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An Appraisal of the Impact of the Global Financial Crisis on the Nigerian Economy
Content Structure of An Appraisal of the Impact of the Global Financial Crisis on the Nigerian Economy
- The abstract contains the research problem, the objectives, methodology, results, and recommendations
- Chapter one of this thesis or project materials contains the background to the study, the research problem, the research questions, research objectives, research hypotheses, significance of the study, the scope of the study, organization of the study, and the operational definition of terms.
- Chapter two contains relevant literature on the issue under investigation. The chapter is divided into five parts which are the conceptual review, theoretical review, empirical review, conceptual framework, and gaps in research
- Chapter three contains the research design, study area, population, sample size and sampling technique, validity, reliability, source of data, operationalization of variables, research models, and data analysis method
- Chapter four contains the data analysis and the discussion of the findings
- Chapter five contains the summary of findings, conclusions, recommendations, contributions to knowledge, and recommendations for further studies.
- References: The references are in APA
- Questionnaire.
Abstract of An Appraisal of the Impact of the Global Financial Crisis on the Nigerian Economy
The world economy is facing the most severe financial crisis since the Great Depression of the last century. The risk of global recession has heightened significantly and volatility of commodity prices, which is the mainstay of most developing countries like Nigeria, has increased further. If this situation continues to deteriorate, developing countries could be in great jeopardy.
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Time series data relating to the period 1990-2008 were collected and analysed accordingly, using the econometric technique of multiple regression. Statistical tests of significance were also carried out in order to determine the possible impacts of the current global financial crisis on the Nigerian economy. The tests include: Correlation Coefficient (R); Coefficient of Multiple Determination (R2); t–Test; F-statistic and Durbin-Watson test.
The findings of this study revealed that the financial crisis was responsible for the fluctuation in crude oil prices, external reserves, exchange rates, decline in export, lower portfolio and foreign direct investment (FDI) inflow, fall in equity market, decline in remittance from abroad, dwindling economic growth, etc.
It was concluded that the Federal Government should come up with intervention policies that will minimise these effects and jumpstart the economy and that business operators should learn to do things using resources at their disposal to develop and expand at manageable level to stem the tide of the crisis.
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