Export Diversification and Economic Growth in Nigeria
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Date
2018
Authors
Odeleye, A.T.
Olunkwa, N.C.
Journal Title
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Volume Title
Publisher
Nigerian Journal of Economic and Social Studies
Abstract
The paper examines the relationship between export diversification and economic growth in Nigeria. The study used an annual time series data for the period 1981-2015 and employed Ordinary Least Square (OLS) methods involving Error Correction Mechanism (ECM), Co-Integration, Over-Paramatization and Parsimonious model. Johansen co-integration test revealed that the variables are co-integrated which confirm the existence of long-run equilibrium relationship between the variables. The results of the study revealed that contributions of agriculture and manufacturing sectors to export is negative; signifying that export diversification has negative effects on Nigeria’s economic growth. It suggests that for meaningful diversification of the export base of the economy, government should promote semi-finished and finished goods exportation in order to create an attractive manufacturing sector that can prompt local and foreign investment.
Description
Scholarly article
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Citation
Odeleye, A.T., & Olunkwa, N.C. (2018). Export diversification and economic growth in Nigeria. Nigerian Journal of Economic and Social Studies, 59(2), 203-222.