The Impact of Agricultural Output on Economic Growth In Nigeria (1981-2015)
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 4
Abstract
The study examined the impact of agricultural output on economic growth in Nigeria. The data were obtained from the CBN statistical bulletin and analysed using econometric methods being the Ordinary Least Squares (OLS), Co-integration, Augumented Dickey Fuller Unit Root test, Error Correction Mechanism (ECM) and Causality tests. The results showed that, livestock and fish production were positively signed and statistically significant at 5 percent. The R2 and F-statistic indicated the goodness of fit of the model; the DW value (0.34) indicated the existence of serial auto correlation among variables in the model. The Johansen cointegration results showed that there were two co-integrating equations. Results from the ADF test carried out revealed that the variables were stationary at first difference and second difference. The ECM results showed a long-run equilibrium relationship between the dependent and independent variables but no long-run causality relationship. The Causality (Walds) test carried out showed that short run relationship existed between economic growth (GDP); livestock and fish production. Finally, the LM test showed that serial autocorrelation no longer existed in the model. The study therefore recommended that efforts should be made by the government to promote the agricultural sector of the economy so as to boost agricultural productivity and as such improve the growth of the economy.
Authors and Affiliations
Ekine Data Irene, Onu Catherine
Keywords
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- EP ID EP414863
- DOI 10.9790/5933-0904011014.
- Views 207
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