Trade Liberalization and Trade Flows in Nigeria An Aggregated Analysis

Abstract

This study examines the impact of trade liberalization and trade flows in Nigeria using an econometric regression model of the Ordinary Least Square OLS . From the result of the OLS, it is observed that trade flows and export subsidies have a positive relationship with economic growth. This means that when trade flows and export subsidies are increasing, it will bring about more growth in Nigerian economy. On the other hand, import tariffs, import quotas and export taxes have a negative impact on economic growth in Nigeria. This means that if import tariffs, import quotas and export taxes are falling, there will be increase in economic growth. From the empirical work reviewed, some authors argued that trade liberalization and trade flows is positively related to economic growth while some authors argued that it is negatively related. The findings of the study also show that trade flows, import tariffs, import quotas and export taxes are statistically significant in explaining the Nigerian economy while export subsidy is statistically insignificant. The study therefore recommends that government should encourage import liberalization through reduction in tariff rates, gradual removal of Non-Tariff Barriers NTB , outright banning of certain goods which will ensure that our imports, following trade liberalization, is directed mainly on intermediate and capital goods. Imports of consumables would be brought to nil and therefore there would be a corresponding increase in the production of competitive import. Finally, the government should vigorously seek to improve the international stand of the economy with other economies of the world so as to enlarge the market for Nigerian exports. It should also re-orient its policy towards the external sector and ensure that the sector contribute optimally to output growth. Anionwu, Carol "Trade Liberalization and Trade Flows in Nigeria: An Aggregated Analysis" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-6 , October 2018, URL: http://www.ijtsrd.com/papers/ijtsrd18911.pdf

Authors and Affiliations

Keywords

Related Articles

Secure Authentication for Advanced Voting System using Fingerprint and RFID

The problem of voting is still critical in terms of rigging and security. A RFID and BIOMETRIC fingerprint sensor is being used in this advanced voting system. In the initial stage of voting we use bullet papers and poll...

Image Processing Application for Vehicle Seat Vacancy Identification

The importance of embedded applications on image and video processing domain has been taking a larger space. The image processing is the study of several algorithms that takes an image as input and returns an image as ou...

Planning of Plagiarism in Research and Safety Measurements and Eradication Methodologies

This paper presents a Planning of Plagiarism in Research and safety measure and eradication methods in this paper a study that is complete presented on plagiarism like what is plagiarism to how to avoid plagiarism and fe...

Study of Barthel Score among CKD Patients Belonging from Tribal Areas in Tertiary Care Hospital, Chhattisgarh

"Chronic Kidney Disease CKD is one of the independent diseases which can lead to sever disability and it is a major emerging public health concern worldwide because it often leads to poor patient outcome 1 . Some of the...

Inquiry Based Teaching and Learning in Science It’s Extent of Implementation, Challenges Encountered and Learning Outcomes among the Secondary Schools in the Division of Aklan, Philippines

It has been observed that implementing Inquiry based learning in the classroom shows a positive effect on the learning outcomes of the high school students. This mixed method of research was conducted to assess the use o...

Download PDF file
  • EP ID EP411073
  • DOI -
  • Views 66
  • Downloads 0

How To Cite

(2018). Trade Liberalization and Trade Flows in Nigeria An Aggregated Analysis. International Journal of Trend in Scientific Research and Development, 2(6), 1507-1521. https://europub.co.uk/articles/-A-411073