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The Impact Of Globalization On Industrial Growth Of Nigeria (1985-2011)
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1.5 RESEARCH HYPOTHESIS
1. globalization has no significant impact on industrial output in Nigeria
2. export has no significant impact on the Nigeria industrial sector
3. foreign direct investment and exchange rate has no significant impact on the growth of Nigerian industries
1.6 SIGNIFICANT OF THE STUDY
The
economic relevance of studying the impact of globalization on the
industrial growth of Nigeria needs not to be over emphasized.
Globalization has brought rapid change in Nigerian economy that seeks to
increase their share of financial and direct investment in the
globalization market.
Globalization provides economic independence
and triggers competition, stimulating globalization to elevate the
living standard of people in the nation that offer themselves to the
world trade, “We have moved from a world where the big eat the small to a
world where the fast eat the slow†as observed by Klaw Schwas of the
Dawob world economic living standard of people have considerably
improved through the market growth within the development in technology
is not only a stady incrasing demands but also it has led to greater
utilization.
The result of the study will also be significant in the following way:
1.
though the help of globalization, there has been easy and accessible
communication network which facilitate production, distribution of goods
and services both domestically and international
2. Globalization
has rapidly improves the social and economic status of women in the
developing world. The explanation is based on the fact that in a
competitive, globalization world, the role of women becomes even more
valuable.
3. Globalization breaks the regressive taboos responsible
for discriminating against people on basis of gender, race or religious
beliefs and it is an antidote to the intolerant fundamentalism that
appear to oppress million of the worlds poorest, globalization offers
hope that one day they may enjoy the fruit of the west liberal
tradition.
4. Globalization has help in the reduction of likelihood
for war between developed nations. It has also help to increase
environmental protection in developed nations.
Finally, another
factor which is often considered as a positive outcome of globalization
is the lower inflation. This is be cause the market rivalry stops the
businesses from increasing prices unless guaranteed by steady
productivity. Technological advancement and productivity expansion are
two other importance of globalization because since (1970s) growing
internationals rivalry has triggered the industries to improve
increasingly.
1.7 SCOPE AND LIMITATION OF THE STUDY
The study covers the growth of the Nigerian industrial sector between (1985-2011).
The
research work has been contained by lack of fund, insufficient data
especially on very recent economic performance and limited period of
time to get enough research materials.
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