The Effect of Insurance on Foreign Direct Investments Inflow to Nigeria
This paper seeks to assess the implications of
insurance to foreign direct investment inflow in Nigeria. Multiple
linear regression technique and correlation matrix test were employed
to measure the extent to which foreign direct investment was
influenced. The result showed that insurance premium (IP), asset size
of insurance industry (AS), and total investment of the industry (TI)
impacted significantly and positively on foreign direct investment
inflow in Nigeria. There should be effective risk transfer mechanism
and financial intermediation, which gives the investor confidence in
the risk management strength of the host country.
[1] World Bank, (1996), World Debt Tables: External Finance for
Developing Countries, Vol. 1 (Analysis and Summary Tables),
Washington, D.C.: The World Bank
[2] Ayanwale, A.B. (2007), FDI and Economic Growth: Evidence from
Nigeria, Research Paper 165, African Economic Research Consortium,
Nairobi.
[3] Asiedu, E. (2003), Capital controls and foreign direct investment. World
Development, 32(3): 479–90.
[4] Anasoronye, M (2012, Nigeria plans to triple insurance market, Business
Day, http://www.businessdayonline.com/NG/index.php/insurance/
22729-industry-prospects-rise-as-foreign-investors-eye-nigerian
[5] Adeyele, J. S and Maiturare, M. N (2012), Repositioning the Nigerian
Insurance Industry for Sustainable Development: Risk Management
Perspective, European Journal of Business and Management, Vol 4,
No.5, 2012.
[6] Olagbegi, L (2008), Repositioning the Insurance Industry for a
Prosperous Future Insurance, Future Summit 2008, Transcorp Hilton
Hotel Abuja.
[7] Merton, R.C., Bodie Z. (1995). “A conceptual framework for analyzing
the financial environment”. Eds. Crane et al DB the global financial
system, a Functional perspective, Harvard Business School press. pp. 3-
31.
[8] Hougaard, C., Mia, D. V., and Smith, A. (2011), Opportunities for
insurance inclusion in Nigeria, Centre for financial regulation and
inclusion, USB Bellville Park Campus Carl Cronje Drive, Bellville,
7530, South Africa.
[9] Ujunwa, A and Modebe, N. J (2011), Repositioning Insurance Industry
for Operational Efficiency: The Nigerian Case, Journal of Applied
Finance & Banking, vol.1, no.3, 2011, 15-32.
[10] Obasi, N (2010), Policies, Challenges, Reforms and Nigerian
Disposition to Insurance Contracts, The Fronteira Post, 1-6.
[11] Ekperiware C. M (2011), Oil and Nonoil FDI and Economic Growth in
Nigeria, Journal of Emerging Trends in Economics and Management
Sciences (JETEMS) 2 (4): 333-343.
[12] Oyatoye, E. O., Arogundade, K. K, Adebisi, S. O & Oluwakayode, E. F.
(2011), Foreign Direct Investment, Export and Economic Growth in
Nigeria, European Journal of Humanities and Social Sciences Vol. 2,
No.1.
[13] Ogbonna, I.C, Uwajumogu, N.R, Nwokoye, E. and Nzeribe, G. (2012),
Economic Growth and Foreign Direct Investment in Nigeria: An
Empirical Investigation, Journal of Economics and Sustainable
Development Vol.3, No.13, Pp 34-40.
[14] Ojo, O. M (2012), Foreign Direct Investment and the Nigerian Financial
Sector Growth, Asian Economic and Social Society in its journal,
RePEc: asi: aeafrj: 2012: p:262-275. http://www.aessweb.com/
download.php?id=1374Olagbegi, L (2008), Repositioning The Insurance
Industry For A Prosperous Future Insurance, Future Summit 2008,
Transcorp Hilton Hotel Abuja.
[15] Ayadi, F.S (2009), Foreign Direct Investment and Economic Growth in
Nigeria. Repositioning African Business and Development for the 21st
Century, Simon Sigué (Ed.)
