Behavioral And Contextual Factors That Affect The Females...

Besides stereotype threats, there is also a group of behavioral and contextual factors which affect the females and minority students’ career choices. These individual differences affect the adolescent’s potential outcome in STEM. These differences are also supported by two theories which also can explain the results of career choice. First is the theory from Lent, Brown, Hacket (1994,2000) called the social cognitive career theory (SCCT) which emphasizes self-efficacy as well as its link to the likely outcome of choosing a specific path, interests, goals, and the interaction of these attitudes with relevant contextual variables and individual difference (Else-Quest et. all, 2013). This theory is rooted in Bandura’s 1986 self-efficacy theory. A more recent theory which also supports the link of self-efficacy to the outcomes of academic and vocational pursuits is Eccles expectancy-value theory. This theory maintains that achievement behaviors are the product of a n individual’s expectations for success and the perceived value of the behavior (Else-Quest et all, 2013). Stereotype threats about the affected adolescence’s math and science abilities are transmitted by their parents and teachers which leads to negative attitudes being shaped and these beliefs shaping the performance and overall interest in STEM fields. It is the environmental cues which make the negative stereotypes salient (Sharpio Williams, 2011). Many aspects of the adolescents’’ environment such as, parentShow MoreRelatedAn Understanding Of Inequity : How Authority Affects Pay Differences Between Women And Men2542 Words   |  11 Pages1177/1468017313476797 Alkadry, G., Tower, L. (2006). Unequal pay: The role of gender. Public Administration Review, 66 (6), 888–898. Retrieved from: eds.a.ebscohost.com.proxy1.ncu.edu/ehost Alkadry, G., Tower, L. (2011). Covert pay discrimination: How authority affects pay differences between women and men. Public Administration Review, 71 (5), 740-750. Retrieved from: eds.a.ebscohost.com.proxy1.ncu.edu/ehost Anderson, M. (2014). Cosmopolitans or locals: Who will lead the next generation of community colleges? CommunityRead MoreHiv Aids Prevention Program On Hbcu Campuses3858 Words   |  16 Pages29, 2015 The rate of HIV/ Aids among HBCU campuses has risen tremendously over the years. Many adolescents do not acknowledge the risk and consequences of contracting HIV/AIDS. HIV has impacted the African American race extremely and affects the African American culture. 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InRead MoreOverview of Hrm93778 Words   |  376 Pagessubject/course is designed to teach the basic principles of Human Resource Management (HRM) to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of HRM whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. 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About Kennedys Presidency - Free Essay Example

Sample details Pages: 6 Words: 1922 Downloads: 5 Date added: 2019/05/05 Category Politics Essay Level High school Tags: John F Kennedy Essay Did you like this example? John F. Kennedy, son of the prior ambassador of Great Britain Joseph P. Kennedy and grandson of the mayor of Boston John F. Don’t waste time! Our writers will create an original "About Kennedys Presidency" essay for you Create order Fitzgerald, was deliberately prepared for public service and politics by his father and was instilled with a sense of pride for the Kennedy image. When he was discharged from the Navy for medical reasons after being awarded the Navy and Marine Corps Medal, along with the Purple Heart, Kennedy was thrust into politics by his father who had made it his goal to have one of his sons be the first Roman-Catholic president of the United States. Although somewhat detached in personality, Kennedy served with distinction and proved a dynamic leader, especially through the crisis of the Cold War. Had he not been assassinated only a little under three years into his first term as president, Kennedy would have accomplished so much more. Kennedy rose to the presidency is 1961 due in large part to his fathers transfer of presidential ambitions from Johns older brother, Joe, to John himself. As children, the Kennedys enjoyed a privileged life thanks to their rich and politically connected Boston family, attending mostly elite, Protestant affiliated boarding schools to equip them from for the challenges of Harvard. Their access to notable tutors and leaders like Arthur Krock and Sir Winston Churchill propelled them ahead, reflecting their patriarchs drive that later determined a great deal of the familys political fortune. Before being elected, Kennedy served three terms in the U.S House of Representatives for Bostons Eleventh Congressional district and then proceeded to serve in the Senate from 1952 until his presidential victory. As President Kennedy recalled to journalist Bob Considine, I was drafted. My father wanted his eldest son in politics. ?Wanted isnt the right word. He demanded it. You know my father. Ambassa dor Kennedy admitted to telling John it was his responsibility to run for Congress and pushing him to do so (Watson 3-5; Simsung 467). In the Campaign of 1960, Kennedy benefited from a well financed and well-organized campaign, his fathers wealth allowing him to outspend his opponents in the primaries while still remaining competitive in the general election. Kennedys campaign was the first to include professional pollsters and experts in television advertising, and as he won primary elections in New Hampshire, Wisconsin, and West Virginia, many of the losers claimed his fathers money bought the elections. Despite these accusations, Kennedy managed to convince Democratic leaders that he was a viable candidate, securing the nomination of the first ballot at the Los Angeles Democratic National Convention with 806 delegate votes (Sisung 469). In terms of his running mate, Kennedy chose Texas Senator Lyndon Baines Johnson; this was a surprising move for many as Johnson had previously attacked Kennedy personally at the convention, bringing attention to his lack of experience, his poor health, and his fathers preference to steer away from the affairs or interests of other groups before World War II. However, once everyone got passed the initial shock, Kennedys choice proved to be wise; Johnson effectively balanced the ticket as he has strong support among white southerners, an area in which Kennedy as a New Englander had little (Sisung 470). Talk of the Cold War and the nuclear arms race with the Soviet Union dominated the 1960 presidential campaign and were vital international issues through Kennedys political career; both Kennedy and Nixon pledged to strengthen American military forces, promising a tough stance against the Soviet Union and international communism. Kennedy warned of the enemys growing arsenal of international ballistic missiles and gave his word that he would revitalize American nuclear forces and criticized the Eisenhower administration for allowing a pro-Soviet government in Cuba. Kennedys inaugural address stressed the contest between the free world and the communist world, and he vowed that the American people would, pay any price, bear any burden, meet any hardship, support any friend, oppose any foe to assure the survival and success of liberty (The Cold War). During his campaign, Kennedy faced opposition from the leading Protestant clergy who argued that a Catholic couldnt be president as they couldnt put the United States over the Roman Catholic Church. Knowing that he had to confront this issue, Kennedy told the clergy that he wasnt the Catholic candidate for president and promised that he would sooner resign the presidency than allow religious pressures to infringe the national interest. He also announced that he was not interested in whatever glory was attached to being the first Catholic President, that he just wanted to hold the position and happened to be Catholic, and that he didnt regard every Democrat who doubted the electability of a Catholic as a bigot. However, Kennedys religion did give him certain political assets as it gave him the chance to recapture a portion of Catholic voters who has previously stopped voting Democratic nationally, but he was never under the impression that all Catholics would willingly support him. Af ter all was said and done, while Kennedy may have only gotten 38-46 percent of the Protestant vote, the 78-80 percent of the Catholic vote and other ethnic groups helped him carry several of the urban-industrial states in the electoral college (Sisung 470, Sorenson 126-127). Support from African American voters, which he had won from Nixon after he made phone calls to get Martin Luther King Jr. released from police custody, also helped push Kennedy ahead in the election. By helping the most influential civil rights leader, Kennedy carried 70 percent of the African American vote, which later proved crucial in several northern cities (Sisung 471). With support from both of these parties, along with other voters, Kennedy had a realistic chance of victory. However, it was the young mans style during four nationally televised debates that propelled him over the finish line and into the presidency, his good looks projecting a confidence that Nixons demeanor did not. These debates revitalized Kennedys campaign and boosted him in the polls. By election day, Kennedy had 49.7 percent of the total vote with 22 states and 303 electoral college votes while Nixon had 49.6 percent of the total vote with 26 states and 219 electoral college votes (Sisung 471). Towards the beginning of his presidency, Kennedy was faced with a conflicting choice on the matter of a CIA-sponsored invasion known as the Bay of Pigs; while he had reservations about the plan due to his concerns about its chances of success and how it would affect not only his image but the countrys as well, he failed to cancel the operation as he was reluctant to call off an anti-Castro effort that had been concocted during the EIsenhower administration. Kennedy falsely believed that the United States would have plausible deniability in the affair and neglected to demand a thorough military review of the invasion plans, resulting in less than satisfactory results (Graff, 494). Upon the day of the invasion, it was made clear that not only were the invasion plans based on false, unrealistic assumptions, but that Castros military forces were too strong and his regime too popular for a counterrevolution to succeed. Most of the invaders were captured and later ransomed, over a hundred were killed, and some were rescued from the sea by US Navy forces. In the end, Kennedy effectively picked up the pieces, accepting total responsibility, and began to regard the invasion as a lesson. He took from the incident the idea that the president has to have operational control during international crisis instead of heavily relying on experts and that there was a need for a better counterinsurgency capability in order to prevent future Castros from obtaining power in the first place. As time went on, Kennedy made high-level personnel changes in both the CIA and the military and strengthened oversight and coordinating functions, the lessons and these changes proving useful du ring the Cuban Missile Crisis (Graff, 494-495). In June of 1961, shortly before the Bay of Pigs, Kennedy met with Soviet leader Nikita Khrushchev in Vienna, Austria to negotiate in terms of the arms race. Khrushchev threatened to cut off Allied access to Berlin and ordered the contruction of the Berlin Wall to stop the flood of East Germans into West Germany just two months later. This was seen as a threat to Kennedy, spurring him into action as he ordered the substantial increase in American intercontinental ballistic missiles forces, added five new army divisions, and increased the nations air power as well as its military reserves. Meanwhile, the Soviets resumed their nuclear testing and Kennedy reluctantly followed suite in early 1962 (The Cold War). After the Bay of Pigs, Secretary of State Dean Rusk placed himself closer to the president. Rusk believed the world during the 1960s to be caught up in revolutionary changes. He also believed that the U.S foreign policy should give new nations with both technical and humane assistance to help them achieve a more modern way of thinking and democracy. Rusk advocated diplomacy, highlighting civility and communication between the United States and the Soviet Union. This diplomatic attitude and ability to assess competing points of view eased not only the tensions during the Cuban Missile Crisis but also aided in the negotiation of the Limited Nuclear Test Ban Treaty in 1963 (U.S Department of State). In October of 1962, an American U-2 spy plane photographed nuclear missile sites being built by the Soviet Union in Cuba. President Kennedy didnt want the Soviet Union nor Cuba to know that he has discovered the missiles and chose to meet in secret with his advisors to discuss the issue. Eventually, Kennedy came to a decision; a blockade was placed around Cuba to prevent the Soviets from delivering any more military supplies while Kennedy demanded the missiles be removed and the site destroyed. Everyone was unsure of how Soviet leader Nikita Khrushchev would react to these demands; however, both leaders recognized how devastating a nuclear war would be and publicly agreed to a deal in which the Soviets would disassemble both the missiles and the site in exchange for a pledge from the United States not to invade Cuba. In a separate deal that was kept undisclosed for over 25 years, the United States also agreed to remove its nuclear missiles from Turkey (Cuban Missile Crisis). Kennedy didnt have much influence with individual members of Congress and paid very little attention to the legislative process, seemingly lacking the energy and will to do so. He disliked the intense bargaining and time-consuming follow-ups and chose to establish a congressional liaison office headed by Lawrence F. OBrien rather than directly deal with Congress on normal legislative matters. However, OBrien was inexperienced on Capitol Hill and was seen as an unnecessary buffer between the president and Congress. This left members of Congress without the personal contact with the president that was expected and ultimately feeling shut out by Kennedy (Sisung 472). Despite his evasion of certain legislative duties, Kennedy managed to pass three out of five high-priority bills that were on his 1961 legislative agenda; legislation for housing, aid to depressed areas, and increased minimum wage. Kennedy had also proposed a civil rights bill, but this didnt pass during his presidency as he didnt want to risk losing the support of the Democratic party, who held control over Congress, as well as Congress itself which was comprised of a conservative coalition of about 70 Republicans and southern Democrats by pushing too hard on the sensitive matter. This conservative coalition had been attempting to block any liberal-activist and federal expansion programs, along with any bill that may give African Americans civil rights, since 1938 and continued to do so during Kennedys presidency (Sisung 472-473).

