Browsing by Author "OKWUDIRE BLESSING ONYINYECHI"

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    INFORMATION AND COMMUNICATIONS TECHNOLOGY INFRASTRUCTURE AND FOREIGN DIRECT INVESTMENT INFLOW IN WEST AFRICA
    (2022) OKWUDIRE BLESSING ONYINYECHI
    Foreign Direct Investment (FDI) inflow is critical for the rapid economic progress of emerging economies such as those of Sub-Saharan Africa. However, in the context of West Africa low FDI inflow in recent time has given rise to concerns regarding West African countries being able to achieve their sizeable economic potentials as West Africa is a major player, economically in Sub-Saharan Africa. This is where Information and Communications Technology (ICT) infrastructure may play a role as it may boost FDI inflow critical as a source of capital for West African countries. This study employs panel data random effects regression and Granger causality, using country level data on West Africa sourced from the World Bank; World Development Indicators and covering the period of 2010 to 2020 to investigate the role of ICT infrastructure for FDI inflow to West Africa. ICT infrastructure was measured using mobile phone use and internet use, while FDI inflow was measured using Net FDI inflow. The study found that ICT infrastructure variables were significant in boosting FDI inflow to West Africa. Further in respect of low and high ICT penetration countries, internet use was significant in promoting FDI inflow in low mobile phone and high internet use countries in West Africa. Further mixed causality findings were found in respect of country specific-causality analysis performed comprising uni-directional causality findings, bi-directional causality findings and nocausality findings. The study recommendations include: that the use of ICT in the form of mobile phones and internet must be promoted and encouraged by individuals in West African countries by country governments, and correlates with ICT such as GDP growth rate, openness to international trade and inflation should also be given focus by West African country governments so as to ensure that the correlates can act as channels through which ICT infrastructure may impact FDI inflow to West African countries.