Osunkwo, F.O. Chinyere and Uguru, Ndubuisi Eme and Okpara, Roy Maduabuchi and Udo, Ngwobia Ebubechukwu and Orji, Uche Okoro (2024) Investigating the Nexus Between Capital Flight and Private Savings in Nigeria. European Journal of Accounting, Auditing and Finance Research, 12 (8). pp. 57-72. ISSN 2053-4086(Print), 2053-4094(Online)
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Abstract
The Nigerian government has been grappling with the detrimental effects of capital flight. Given the country's low level of development, extreme economic uncertainties, and limited savings and domestic investment, the outflow of resources demands urgent attention. This study investigated the impact of capital flight on private savings in Nigeria, utilizing the World Bank residual approach to measure capital flight and analyzing data from 1981 to 2020, sourced from the CBN statistical bulletin and World Bank Development Indicator (WDI). The Autoregressive Distributed Lag (ARDL) bounds test approach was employed for the analysis. The findings revealed that capital flight adversely affects private savings in Nigeria. Consequently, the study recommends implementing appropriate monetary policy measures to minimize capital flight and enhance savings in the country.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Depositing User: | Professor Mark T. Owen |
| Date Deposited: | 29 Aug 2024 13:42 |
| Last Modified: | 29 Aug 2024 13:42 |
| URI: | https://tudr.org/id/eprint/3327 |
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