Does the Effect of Information and Communications Technology (ICT) Infrastructure on Foreign Direct Investment (FDI) Inflow Depend on the Level of ICT Penetration? Evidence from West Africa

Okwudire, Blessing Onyinyechi and Owolabi, Oluwarotimi A. and Omeire, Mercy C. and Bolujoko, Oluwawemimo T. (2023) Does the Effect of Information and Communications Technology (ICT) Infrastructure on Foreign Direct Investment (FDI) Inflow Depend on the Level of ICT Penetration? Evidence from West Africa. In: Covenant University International Conference on Entrepreneurship.

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Abstract

The present study examines the role of Information and Communications Technology infrastructure in relation to Foreign Direct Investment (FDI) inflow to West Africa. Specifically focusing on mobile phone and internet, this study explores whether ICT infrastructure is significant for FDI inflow and whether high levels of ICT infrastructure play a role in such infrastructure affecting FDI inflow as measured by Net FDI inflow in West African countries. The study employed Panel Data Random effects estimation in analysing the data in pursuit of the objectives of the study. The study found that ICT infrastructure in the form of both Mobile phone and internet were both significant for boosting FDI inflow to West Africa. Further, while Internet was significant for FDI inflow in high internet use countries, mobile phone was significant for FDI inflow in high mobile phone use countries. The study consequently recommends amongst others based on its findings that governments of respective West African countries must of a necessity leverage on their country strengths in respective ICT infrastructure as reflected by their respective country ICT penetration levels, via ICT infrastructure provision in order to attract sizeable amounts of FDI inflow in light of increased global competition for capital in the world and the dire need of West African countries for increased levels of capital for domestic investment.

Item Type:	Conference or Workshop Item (Paper)
Uncontrolled Keywords:	Information and Communications Technology (ICT), Mobile use, Internet Use, Foreign Direct Investment inflow, West Africa
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User:	AKINWUMI
Date Deposited:	07 Jun 2023 15:30
Last Modified:	07 Jun 2023 15:30
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/16985

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