Global Integration, Non-Oil Export and Economic Growth in Nigeria
Journal Title: Academic Journal of Economic Studies - Year 2017, Vol 3, Issue 1
Abstract
This study focuses on global integration, non-oil export and economic growth in Nigeria. The direct and interaction effect of the both openness variables and non-oil export on economic growth in Nigeria is investigated using quarterly data from 1986-2014. For analysis, it uses one measures of financial openness: de facto (total capital flow) variables following Aizenman and Noy (2009).and a measure of trade openness adopted by Okoh (2004). The study applies the Autoregressive Distributed Lag Model (ARDL). The results show positive impact of non-oil export on economic growth in Nigeria both in the short run and in the long run, negative effect of trade and financial openness on economic growth however, the result recorded a negative effect of the interaction of trade openness and non-oil export on economic growth and a positive effect of the interaction of financial openness and non-oil export on economic growth. Thus, the study recommends among others that government should get the fundamentals right in the economy first that will boost non-oil sector before opening the economy for trade.
Authors and Affiliations
Ozoemena Stanley Nwodo, Fredrick Onyebuchi Asogwa
Keywords
Related Articles
- EP ID EP178079
- DOI -
- Views 133
- Downloads 0
Implementation of Resettlement Policy Strategies and Community Members’ Felt-Need in the Federal Capital Territory, Abuja, Nigeria
Over decades now, development-induced displacement and resettlement have taken place in the Federal Capital Territory, Abuja, Nigeria. To address the displacement and the resettlement problems, different resettlement pol...
An ARDL Approach to the Government Expenditure and Economic Growth Nexus in Nigeria
This study majorly aims at investigating the impact of government expenditure on economic growth by controlling FDI inflow as additional variable for the timeframe from 1981 to 2016. The inclusion of FDI inflow in the mo...
Challenges of the Audit Profession in the Globalization Era
Massive unprecedented changes, that best describe this era, are affecting the accountant and auditor profession, as well as the global business environment. The traditional role of the financial auditor will change, but...
Service Sector: The Source of Output and Employment Growth in Ethiopia
According to official data, the Ethiopian economy has grown at 10.9% on average in 2004/05-2014/15. During this period a structural change is observed as agriculture declined in its share and service sector dominates the...
International Market Entry Strategies
On a market where consumers are assaulted by an abundance of products and services are offered, promoting the company requires a permanent search for new variants that attract attention and differentiate the company's pr...