King Arthur Essay - 1157 Words

King Arthur Character Analysis Although King Arthur is one of the most well-known figures in the world, his true identity remains a mystery. Attempts to identify the historical Arthur have been unsuccessful, since he is largely a product of fiction. Most historians, though, agree that the real Arthur was probably a battle leader of the Britons against the Anglo-Saxons in the sixthth century. In literature, King Arthurs character is unique and ever changing, taking on a different face in every work. There is never a clearly definitive picture that identifies Arthurs character. It is therefore necessary to look at a few different sources to get better insight into the character of Arthur, the once and future king.†¦show more content†¦This work contains all of the most famous Arthurian elements such as the Sword in the Stone, the magical Merlin, and the love affair between Lancelot and Guinevere. But it was Wace, who using Geoffreys work was first to mention Arthurs Round Table and amplify the belief in Ar thurs return from Avilon, or the Isle of Avalon. GRAPH King Arthurs character has many faces. He is shown to be kind, wise and generous on one hand, yet at the same time, he can be seen as a weak king who is stubborn, childish, and unable to make wise decisions for himself or for the good of the court. He is described by Nennius as a powerful warrior, who is able to personally slay 960 men in one charge. Wace shows him possessing leadership qualities as he establishes the Round Table to ensure that justice and peace prevail. In Celtic legends, Arthur is a supernatural hero who battles giants, monsters, and witches. He kills the Demon Cat of Losanne and hunts the boar Twrch Truyth driving him into the sea. (Camelot and Arthurian Legend: Arthur online 4/27/98) GRAPH Some literary work depicts Arthur as an ideal Christian hero and as among Gods elect. Young Arthur is able to withdraw the sword from the stone because he has been chosen by God to be the next king. Officers in the Roman army carried shields bearing portraits of their emperors. Geoffrey describes Arthur having a shield with the likeness ofShow MoreRelated King Arthur Essay1428 Words   |  6 PagesKing Arthur Character Analysis The character of King Arthur is unique in literature. Most characters are known through their actions and words as described by the author of a story. Arthur, however, is a conglomerate of characters described by many different authors over a fifteen hundred year span. There is no single depiction of him, and one cannot trace his origin to a single author for the definitive description. As such, the character of Arthur is different depending on the era, cultureRead More King Arthur Essay1664 Words   |  7 Pages Tales Of King Arthur Since the romanticizing of the Arthurian legends by Geoffery of Monmouth, the historian, during the twelfth century, the legendary king of England has been the source of inspiration for kings, poets, artists and dreamers alike. The most famous work is probably Sir Thomas Malorys Le Morte dArthur, completed around 1470, and published in many abridged and complete versions. Malorys work contains in one the legend that had been continually added to over theRead More King Arthur Essay2674 Words   |  11 PagesKing Arthur The Arthurian legends are well known in todays society. However, very few people know of the real Arthur -- who he was and what his accomplishments were. This paper will establish a difference between legend and truth, show evidence to support and explain who the real Arthur was, and shed some light on the sometimes confusing Arthurian legends. To establish any sort of idea that there was, in fact, a real Arthur, it is imperative to look over the legendary ArthurRead MoreThe Legend Of King Arthur1308 Words   |  6 PagesKing Arthur King Arthur was one of Britain’s and Wale’s most influential literary figures from the early 800’s. Through the ages more caught on to these Arthurian Legends, and they began to embrace them as part of their culture. Some believe that he is only a legend, yet others believe that there is even an Arthur living among us today. While growing up, Arthur was oblivious to his heritage. From becoming a King at the age of 16, Arthur showed courage and strength in the darkest of timesRead MoreKing Arthur Essay1506 Words   |  7 PagesThe stories and legends surrounding the character of King Arthur are among the best known of all stories about kings and knights. The stories and legends surrounding the character of King Arthur are among the best known of all stories about kings and knights. He is the greatest of British literary heroes, although little is known about the real person. Folklore and literature provide examples of a recurrent myth about a leader or hero who has not really died, but is asleep somewhere orRead MoreKing Arthur and Lancelot1131 Words   |  5 Pagesbattle. Nine months later, Merlin takes Uthers son Arthur. Uther pursues but is mortally wounded by Gorloiss knights. Uther thrusts Excalibur into a stone, and Merlin proclaims that he who draws the sword from the stone, he shall be king. Years later Sir Ector and his sons, Kay and Arthur, attend a jousting tournament. Sir Leondegrance wins the chance to try pulling Excalibur from the stone, but fails. Kays sword is later stolen, and Arthur pulls Excalibur from the stone while trying to stopRead MoreCharacteristics Of King Arthur880 Words   |  4 PagesMany know of the epic hero Arthur, but don’t know what it is that makes him so. Though there isn’t one solid story, like Beowulf, there are multiple stories that agree on the same things, such as Arthur’s allegiance to the Knights of the Round table, his companion Merlin, his relationships with his fellow knights, family, and close friends, and the legendary sword Excalibur. When all aforementioned qualities are explained and put together, it can truthfully define Arthur as an epic hero. The legendRead MoreWho Is King Arthur?526 Words   |  2 Pages2010). This quote is the perfect way to describe King Arthur. The stories of King Arthur have been passed down for centuries. He is a huge figure it literature and his stories have impacted many people. What if that is it? What if it is all just stories. History has provided us with much evidence that he is real. We also have a lot of counter evidence as well. So, who exactly was King Arthur and is he a hero born, or just made up? Arthur, a Celtic king who was born of deceit and adultery, became oneRead MoreKing Arthur873 Words   |  4 PagesKing Arthur, was he man of truth or myth? King Arthur was a real person, not just a fictional character. While many believe that King Arthur was a non-fictional character, others feel that he was a fictional character. This was because there is no written record of a King Arthur in any area where he was reportedly born or deceased. King Arthur was real because there many people recall King Arthur or who have known personal stories of him, his family, and the wars he so bravely participated in. ThereRead More King Arthur Essay example1129 Words   |  5 PagesComing of Arthur The Two Swords- Arthur pulls a sword from a stone and becomes king. Then he goes to the Lady of the Lake and she gives him the sword Excalibur and the magic scabbard. Balyn and Balan- Balyn gets a cursed sword and kills the Lady of the Lake. He goes after Garlon the invisible evil night and finds the Castel Carbonek. He stricks King Pelles with the Dolorous Stroke then fights his brother unknowingly and they kill each other. The First Quest of the Round Table- King Arthur

Globalization and the Dependency Theory Essay example

Globalization became a worldwide phenomenon with the growth of market economy and information technology. With globalization, the operators of companies and enterprises could use resources, management, expertise, information and labour of the entire world to manufacture the goods in the most appropriate areas, and then sell the produce to the areas which require them, to accomplish the most favourable distribution of resources in the world. This caused enterprises and countries to break out the boundaries of the local resources and markets, starting a competition with others in a broader sense to accomplish development. Globalization brings states and regions together by reducing the distances between each other and increasing the degree†¦show more content†¦This unequal distribution has not only facilitated the developed or core states to progress and obtain higher standards of living but also pave the way for them to keep doing it. Although it is right that globalization p romotes free trade among the states and unites them, but there are also negative outcomes, which states whether rich or poor try to protect their own interests? These negative outcomes of globalization have made the dependency theory significant in describing the state of affairs in the present world. Poor countries attempt to protect their national markets and become self-reliant (Hewison, 1999). Self-reliance can be seen as supporting a strategy of controlled relations with the world economy. Poor nations should only approve relations on the condition that the relations will enhance the societal and financial well being of the larger population. However, endeavour by the peripheral states to oppose the impact of dependency can result in results in financial sanctions and/or military attack (Sen, 2010). One example of such resentment against globalization is â€Å"localismâ€Å"that surfaced during the financial crisis in Thailand (Hewison, 1999). Localism is an illustration of p opulist response to the changes and disparities created by globalization. Localism gained substantial energy from the Thai King’s speech in 1997, where he recommended a self-contained economy to counter the negative effectsShow MoreRelatedDependency Theory And Globalization Theory866 Words   |  4 PagesThere is much criticism that modernization theory is Eurocentric. Do you think dependency theory and globalization theory are also biased? Why or why not? Yes I do think that both theories are biased, and somehow both have Eurocentric approaches. The globalization theory has failed to overcome the relationship with the dependency theory. To me both theories are highly abstract and they are also connected. For example, those in favor of the dependency theory indicate that industrialization and capitalRead MoreThe Modernization Theory, The Dependency Theory And The Globalization Theory1552 Words   |  7 Pagesinequality and stratification. Three of the most important theories are the modernization theory, the dependency theory, and the globalization theory. While the first implies that the Western European socioeconomic model is superior, the other two make no such insinuations; however, they do reflect different point of views. Moreover, while the most pertaining theory for explaining inequality moving forward seems to be the globalization theory, there is a need to view them separately first and compareRead MoreModernization : A Principle That Looks At The Domestic Elements Of A Rustic With The Belief That Essay1474 Words   |  6 Pagessystem of modernization and as a result that falls into internal conflicts on the way to useful resource the system of modernization due to shortage of resources. On the other hand modernization has through the years been hastened with the aid of globalization- as the arena has come to be integrated on many stages (political, economic, and social); modernization has been capable of spread across borders via the truth that it has recommended the development of an international financial system that focusesRead MoreThe Acknowledgement Of Core And Peripheral States On Global Stage902 Words   |  4 Pagesestablished states challenging to narrow. Imperialism and dependency theories were therefore begotten to explain complicated relationships between nations, among them the flow and tendency of influence. While these two get their own criticism, in the age of globalization, the notion of interdependence threatens the validity of such theories (Hesmondhalgh, 2008). However, this essay attempts to argue that imperialism and dependency theories are still applicable to communications policy field in a worldRead MoreThe Role Of Power In International Communication1391 Words   |  6 Pagesmight argue that globalization has facilitated the exchange of information, reducing the likelihood of such flaw from happening. Yet, another perspective towards globalization and international communication might show how globalization exacerbates the issue. In