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The study investigates the effects of globalization on economic growth in Nigeria, focusing specifically on the influence of financial globalization and trade globalization. It employs annual time series data from 1981 to 2022, analyzed using the Ordinary Least Squares (OLS) method. The findings reveal that both financial and trade globalization significantly and positively impact real GDP growth. Additionally, the study finds that total government expenditure has a positive but insignificant effect on real GDP growth, whereas the population growth rate has a negative but insignificant effect. Moreover, credit extended by banks to the private sector shows a positive and significant impact on real GDP growth. To fully harness the benefits of globalization while mitigating potential risks, policymakers should address issues such as capital volatility, financial instability, and the harmonization of regulations.
Amaegberi et al. (Fri,) studied this question.