The Impact of Globalization on Manufacturing Output: The Case of Nigeria

Odebode, Adedapo; Aras, Osman Nuri

doi:10.31039/jomeino.2019.3.3.5

Cited by 4 publications

(3 citation statements)

References 1 publication

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“…Consumers, businesses, and dealers in Nigeria and adjacent countries felt the effects. The closure reduced legitimate cross-border trade due to restrictions on goods transportation, and the aforementioned conditions had a negative impact on businesses and employment, particularly in border regions where a large portion of the local economy was dependent on cross-border trade (Abbas et al, 2018;Odebode & Aras, 2019;Abiodun, 2021). Limitations on products and services harmed supply networks, affecting industries and businesses that relied heavily on imported raw materials and inputs.…”

Section: Overview Of Nigeria's Border Closurementioning

confidence: 99%

A Review on Economic Implications of Nigeria’s Border Closure on Rice Importation

Jacob

2024

OJRE

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Nigeria’s border closure on rice importation has significant economic implications that require comprehensive analysis. Policymakers must consider both the short-term and long-term effects, as well as broader socioeconomic factors. Balancing economic considerations with employment, food security, and regional disparities is crucial for inclusive and sustainable development. By adopting a holistic approach, Nigeria can navigate the challenges and opportunities presented by the border closure, achieve self-sufficiency in rice production, and promote the well-being of its citizens. Gradually phasing out the border closure while enhancing the competitiveness of local rice producers through incentives and support will ensure market efficiency. Investing in agricultural research, extension services, and infrastructure development will improve productivity and quality. Strengthening border control mechanisms will prevent smuggling. To sustain regional economic partnerships, it is critical to collaborate with neighboring countries. Nigeria's border barrier for rice imports presents numerous obstacles and opportunities. Nigeria has the power to attain rice self-sufficiency and promote all-encompassing and sustainable development by implementing a comprehensive strategy that successfully balances economic considerations with broader social factors. This includes gradually phasing out the border closure while enhancing the competitiveness of local rice producers, investing in agricultural research and infrastructure development, strengthening border control mechanisms to prevent smuggling, and collaborating with neighboring countries to maintain regional trade relationships.

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Section: Overview Of Nigeria's Border Closurementioning

confidence: 99%

A Review on Economic Implications of Nigeria’s Border Closure on Rice Importation

Jacob

2024

OJRE

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“…Likewise, the results of study by Isaac et al (2019) with a simple regression model (least square) found that interest rates have a significant negative effect on manufacturing outputs. Odebode & Aras (2019) in their study using the SVAR analysis method explained that in the 2010Q1-2018Q4 period, the exchange rate had the influence manufacturing outputs.…”

Section: Introductionmentioning

confidence: 99%

The Influence of Monetary Policies on Manufacturing Output

Krisnawati

2023

jef

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The aim of this study is to examine the effect of monetary policies on manufacturing outputs in Indonesia. This research uses a quantitative method with the Engle-Granger Error Correction Model (E-G ECM) analysis. This study applies monetary policies variables which consist of broad money, foreign exchange reserves, inflation, and Bank Indonesia interest rates on the outputs of the manufacturing sector reflected in the value of the gross domestic product of the manufacturing sector. The data are time-series data from 2010 Q1 to 2021 Q4. The results show that in the short run, inflation significantly influences manufacturing outputs. Meanwhile, broad money, foreign exchange reserves, and interest rates do not affect manufacturing outputs. In the long run, broad money, inflation, and the interest rate of Bank Indonesia significantly influence manufacturing outputs, while the foreign exchange reserve does not significantly affect manufacturing outputs. This study emphasizes the importance of broad money, inflation, and the interest rate to increase manufacturing outputs in Indonesia.

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“…Globalisation consists of the increased interaction of product and resources across nations via trade, immigration and foreign investment through international flows of goods and services, people, investment in equipment, factories, stocks and bonds. It could be political, technological and cultural, as well as economic elements (Odebode & Aras, 2019). The International Monetary Fund (IMF) identified four main aspects of globalisation to include trade and transactions; capital and investment movements; migration and movement of people, and knowledge dissemination (IMF, 2008); while Verma & Srivastava (2022) classified globalisation into financial, trade, cultural, interpersonal, informational, and political dimensions.…”

Section: Introductionmentioning

confidence: 99%

The relationship between globalisation and economic growth in West Africa

Wanger

2022

JGSS

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Economic integration among countries, as a result of globalisation, could be beneficial to trading partners if properly handled through appropriate regulation of production, distribution, and consumption. However, it appears developing countries often do not benefit from their economic relations with other countries at advanced stages of developed. It is in view of this that this research was conducted with concentration on West Africa. In this study Panel Cointegration Techniques including Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares and Dumitrescu-Hurlin Panel Causality Test were applied using time series on Gross Domestic Product, Exports, Imports and Foreign Direct Investment of eight West African countries from 1960–2019. While a positive and significant long run causal relationship was found between Exports, Imports as aspects of globalisation and Gross Domestic Product, there was an observed negative long run relationship between Foreign Direct Investment and Gross Domestic Product. Export promotion, hight import tariffs, the local content initiative, liberal migration policies and strong regulatory machinery were recommended.

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The Impact of Globalization on Manufacturing Output: The Case of Nigeria

Cited by 4 publications

References 1 publication

A Review on Economic Implications of Nigeria’s Border Closure on Rice Importation

A Review on Economic Implications of Nigeria’s Border Closure on Rice Importation

The Influence of Monetary Policies on Manufacturing Output

The relationship between globalisation and economic growth in West Africa

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