Effect of Economic Globalization on Business Operations in Developing Countries: Nigeria’s Perspective

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Effect of Economic Globalization on Business Operations in Developing Countries: Nigeria’s Perspective

The study examined the effect of Economic Globalization on Business Operations in Developing Countries: Nigeria’s Perspective. The specific objectives of the study were; Technology and International trade in business operations in developing countries. An ex-post facto research design was adopted for the study. Data for the study was secondary data obtained from CBN statistical bulletin. The statistical tool used for the analysis is Autoregressive Distributed LaModelel (ARDL). With an emphasis on the econometric computer software package (EViews version 10.0.), Augmented Dickey-Fuller test. The variable was explained using descriptive statistics and ADF Stationarity Test. The result reviewed that, nanny equilibrium in this system takes about 82.164% to adjust from the short run to the long run. The R square suggests that the model has a good fit which is 67.8089%. The estimated result, in the long run, suggests that international trade and technology are not statistically significant at the 5% level of significance. The coefficient of international trade and technology are 16197.49 and -6506.015 respectively. Therefore, we conclude that there is no significant effect of international trade and technology on the real gross domestic product in Nigeria. The federal government should endeavor to improve on technology and set standards for all international trade to empower our producers to compete in the international community.

Keywords: Economic Globalization; Business Operations; Developing Countries

Authorship: Okechukwu, E. U. PhD, Uba, L. C., Egbo, D. E. and Nworgu, N. O. | Full PDF

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