FDI, TECHNOLOGY TRANSFER AND THE NIGERIAN EXPERIENCE

摘要

Technology transfer (TT) is, as known, an application of knowledge in the form of skills, technical know-how, design, machinery and other capital equipment in a new ground. FDI as a channel of intellectual technology transfer (ITT) which is investment made to acquire a lasting management and interest of asset in a domicile. Domestic investment (DI), human capital and the degree of openness are crucial variables used in this study mechanism. The belief and acceptance of the twin concept of FDI and TT as a tool for economic growth and convergence in LDC has been on the upsurge to the extent of it been a regular item in macroeconomic policy objectives and object of desired attainment. It is now a debate if exogenous or endogenous factors drives economic growth. Our objective for this research is to present the trend and ascertain the impact of FDI, technology transfer and openness of the Nigerian economy against domestic investment and the available human capital resource on economic growth.rnAnalytical measure was used to present the trend of the variables and econometric methodology was used to provide empirical evidence on the impact of endogenous and exogenous variable in the Nigeria context.rnConclusions from the findings were that domestic and external variables constitute economic growth drivers. Furthermore, human capital is crucial for both domestic and foreign investment to strive. Technology transfer (TT) causes economic growth but international channels of TT does not favor economic growth. Similarly, degree of openness is not what favors channel; rather channels like University Industry (U-I) TT, better technology pricing and taking intellectual properties to the market will propel economic growth. However, as macroeconomic activities increases, there is the need for deliberate effort geared towards increasing human capital investment and good foreign policies to make the foreign scene more additive to economic growth in the country.