today’s world, globalization and international communication always interact with each other. Globalization eases the process of international communication, while international communication affects how globalization works. AssociatedRead MoreEconomic Theory, Democracy, and the Progressive Church690 Words   |  3 PagesEconomic Theory, Democracy, and the Progressive Church The overriding difference between modernization theory and dependency theory is that where modernization theory contends that there are universal practices that result in economic success, dependency theory states that poor countries are subordinated by wealthier ones in order to maintain the status quo. To this end, modernization theory involves the belief that by adopting principles of wealthy nations, such as technology and mass cultureRead MorePoverty.A Word That Has Haunted The World For Years. Poverty1724 Words   |  7 Pages140 for a family of 7. The numbers presented are staggering and also unsettling. Poverty eradication theories have been presented and eradication may seem like a long shot for poverty but it s definitely worth a try. From a realists point of view poverty may always exist but from an idealistic point of view we can make substantial progress in the fight against poverty. Based on the realism theory poverty will always haunt us. Realist tend to view situations as they are, nothing more nothing lessRead MoreConstructivism, Symbolic Interactionism And Social Conflict Theory1509 Words   |  7 PagesSuch theoretical approaches of functionalism, symbolic interactionism and social conflict theory allow us to critically analyse and discuss the importance of globalisation, giving deeper insight into this social phenomenon. Globalisation according to Giddens is the intensification of worldwide social relations which distant localities in such a way that local happenings are shaped by an event occurring many miles away and vice versa (1990, p.64). Due to the advancement in technology, globalisationRead MoreThe Global North/South Divide1724 Words   |  7 Pagesdefined as the global north and the global south. The theory of the Global North and Global South is a new geopolitical perspective. It divides the world into two blocs – the industrialized cou ntries of the global North and the poor countries of the South on the global level of analysis. While â€Å"Global South† is sometimes used as a synonym for the more familiar â€Å"third world† that term has fallen into disfavor. This essay looks at globalization and discusses how it has exacerbated the pre-existingRead MoreThe Development Of Tourism Development1286 Words   |  6 Pagesby the development of tourism. For instance, the rise of tourism attractions which attract tourist as well as creating jobs for locals. It clearly shows that benefits are equally distributed between these two parties. 2. How changes in development theory have influence changes in tourism development While development could bring in all sorts of benefits, Telfer (2015) argues it still remains problems that tourism has not been solved. This include poverty, famines, violation of human rights and the

Counseling Interview Paper Free Essays

Counselor Interview PaperJessica Peacock I plan on going into the School Counseling field, so for my interview I went to a long time family friend Kay Weems. Kay is a school counselor currently at Madison Station Elementary, but she has 19 years of experience at different levels of education in counseling and in different environments as well. She also was an elementary teacher for 10 years prior to becoming a school counselor. We will write a custom essay sample on Counseling Interview Paper or any similar topic only for you Order Now Kay went to school at Mississippi State and received a bachelor’s degree in elementary education with a minor in special education. She went on to obtain her masters degree in special education. After school she taught at the elementary level for ten years so she has plenty of experience with children ages 5-11. When she had her only daughter Aubrey, she decided to get her master’s certificate for guidance counseling and then went back to work as a guidance counselor. This year is her first year counseling at the elementary level, but previous years she did high school two years and middle school 16 years in several different environments. When I asked Kay’s perspective on the purpose of the school counseling profession she said that she feels as though she makes an impact on children’s lives every day. Her goal is to help children achieve academic, personal, as well as social success in the school environment. She provides individual counseling to students, as well as referrals for students to community support or for students that may need additional help in the classroom or academic testing. When I asked her about the demands of her job, she took a second to think about it, I imagine situations running through her head when she struggled with a child or a child’s family. She admitted that working with a child’s parent can be very difficult. She explained parent’s often times want to believe their child is perfect and perfectly happy, so when a counselor has to sit down parents and inform them something is wrong with their child many times the response from parents isn’t pleasant. Another struggle was dealing with abused children; she described that as â€Å"gut-wrenching†. Often times it is hard for her to leave stuff like that at work. She said that the best way to cope with those situations is to know that no matter what, every single day you have done your very best to get that child out of the bad situation that they are in. Before I interviewed Kay, I asked her about working with culturally diverse, and/or underrepresented children and she said that in her 19 years of counseling she has worked an abundance of both of these groups. She said that each time you work with a child of a culture that you are not extremely familiar with, you often times learn something new. It is a learning process she said. But when I mentioned underrepresented children she started to tell me about a group of kids that had experienced a very tragic trauma before them. She told me of a Friday she found out she would be sent to Pearl High School on the next Monday to counsel to kids the next school day after the first school shooting in America. She explained that she had no idea what to tell these children, or how to answer there question, â€Å"Will the killer show up again at school with a gun? † These children had lost their friends and peers right before their eyes. She did her best and learned a lot about counseling children who have experienced extreme trauma. She made an effort to revisit these children that had been affected through a year period and counsel them. She said often times when situations like this happen, the children that witnessed these murders of their friends in their own school get left without the proper help they need. When I asked Kay about ethics in her job, she said it really comes down to having the best interest of the students at all time. It is important to know your job description and be able to explain it to parents as well as to a child that may not understand in adult language what you do. Always, let your students know limitations up front as well as the counselor-student relationship. We talked about the staff structure, but Kay, like most school counselors, is the only one at her school. She works close with teachers, office staff, and the school nurse as well. She said she personally likes being the only counselor in her setting. I do know that at many high schools in the regional area there are as many as four school counselors in one school. I asked Kay about her knowledge of current global issues, and she only mentioned cyber bullying. She said that there are so many problems with kids being bullied over the internet out of school and it is causing problems inside the school. She said that this has definitely become more prominent in the past five years and fears how much worse it can get. She didn’t mention any global issues other than that though. Kay has improved many more lives than she has told me about but what she has told me has amazed me. She has a love for helping children and that is such a gift. When I look at the profession I think that the rewards outweigh the struggles and I am excited to see what this career path has for me in life. I have always wanted to work in the school district just as my mom does. While talking with Kay I could easily see the passion she had for this career, it seems as though she wakes up liking to go to work unlike many people in the world today. I have learned a lot talking to her and would be interested in sitting in with her one day while she does her daily work as a school counselor. How to cite Counseling Interview Paper, Essay examples

Makiing Reqruitment Decision For University â€Myassignmenthelp.Com

Question: Discuss About The Makiing Reqruitment Decision For University? Answer: Introducation Fly scot airline is a commercial airline operating in Singapore and internationally and is owned by the Singapore Airlines which has 62 destinations that it flies to. This airplane has five classes in which its clients can travel into; suites, first class, business, economy, and premium. It operates other airlines and is owned majorly by the government of Singapore. It has many employees working under it and have even come up with girls empowerment programs called Scoot Girls that ensures equal rights is given to both genders. Employees are assets to fly scoot without whom; no business can be conducted(Bohlander, 2009). It is therefore important for a fly scoot to have a human resource manager to ensure that the welfare of the employees is catered for and that they fulfill their duties and obligations to the company(Collings, 2009). The human resource has different managerial and operational functions he performs in the management of the company, i.e., Managerial duties Administrative duties Planning Organizing Directing controlling operation functions procurement services development maintenance compensation The human resource manager (HRM) help an organization to achieve its goals and is also involved in the employment of employees. The HRM organizes the recruitment and selection of these employees based on their qualifications on the job description the company is looking for. For this process to be a success, there is a process to be followed(Bohlander, 2009). Job Analysis The HRM is required to define all the requirements needed for the position that new employees are required, the nature of the job, skills need, duties and responsibilities of the employee(Collings, 2009). It is important to identify all these elements before hiring to find the fittest candidate to occupy the position. It will also help determine the type of training to be offered to employees should need to arise. Candidates are also able to understand what is required of them before applying for the position(Ash, 1980). Job analysis is significant for assisting people in building their professions and to help associations develop their employees to maximize their talents(Hall, 2005). The result of job analysis are the impacts in outlining in getting the hang of, creating performance and enhancing processes. The utilization of job analysis methods makes the implicit assumption that information about a given occupation as it may be used to create programs to enlist, prepare, and select individuals that meet their criteria. For a job description to be considered legal, it must be in writing. Key elements that should be discussed in it are; Skills Knowledge Abilities Duties Qualifications Impact of position Salary consideration Physical requirements There are two approaches used in job analysis(Mohammed. H. Z., 2004); Task-oriented This technique concentrates on the actual activity engaged in performing work. This system takes into consideration work, obligations and duties. The HRM the creates task statements that unmistakably express the workloads to be executed with precision. Work-oriented This technique aims at the attributes that an individual need to carry out his duties successfully. These attributes are skills, knowledge and other different attributes that the person portrays. This information acquired by the HRM are evaluated according to the importance of frequency. In Fly scoot, should the company need a financial accountant(FA), the HRM will prepare a job description that states the requirement needed. For an instant, the FA is required to