{"id":"https://openalex.org/W7204192022","doi":"https://doi.org/10.32479/eees.24528","title":"Revisiting the Inflation\u2013FDI Nexus in Nigeria: Long-Run and Short-Run Evidence from Multiple Price Indicators","display_name":"Revisiting the Inflation\u2013FDI Nexus in Nigeria: Long-Run and Short-Run Evidence from Multiple Price Indicators","publication_year":2026,"publication_date":"2026-06-30","ids":{"openalex":"https://openalex.org/W7204192022","doi":"https://doi.org/10.32479/eees.24528"},"language":null,"primary_location":{"id":"doi:10.32479/eees.24528","doi":"https://doi.org/10.32479/eees.24528","is_oa":true,"landing_page_url":"https://doi.org/10.32479/eees.24528","pdf_url":"https://econjournals.com/index.php/eees/article/download/24528/10400","source":{"id":"https://openalex.org/S7407062962","display_name":"Energy Environment and Economic Studies","issn_l":"3149-8477","issn":["3149-8477"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310318345","host_organization_name":"EconJournals","host_organization_lineage":["https://openalex.org/P4310318345"],"host_organization_lineage_names":["EconJournals"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Energy Environment and Economic Studies","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://econjournals.com/index.php/eees/article/download/24528/10400","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5059709398","display_name":"Kenechukwu K. Ede","orcid":"https://orcid.org/0000-0002-5337-6170","observed_orcids":["https://orcid.org/0000-0002-5337-6170"]},"institutions":[{"id":"https://openalex.org/I3131422684","display_name":"Godfrey Okoye University","ror":"https://ror.org/04japw488","country_code":"NG","type":"education","lineage":["https://openalex.org/I3131422684"]}],"countries":["NG"],"is_corresponding":false,"raw_author_name":"Kenechukwu K. Ede","raw_affiliation_strings":["Department of Economics, Godfrey Okoye University, Nike, Enugu State, Nigeria,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, Godfrey Okoye University, Nike, Enugu State, Nigeria,","institution_ids":["https://openalex.org/I3131422684"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5044673897","display_name":"Charles O. Manasseh","orcid":"https://orcid.org/0000-0001-9937-6208","observed_orcids":["https://orcid.org/0000-0001-9937-6208"]},"institutions":[{"id":"https://openalex.org/I11892038","display_name":"University of Nigeria","ror":"https://ror.org/01sn1yx84","country_code":"NG","type":"education","lineage":["https://openalex.org/I11892038"]}],"countries":["NG"],"is_corresponding":false,"raw_author_name":"Charles O. Manasseh","raw_affiliation_strings":["Department of Banking and Finance, University of Nigeria, Enugu Campus, Nigeria,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Banking and Finance, University of Nigeria, Enugu Campus, Nigeria,","institution_ids":["https://openalex.org/I11892038"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5141030399","display_name":"Onoja W. Sidi","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I11892038","display_name":"University of Nigeria","ror":"https://ror.org/01sn1yx84","country_code":"NG","type":"education","lineage":["https://openalex.org/I11892038"]}],"countries":["NG"],"is_corresponding":false,"raw_author_name":"Sidi W. Onoja","raw_affiliation_strings":["Department of Banking and Finance, University of Nigeria, Nsukka, Enugu, Nigeria,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Banking and Finance, University of Nigeria, Nsukka, Enugu, Nigeria,","institution_ids":["https://openalex.org/I11892038"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5147339037","display_name":"Cajetan C. Anuforo","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Cajetan C. Anuforo","raw_affiliation_strings":["Department of Economics and Development Studies, University On the Niger, Umunya, Anambra State, Nigeria,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics and Development Studies, University On the Niger, Umunya, Anambra State, Nigeria,","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5115528903","display_name":"Nkechi Caroline Nkwonta","orcid":"https://orcid.org/0000-0003-2849-9715","observed_orcids":["https://orcid.org/0000-0003-2849-9715"]},"institutions":[{"id":"https://openalex.org/I11892038","display_name":"University of Nigeria","ror":"https://ror.org/01sn1yx84","country_code":"NG","type":"education","lineage":["https://openalex.org/I11892038"]}],"countries":["NG"],"is_corresponding":false,"raw_author_name":"Nkechi C. Nkwonta","raw_affiliation_strings":["Department of Management, University of Nigeria, Nsukka, Enugu, Nigeria,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Management, University of Nigeria, Nsukka, Enugu, Nigeria,","institution_ids":["https://openalex.org/I11892038"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5119072795","display_name":"Obiageli Gloria Akamobi","orcid":"https://orcid.org/0009-0006-3808-4846","observed_orcids":["https://orcid.org/0009-0006-3808-4846"]},"institutions":[{"id":"https://openalex.org/I121708413","display_name":"Chukwuemeka Odumegwu Ojukwu University","ror":"https://ror.org/018ze3r73","country_code":"NG","type":"education","lineage":["https://openalex.org/I121708413"]},{"id":"https://openalex.org/I4405259477","display_name":"Chukwuemeka