Authors : O. Ogwumike Fidelis and E. Maku Olukayode
Abstract: Globalisation as a process is not only limited to economic perceptive rather it has profoundly shaped the political, social, economic technological and cultural landscapes at individual, family, community, local, national, regional, international and transnational levels. The current globalisation waves in all its dimensions have been identified as a major factor affecting the economic growth of both developed and developing economies. This study is meant to examine the impacts of individual dimensions of globalisation as well as its aggregate impact on the economic growth of Nigeria between 1970 and 2010. Using multiple regression analysis the results revealed that both economic and political globalization indices exert positive impacts on globalisation while social globalisation index exerts a negative impact dimension and indices of globalisation are based on the KOF 2009 globalization index. Hence, the aggregate impact of the indices (dimensions) exerts positive impacts on economic growth. The Augmented Dickey-Fuller (ADF) unit root test conducted to test for the stationarity of the time series. The study reports the differential effect of dimensions of globalization on economic growth and proper policy recommendations were proffered based on the empirical findings.
O. Ogwumike Fidelis and E. Maku Olukayode, 2012. Globalisation and Economic Growth in Nigeria: A Multi-Dimensional Analysis. Pakistan Journal of Social Sciences, 9: 89-95.