Towards Effective Integration of Nigerian Economy into Global Economic Competitiveness; Problems and Prospects
Journal Title: International Journal of Management Sciences - Year 2014, Vol 2, Issue 1
Abstract
The objective of this paper is to examine how effective the Nigerian economy we be integrated into the global economic competitiveness. Some literatures on the subject matter were reviewed while secondary sources were employed to analyze the issues therein. .The paper reveals that Nigeria has large domestic market, which could serve as a springboard for entering export markets, these and many other national assets could pave the way for seizing the many development opportunities that come with cross-border cooperation and the globalization of industry, trade, and investment. Interestingly, the paper examine some determinant of global competitiveness which include inter-alia financial market sophistication, labour market efficiency, macroeconomic stability, technological readiness, market size, Business sophistication, goods market efficiency among others . The paper point out that one of the factor inhibiting the effective integration of Nigeria into the World trading system is the non-involvement of all stakeholders in issues relating to trade. The paper recommend that government should intervene to provide the necessary support for local entrepreneurs so that the economy we be made attractive to local investor through the adjustment of interest rates at affordable rates. The paper concludes that For Nigeria to achieve this feat and its aim of being part of the 20 largest economies by 2020, she must maintain an annual average growth of 12.4% over the next 15 years and focus on developing the recommendations that have been proffered.
Authors and Affiliations
Ikyase Johnkennedy Tersoo, David N. Ikyase
Keywords
Related Articles
- EP ID EP26771
- DOI -
- Views 297
- Downloads 7
Entrepreneurship and Socio-Economic Development: The Case of Nigeria
Empirical researchers and policy makers have shown increasing interest in entrepreneurship and its association with socio- economic development. In the literature, a good number of studies have established positive rel...
The Factors Affecting Organizational Citizenship Behavior in Banking Industry
Organ (1988) defined organization citizenship behavior (OCB) as the individual’s behavior that is discretionary not directly or explicitly recognized by the formal reward system and that in the aggregate promotes the e...
A Study on Implementation of Taiwan Train Quali Scorecard to HACCP Certified Box-Meal Supplier in Taiwan
Since the government established an HACCP (Hazard Analysis and Critical Control Points) system for food manufacturers 15 years ago, the institution of food safety and sanitation has stepped onto a milestone. A total of...
Formulating Educational Strategies Based on the Reform Plan of Humanities: A Case Study of Payam-e-Nour University of Ilam, Iran
The main objective of the current paper is to formulate educational strategies for Payam-e-Nour University of Ilam based on the reform plans of humanities. The statistical population of the study includes 204 participa...
Employee Commitment: Nature, Antecedents and Outcomes
The authors explore the meaning, contributory factors; and results of employee engagement. We employ predominantly academic and popular literature to assess the three parts of the subject. Combining the review with dis...