GLOBALISATION AND ECONOMIC PERFORMANCE IN DEVELOPING NATIONS: THE NIGERIAN EXPERIENCE

The study examines the effect of globalisation on the economic performance of developing nations with particular reference to Nigeria. The study employs the Ordinary Least Square (OLS) method to analyze the model adopted, in which Gross Domestic Product is used as a proxy to measure economic performance, and depends on the degree of openness, exchange rate, and foreign direct investment which are indices of globalisation. Annual time series data were collected from the Central Bank of Nigeria (CBN) Statistical Bulletin from 1980 to 2010. The study revealed that globalisation has a significant positive impact on the economic performance/growth of Nigeria. It recommends that the government should continually ensure a business-friendly environment to encourage foreign participation in investment. Also, the government should stimulate local production and diversify the nation’s export base