This study is meant to investigate the impact of globalization on economic growth, also the influence of globalization on the Nigerian economy. It is obvious that Nigeria as a country still depends on the importation of productive inputs despite all efforts to develop her local resources. Thus, the objective of this study is to determine the impact of globalization on Nigeria economic and industrial growth. The study reveals that for Nigeria to benefit from globalization her productive capacity, economic structure, political stability, macroeconomic policy and technology should be enhanced. Since we found out that trade openness has a negative impact on industrial growth.
Therefore, it should be handled with caution, policies should be directed to decrease trade openness, especially where Nigeria has a comparative advantage due to the fact that we have abundant labour, we should promote labour intensive method of production and export commodities to earn foreign currency for use in other sector.
. The research therefore reviewed the concepts of globalization; it problem and benefit as well as its impact on Nigeria industrial development and the impact of globalization on the world economy are critically examined. Based on determining implication of globalization on economic development, recommendations on the development of Nigerian economy to keep pace with globalization are highlighted.
TABLE OF CONTENTS
TITLE PAGE i
TABLE OF CONTENTS vii
CHAPTER ONE: INTRODUCTION 1
1.1 Background of the study 1
1.2 Statement of the Problem 6
1.3 Aim and Objectives of the study 7
1.4 Scope of the study 7
1.5 Methodology 7
1.6 Significance of the study 8
CHAPTER TWO: LITERATURE REVIEW 10
2.1 Historical perspective 10
2.2 Conceptual Issues 12
2.3 Theoretical issue 16
2.4 Features of Globalization 28
2.5 Problems and Benefit of Globalization 30
2.6 Effect of Globalization on the World Economy 33
2.7 Problems of Globalization 35
CHAPTER THREE: Globalization and the Nigerian Economy 39
3.1 Influence of Globalization on the economy of Nigeria 41
3.2 Challenges of globalization for Nigeria 48
3.3 Effect of Globalization on Nigeria Industry 53
3.4 Effect of Science and Technology on Nigeria 55
4.1 Globalization and the Industrial Development of Nigeria 57
4.2 Effects of Globalization and Deregulation on Nigerian Culture Industries 63
4.3 Globalization and Openness (OPNSS) 67
4.4 Globalization and Foreign Direct Investment (FDI) 69
4.5 Globalization and Foreign Exchange Rate (FOREX) 70
4.6 Globalization and Average World Prices (AWP) 70
4.7 Globalization and Financial Development (FINDEV) 71
CHAPTER FIVE: SUMMARY, RECOMMENDATION AND CONCLUSION 73
5.1 Summary 73
5.2 Recommendation 75
5.3 Conclusion 77
Samuel, A (2018). THE IMPACT OF GLOBALIZATION ON ECONOMIC GROWTH: NIGERIA AS A CASE STUDY. Afribary.com: Retrieved May 08, 2021, from https://afribary.com/works/the-impact-of-globalization-on-economic-growth-nigeria-as-a-case-study
Ayomide, Samuel. "THE IMPACT OF GLOBALIZATION ON ECONOMIC GROWTH: NIGERIA AS A CASE STUDY" Afribary.com. Afribary.com, 13 Jul. 2018, https://afribary.com/works/the-impact-of-globalization-on-economic-growth-nigeria-as-a-case-study . Accessed 08 May. 2021.
Ayomide, Samuel. "THE IMPACT OF GLOBALIZATION ON ECONOMIC GROWTH: NIGERIA AS A CASE STUDY". Afribary.com, Afribary.com, 13 Jul. 2018. Web. 08 May. 2021. < https://afribary.com/works/the-impact-of-globalization-on-economic-growth-nigeria-as-a-case-study >.
Ayomide, Samuel. "THE IMPACT OF GLOBALIZATION ON ECONOMIC GROWTH: NIGERIA AS A CASE STUDY" Afribary.com (2018). Accessed May 08, 2021. https://afribary.com/works/the-impact-of-globalization-on-economic-growth-nigeria-as-a-case-study