Commenced in January 2007
Paper Count: 31106
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.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1108697Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2239
 World Bank, (1996), World Debt Tables: External Finance for Developing Countries, Vol. 1 (Analysis and Summary Tables), Washington, D.C.: The World Bank
 Ayanwale, A.B. (2007), FDI and Economic Growth: Evidence from Nigeria, Research Paper 165, African Economic Research Consortium, Nairobi.
 Asiedu, E. (2003), Capital controls and foreign direct investment. World Development, 32(3): 479–90.
 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
 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.
 Olagbegi, L (2008), Repositioning the Insurance Industry for a Prosperous Future Insurance, Future Summit 2008, Transcorp Hilton Hotel Abuja.
 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.
 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.
 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.
 Obasi, N (2010), Policies, Challenges, Reforms and Nigerian Disposition to Insurance Contracts, The Fronteira Post, 1-6.
 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.
 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.
 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.
 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.
 Ayadi, F.S (2009), Foreign Direct Investment and Economic Growth in Nigeria. Repositioning African Business and Development for the 21st Century, Simon Sigué (Ed.)