https://ojs.acad-pub.com/index.php/FEFS <p><em>Forum for Economic and Financial Studies</em> (FEFS) is an international, scholarly open access journal on the topic of financial economics. It publishes theoretical and empirical research papers in economics and finance. We also welcome theoretical and econometric innovations, providing the relevance for researchers and policymakers is clearly elucidated. There is no restriction on the maximum length of the papers, we encourage scientists to publish their research in as much detail as possible.</p> Academic Publishing Pte. Ltd. en-US Forum for Economic and Financial Studies 3029-2875 <p>Authors contributing to this journal agree to publish their articles under the<span> </span><a href="http://creativecommons.org/licenses/by/4.0" target="_blank">Creative Commons Attribution 4.0 International License</a>, allowing third parties to share their work (copy, distribute, transmit) and to adapt it <span lang="EN-US">for any purpose, even commercially, under the condition that the authors are given credit.</span> With this license, authors hold the copyright.</p><p><img src="https://esp.apacsci.com/public/site/images/reviewer/OIP-C.jpg" alt="" /></p> https://ojs.acad-pub.com/index.php/FEFS/article/view/1133 <p>No country can achieve sustained economic growth without substantial investments in capital formation. Nigeria is rich in natural resources but due to inadequate capital and technology, these resources have not been fully tapped and maximized. This study seeks to provide another gate way to unlocking the dearth of capital formation for development by specifically investigating the impact of financial and trade globalization on capital formation in Nigeria within the period 1990–2022. Autoregressive distributed lag (ARDL) technique was adopted for data analysis. The findings of this study indicate that while trade globalization has negative effect on capital formation in both the long run and short run respectively, financial globalization exerts negative effect on capital formation in the long run but a positive effect in the short run. Nevertheless, Financial and trade globalization exert detrimental effect on capital formation in the long run. A major policy recommendation is that Nigeria should play a key role in the African Continental Free Trade Area in order to boost her trade and financial competitiveness within Africa and so be able to lunch herself into the global space, and thus tap the potential benefits of trade and financial globalization.</p> Benedict Ikemefuna Uzoechina Precious Chidinma Okafor Ngozi Florence Ezenwobi Geraldine Amaka Ekwoh Chika Maureen Okaforocha Ndubisi John Edeh Copyright (c) 2024 Benedict Ikemefuna Uzoechina, Precious Chidinma Okafor, Ngozi Florence Ezenwobi, Geraldine Amaka Ekwoh, Chika Maureen Okaforocha, Ndubisi John Edeh https://creativecommons.org/licenses/by/4.0/ 2024-05-08 2024-05-08 2 2 1133 1133 10.59400/fefs.v2i2.1133