make a financial statement every year, budgets and tax payment. He is also expected to meet deadlines on time, be a quick decision maker and familiarize himself with all rules and requirements in the company(Collings, 2009). JOB DESCRIPTION This is a statement that describes a particular job after findings by the job analyst. It has the duties, obligations, scope and the working state, job title, name of the executive that the employee reports back to(Collings, 2009). The job description for a financial accountant; Fly scoot Airline is searching for an experienced financial accountant to oversee financials and participate in the preparation of financial and other statements. He should have a degree in accounting and other significant work understanding; you will guarantee that all of our bookkeeping agree to the law and our companys ventures. Responsibilities Tax management and payment Predict and forecast expenses and incomes Oversee internal audits Budget for the company Participate in the monthly, quietly and yearly financial activities Prepare financial statements Make stocktaking processes to determine the businesss assets Requirements Degree in accounting and other business course certificates will be an added advantage Familiar with all final requirements and regulations Meet deadlines Is time oriented Confidentiality Teamwork skills Desire to learn from others Excellent in solving math problems knowledge and expertise in Microsoft, especially excel. However, job analysis may be vied as a block to some circumstance; Expectations may not be suitable for senior directors as they ought to have the flexibility to step up and find new directions Set of responsibilities might be excessively inflexible in a quick evolving organization Different changes in work may prompt the expected set of responsibilities to be outdated The process that a business uses to create the job descriptions may not be ideal. Job Specification This are skills, ability, knowledge and education that an individualneeds to perform specific jobs. It is created once the job analysis is done and a detailed job description has been written. Its, main objective is to describe in extreme details the type of skills an individual should have in order to perform tasks and job required by a firm. Job specification often known by; knowledge, skills, ability and other characteristics, also known as KSAO. For a FA accountant to be hired in Fly Scoot, he must show the following KSAO skills, Knowledge-a financial account must have knowledge in accounting theories, rules and regulations. He must have a degree in accounting and other business certifications are an additional plus. Skills-an accountant must have skills in performing accounting tasks, have skills in Microsoft excel and other systems that the company uses and have the skills in book and record keeping Ability-FA should be able to make sound decisions even when under pressure, he should be patient and meet deadlines. Other characteristics-FA should be friendly with other employees and should have good communication skills, he should maintain a healthy relationship with everyone in the company and be mature while solving conflicts in the workplace. Accountants are regulated by laws like International Accounting Standards, International Accounting Standards Boards, FAAB and ISA among others. For an individual to be a recognized FA, he must be registered with CPA bodies so as to work as a recognized and legal FA. It is therefore important for HRM at Fly Scoot to ensure an individual has the above skills and abilities, and is legally permitted to work as a financial accountant before hiring them. Also this helps the HRM in deciding the best candidate for the position in FA since some may not have qualified for that position. This is the process of looking for qualified employees and encourage them to apply for positions in a company. Recruitment may also take place when a corporation is taking in workers that are not paid, egg, attached, interns or volunteers(Frankilin, 2005). It gives a company with a pool of candidates that they can pick from. Before recruitment takes place, the organization should decide on what number of employees are needed. There are three types of recruitment needs(Ash, 1980); Planned needs- this is an organized plan and decides to hire new employees due to arising issues, egg, retirement of some employees Anticipated need-arises when a company hires because they anticipate future changes in the business world trends. Unexpected needs arise when unplanned happening occur, death, and may affect the company if there is no immediate replacement. Objectives of recruitment in an organization include Search for qualified people e to work for the company Attract qualified candidates to the company Introduce fresh blood to the company To add outsiders to new perspectives about the organization. There are different strategies and policies that Fly Scoot may apply to ensure that they attract only qualified candidates to fill the position in the firm. Direct method This approach includes scouting, and it involves promotion of existing employees to higher positions instead of hiring new people. This method is cost effective since the candidates are already familiar with the organization's routines and no training will be needed(Schneider, 1989). However, it limits Fly scoot from introducing new ideas in which may slow down its development External sourcing This occurs when the company requires people from outside the enterprise. It is more suitable for Fly scoot since only the best will qualify for the FA position(Hall, 2005). The recruit will also come up with new ideas that may be beneficial to the company since they are more than willing to show off their skills. This also an advantage to the country since the level of unemployment is reduced. However, it is expensive since these recruits will require being trained and the process of hiring also incurs a lot of expenses and time. Third party sourcing This is the poaching of employees from other organizations they are working in(Darling, 2007). The employees are offered better pay and other benefits for them to move from their current jobs to other. This method is an advantage to the company because only qualified employees are hired, and they introduce their ideas to the enterprise(Greiner, 1998). However, these employees cannot be trusted since, should they find a better paying job, they will leave the company. They cannot be relied upon to work in the organization for long also. For Fly scoot, the best approach to use is the external sourcing method. This will ensure only qualified candidates are employed and that new ideas may be introduced to the company. The company will also participate in the reduction of unemployment rates in the country with benefits both the state and company whole nations as well(Collings, 2009). The HRM will also be able to interact with the candidate before hiring them beforehand, during the selection period. This creates a rapport between the two which the HRM may utilize during his decision-making about the candidate. Once recruitment process is completed, selection takes place(Greiner, 1998). This is the actual choosing of the most qualified candidate to work for the organization and weed out the unqualified candidates. The major objectives of selection are Verifying of information needed by the candidate Establishing a mutual understanding with the candidate Introduce the employee to facts about the organization and the job. There are different techniques that the HRM may use to select the best candidate. These techniques are: Interviews This is a method where the employer interrogates and questions the candidate face-to-face, listens to every answer, observe the candidate while he answers those questions and finally making his decisions based on the interview(Bohlander, 2009)w Referencing In this case, the employer contacts the candidates references and asks a question about the candidate. Depending on the responses given by these referees, the company may choose, whether or not to hire the candidate(Hartley, 1999). Evaluation An employer may decide to hire a candidate just by looking at his paper qualifications and whether he meets the requirements set.(Greiner, 1998) Selection testing An employer may choose to test a candidate by presenting them with skills and tasks that they need to perform. If the work is done to the companys satisfaction level, he may decide to hire the candidate(Collings, 2009). The best technique an HRM at Fly scoot may utilize is the interview technique. Different types of interviews may be used(Mohammed. H. Z., 2004): Informal This is not a planned interview and may take place anywhere. It is used when there is no time for planning one. Formal This is a pre-planned interview where the employee is notified beforehand. The employer also prepares a set of questions that he will be asking the candidate. Structured This is an interview where questions are preparing beforehand, and the employer may ask them following a certain procedure or cycle. Unstructured Questions are asked randomly, and the candidate can answer each question freely Panel More than one member conducts this type of interview, and questions can be asked randomly by different interviewers. Stress In this interview, the candidate is placed under pressure. This is mainly used when the work involved may cause one to be stressed or, may require the employee to experience horrible experiences. For a compelling interview to be conducted, the following process is to undertake: Preparation of interview Preparation of place of doing interview Conduction of the interview Closing of interview Evaluation of results An organization is required to follow the employment legislation also when employing employees(Ash, 1980). These laws protect employees from discrimination of race, age or even nationality. HRM should monitor the overall performance of employees and find solutions to conflicts that may arise. HRM should also implement guidance and policies that the employee is required to follow during the employment period(Huffcut, 1994). Fly scoot should utilize the recruitment and selection approaches and strategies to ensure that only the most qualified candidate is selected to occupy a position in their company. HRM should also introduce factors that he may use to motivate working employees without supervision(Hartley, 1999). Activities like reward giving should be used to encourage the hired employees to work efficiently and be innovative in their workstations. They should, however, follow laws and regulations to avoid penalties by the law. References Ash, R. A. (1980). A framework for evaluating job analysis methods. Personal psychology, 57, 53-59. Bohlander, G. . (2009). Managing human resource. Independence Cengage Learning. Collings, D. G. (2009). Human resource management: a critical approach. London: Routledge. Darling, P. (2007). Disability in the workplace. Business NH magazine, 24(8), 28. Frankilin, M. (2005). Guide to job analysis. American Society for training and development. Greiner, L. (1998). Evolution and revolution as organization grow. Harvard Business Review. Hall, T. . (2005). Personal management: A new approach. Prentice hall international. Hartley, D. E. (1999). Job analysis at the speed of reality. Amherst, Mass: HRD press. Huffcut, A. I. (1994). Hunter and Hunter revisited: interview validity for entry-level jobs. Journal of applied psychology, 79, 184-190. Klerck, G. (2009). Industrial relations and human resource management. In G. D. G. Collins Wood, Human resource management: A critical approach (pp. 238-259). London: Roultledge. Merkle, J. A. (2003). Management and ideology. California: University of Califonia Press. Mohammed. H. Z., W. Y. (2004). Makiing the reqruitment decision for fresh university graduates: A study of employment in an industrial organization. International Journal of management and decision making, 380-402. Muchinsky, P. (2012). Psychology applied to work. Summerfield, N klu C: Hypergraphic Press. Schneider, B. K. (1989). Strategic job analysis. Hum. Resour. Manage., 28, 51-

An Empirical Analysis of the Determinants and Growth Trend of Foreign Direct Investment (Fdi) in Nigeria 1970 - 2008 free essay sample

