Impact of Trade Openness on the Output Growth in the Nigerian Economy

Ehinomen, Christopher

doi:10.9734/bjemt/2014/6682

Cited by 9 publications

(6 citation statements)

References 10 publications

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“…The coefficient of Exchange Rate (EXR) is -0.056788, suggesting that one Naira depreciation in EXR reducedRGDP by about 0.057 percent, but the coefficient of EXR is statistically significant with RGDP at 5 percent level. The result of this study corroborate with the works of Akeem (2011), Erhieyovwe and Jimoh (2011), Oladipupo and Onotaniyohuwo (2011), Attah-Obeng, Enu, Osei-Gyimah and Opoku (2013) andEhinomen and Da'silva (2014).This outcome may be due to the reality that among others, Nigeria is a consuming nation that imports more of consumption goods than capital goods, and the capital goods sub-sector of the economy is inactive to satisfy the needs of local investors, coupled with multiplicity of exchange rates which the Central Bank of Nigeria is recently working to unify.…”

Section: Parsimonious Ecm Test Resultssupporting

confidence: 91%

External Sector Aggregates and Economic Growth in Nigeria

Akidi

Tubotamuno

Obayori

2018

IJSMS

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This paper empirically examined the effects of selected external sector aggregates on economic growth in Nigeria from 1981 to 2016. Time series data on Real Gross Domestic Product as proxy for economic growth, and on Imports, Exports, Exchange Rate and Foreign Direct Investment were collected from secondary sources. The data sets were analyzed using descriptive statistics, unit root test, co-integration test and error correction technique of model estimation. The result of the analysis revealed that Imports, Exchange Rate and Foreign Direct Investment negatively related with economic growth while Exports positively related with economic growth in Nigeria within the reviewed period. Also, except Exchange Rate all the other explanatory variables – Imports, Exports and Foreign Direct Investment did not impact significantly on economic growth in Nigeria within the period of study. Based on these findings, the study recommends that government should encourage export diversification, especially the non-oil sector exports. This can be achieved through value addition in both the agriculture and manufacturing sub-sectors output.

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Section: Parsimonious Ecm Test Resultssupporting

confidence: 91%

External Sector Aggregates and Economic Growth in Nigeria

Akidi

Tubotamuno

Obayori

2018

IJSMS

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“…Today, China occupies a desirable position as the second largest economy after the United State of America, largely owing to her self-esteemed trade position. However, according to (Ehinomen and Damilola 2013), encouragement of economic growth is one of the major aims of foreign trade but recently, the case of the Nigerian economy has been quite different due to the instability of the economy as a result of high level of unemployment, unstable prices and adverse balance of payment etc. A major problem as to why the benefits of international trade cannot be found to have a positive effect on economic growth is the macroeconomic policy changes resulting from the trade which turned the country into an import reliant economy.…”

Section: Introductionmentioning

confidence: 99%

International Trade and Economic Growth in Nigeria

Lawal¹,

Ezeuchenne²

2017

IOSR JHSS

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Nigeria is a third world economy that places great emphasis on trade both domestic and international. This research work was aimed at determining the impact of international trade on the economic growth. Variables used in the measurement of international trade include: Imports, exports, balance of trade and trade openness while real gross domestic product was used as a measure for economic growth using periodic data from the years 1985-2015. The econometric tests employed made use of the Unit Root Test to establish stationarity of the variables, the Johansen Co-integration Test was used to determine the long run relationship between the variables while the Vector Error Correction Model (VECM) was used to analyze the data so as to determine the speed of adjustment of the variables. The result showed that there is a long run relationship between international trade and economic growth, import and trade openness are both insignificant in the short run but significant in the long run while export and balance of trade are significant in both the short and long run. The granger causality test showed that economic growth is independent of imports, exports and balance of trade but economic growth is unidirectional with trade openness. Therefore, the study recommends that government should increase its exploration of finished goods and reduce importation of finished goods to increase economic growth.

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“…However, due to limited data on the tariffs of Syria, we are unable to use this variable in this study. Instead, the percentage of total exports and imports to GDP will be used as an indicator of trade openness (see Dowrick & Golley, 2004;Ehinomen & Dasilva, 2014;Manni & Afzal, 2012).…”

Section: Methodsmentioning

confidence: 99%

Trade Liberalization, Exports and Imports in Syria

Mohsen

Chua

Sab

2016

Foreign Trade Review

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This study attempts to investigate the effect of trade liberalization on exports and imports in Syria over the period 1980–2010. Trade openness is used as an indicator of trade liberalization. The cointegration test shows that trade openness has a positive effect on exports and imports. The Granger causality test indicates that there are bidirectional short-run causality relationships between trade openness and exports, and unidirectional short-run causality relationship running from trade openness to imports. In the long run, there is unidirectional long-run causality relationship running from exports to trade openness, and no long-run causality relationship between trade openness and imports. However, trade openness tends to have a greater effect on imports than exports.

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Impact of Trade Openness on the Output Growth in the Nigerian Economy

Cited by 9 publications

References 10 publications

External Sector Aggregates and Economic Growth in Nigeria

External Sector Aggregates and Economic Growth in Nigeria

International Trade and Economic Growth in Nigeria

Trade Liberalization, Exports and Imports in Syria

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