Short-Run and Long-Run Effects of Non-Oil Trade Export on Economic Growth in Nigeria
This study examined the short and long run effects of non-oil trade export on economic growth in Nigeria. Descriptive statistics and inferential statistics (unit root test, Johansen cointegration and error correction mechanism) were employed as the estimation techniques. The time series data on n...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Danubius University
2020-04-01
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| Series: | Acta Universitatis Danubius: Oeconomica |
| Subjects: | |
| Online Access: | http://dj.univ-danubius.ro/index.php/AUDOE/article/view/257/432 |
| Summary: | This study examined the short and long run effects of non-oil trade export on economic
growth in Nigeria. Descriptive statistics and inferential statistics (unit root test, Johansen cointegration
and error correction mechanism) were employed as the estimation techniques. The time series data on
non-oil export (proxied by non-oil total trade, balance of trade, exchange rate and inflation rate); and
economic growth (proxied by growth rate of Real Gross Domestic Product) were sourced and obtained
from the Central Bank of Nigeria Statistical Bulletin and Nigerian Bureau of Statistics over a period of
thirty (33) years (1986–2018). The study showed that non-oil total trade, balance of trade and exchange
rate have positive and significant effects on economic growth in Nigeria while inflation rate has no
significant effect on economic growth in Nigeria. Based on the finding of the study, it was concluded
that non-oil trade export has positive and significant effects in the short run and long run on economic
growth in Nigeria. It is recommended that full attention should be directed to the non-oil sector in other
to make our produce competitive in international market. |
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| ISSN: | 2065-0175 2067-340X |