AN EMPIRICAL ANALYSIS OF THE DETERMINANTS AND GROWTH TREND OF FOREIGN DIRECT INVESTMENT (FDI) IN NIGERIA: 1970 – 2008 BY IGUDIA, PATRICK PhD RESEARCH STUDENT IN MANAGEMENT, UNIVERSITY OF ABERDEEN, AB24 1WU ABERDEEN MOBILE: 07423820801 EMAIL: [emailprotected] com AN EMPIRICAL ANALYSIS OF THE DETERMINANTS AND GROWTH TREND OF FOREIGN DIRECT INVESTMENT (FDI) IN NIGERIA: 1970 – 2008 Abstract International capital flows have increased dramatically in recent years particularly to the sub-Saharan Africa, but their impact on Nigeria has not been so clear. Consequently, this study investigates the economic indicators that are responsible for or can influence the inflows of FDI into Nigeria as it is believed to have the capacity to lead to industrialisation and economic growth of any nation. Employing the OLS regression methodology, our results showed an impressive FDI inflow to Nigeria with occasional variability. It further revealed that there was a positive relationship between GDP, BOP, democratic government, and government expenditure and FDI while on the other hand there exists an inverse relationship between inflation, and government policies and FDI. The study proffers some recipes such as the need to improve existing political climate; reinvigorating the non-oil export activities; and the need to introduce greater depth and comprehensive review of the on-going restructuring of investment policies of government such as divesting in and privatising PHCN, NNPC and many more of their type for efficiency. 1. Introduction The importance of foreign direct investment (FDI) has long been acknowledged and discussed in academic literature worldwide. For example, it is argued that FDI has the potency to benefit developing countries in many ways including its ability to: i. Complement the unimpressive internal efforts of these nations to fill their resource gaps in order to rescue their battered economies; ii. Help to massively inject foreign capital or resources in order to generate and bring about the much needed increase in output, minimize their ever rising unemployment rate and reduce the escalating rate of inflation; and iii. Create a non-debt external resource through the acquisition of foreign technology, transformation of the structure of their domestic outputs and provide an array of goods and services to residents of the recipient countries, the diversification and expansion of the non-oil export sector of the oil dependent countries such as Nigeria, and the effective management of their external liabilities. Generally, FDI has the potency to spark an economic performance of both the host and exporting countries and spur appropriate policy frameworks. Admittedly, an underlying investment and business principle is that the movement of capital can only be undertaking by a rational investor if such investment would yield tangible returns to him given favourable financial market regulations, economic and most importantly political factors that prevail in the receiving country that will ensure the safety of life and investment. The research questions that are to be addressed by this study therefore are: 1. What are the factors that have affected the flow of FDI to Nigeria during the intervening period? 2. What are the relationships between the observed FDI inflow and the size of the Nigerian market, economic situation and the prevailing political environment? 3. Has any or all the factors either adversely or positively affected the movement of FDI to Nigeria? Foreign private investment has remarkable potentials for regenerating the economy of the importing or receiving country. This assertion is without prejudice to the arguments of scholars like Ake (1978), Oyande (1976), Ohiorhenuah (1983) who separately argued that FDI enables foreigners to dominate domestic economies, create distortions in the domestic labour market by paying higher or discriminatory wages. As a matter of fact, Nigeria between 1962 and 1986 adopted a conjecture of numerous developmental and investment policies that could be interpreted inimical or adverse to foreign investors. While the industrialising countries of Eastern Asia (the Asian Tigers) adopted an open door policy towards encouraging foreign investments, Nigeria adopted the indigenisation decree (Nigerian Enterprises Promotion Decree NEPD) in 1972 and thus nationalised all British concerns in Nigeria in 1975/76 for political reasons rather than economic. These had the unfortunate effect of retarding foreign investment inflows. While the country pretended to encourage foreign investment in theory and principle, it nonetheless executed policies that discouraged FDI in practice. For example, a controlled interest rate, managed and officially fixed exchange rate regimes, strict and exclusive trade policies as well as government full time and active participation in business during this review period up until the introduction of the Structural Adjustment Programme (SAP) in 1986 provided wrong signals to potential investors hence the country recorded a low average FDI level of 0. 79 per cent between 1973 and 1989 (Anyanwu, 1998). Nigeria opened its doors, in the true sense of the word, to foreign investment beginning from 1986. SAP as a policy framework was a deliberate and desperate attempt by the then military government to combat the triple problems of hyper inflation, domestic recession and most importantly balance of payment deficit which the country was going through that together acted as disincentives to FDI inflows. These were products of the structural rigidities that characterised the pre-SAP Nigerian economy with the endemic hydra-headed corruption and outright looting of public funds by government officials. Given the anticipated positive spiral and trickle-down effects of FDI to the recipient economies it stands to reason why Nigeria in the light of her prolonged chequered economic recession and macroeconomic instability has decided to formulate and prosecute strong economic programmes such as SAP, National Economic Empowerment and Development Strategy (NEEDS), vision 2010 and now vision-20-20-20 among others to stimulate growth and development of the Nigeria’s domestic output, minimise he rate of inflation which stands at two digits presently, reduce the high unemployment level, put a lid on the rising stock of external debt after her previous debt was forgiven, acquire foreign technology and substantially reduce depreciation of /the exchange rate of the naira which has hit the rooftops in recent years. 2. Literature Review FDI is defined as the mobilization of men, money, materials and entrepreneurship across country borders mainly from the developed to the developing countries to form business concerns (Igudia, 1998). It is the flow of capital and human resources from one country to another country. The ownership of such capital can be individual, corporate bodies or government (Yakub, 2003). When viewed from the perspective of finance, FDI refers to a kind of lending in the form of equity participation (Obadan, 2004). In general, FDI involves the transfer of technology, managerial know-how, capital, personnel and marketing expertise from the country of export to the recipient country. The World Bank (1996) defines FDI as investment that enables the investor to acquire a lasting management interest in an enterprise in a country other than the investor’s own country with the aim of having an effective voice in the management of such an enterprise. Odozi (1995) sees foreign investment as the inflow or transfer of a package of resources including capital, technology, management, marketing expertise, reinvested earnings, equity capital or net borrowing from parent companies or affiliates into another country. Anyanwu (1998) opines that foreign direct investment means the sum of equity capital, reinvestment of earnings, and both long and short-term capitals as represented in the balance of payment statement of account of the receiving country. The determinants of FDI has been variously interpreted and classified (see for example Oyeranti (2003); Akinkugbe (2003); Asiedu (2002); Anyanwu (1998); Dunning (1994); Yauri (2006)). While Akinkugbe (2003) argues that the determinants of FDI are based on some locational advantages classified as pull-factors, Asiedu (2002) argues that such factors can be classified into two – the market-seeking and non market-seeking factors. However, Anyanwu (1998) in his study broadened the classification into four as 1. The Natural Resource-seeking investment; 2. Market-seeking investment; 3. Efficiency-seeking investment; and 4. Strategic asset-seeking investment. The first two categories justify the main reasons for an initial foreign entry by a firm in whatever sector of the economy be it in the primary, secondary or tertiary sector while the other two categories represent the motives for expanding an already existing foreign investment by an established foreign investor. The efficiency-seeking investments are intended and most times lead to increase in efficiency of the activities of regional or global companies popularly called transnational corporations (TNC) by way of integrating their assets, production and markets. On the other hand, the purpose of the strategic asset-seeking investment is to acquire resources and capabilities that an investing firm believes will sustain and advance its core competencies at regional or global markets (Anyanwu, 1998). Both the efficiency-seeking and strategic asset-seeking investment modes are frequently the most swiftly way of attaining competitive advantages and market domination in their respective industries (Wendt, 1993). However, these classifications are underpinned by what may be termed raison d’etre: the reason to invest in another man’s country is rather predicated on some salient underlying justifications which are predominantly economic with fewer political undertones. All of these categories are represented in table 1. Table 2. 1: Underlying Justification for FDI S/No| Type/Nature of Investment | Raison d’etre (Underlying Driver or Justification)| 1| Natural Resource-Seeking * Human Resources i. Men (labour) ii. Entrepreneurship * Physical Resources i. Money ii. Material iii. Technology | Include all reasons that spur the initial need to undertake foreign direct investment including domestic demand (large market and high income), profit maximization and cost minimization. 2| Market-Seeking * International Markets * Regional Markets * Domestic Markets| In addition to (1) above, the reasons here include, among others, the need to either create or expand an already existing market for a bigger coverage and representation. | 3| Efficiency-SeekingGeared towards creating and exploiting the economies of efficiency * Across Product * Along Process | To integrate assets, production and markets across countries by establishing Trans-National Corporations and benefitting from he cost-cutting measures d erivable from the efficiency of specialisation. | 4| Strategic Asset-SeekingTo create assets with foreign network outlook at regional or global level underpinning through * Market domination * Strategically developed Technology * Improved organisational capabilities | Here, the reasons include (3) above in addition to, among others, the need to acquire resources and capabilities to advance competencies at regional or global level. | Sources: Adapted from Dunning (1994) and Anyanwu (1998). Although opinions are divided among foreign investment theorists and analysts as to the actual benefits derivable from foreign investment by the recipient country/economy, there seems to be consensus that before a foreign investor decides to commit his or her money in a country order than his/her own, there must be in existence some motivating factors. In this wise, FDI as an issue of industrial organisation, is most likely to be undertaking if there is an ownership specific advantage. Thus, Dunning (1994) has argued that foreign private investment (FPI) is most likely if firms: 1. Possess ownership-specific advantages relative to the host country’s firms in sourcing markets; 2. Find it profitable to use these ownership-specific advantages themselves rather than to lease them to the host firms; and 3. Find it profitable to utilise their ownership-specific advantages in the host country rather than at home. This argument is an allusion to the fact that FDI is possible only when certain factors and conditions as listed above present themselves. Other writers either based on time series or cross sectional data for both developed and developing countries, (see Banga (2003); Obwona (1997); Tae-Hyon (1995); Leftwich (1973); Papanek (1973); Anyanwu (1998)) have argued that there are minimum economic and political factors that determine and act as incentives for the inflow of foreign investments into a country from abroad. For a foreigner to invest in a given country there must be in place a wide range of factors in the host country which Obwona (1997) listed to include; i. Availability and low cost of natural and human resources ii. Adequate infrastructure and support facilities iii. Large market size iv. Trade policy and other policies that affect macroeconomic stability v. Economic growth and development vi. Political stability In his argument, Tae-Hyon (1995) affirms that factors such as low inflationary pressure, stable exchange rate, liberalised interest rate and democratisation of a country’s policy are capable of positively influencing foreign investment into a country. He demonstrated how the capital inflow in Korea grew tremendously by over 501. 