2021
DOI: 10.47747/ijfr.v2i4.446
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International Trade and Economic Misery in African Countries with Low Human Development

Abstract: Puzzled by the demeaning level of poverty most African countries continue to grapple with despite their extensive participation in international trade, the study attempts to examine the encumbrances that tend to impede African countries from optimally reaping the developmental gains inherent in partaking in international trade, which seems to also worsen the economic misery the inhabitants endlessly contend with. The System Generalized Method of Moments (System-GMM) estimation technique was used in the study w… Show more

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“…The country's official rate of exchange remained stable throughout the 1960s at an average of 0.71 kobo per US dollar; it then appreciated from 0.71 kobo in 1971 to 0.67 kobo in 1982. However, it started depreciating from 1983 till date; it was put at 0.72 kobo in 1983, 8.04 Naira in 1990, 101.70 in 2000, 150.30 in 2010 and 306.08 in 2018 (Corden, 1984;CBN, 2019;Nwogwugwu & Umeghalu, 2021). The movements of these economic indicators tend to show the prevalence of Dutch disease in the years following the commencement of oil production in Nigeria.…”
Section: Introductionmentioning
confidence: 99%
“…The country's official rate of exchange remained stable throughout the 1960s at an average of 0.71 kobo per US dollar; it then appreciated from 0.71 kobo in 1971 to 0.67 kobo in 1982. However, it started depreciating from 1983 till date; it was put at 0.72 kobo in 1983, 8.04 Naira in 1990, 101.70 in 2000, 150.30 in 2010 and 306.08 in 2018 (Corden, 1984;CBN, 2019;Nwogwugwu & Umeghalu, 2021). The movements of these economic indicators tend to show the prevalence of Dutch disease in the years following the commencement of oil production in Nigeria.…”
Section: Introductionmentioning
confidence: 99%