MANUFACTURING PERFORMANCE IN NIGERIA: IMPLICATION FOR SUSTAINABLE DEVELOPMENT

MANUFACTURING PERFORMANCE IN NIGERIA: IMPLICATION FOR SUSTAINABLE DEVELOPMENT

Journal

  • Journal title: Asian Economic and Financial Review
  • ISSN: 2305-2147 (print) 2222-6737 (online)
  • Publisher: Aess
  • Country of publisher: pakistan
  • Date added to EuroPub: 2017/May/11

Subject and more

  • LCC Subject Category: Finance and Financial Services, Economics
  • Publisher's keywords: Manufacturing, Development, Sustainable economic, Productivity
  • Language of fulltext: english
  • Full-text formats available: PDF

AUTHORS

    Olorunfemi Sola| Department of Economics, Adekunle Ajasin University Akungba, Ondo State Nigeria, Tomola M. Obamuyi| Department of Banking and Finance, Adekunle Ajasin University Akungba, Ondo State Nigeria, Felix O. Adekunjo| Department of Economics, Lagos State University, Lagos Nigeria, E.O Ogunleye| Department of Economics, Ekiti State University, Ekiti State Nigeria

EDITORIAL INFORMATION

FULL TEXT

ABSTRACT

The study examined manufacturing performance for sustainable economic development in Nigeria, while the specific objectives are as follows: i) to look at the growth rate and contribution of manufacturing to GDP. ii) to examine trend in both manufacturing and employment. iii) to determine the structure of capacity utilization. iv) to determine factors influencing manufacturing performance. Panel data analysis was used on secondary data from 1980-2008 that was extracted from CBN Statistical Bulletin. The results indicate positive relationship between manufacturing and each of capacity utilization and import as 1 percent change in capacity utilization and import lead to 43081 and 3.8 percent change in manufacturing respectively. However, there is a negative relationship between manufacturing and each of investment, exchange rate, and export. A 1 percent change in investment, exchange rate and export lead to 0.04, 12729, 0.3 percent reduction in manufacturing respectively. The t-values for investment, capacity utilization and import were used to test the hypothesis that each coefficient is different from 0. This is rejected; since the t-value are lower than 1.96 (at 95% confidence level). This showed that investment, capacity utilization and import were major determinants of manufacturing performance for the period. The study concludes that the key to reversing the poor performance of Nigerian manufacturing is to provide incentives for firms to become more export oriented.

About Europub

EuroPub is a comprehensive, multipurpose database covering scholarly literature, with indexed records from active, authoritative journals, and indexes articles from journals all over the world. The result is an exhaustive database that assists research in every field. Easy access to a vast database at one place, reduces searching and data reviewing time considerably and helps authors in preparing new articles to a great extent. EuroPub aims at increasing the visibility of open access scholarly journals, thereby promoting their increased usage and impact.