MA 35 Causal Effect of Trade Openness on Multinational Corporations in Oil and Gas Investment in Nigeria. Journal of Business and Economic Management

Causal Effect of Trade Openness on Multinational Corporations in Oil and Gas Investment in Nigeria

Akyuz, Murat, 
Opusunju, Michael. I.,
Aruwa, Suleiman. A.

ABSTRACT
The study examined the causal effect of trade openness on multinational corporations in oil and gas investment in Nigeria. As a result, ex-post facto research design and the population of 5 oil and gas multinational corporations in Nigeria were used. The sample size was the 5 oil and gas multinational corporations. The study relied on reports from Central Bank of Nigeria for secondary data. It was employed various procedures in analysing data such as descriptive statistics correlation matrix, unit root test, co-integration and Vector Error Correction Model. The study showed that a long run relationship exist between multinational corporations in Oil and Gas (FDI) and trade openness in Nigeria. The study also found that causality runs from trade openness (TO) to FDIOG which implies that trade openness causes increase in the inflow of multinational corporations (FDI) in Oil and Gas sector. Therefore, it can be suggested that government should continue to adopt trade openness policy because it ensures greater opportunity to earn more foreign exchange through inflow of multinational corporations (FDI). Also, government should embark on continuously and trade openness policies formulation in order to accelerate and sustain the inflow of multinational corporations (FDI) in Nigeria.

Key words: Multinational corporations, foreign direct investment, trade openness, corruption and exchange rate.

Akyuz, M., Opusunju, M. I., & Aruwa, S. A. (2019, December 6). Causal Effect of Trade Openness on Multinational Corporations in Oil and Gas Investment in Nigeria. Journal of Business and Economic Management, 7(12), 403-411. doi:DOI: 10.15413/jbem.2019.0132

https://drive.google.com/open?id=1Vizva32LkAUDU_hk0AV9hKrPKdX2GW6N 

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