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This study analyses the impact of foreign direct investment on economic growth in Nigeria using data for 32 years, from 1985-2016. The OLS estimation and the Johansen cointegration test were the key techniques of analysis employed. The results indicate that foreign direct investment has no positive impact on the Nigerian economic growth. Trade openness and exchange rate, however, have positive but insignificant influence on economic growth. The cointegration test result revealed that there is evidence of a long-run relationship between foreign direct investment and economic growth. The paper thus recommends that there is need for in-depth investigation of economic and institutional forces that determine the composition of FDI inflows to developing countries and to work towards improving such forces. Moreover, government should also take measures in order to stabilize the exchange rate system that may attract foreign investors in the country, and also liberalize the trade policy to attract foreign investors to the country. JEL: E22, F21, G11

This study analyses the impact of foreign direct investment on economic growth in Nigeria using data for 32 years, from 1985-2016. The OLS estimation and the Johansen cointegration test were the key techniques of analysis employed. The results indicate that foreign direct investment has no positive impact on the Nigerian economic growth. Trade openness and exchange rate, however, have positive but insignificant influence on economic growth. The cointegration test result revealed that there is evidence of a long-run relationship between foreign direct investment and economic growth. The paper thus recommends that there is need for in-depth investigation of economic and institutional forces that determine the composition of FDI inflows to developing countries and to work towards improving such forces. Moreover, government should also take measures in order to stabilize the exchange rate system that may attract foreign investors in the country, and also liberalize the trade policy to attract foreign investors to the country. JEL: E22, F21, G11 Article visualizations:

AbstractThis paper examines the asymmetric link between carbon pricing and the comparative advantage in environmental goods exports in South Africa from 1995 to 2021. The non‐linear autoregressive distributed lag model is utilized to investigate the effects of both minor and major positive and negative fluctuations in carbon taxes, technological innovation, and energy transition on comparative advantage. The results reveal that carbon taxes have an asymmetric effect on comparative advantage in both the short and long runs, with positive shocks exerting a greater beneficial influence than negative shocks. Specifically, it is found that a 1% reduction in carbon taxes corresponds to a 1.24% decline in the response variable, whereas a 1% increase in carbon taxes is associated with a 2.72% increase in comparative advantage in environmental goods exports, which is twice as large. The study also uncovers evidence of an asymmetric relationship between low‐carbon technological innovation and comparative advantage in environmental goods exports. However, strong evidence of a long‐run asymmetric linkage between the energy transition and comparative advantage is not established. Nevertheless, it is noteworthy that a positive shift in energy transition is linked with a 0.32% rise in comparative advantage in environmental goods exports, whereas a negative shift in energy transition corresponds to a 0.11% decrease. The practical policy implications are also discussed.