[1] World Bank, (1996), World Debt Tables: External Finance for
Developing Countries, Vol. 1 (Analysis and Summary Tables),
Washington, D.C.: The World Bank
[2] Ayanwale, A.B. (2007), FDI and Economic Growth: Evidence from
Nigeria, Research Paper 165, African Economic Research Consortium,
Nairobi.
[3] Asiedu, E. (2003), Capital controls and foreign direct investment. World
Development, 32(3): 479–90.
[4] Anasoronye, M (2012, Nigeria plans to triple insurance market, Business
Day, http://www.businessdayonline.com/NG/index.php/insurance/
22729-industry-prospects-rise-as-foreign-investors-eye-nigerian
[5] Adeyele, J. S and Maiturare, M. N (2012), Repositioning the Nigerian
Insurance Industry for Sustainable Development: Risk Management
Perspective, European Journal of Business and Management, Vol 4,
No.5, 2012.
[6] Olagbegi, L (2008), Repositioning the Insurance Industry for a
Prosperous Future Insurance, Future Summit 2008, Transcorp Hilton
Hotel Abuja.
[7] Merton, R.C., Bodie Z. (1995). “A conceptual framework for analyzing
the financial environment”. Eds. Crane et al DB the global financial
system, a Functional perspective, Harvard Business School press. pp. 3-
31.
[8] Hougaard, C., Mia, D. V., and Smith, A. (2011), Opportunities for
insurance inclusion in Nigeria, Centre for financial regulation and
inclusion, USB Bellville Park Campus Carl Cronje Drive, Bellville,
7530, South Africa.
[9] Ujunwa, A and Modebe, N. J (2011), Repositioning Insurance Industry
for Operational Efficiency: The Nigerian Case, Journal of Applied
Finance & Banking, vol.1, no.3, 2011, 15-32.
[10] Obasi, N (2010), Policies, Challenges, Reforms and Nigerian
Disposition to Insurance Contracts, The Fronteira Post, 1-6.
[11] Ekperiware C. M (2011), Oil and Nonoil FDI and Economic Growth in
Nigeria, Journal of Emerging Trends in Economics and Management
Sciences (JETEMS) 2 (4): 333-343.
[12] Oyatoye, E. O., Arogundade, K. K, Adebisi, S. O & Oluwakayode, E. F.
(2011), Foreign Direct Investment, Export and Economic Growth in
Nigeria, European Journal of Humanities and Social Sciences Vol. 2,
No.1.
[13] Ogbonna, I.C, Uwajumogu, N.R, Nwokoye, E. and Nzeribe, G. (2012),
Economic Growth and Foreign Direct Investment in Nigeria: An
Empirical Investigation, Journal of Economics and Sustainable
Development Vol.3, No.13, Pp 34-40.
[14] Ojo, O. M (2012), Foreign Direct Investment and the Nigerian Financial
Sector Growth, Asian Economic and Social Society in its journal,
RePEc: asi: aeafrj: 2012: p:262-275. http://www.aessweb.com/
download.php?id=1374Olagbegi, L (2008), Repositioning The Insurance
Industry For A Prosperous Future Insurance, Future Summit 2008,
Transcorp Hilton Hotel Abuja.
[15] Ayadi, F.S (2009), Foreign Direct Investment and Economic Growth in
Nigeria. Repositioning African Business and Development for the 21st
Century, Simon Sigué (Ed.)
@article{"International Journal of Business, Human and Social Sciences:70812", author = "Chimaobi V. Okolo and Afamefuna J. Ani and Ebere U. Okolo", title = "The Effect of Insurance on Foreign Direct Investments Inflow to Nigeria", abstract = "This paper seeks to assess the implications of
insurance to foreign direct investment inflow in Nigeria. Multiple
linear regression technique and correlation matrix test were employed
to measure the extent to which foreign direct investment was
influenced. The result showed that insurance premium (IP), asset size
of insurance industry (AS), and total investment of the industry (TI)
impacted significantly and positively on foreign direct investment
inflow in Nigeria. There should be effective risk transfer mechanism
and financial intermediation, which gives the investor confidence in
the risk management strength of the host country.", keywords = "Foreign direct investment, insurance.", volume = "9", number = "7", pages = "2493-5", }
