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Impact Of Globalization In Nigeria

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The review looks at the impact of globalization on the financial execution of creating countries with specific reference to Nigeria. The review utilizes the Ordinary Least Square (OLS) technique to dissect the model embraced, in which Gross Domestic Product is utilized as an intermediary to quantify monetary execution, and relies on upon the level of openness, conversion scale, and outside direct venture which are records of globalization. Yearly time arrangement information was gathered from the Central Bank of Nigeria (CBN) Statistical Bulletin from 1980 to 2010. The review uncovered that globalization has a noteworthy positive effect on the financial execution/development of Nigeria. It suggests that the legislature ought to consistently …show more content…
The need for the assessment is based on the plethora of arguments that have evolved on the concept over the years and the fact that the few studies on the topic in Nigeria have not reach a consensus on its effects see (Obaseki, 2000; Okey, 2005; Feridun, Olusi and Folorunso, 2006, Folorunsho, 2006; Loto, 2011, and Akor, Yongu and Akorga, 2012) to mention but a few. Therefore, there is the need for further …show more content…
For a more detailed definition, "globalization refers to the increasing importance of international trade, international relations, treaties and alliance. International here means between nations. The core element remains the nation even as relations among other countries become increasingly necessary and important" (Daly, 1999, p.1). To be specific and to reveal the first similarities in this topic, it seems appropriate to include the following estimations. "While much of this process entails economic collaboration it also embraces national, political and ideological relations" (Howlett & Ramesh, 2006, p.175). "It is often used to explain the development of underdeveloped countries because it is assumed to help economic growth" (Wohlmuth, 2001, p.20). However, this last statement is not always true as Wohlmuth (2001) he explains in his book that weaker States are often hindered in their growth because of the effects of

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