Odumegwu Ojukwu University, Igbariam Campus","ror":"https://ror.org/029x2tx62","country_code":"NG","type":"education","lineage":["https://openalex.org/I121708413","https://openalex.org/I4405259477"]}],"countries":["NG"],"is_corresponding":false,"raw_author_name":"Obiageli G. Akamobi","raw_affiliation_strings":["Department of Economics, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Nigeria"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Nigeria","institution_ids":["https://openalex.org/I121708413","https://openalex.org/I4405259477"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":4,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.66501323,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"2","issue":"2","first_page":"17","last_page":"32"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.002099999925121665,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.9929999709129333},{"id":"https://openalex.org/keywords/foreign-direct-investment","display_name":"foreign direct investment","score":0.9990000128746033},{"id":"https://openalex.org/keywords/nigeria","display_name":"Nigeria","score":0.7910000085830688},{"id":"https://openalex.org/keywords/price-stability","display_name":"price stability","score":0.6539999842643738},{"id":"https://openalex.org/keywords/exchange-rate-stability","display_name":"exchange rate stability","score":0.8119999766349792},{"id":"https://openalex.org/keywords/output-growth","display_name":"output growth","score":0.7390000224113464},{"id":"https://openalex.org/keywords/inflation-control","display_name":"inflation control","score":0.5569999814033508},{"id":"https://openalex.org/keywords/monetary-policy-credibility","display_name":"monetary policy credibility","score":0.9319999814033508},{"id":"https://openalex.org/keywords/investor-confidence","display_name":"investor confidence","score":0.746999979019165},{"id":"https://openalex.org/keywords/long-run-and-short-run-effects","display_name":"short-run and long-run effects","score":0.7329999804496765}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.853600025177002},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.6938999891281128},{"id":"https://openalex.org/C148609458","wikidata":"https://www.wikidata.org/wiki/Q7021281","display_name":"Nexus (standard)","level":2,"score":0.6758000254631042},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.6710000038146973},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.6226999759674072},{"id":"https://openalex.org/C185782297","wikidata":"https://www.wikidata.org/wiki/Q2142538","display_name":"Relative price","level":2,"score":0.5503000020980835},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.5282999873161316},{"id":"https://openalex.org/C159009313","wikidata":"https://www.wikidata.org/wiki/Q5283159","display_name":"Distributed lag","level":2,"score":0.5162000060081482},{"id":"https://openalex.org/C33842695","wikidata":"https://www.wikidata.org/wiki/Q490513","display_name":"Foreign direct investment","level":2,"score":0.5120000243186951},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.5085999965667725},{"id":"https://openalex.org/C154815372","wikidata":"https://www.wikidata.org/wiki/Q1140421","display_name":"Real interest rate","level":3,"score":0.4726000130176544},{"id":"https://openalex.org/C73374054","wikidata":"https://www.wikidata.org/wiki/Q2995667","display_name":"Economic stability","level":2,"score":0.4690999984741211},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.4681999981403351},{"id":"https://openalex.org/C188466206","wikidata":"https://www.wikidata.org/wiki/Q7242626","display_name":"Price of stability","level":3,"score":0.4352000057697296},{"id":"https://openalex.org/C185824701","wikidata":"https://www.wikidata.org/wiki/Q1193759","display_name":"Inflation targeting","level":3,"score":0.3971000015735626},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.38920000195503235},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.3278000056743622},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.32359999418258667},{"id":"https://openalex.org/C34881761","wikidata":"https://www.wikidata.org/wiki/Q1936341","display_name":"Price level","level":2,"score":0.3230000138282776},{"id":"https://openalex.org/C2779685004","wikidata":"https://www.wikidata.org/wiki/Q1570293","display_name":"Terms of trade","level":2,"score":0.3221000134944916},{"id":"https://openalex.org/C536366893","wikidata":"https://www.wikidata.org/wiki/Q66076","display_name":"Foreign exchange market","level":3,"score":0.3158000111579895},{"id":"https://openalex.org/C2778135664","wikidata":"https://www.wikidata.org/wiki/Q1929451","display_name":"Open economy","level":3,"score":0.2912999987602234},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.2824999988079071},{"id":"https://openalex.org/C204208750","wikidata":"https://www.wikidata.org/wiki/Q1519415","display_name":"Short run","level":2,"score":0.27320000529289246},{"id":"https://openalex.org/C186008389","wikidata":"https://www.wikidata.org/wiki/Q7625010","display_name":"Structural