IMPACT OF GLOB ALIZATION ON INDUSTRIAL GROWTH IN NIGERIA A PROJECT SUBMITTED IN PARTIAL FUFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCES (BSC) DEGREE OF ECONOMICS
Abstract
The study interrogated the contribution of globalization to industrial development in Nigeria by relying on the sample data between the year 1990 and 2022. It managed to estimate the effect of economic globalization, cultural globalization and political globalization on industrial output based on a multiple regression model. The unit root test indicated that the variables were non-stationary; however, there was an existence of long-run equilibrium relationship as identified through the co integration test. The ordinary least squares technique was, therefore, used in estimating the short-run error correction model and the findings indicate that economic, cultural, and political globalization has a good effect on industrial growth. In the meantime, interest rate and exchange rate had negative (but not statistically significant) correlations with industrial growth and capital formation had a positive (but not significant) effect.
In a bid to support industrial growth in relation to the globalization policy, the report recommended the adoption of favorable policies on trade liberalization, integrate cultures, stimulate collaboration, and sustain macroeconomic performance.
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