5 per cent in the 1970s due to sizeable market, rapidly growing GNP, a developed and productive infrastructure, an efficient and disciplined labour force, the abolishment of free export zones, and other policies in favour of investors in the local, heavy and chemical industries. Leftwich (1973) in an empirical investigation of the trend and determinants of foreign direct investment in the United States of America for the period 1962-1971 submits that of the three factors used, the size of the market of the host country contributed largely to FDI inflow while the rate of growth of the market and level of tariffs in the host country though contributed were not as significant as the former. Some of the benefits from FDI include the roles it plays in the process of raising aggregate investment in the receiving country at least in the short run. It has been argued that consistent and managed inflows of foreign investment provides an important source of foreign exchange earnings needed to supplement domestic savings and eventually augment local investment level (Chete, 1998). Writing in the same vein, Obadan (2004) argues that FDI has the potential to address the host country’s constraints of low levels of domestic investment and foreign exchange shortages. The fact is that inflows of foreign investment can only bring in foreign exchange, supplement domestic industries and reduce import bills if and only if such inflows are properly and well managed. Foreign investment also indirectly helps to regenerate the local economy of the host country through spurring increased investment in the local industries and by implication increase their capability to earn foreign exchange. Finally, Feldstein (2000), Loungani and Razin (2001) and Razin and Sadka (2002) noted that FDI actually increases the quantum of investments in and growth of the host country’s economy through the gains the host country derives from FDI. These are in the form of: i. Transfer of technology through new varieties of capital inputs which ordinarily cannot be achieved through either financial investments or trade in goods and services. ii. Human capital development which is gained through the training of employees in the course of operating the new businesses iii. Revenue generation through corporate tax and increase in GDP from the productive activities of the established companies. 3. Model Specifications Several authors have identified a number of factors that determine FDI {see Yakub (2005), Obadan (2004), Oyeranti (2003), Aremu (2003), Saggi (2002)}. Though these factors vary from author to author and from country to country, this particular study seeks to utilize some of these already identified factors to see if our results for Nigeria for the period under review will corroborate the findings of these previous writers. Nigeria has several features capable of attracting foreign investment inflows. For example, her large and virile population makes her a vastly attractive market (Odozi, 1995). She equally has abundant human and material resources including cheap labour and most recently political stability in the form of democratic governance. There is a consensus among development and political economists that a country that is stable politically has high prospects of attracting FDI. How stable a country’s polity is can be determined by several factors including the rate and nature of change of government in terms of number of coup d’etat, the rate of civil unrest and wars, the number of intra and inter-ethnic conflicts and so on. Several variables have been selected for empirical analysis in this study. One of such is the gross domestic product (GDP). It is used here as proxy for market size and level of economic development. This is in agreement with the general argument that GDP to a large extent determines the resource position and size of a nation’s market because of its ability and fluidity to allow for economies of scale (Anyanwu, 1998). Other factors included in this study are balance of trade (BOT), government expenditure, democratic government and government policy instruments. BOT measures the difference between imports and exports. As Fry (1983) puts it, a high BOT can discourage government from pursuing policies that are foreign investment friendly while low BOT encourages FDI. This might explain why the Nigerian government had in the past remained closed and uninterested on the issue of capital and income repatriation by foreigners because she enjoyed relative favourable BOT. With regard to democratic government, Odozi (1995), Anyanwu (1998) and Papanek (1992) separately argued that it measures the number of coup d’etats, ethnic conflicts or violence, wars and the type of governance which individually and collectively can determine the volume of FDI flows. Government policy options are qualitative in nature and as such we have assigned dummy values. For democratic government, the dummy value of zero (0) has been assigned to the periods of political interregnum while one (1) is assigned to years of democratic rule. Consequently, the years between 1979 and 1983, and 1999 and 2010 being periods of democratic rule have dummy one (1) while dummy zero (0) is assigned to the years/events between 1970 and 1978, and between 1984 and 1998 being periods of coup d’etats and military rule. For government policy regulations, dummy one (1) is assigned to 1982 and 1993 (period of stabilisation and SAP) and 1999 and 2010 (period of intense liberalisation and privatisation) while other years outside these periods shall be assigned zero (0). To facilitate our empirical analysis, the following statistical connotation need to be further expressed and defined. FDI = Foreign Direct Investment GDP = Gross Domestic Product BOT = Balance of Trade INF = Inflation GOVTEXP = Government Expenditure GOVTPol = Government Policy Dummy DEMGOVT = Democratic Government Dummy . 2. Regression Models Despite its various shortcomings, the simple regression equations as shown below have been employed to show the individual contributions of the separate factors to the facilitation of FDI inflows to Nigeria. Given the above, the models exhibit some linearity between the dependent variable (FDI) and the explanatory variables in line with the ‘naive’ Keynesian textbook model. Thus, our a priori expected signs are as follows: 4. Presentation and Analysis of Data 4. 1. Trend Analysis of Absolute Inflows of Private Capital to Nigeria (1970 – 2008) Table 2 presents Nigeria’s cumulative FDI flows for the period 1970 – 2008. It shows that gross FDI inflow rose stupendously in absolute terms from #251. 0 million in 1970 to an all time high of #54,254. 2 million in 2007 representing 216. 15 fold increases. However, with #37,777. 7 million in 2008, the rate of increase between 1970 and 2008 was 150. 51 fold increases. In the first decade (1970 – 1979), FDI inflows increased by a multiple of 280. 48% in absolute terms. Also in absolute terms, the second, third and forth decades recorded increases of 596. 73%, 38. 62%, 2310. 64%. However, all through the review period FDI inflows fluctuated and showed high variability particularly between 1981 and 2002 due mainly to some political turbulence and upheavals such as the anti-SAP and June-12 riots and adverse government policies. Generally, FDI inflows showed some relatively impressive increases in 1992, 1993, 1995, 1998, 2006 and 2007 in no particular order. Table 2: Flow of Non-Oil Foreign Private Capital in Nigeria from 1970 – 2008 (#’Million) Year| Total Inflow| Total Outflow| Total Net-flow| 1970| 251. 0| 129. 4| 121. 6| 1971| 489. 6| 170. 0| 319. 6| 1972| 432. 8| 184. 5| 248. 3| 973| 577. 8| 385. 2| 192. 6| 1974| 507. 1| 458. 8| 48. 3| 1975| 757. 4| 282. 0| 475. 4| 1976| 521. 1| 474. 8| 46. 3| 1977| 717. 3| 519. 7| 197. 6| 1978| 664. 7| 332. 9| 331. 8| 1979| 704. 0| 414. 1| 289. 9| 1980| 786. 4| 319. 4| 467. 0| 1981| 584. 9| 447. 1| 137. 8| 1982| 2,193. 4| 568. 5| 1,624. 9| 1983| 1,673. 6| 1,116. 9| 556. 7| 1984| 1,385. 3| 850. 5| 534. 8| 1985 | 1,423. 5| 1,093. 8| 329. 7| 1986| 4,024. 0| 1,524. 4| 2,499. 6| 1987| 5,110. 8| 4,430. 8| 680. 0| 1988| 6,236. 7| 4,891. 1| 1,345. 6| 1989| 4,692. 7| 5,132. 1| (439. 4)| 1990| 10,450. 2| 10,914. | (464. 3)| 1991| 5,610. 2| 3,802. 2| 1,808. 0| 1992| 11,730. 7| 3,461. 5| 8,269. 2| 1993| 42,624. 9| 9,630. 5| 32. 994. 4| 1994| 7,825. 5| 3,918. 3| 3,907. 2| 1995| 55,999. 3| 7,322. 3| 48,677. 0| 1996| 5,672. 9| 2,941. 9| 2,731. 0| 1997| 10,004. 0| 4,275. 0| 5,731. 0| 1998| 32,434. 5| 8,355. 6| 24,078. 9| 1999| 4,035. 5| 2,256. 4| 1,779. 1| 2000| 16,453. 6| 13,106. 6| 3,347. 0| 2001| 4,937. 0| 1,560. 0| 3,377. 0| 2002| 8,988. 5| 781. 7| 8,206. 8| 2003| 13,531. 2| 475. 1| 13,056. 1| 2004| 20,064. 4| 155. 7| 19,908. 7| 2005| 26,083. 7| 202. 4| 25,881. | 2006| 41,734. 0| 263. 1| 41,470. 7| 2007| 54,254. 2| 328. 8| 53,924. 8| 2008/1| 37,977. 7| 4,362. 5| 33,615. 2| /1 = Provisional Source: Central Bank of Nigeria Statistical Bulletin, 2008 (50 Years Special Anniversary Edition) Table 3 revea ls that FDI in Nigeria was once dominated by companies from the UK up till 1992. In 1993, companies from Western Europe took lead, followed by those from the USA. The dominance of FDI by Western Europe has remained till now (2008). The next in lead was the USA up until 1997. By 1998, U. K. took over the second position followed by USA and other countries in that order. This fluctuation was dictated by these countries’ foreign policies in relation to their perceive opinions of the foreign policy direction of the Nigeria. Table 3: Cumulative FDI in Nigeria by Country of Origin Year| United Kingdom| United States| Western Europe| Others| Total (#’Million)| | Amount(#’Million)| %| Amount(#’Million)| %| Amount(#’Million)| %| Amount(#’Million)| %| | 1970| 444. 4| 44. 3| 230. 0| 22. 9| 224. 8| 22. 4| 104. 0| 10. 4| 1,003. 2| 1971| 592. 0| 44. 8| 337. 4| 25. 5| 261. 0| 19. 7| 132. 4| 10. 0| 1,322. 8| 1972| 769. 7| 49. 0| 286. 6| 18. 2| 367. 0| 23. 4| 147. 8| 9. 4| 1,571. 1| 1973| 860. | 48. 8| 308. 0| 17. 5| 415. 2| 23. 5| 179. 6| 10. 2| 1,763. 7| 1974| 832. 8| 46. 0| 300. 0| 16. 6| 459. 8| 25. 4| 219. 5| 12. 1| 1,812. 1| 1975| 857. 5| 37. 5| 535. 2| 23. 4| 590. 1| 25. 8| 304. 7| 13. 3| 2,287. 5| 1976| 947. 2| 40. 5| 376. 2| 16. 1| 653. 1| 27. 9| 362. 5| 15. 5| 2,339. 0| 1977| 1,072. 8| 42. 4| 287. 2| 11. 3| 739. 0 | 29. 2| 432. 4| 17. 1| 2,531. 4| 1978| 1,195. 3| 41. 7| 342. 4| 12. 0| 847. 6| 29. 6| 477. 9| 16. 7| 2,863. 2| 1979| 1,103. 6| 35. 0| 565. 8| 17. 9| 976. 0| 31. 0| 507. 7| 16. 1| 3,153. 1| 1980| 1,421. 8| 39. 3| 566. 2| 15. 0| 1,107. 2| 30. 6| 524. 9| 14. 5| 3,620. | 1981| 1,429. 2| 38. 0| 438. 6| 11. 7| 1,350. 0| 35. 9| 540. 1| 14. 4| 3,757. 9| 1982| 1,993. 8| 37. 0| 1,171. 6| 21. 8| 1,557. 6| 28. 9| 659. 8| 12. 3| 5,382. 8| 1983| 2,606. 8| 43. 8| 873. 0| 16. 4| 1,684. 2| 28. 3| 685. 5| 11. 5| 5,949. 5| 1984| 3,043. 4| 47. 4| 964. 9| 15. 0| 1,659. 1| 25. 8| 750. 9| 11. 7| 6,418. 3| 1985| 3,594. 2| 52. 8| 860. 2| 12. 6| 1,601. 1| 23. 5| 748. 5| 11. 0| 6,804. 0| 1986| 5,073. 9| 54. 5| 1,381. 5| 14. 8| 1,828. 9| 19. 6| 1,029. 3| 11. 1| 9,313. 6| 1987| 5,508. 1| 55. 1| 1,198. 5| 12. 0| 2,053. 4| 20. 5| 1,233. 6| 12. 3| 9,993. 6| 1988| 4,724. 9| 41. 7| 2,734. | 24. 1| 2,512. 8| 22. 2| 1,366. 7| 12. 1| 11,339. 2| 1989| 6,254. 3| 57. 4| 642. 8| 5. 6| 2,440. 6| 22. 4| 1,561. 9| 14. 3| 10, 899. 6| 1990| 6,828. 6| 65. 4| 209. 3| 2. 0| 1,509. 7| 14. 5| 1,888. 5| 18. 1| 10,436. 1| 1991| 7,247. 6| 59. 2| (826. 7)| (6. 8)| 2,840. 1| 23. 2| 2,982. 3| 24. 4| 12,243. 5| 1992| 7,808. 0| 38. 1| 6,010. 1| 29. 3| 3,587. 1| 17. 5| 3,107. 4| 15. 1| 20,512. 7| 1993| 11,441. 3| 17. 1| 12,051. 8| 18. 0| 39,445. 8| 59. 0| 3,848. 1| 5. 4| 66,787. 0| 1994| 12,578. 0| 17. 8| 13,439. 4| 19. 0| 39,178. 4| 55. 4| 5,518. 8| 7. 8| 70,714. 6| 1995| 15,794. 1| 13. | 18,482. 9| 15. 5| 77,463. 4| 64. 9| 7,651. 3| 6. 4| 119,391. 6| 1996| 16,988. 9| 13. 9| 18,673. 2| 15. 2| 78,712. 7| 64. 5| 8,226. 