break","level":2,"score":0.26589998602867126},{"id":"https://openalex.org/C75778745","wikidata":"https://www.wikidata.org/wiki/Q342626","display_name":"Lag","level":2,"score":0.26159998774528503},{"id":"https://openalex.org/C2780569737","wikidata":"https://www.wikidata.org/wiki/Q1228734","display_name":"Disinflation","level":3,"score":0.2574000060558319},{"id":"https://openalex.org/C52092804","wikidata":"https://www.wikidata.org/wiki/Q56872446","display_name":"Current account","level":3,"score":0.25270000100135803}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.32479/eees.24528","doi":"https://doi.org/10.32479/eees.24528","is_oa":true,"landing_page_url":"https://doi.org/10.32479/eees.24528","pdf_url":"https://econjournals.com/index.php/eees/article/download/24528/10400","source":{"id":"https://openalex.org/S7407062962","display_name":"Energy Environment and Economic Studies","issn_l":"3149-8477","issn":["3149-8477"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310318345","host_organization_name":"EconJournals","host_organization_lineage":["https://openalex.org/P4310318345"],"host_organization_lineage_names":["EconJournals"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Energy Environment and Economic Studies","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.32479/eees.24528","doi":"https://doi.org/10.32479/eees.24528","is_oa":true,"landing_page_url":"https://doi.org/10.32479/eees.24528","pdf_url":"https://econjournals.com/index.php/eees/article/download/24528/10400","source":{"id":"https://openalex.org/S7407062962","display_name":"Energy Environment and Economic Studies","issn_l":"3149-8477","issn":["3149-8477"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310318345","host_organization_name":"EconJournals","host_organization_lineage":["https://openalex.org/P4310318345"],"host_organization_lineage_names":["EconJournals"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Energy Environment and Economic Studies","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.833299994468689,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"sustainable_development_goals_aurora":[{"score":0.6073185801506042,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7204192022.pdf","grobid_xml":"https://content.openalex.org/works/W7204192022.grobid-xml"},"referenced_works_count":0,"referenced_works":[],"related_works":[],"abstract_inverted_index":{"This":[0],"study":[1,206],"examines":[2],"the":[3,16,20,67,127,151],"relationship":[4,33],"between":[5,34],"inflation":[6,35,56,109,159,187],"and":[7,37,60,82,98,193,221],"foreign":[8,48,169,202],"direct":[9],"investment":[10,117,136],"(FDI)":[11],"inflows":[12],"in":[13,66,133],"Nigeria":[14],"over":[15],"period":[17],"1990\u20132024,":[18],"employing":[19],"autoregressive":[21],"distributed":[22],"lag":[23],"(ARDL)":[24],"modelling":[25],"framework.":[26],"The":[27,51,138,182,205],"analysis":[28],"establishes":[29],"a":[30,44,58,142,161],"stable":[31,189],"long-run":[32,148],"dynamics":[36],"FDI,":[38,106,166],"confirming":[39],"that":[40,55,71,108,158,168,185,208,223],"macroeconomic":[41,195],"conditions":[42],"exert":[43],"persistent":[45,175],"influence":[46,164],"on":[47,64,165],"investors\u2019":[49],"decisions.":[50],"empirical":[52],"results":[53,156],"reveal":[54],"has":[57],"negative":[59],"statistically":[61],"significant":[62],"effect":[63],"FDI":[65,211],"long":[68],"run,":[69],"indicating":[70],"sustained":[72],"price":[73,87,96,215],"instability":[74],"undermines":[75],"investor":[76],"confidence":[77],"by":[78,111,228],"eroding":[79],"real":[80],"returns":[81],"increasing":[83],"uncertainty.":[84],"In":[85],"contrast,":[86],"indicators":[88],"associated":[89],"with":[90,105],"productive":[91],"economic":[92,224],"activity,":[93],"including":[94],"production-side":[95],"movements":[97],"broader":[99],"output":[100],"expansion,":[101],"exhibit":[102],"positive":[103],"relationships":[104],"suggesting":[107],"driven":[110,227],"real-sector":[112],"growth":[113,225],"may":[114],"signal":[115],"profitable":[116],"opportunities.":[118],"Exchange":[119],"rate":[120,191],"behaviour":[121],"contributes":[122],"positively,":[123],"though":[124],"modestly,":[125],"highlighting":[126],"importance":[128],"of":[129,145],"relative":[130],"currency":[131],"stability":[132],"enhancing":[134],"Nigeria\u2019s":[135,210],"attractiveness.":[137],"error-correction":[139],"mechanism":[140],"indicates":[141],"meaningful":[143],"speed":[144],"adjustment":[146],"toward":[147],"equilibrium,":[149],"underscoring":[150],"model's":[152],"dynamic":[153],"consistency.":[154],"Short-run":[155],"show":[157],"exerts":[160],"limited":[162],"immediate":[163],"implying":[167],"investors":[170],"respond":[171],"more":[172],"strongly":[173],"to":[174,179,199],"inflationary":[176,234],"trends":[177],"than":[178,233],"transitory":[180],"shocks.":[181],"findings":[183],"emphasise":[184],"credible":[186],"control,":[188],"exchange":[190],"management,":[192],"disciplined":[194],"policies":[196],"are":[197],"central":[198],"sustaining":[200],"long-term":[201],"capital":[203],"inflows.":[204],"concludes":[207],"improving":[209],"performance":[212],"requires":[213],"prioritising":[214],"stability,":[216],"strengthening":[217],"monetary":[218],"policy":[219],"credibility,":[220],"ensuring":[222],"is":[226],"productivity-enhancing":[229],"structural":[230],"reforms":[231],"rather":[232],"pressures.":[235]},"counts_by_year":[],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2026-08-26T00:00:00"}