Title: Macroeconomic impact of trade on Nigerian growth: An empirical evaluation
Abstract: The study evaluates the role of trade on Nigeria’s economy, by analyzing different specifications of the traditional export led growth model. In the process we reviewed the theories of the relationship between foreign trade and economic growth and then introduced Foreign Direct Investment as an, additional variable to estimate the significance of this variable on growth. By applying a combination of bivariate and multivariate models, we estimated the relationships between the selected macroeconomic variables used for the study, by means of relative data of Nigeria for the period 1970 to 2008. The outcome of the empirical analysis indicated that exports and Foreign Direct Investment inflows have positive and significant impact on growth in the Nigeria economy. The study concludes, among others, that there should be a congruence of export and fiscal policies, towards a greater diversification of nonoil exports by the Nigerian government in order to attain the desired growth prospects of external trade.
Publication Year: 2012
Publication Date: 2012-01-01
Language: en
Type: article
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Cited By Count: 14
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