2| 6. 7| 122,600. 9| 1997| 17,221. 5| 13. 4| 22,442. 0| 17. 5| 80,150. 3| 62. 4| 8,518. 2| 6. 8| 128,331. 8| 1998| 31,367. 9| 20. 6| 21,573. 6| 14. 2| 82,279. 2| 54. 0| 17,171. 8| 11. 3| 152,409. 6| 1999| 32,603. 5| 21. 1| 20,084. 1| 13. 0| 83,558. 3| 54. 2| 17,942. 7| 11. 6| 154,188. 6| 2000| 32,779. 3| 20. 8| 21,939. 6| 13. 9| 84,466. 1| 53. 6| 18,350. 4| 11. 7| 157,535. 4| 2001| 35,452. 3| 22. 0| 22,62 6. 6| 14. 1| 86,175. 1| 52. 5| 19,089. 4| 11. 8| 162,343. | 2002| 36,841. 4| 22. 1| 22,446. 9| 13. 5| 86,324. 4| 51. 8| 21,818. 9| 12. 6| 166,631. 6| 2003| 41,765. 6| 23. 4| 25,364. 8| 14. 2| 88,287. 9| 49. 5| 23,059. 7| 12. 6| 178,478. 0| 2004| 48,972. 1| 19. 7| 28,350. 9| 11. 4| 91,452. 2| 36. 1| 80,545. 4| 32. 4| 249,220. 6| 2005| 58,218. 2| 21. 6| 32,087. 5| 11. 9| 95,018. 1| 35. 2| 84,520. 9| 31. 3| 269,844. 7| 2006| 73,012. 0| 24. 1| 38,066. 0| 12. 6| 100,883. 5| 33. 3| 90,881. 8| 30. 0| 302,843. 3| 2007| 87,614. 4| 24. 1| 46,440. 5| 12. 8| 119,077. 8| 32. 7| 110,875. 8| 30. 5| 364,008. 5| 2008/1| 100,030. 7| 25. 2| 50,786. 6| 12. 9| 124,077. | 31. 2| 122,500. 6| 30. 8| 397,395. 2| /1 = Provisional Source: Central Bank of Nigeria Statistical Bulletin, 2008 (50 Years Special Anniversary Edition) Table 3 showcases the cumulative levels of net FDI in Nigeria by country of origin. From the 1970 value of #1,003. 2 million, the cumulative FDI in Nigeria rose stupendously to #397,395 . 2 million in 2008 in absolute terms representing an increase of 39,612. 76% increase over the 29 year period. There has been a consistent increase in the cumulative FDI despite the recorded fluctuations or decline in the percentages invested by the various countries. The point is that what is lost by a country is made up for by other countries thus maintaining the observed consistent increases. Table 4: Cumulative FDI in Nigeria Analysed by Type of Activity (#’Million) Year| Mining Quarrying| ManufacturingProcessing| Agriculture,Forestry Fishery| Transport Communication| BuildingConstruction| Trade BusinessServices| MiscellaneousServices| FDIGrand Total| 1970| 515. 4| 224. 8| 11. 2| 13. 8| 13. 8| 206. 6| 17. 6| 1,003. 2| 1971| 694. 0| 378. 8| 15. 4| 12. 0| 15. 4| 187. 2| 20. 0| 1,322. 8| 1972| 859. 7| 356. 6| 9. 4| 12. 2| 34. 3| 242. 7| 56. 2| 1,571. 1| 1973| 925. | 409. 0| 7. 4| 11. 6| 45. 0| 294. 7| 70. 2| 1,763. 7| 1974| 818. 1| 520. 4| 20. 7| 21. 9| 64. 2| 321. 3| 45. 5| 1,812. 1| 1975| 959. 6| 506. 2| 19. 2| 22. 8| 111. 2| 572. 4| 96. 1| 2,287. 5| 1976| 918. 9| 550. 7| 21. 9| 16. 2| 122. 5| 624. 8| 84. 0| 2,339. 0| 1977| 1,090. 8| 703. 8| 75. 0| 30. 6| 121. 4| 365. 5| 144. 3| 2,531. 4| 1978| 421. 3| 1,263. 4| 117. 6| 55. 6| 224. 3| 52 2. 5| 258. 5| 2,863. 2| 1979| 466. 8| 1,402. 5| 120. 8| 60. 5| 294. 3| 550. 5| 257. 7| 3,153. 1| 1980| 677. 4| 1,503. 9| 120. 5| 62. 2| 307. 8| 693. 2| 255. 1| 3,620. 1| 1981| 526. 0| 1,705. 7| 120. 5| 60. 8| 325. 9| 767. | 251. 8| 3,757. 9| 1982| 974. 0| 1,922. 5| 120. 5| 68. 9| 422. 5| 1,483. 6| 390. 8| 5,382. 8| 1983| 511. 2| 2,128. 1| 127. 8| 77. 3| 443. 9| 2,274. 9| 386. 3| 5,949. 5| 1984| 702. 8| 2,109. 3| 128. 5| 80. 6| 439. 0| 2,622. 5| 335. 6| 6,418. 3| 1985| 744. 0| 2,278. 1| 126. 0| 85. 9| 453. 2| 2,697. 9| 418. 9| 6,804. 0| 1986| 2,510. 4| 2,810. 2| 128. 2| 80. 4| 501. 6| 2,753. 0| 529. 8| 9,313. 6| 1987| 2,260. 2| 3,122. 3| 117. 3| 75. 6| 462. 6| 3,396. 5| 559. 1| 9,993. 6| 1988| 3,403. 0| 3,637. 0| 128. 9| 160. 6| 492. 7| 3,133. 7| 383. 3| 1,339. 2| 1989| 636. 7| 5,406. 4| 134. 8| 158. 2| 481. | 3,497. 2| 584. 7| 10,899. 6| 1990| 1,091. 6| 6,339. 0| 334. 7| 240. 5| 743. 6| 1,710. 4| (23. 7)| 10,436. 1| 1991| (810. 0)| 8,692. 4| 382. 8| 373. 2| 1,471. 6| 1,452. 2| 682. 0| 1 2,243. 5| 1992| 6,417. 2| 9,746. 3| 386. 4| 391. 5| 1,406. 6| 1,482. 5| 682. 2| 20,512. 7| 1993| 27,686. 9| 12,885. 1| 1,214. 9| 426. 4| 71. 2| 1,864. 5| 22,638. 0| 66,787. 0| 1994| 26,680. 0| 14,059. 9| 1,208. 5| 429. 6| 1,707. 0| 2,247. 6| 24,381. 1| 70,714. 6| 1995| 56,747. 3| 27,668. 8| 1,2090| 374. 8| 1,553. 0| 2,990. 7| 28,848. 0| 119,391. 6| 1996| 56,792. 3| 29,814. 3| 1,2090| 485. 6| 1,864. 3| 3,668. 7| 28,766. | 122,600. 9| 1997| 59,221. 4| 31,297. 2| 1,2090| 672. 6| 1,259. 8| 3,625. 7| 31,046. 2| 128,331. 8| 1998| 59,970. 5| 34,503. 9| 1,2090| 689. 2| 3,888. 3| 10,460. 5| 41,689. 5| 152,409. 6| 1999| 58,855. 4| 36,282. 1| 1,2090| 820. 3| 3,995. 9| 10,927. 3| 42,100. 4| 154,188. 6| 2000| 60,710. 9| 37,333. 6| 1,2090| 820. 3| 3,995. 9| 11,201. 3| 42,237. 6| 157,535. 4| 2001| 61,611. 9| 37,779. 6| 1,2090| 955. 3| 4,211. 9| 12,016. 3| 43,657. 6| 162,343. 4| 2002| 61,611. 9| 39,953. 6| 1,2090| 1,736. 3| 4,293. 9| 12,317. 3| 45,509. 6| 166,631. 6| 2003| 61,809. 1| 45,719. 4 | 1,2090| 2,890. 5| 4,545. 8| 14,457. 3| 49,056. | 178,478. 0| 2004| 61,145. 7| 102,995. 8| 1,2090| 4,281. 1| 5,194. 1| 20,242. 4| 53,571. 2| 249,220. 6| 2005| 80,789. 4| 133,894. 5| 1,2090| 5,565. 4| 6,713. 3| 26,315. 1| 69,642. 6| 269,844. 7| 2006| 105,668. 4| 212,729. 4| 1,209. 0| 8,291. 0| 10,461. 1| 41,309. 3| 102,780. 0| 302,843. 3| 2007| 132,085. 5| 219,512. 0| 1,329. 9| 10,758. 2| 12,030. 2| 47,505. 7| 129,277. 1| 364,008. 5| 2008/1| 140,497. 1| 229,764. 6| 1,397. 2| 11,383. 3| 12,702. 5| 50,194. 9| 140,370. 1| 397,395. 2| /1 = Provisional Source: Central Bank of Nigeria Statistical Bulletin 2005 and 2008 (50 Years Special Anniversary Edition) Table 4 shows how FDI has been distributed among the seven sectors of the economy. The investment levels of all the sectors increased during our review period with each sector having its particular boom and recessed periods depending on the policies of government. However, substantial increases were noticed beginning from 1993 in all the sub-sectors with no particular trend observed or be traced to any particular sector during the period except for miscellaneous services, Mining Quarrying and Manufacturing Processing which showed higher percentage increases at some points. Table 5: Components of Net Capital Flow by Country of Origin from 1970 – 2008 (#’Million) Year| United Kingdom| United States of America| Western Europe| Others| Total | 1970| 47. 4| 26. 4| 29. 6| 18. 2| 121. 6| 1971| 147. 6| 107. 4| 36. 2| 28. 4| 319. 6| 1972| 177. 7| (50. 7)| 106. 0| 15. 3| 248. 3| 1973| 91. 2| 21. 3| 48. 2| 31. 9| 192. 6| 1974| (28. 1)| (7. 9)| 44. 6| 39. 7| 48. 3| 1975| 24. 7| 235. 2| 130. 3| 85. 2| 475. 4| 1976| 84. 5| (159. 0)| 62. 9| 57. 9| 46. 3| 1977| 130. 8| (89. 0)| 85. 9| 69. 9| 197. 6| 1978| 122. 5| 55. 2| 108. 6| 45. 5| 331. 8| 1979| (91. 7)| 223. 4| 128. 4| 29. 8| 289. 9| 980| 318. 2| 0. 4| 131. 2| 17. 2| 467. 0| 1981| 7. 4| (128. 1)| 242. 8| 15. 2| 137. 3| 1982| 564. 6| 733. 0| 207. 6| 119. 7| 1,624. 9| 1983| 615. 0| (200. 6)| 116. 6| 25. 7| 556. 7| 1984| 500. 0| (6. 1)| (25. 1)| 65. 4| 534. 8| 1985| 484. 8| (94. 7)| (59. 0)| (2. 4)| 329. 7| 1986| 1,479. 7| 511. 3| 227. 8| 280. 8| 2,499. 6| 1987| 434. 2| (183. 0)| 224. 5| 204. 3| 680. 0| 1988| (783. 2)| 1,536. 3| 459. 4| 133. 1| 1,345. 6| 1989| 1,529. 6| (2,092. 0)| (72. 2)| 195. 2| (439. 4)| 1990| 573. 5| (433. 5)| (930. 9)| 326. 6| (464. 3)| 1991| 419. 5| (1,035. 9)| 1,330. 2| 1,094. 2| 1,808. 0| 1992| 560. 4| 6,836. | 747. 4| 124. 5| 8,269. 2| 1993| 3,633. 3| 6,041. 8| 22,558. 2| 761. 1| 32,994. 4| 1994| 1,136. 7| 1,387. 6| (267. 4)| 1,650. 3| 3,907. 2| 1995| 3,216. 1| 5,043. 5| 38,285. 0| 2,132. 5| 48,677. 0| 1996| 1,194. 8| (288. 2)| 1,249. 4| 575. 0| 2,731. 0| 1997| 232. 6| 3,768. 7| 1,437. 6| 292. 0| 5,730. 9| 1998| 14,146. 4| (868. 4)| 2,147. 0| 8,653. 8| 24,078. 8| 1999| 1,235. 6| (1,489. 5)| 1,261. 0| 771. 9| 1,779. 1| 2000| 175. 8| 1,885. 6| 907. 7| 407. 9| 3,347. 0| 2001| 2,673. 7| (490. 0)| 738. 9| 451. 0| 3,377. 0| 2002| 4,027. 9| 1,761. 2| 1,300. 3| 1,116. 1| 8,205. 5| 2003| 6,045. 6| 2,918. 4| 2,161. | 1,930. 7| 13,056. 5| 2004| 7,206. 6| 2,986. 6| 3,065. 0| 6,650. 9| 19,909. 1| 2005| 9,368. 6| 3,882. 6| 3,984. 5| 8,646. 2| 25,881. 8| 2006| 14,989. 7| 6,212. 1| 6,375. 2| 13,893. 8| 41,470. 8| 2007| 19,620. 3| 8,085. 4| 8,369. 1| 17,967. 1| 54,041. 9| 2008/1| 12,590. 0| 3,103. 4| 6,006. 1| 11,958. 1| 33,657. 6| /1 = Provisional Source: Central Bank of Nigeria Statistical Bulletin, 2008 (50 Years Special Anniversary Edition) 4. 2. Presentation, Analysis and Discussion of Regression Results Model one is consistent with our a priori expectation of a positive relationship between GDP and FDI. The results show that the regression coefficient of GDP is 0. 017892 which implies that this quantity of increase in GDP yields a one unit increase in FDI. In other words, if GDP increases or changes by say about eighteen thousand naira (#18,000), FDP would increase or change in sympathy by a whopping one million naira (#1,000,000). This means that over our review period, GDP impacted so much on the inflows of FDI to the country. 1. FDI = 233690. 0 + 0. 017892GDP + Â µ (63399. 9) (0. 0039501) Note: The figures in parenthesis in the fitted estimated model are the standard errors. R2 = 0. 98270 DW = d* = 1. 778 @ 5% Significance level t* = 3. 476 tt(0. 0025) = 2. 042 at 5% significance level The test of goodness of fit shows that the coefficient of determination (R2) is equal to 0. 98270. These results reveal that 98. 3 per cent of the total increases in FDI are explained by the increases in GDP. The test of significance of the parameter estimate employing a 5% significance level usin g a two-tail test shows that our GDP is statistically significant in explaining the increases in FDI over the review period as the calculated t-test vale of 3. 48 is greater than the tabulated t-statistics value of 2. 04. 2. FDI = 55815. 2 + 0. 1295BOT + Â µ (12001. 4) (0. 018954) Note: The figures in parenthesis in the fitted estimated model are the standard errors. Model two is consistent with our a priori expectation and it shows that a 0. 11298 increase in BOT spurs a one per cent increase in FDI. In other words, if BOT increases or changes by one hundred and twelve thousand, nine hundred and fifty naira (#112,950), FDI would in sympathy increase or change by one million naira (#1,000,000). R2 = 0. 49660 DW = d* = 0. 20697 @ 5% Significance level t* = 5. 9593 tt(0. 0025) = 2. 042 at 5% significance level From the result of the goodness of fit, R2 = 0. 9660. Therefore, the total variation in FDI as a result of the variation in BOT is 49. 7 per cent. Employing a two-tail test at 5% level of significance with the degree of freedom of 37, the t-test shows that BOT is statistically significant in explaining the quantity of FDI that came into this country during the review period as t* = 5. 96 tt = 2. 04. 3. FDI = 87710. 9 699. 78INF + Â µ (25534. 4) (987. 08) Note: The figures in parenthesis in the fitted estimated model are the standard errors. R2 = 0. 013769 DW = d* = 0. 059708 @ 5% Significance level t* = -0. 70895 tt(0. 0025) = 2. 42 at 5% significance level Model three is inconsistent with our a priori expectation of positive relationship between inflation and FDI. The result reveals that a decrease of INF by 699. 8 units causes the FDI to increase by one unit. This means that there is an inverse relationship between Inflation and FDI. The result also reveals that the proportion of the increase or change observed in FDI over the review period as a result of changes in Inflation was approximately 1. 4 per cent. The t-test result shows that inflation was statistically insignificant in explaining the inflow of FDI during this period as t* = -0. 09 tt = 2. 04. 4. FDI = 14436. 1 + 0. 15665GOVTEXP + Â µ (4784. 3) (0. 0066827) Note: The figures in parenthesis in the fitted estimated model are the standard errors. R2 = 0. 93851 DW = d* = 0. 78725 @ 5% Significance level t* = 23. 44101 tt(0. 0025) = 2. 042 at 5% significance level Model 4 is a test result of the relationship between government expenditure and FDI. The result is consistent with our a priori expectation of positive relationship between FDI and government expenditure. A unit increase in FDI is as a result of every 0. 157 increase in government expenditure. In other words, if government expenditure increases or changes by one hundred and fifty-six thousand, six hundred and fifty naira (#156,650), FDI would in sympathy increase or change by one million naira (#1,000,000). The coefficient of determination R2 yielded 0. 93851 meaning that the proportion of the total increases in FDI observed during the review period is explained by a unit increase in government expenditure. The result of the t-test equally reveals that government expenditure is statistically significant in explaining the inflows of FDI to Nigeria during the period as t* = 23. 44 tt = 2. 04. 5. FDI = 32320. + 112462. 3DEMGOVT + Â µ (17178. 1) (28301. 