TITLE:               

MANUFACTURING FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN SUB- SAHARAN AFRICA (1980–2022)

AUTHORS: 

Okwor, Emmanuel ,E. Onwumere, J, U, J.Eneoli, Obinna ,Callistus. Aniakor Cosmas .C. Eneaniofu ,Daniel, M.Anichebe. N.A.

 DOI:  10.5110/77. 1609               Page:   85-105        Vol: 19    Issue: 06   Year: 2024

ABSTRACT

The study sought to explore the impact of manufacturing foreign direct investment on economic growth in Sub Sahara African countries on non

-oil sector of the economy such as manufacturing sector from 1980 to 2022.In a population of fifty-four countries in Africa, forty (40) countries were selected for study based on the purposive sampling. Ex-post facto and analytical design were used. Unit root and other diagnostic tests were applied to ensure that parameters to be estimated are stationary. The ARDL test were used to test the hypotheses of the study. The results show that, Manufacturing FDI have a negative and non-significant impact on economic growth in Sub-Sahara Africa. It is recommended that strategic policies and attractive incentives to foreign investment, institutional set-up for manufacturers need to put in place, and other stake holders should be encouraged to play a vital role in promoting investment to the sector. It is expedient that government policies concentrate on FDI inflows to all these sectors as one of the priorities of every economy especially in Sub-Sahara Africa.

 Keywords:

Foreign Direct Investment, Economic Growth, Millennium Development Goals, ARDL Model, Unit Root

Received:  24 May 2024

Accepted:   16  June 2024

Published: 27 June 2024