Panel Cointegration and Granger Causality Approach to Foreign Direct Investment and Economic Growth in BRICS Countries.

In the recent time, empirical studies have failed to examine the long run relationship between FDI inflows, growth rate of economy and economic growth in BRICS countries. This paper employs Johansen Fisher Panel Cointegration and Pairwise Dumitrescu Hurlin Panel Causality Tests to address the objective of this study. The findings from this study show that all the variables have a long run equilibrium relationship. However, panel causality test indicates the existence of unidirectional causality which runs from FDI inflows to economic growth. This study upholds the propositions of Harrod-Domar and Solow growth models, which both submitted that investment is a necessary condition for economic growth in any economy. Similarly, there is one way causality that runs from growth rate of economy to FDI inflows. Therefore, the study recommends that all the policy makers in BRICS countries should embark on more foreign investment oriented policies that would boost further attraction of FDI inflows into all sectors of their economies. Also, policy should be geared towards the promotion of a stable political goodwill and macroeconomic variables that would ensure the sustainable growth rate of BRICS economies.  &nbsp

Electronic Banking and Customers` Satisfaction: Evidence from Some Selected Deposit Money Banks in Nigeria

This aim of this study is to examine the effect of electronic banking on customers’ satisfaction in deposit money banks in Nigeria between 2013 and 2018 with aid of graphical, correlation and pooled regression analysis. From the results of the study, it could be pinpointed that UBA, First bank and Access bank registered the substantial number of customers’ complaints regarding the use of electronic banking. All the banks selected for the study were able to resolve almost every complaint of their customers regarding the use of internet banking. Similarly, there is a positive relationship between electronic banking and customers resolved complaints in deposit money banks in Nigeria. This relationship is significant at 10% level of significance.  However, there is a negative relationship between electronic banking and total customers complaints which is significant at 5% level of significance. Based on these findings, this study recommended that all hands must be on deck by the policy makers in these organizations to ensure effective and efficient management of electronic banking on a sustainable basis in meeting customers’ needs. Also, the banks should make sure that the complaints of customers are resolved on time so that the customers will have a high confidence on the electronic banking system in money deposit banks in Nigeri