1) Note: The figures in parenthesis in the fitted estimated model are the standard errors. R2 = 0. 30490 DW = d* = 0. 20895 @ 5% Significance level t* = 3. 97381 tt(0. 0025) = 2. 042 at 5% significance level Model five is consistent with our a priori expectation and it shows that a 112462. 3 increase in democratic government spurs a one unit increase in FDI. In other words, democratic governance causes a greater inflow of FDI. From the results, there was higher inflow of FDI during the period of democratic government in Nigeria than the military period over the review period. From the result of the goodness of fit, R2 = 0. 30490. Therefore, the total variation in FDI as a result of the variation in government is 30. 5 per cent. Employing a two-tail test at 5% level of significance with the degree of freedom of 37, the t-test shows that democratic government was statistically significant in explaining the quantity of FDI that came into this country during the review period as t* = 3. 97 tt = 2. 04. 6. FDI = -11263. 5 5350. 6GOVTPol + Â µ (24969. 4) (6419. 2) Note: The figures in parenthesis in the fitted estimated model are the standard errors. R2 = 0. 7842 DW = d* = 1. 9087 @ 5% Significance level t* = -0. 83354 tt(0. 0025) = 2. 042 at 5% significance level Model six is inconsistent with our a priori expectation of positive relationship between government policies and FDI. In this model, there is an inverse relationship between government policies and FDI. The result reveals that an unfavourable change in government policies causes the FDI to change al so. The result also reveals that the proportion of the increase or change observed in FDI over the review period as a result of changes in government policies was approximately 97. 8 per cent. The t-test result shows that government policy was statistically insignificant in explaining the inflow of FDI during this period as t* = -0. 834 tt = 2. 04. In line with the findings of studies conducted at various times by previous writers (see for example Chete, 1998; Obadan, 2004; Oyeranti, 2003; Akinkugbe, 2003; Asiedu, 2002; Anyanwu, 1998; Dunning, 1994; Yauri, 2006), this study finds that the GDP, BOT, democratic government and government expenditure contributed immensely and were statistically significant in explaining the inflow of FDI in Nigeria over the period under review. Conversely, government policies and inflation exhibited inverse relationship with FDI and proved to be statistically insignificant to the observed growth in FDI over the period. The former can be justified, inter alia, by the increases in the level of economic activities including ICT. It can also be explained by some pragmatic economic reforms undertaken in the banking sector by the Central Bank of Nigeria (CBN) which is gradually winning back the confidence of investors. There is equally the issue of relative stable polity (government) beginning from 1999 as supported by the result of our regression analysis. Government during the period under study took stringent steps at removing trade barriers by consummating the privatization and commercialisation policies as enshrined in the SAP-project. 5. Conclusion and Recommendations In this study, we have established that GDP as proxy for economic growth, government expenditure, BOT and democratic government had positive influences on FDI inflows. We have also demonstrated that inflation and government policies exhibited inverse relationships with FDI. The reasons for these two scenarios have also been highlighted. Admittedly, our findings corroborate the findings of previous studies as listed earlier. Based on our findings, we recommend that the present administration of President Jonathan must improve on the existing political climate as a matter of urgency and establish a conducive environment that is investment friendly which is devoid of arson, terrorism and bomb blast as is currently the case in the northern part of Nigeria if the country is to sustain and build on the present temple of enthusiasm and gains already achieved. Government must encourage and use appropriate policies to redirect the FDI inflows to the real sectors of the economy rather than the service and consumer goods subsectors as is the present case. It is only by so doing that Nigeria can accumulate capital formation and re-engineer the productive sector of the economy. Government needs to be more consistent with its policy formulation and execution as this has the potency and capacity to either increase or wane the level of confidence of would-be foreign investors. Finally, there is the need for government to diversify the economy, reinvigorate the non-oil export activities and undertake a comprehensive review of the on-going restructuring of investment policies of government so as to divesting and privatising PHCN, NNPC and many more of their type for efficiency and eliminate wastage in our public enterprises. References Ake, C. (1978), Revolutionary Pressures in Africa, Zed Press, London. Akinkugbe, O. (2003), Flow of Foreign Direct Investment to Hitherto Neglected Developing Countries, Wider Discussion Paper Vol. 2. Anyanwu, J. C. 1998), An Econometric Investigation of the Determinants of Foreign Direct Investment in Nigeria, (eds) Rekindling Investment for Economic Development in Nigeria, The Nigerian Economic Society’s Annual Conference Papers. Aremu, J. A. (2003), An Overview of Foreign Private Investment in Nigeria, in Nnanna, O. J. et al (eds) Foreign Direct Investment in Nigeria, proceedings of the 12th Annual Conference of th R egional Research Units of the Central Bank of Nigeria Asiedu, E. (2002), Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different? World Development, Vol. 30, No. 11. Chete, L. N. (1998), Determinants of Foreign Direct Investment in Nigeria: An Error Correlation Specification, Nigerian Journal of Economic and Social Studies (NJESS), Vol. 40, No. 1, March. Deepak, M. et al (2001), Private Capital Flows and Growth, Finance and Development, World Bank Research observer, IMF Publications, June. Dunning, J. H. (1994), Re-evaluating the benefits of Foreign Direct Investment, Transnational Corporations, Vol. 3, No. 1, February. Feldstein, M. (2000), Aspects of Global Economic Integration: Outlook for the Future, NBER Working Paper Number 7899, National Bureau of Economic Research: Cambridge. Fry, E. H. (1983), The Politics of International Investment in Less Developed Countries, McGraw-Hill Book Company. Igudia, P. O. (1998), A Trend Analysis of Foreign Investment in Nigeria from 1975 to 1994, An unpublished MBA Dissertation of the University of Benin, Benin City. Loungani, P. and Razin, A. (2001), How Beneficial is Foreign Direct Investment for Developing Countries? Finance and Development, World Bank Research observer, IMF Publications, June. Obadan, M. I. (2004), Foreign Capital Flows and External Debt: Perspective on Nigeria and the LDCs Group, Broadway Press Limited Lagos. Obwona, M. B. (1997), Investment, Aid and Growth in Uganda, Economic Policy Research Bulletin, Vol. 3, No. 2, September, pp 15 – 29. Odozi, V. A. (1995), An Overview of Foreign Investment in Nigeria: 1960 – 1995, CBN Research Department occasional paper, No 11, June 1. Oyeranti, O. A. (2003), Foreign Private Investment: Conceptual and Theoretical Issues, in Nnanna, O. J. et al (eds), Foreign Private Investment in Nigeria, Proceedings of the Twelveth Annual Conference on the Regional Research Unit, CBN Papanek, G. F. 1992), Aid, Foreign Private Investment, Savings and Growth in Less Developed Countries, Journal of Political Economy, Vol. 81, No 2. Papanek, G. F. (1973), The Effects of Aid and other Resource Transfers on Savings and Growth in Less Developed Countries, Economic Journal, Vol. 82, No 2. , September. Razin, A. and Sadka, E. (2002), Labour, Capital and Finance: International flows, Cambridge university press, England. Saggi, K. (2002), Trade, Foreign Direct In vestment, and International Technology Transfer: A Survey, The World Bank Research Observer, Vol. 17, No. 2, pp191-235 Tae-Hyon, C. 1995), Foreign Direct Investment in Korea: Recent Trends and Changes to Improve the Investment Environment, Korea Exchange Bank Quarterly, First Quarter. Voivodas, C. S. (1973), Exports, Foreign Capital and Economic Growth, Journal of International Economics, Vol. 3, No. 4. Wendt, H. (1993), Global Embrace, Harper Business, New York. World Bank (1996), World debt Tables: External Finance for Developing Countries, Vol. 1, Washington, D. C. Yauri, N. M. (2006), Foreign Direct Investment and Technology Transfer to Nigerian Manufacturing Firms – Evidence from Empirical Data, Economic and Financial Review, Central Bank of Nigeria, Vol. 4, No. 2, June. Yakub, M. U. (2005), Foreign Direct Investment (FDO) Flows to Nigeria: Issues, Challenges and Prospects, CBN Bullion Publication, Vol. 29, No. 4, Oct/Nov, pp54 64. Appendix 1 Factors used in the Regress ion Analysis of the Determinants of FDI in Nigeria Between 1970 2008 Year| FDI(#’ Million)/4| GDP(#’ Million)/3| Total Govt Expenditure(#’Million)/5| Inflation(annual Rate %)/2| BOT(#’ Million)/6| Demo Govt(Dummy)/7| Govt Policy(Dummy)/8| 1970| 1,003. 2| 4,219. 0| 903. 90| 13. 8| 46. 6| 0| 0| 1971| 1,322. 8| 4,715. 5| 997. 20| 16. 0| 117. 4| 0| 0| 1972| 1,571. | 4,892. 8| 1,463. 60| 3. 2| 57. 2| 0| 0| 1973| 1,763. 7| 5,310. 0| 1,529. 20| 5. 4| 197. 5| 0| 0| 1974| 1,812. 1| 15,919. 7| 2,740. 60| 13. 4| 3,102. 2| 0| 0| 1975| 2,287. 5| 27,172. 0| 5,942. 60| 33. 9| 157. 5| 0| 0| 1976| 2,339. 0| 29,146. 5| 7,856. 70| 21. 2| (339. 0)| 0| 0| 1977| 2,531. 4| 31,520. 3| 8,823. 80| 15. 4| (527. 2)| 0| 0| 1978| 2,863. 2| 29,212. 4| 8,000. 00| 16. 6| 1,293. 6| 0| 0| 1979| 3,153. 1| 29,948. 0| 7,406. 70| 11. 8| 1,868. 9| 1| 0| 1980| 3,620. 1| 31,546. 8| 14,968. 60| 9. 9| 2,402. 2| 1| 0| 1981| 3,757. 9| 205,222. 1| 11,413. 70| 20. | (3,020. 8)| 1| 0| 1982| 5,382. 8| 1 99,685. 3| 11,923. 20| 7. 7| (1,398. 3)| 1| 1| 1983| 5,949. 5| 185,598. 1| 9,635. 70| 23. 2| (301. 3)| 1| 1| 1984| 6,418. 3| 183,563. 0| 9,927. 60| 39. 6| 354. 9| 0| 1| 1985| 6,804. 0| 201,036. 3| 13,041. 10| 5. 5| 349. 1| 0| 1| 1986| 9,313. 6| 205,971. 4| 16,223. 70| 5. 4| (784. 3)| 0| 1| 1987| 9,993. 6| 204,806. 5| 22,018. 70| 10. 2| 159. 2| 0| 1| 1988| 11,339. 2| 219,875. 6| 27,749. 50| 38. 3| (2,294. 1)| 0| 1| 1989| 10,899. 6| 236,729. 6| 41,028. 10| 40. 9| 8,727. 8| 0| 1| 1990| 10,436. 1| 267,550. 0| 60,268. 20| 7. | 18,498. 2| 0| 1| 1991| 12,243. 5| 265379. 1| 66,584. 40| 13. 0| 5,959. 6| 0| 1| 1992| 20,512. 7| 271,365. 5| 92,797. 40| 44. 5| (65,271. 8)| 0| 1| 1993| 66,787. 0| 274,833. 3| 54,501. 80| 57. 2| 13,615. 9| 0| 1| 1994| 70,714. 6| 275,450. 6| 160,893. 20| 57. 0| (42,623. 3)| 0| 0| 1995| 119,391. 6| 281,407. 4| 248,768. 10| 72. 8| (195,316. 3)| 0| 0| 1996| 122,600. 9| 293,745. 4| 337,417. 60| 29. 3| (53,152. 0)| 0| 0| 1997| 128,331. 8| 302,022. 5| 428,215. 20| 8. 5| 1 ,076. 3| 0| 0| 1998| 152,409. 6| 310,890. 1| 487,113. 40| 10. 0| (220,675. 1)| 0| 0| 1999| 154,188. | 312,183. 5| 947,690. 00| 6. 6| (326,634. 3)| 1| 1| 2000| 157,535. 4| 329,178. 7| 701,050. 90| 6. 9| 314,139. 2| 1| 1| 2001| 162,343. 4| 356,994. 3| 1,017,996. 50| 18. 9| 24,738. 7| 1| 1| 2002| 166,631. 6| 433,203. 5| 1,018,178. 10| 12. 9| (565,353. 3)| 1| 1| 2003| 178,478. 0| 477,533. 0| 1,225,988. 30| 14. 0| (162,839. 7)| 1| 1| 2004| 249,220. 6| 527,576. 0| 1,384,000. 00| 15. 0| 1,128,379. 4| 1| 1| 2005| 269,844. 7| 561,931. 4| 1,743,200. 00| 17. 9| 1,364,845. 5| 1| 1| 2006| 302,843. 3| 595,821. 6| 1,842,587. 70| 8. 2| 2,406,340. 6| 1| 1| 2007| 364,008. 5| 634,251. | 2,348,593. 00| 5. 4| 2,379,064. 7| 1| 1| 2008/1| 397,395. 2| 674,889. 0| 3,078,300. 00| 11. 6| 3,482,276. 4| 1| 1| /1 = Provisional /2 = 1970-2005 extracted from National Bureau of Statistics 2006-2008 extracted from CBN Statistical Bulletin /3 = GDP at Current Basic Prices Sources:Central Bank of Nigeria Statistical B ulletin 2008 (50 Years Special Anniversary Edition) and National Bureau of Statistics,2006 Appendix 2: Results of the Regression Analysis of the Estimated Determinants of FDI in Nigeria from 1970 2008 Explanatory Variables| Equations | 1| 2| 3| 4| 5| 6| Constant| 23369| 55815. 2| 87710. 9| 14436. 1| 104738. 3| -11263. 5 | GDP| 0. 01789**| | | | | | BOT| | 0. 11295**| | | | | INF| | | -699. 785*| | | | GOVTEXP| | | | 0. 15665***| | | DEMGOVT| | | | | 112462. 3**| | GOVTPol| | | | | | 5350. 6*| R2 t-StatisticsD. W. Stat| 0. 885023. 476022056| 0. 496605. 95930. 20697| 0. 013769-0. 708950. 059708| 0. 9385123. 441010. 78725| 0. 030543. 973810. 096085| 0. 304. 90-0. 833540. 20895| Note: *** = Strongly statistically significant; ** = Statistically significant * = Statistically insignificant