An analysis of the effect of manufacturing sector on the growth of the Nigerian economy
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 4
Abstract
The study investigated the influence of manufacturing sector output on economic growth in Nigeria from 1981 to2016. Autoregressive Distributed Lag (ARDL) model and Granger causality technique were utilized. Data from theCentral Bank of Nigeria, statistical bulletin on RGDP, manufacturing capacity utilization (MCU), manufacturingoutput (LMO), government investment expenditure (GINVEXP), money supply (LM2) and interest rate (INR) wereused. Evidence of long-run and short-run relationships among the variables is established. The results showed thatMCU has positive influence on RGDP while LMO affects RGDP positively. It also showed that GINVEXP hasnegative effect on RGDP whereas LM2 influenced RGDP positively. More so, evidence of unidirectional causalityis established between RGDP and MCU, LMO and LM2. Therefore, government should intensify efforts to promotesocio-economic infrastructural, macroeconomic and institutional framework in Nigeria to provide favourableenvironment for external and domestic institutions interactions; hence, harnessed mobilized funds effectivelytowards productive manufacturing sector.
Authors and Affiliations
Celina Ududechinyere Ph. D, Eze, Onyebuchi Michael, Nweke Abraham Mbam
Keywords
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- EP ID EP410250
- DOI 10.9790/487X-2004063446.
- Views 93
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