABSTRACT Generally, policies and strategies of Nigerian government towards Foreign Direct Investments are shaped by two principal objectives of desire for economic independence and the demand for economic development. Multinational corporations are expected to bring into Nigeria, foreign capital in the form of technical skills, entrepreneurship, technology and investment fund to best economic activities thereby, … Read more