Capital flight and poverty in Nigeria
Author(s): Abdullahi Mohammed Lawal; Bassey Etim Essien
Institute(s): 1 Department of Arts and Social Sciences, Waziri Umaru Federal Polythecnic Birnin Kebbi; 2 Department of Economics, University of Calabar, Calabar
Volume 2024 / Issue 2
Abstract
This paper examined effect of capital flight on poverty in Nigeria. Capital flight is generally seen as having adverse and enormous effect poverty. Capital flight suggests a cross movement of capital from one country to another. It has both legal and illegal manifestations. The Study adopted a quantitative method of data collections and used ex-post facto research design in estimating the causal relationship between capital flight and poverty. The autoregressive distributed lag (ARDL) method was used as an estimation technique. Dependency theory was utilized to guide the direction of study. The paper concluded that capital flight has a positive but not statistically significant impact on poverty as measured by misery index in Nigeria. The paper recommends that Federal Government encourages technological acquisition digital system and a specialized department to monitor capital flight of foreign investors at the same time encouraging the local content through industrialization as that will no doubt helps in wealth creation and generate employment which will result in reducing the level of poverty in Nigeria.
Number of Pages: 8
Number of Words: 4178
First Page: 107
Last Page: 114