Towards determining Nigeria’s economic growth path: A balance-of-payments constrained growth approach

Panshak, Yohanna; Civcir, Irfan; Özdeşer, Hüseyin

doi:10.1016/j.econ.2019.11.004

Cited by 6 publications

(7 citation statements)

References 20 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Developed countries may do business in developing countries in order to exploit cheap labor force and larger market scales. Panshak et al (2019); Manual and San (2019) found the reversed result with this study.…”

Section: Regarding Economic Growthcontrasting

confidence: 40%

“…The literature on the economic performance and trade balance has been focused on a large number of empirical studies. As presented in some recent studies (Panshak et al, 2019;Manual and San, 2019), economic performance appear to be positive and significant that generate the balance of trade. To be precise, more efficiency in economic performance that will enhance international trade and trade balance, especially trade deficit that is normally happened in most developing countries.…”

Section: Introductionmentioning

confidence: 84%

“…By analyzing in a developing country in Africa as Nigeria, Panshak et al (2019) conducted on the time-series dataset from 1982 to 2015; the result of empirical research indicates that Nigeria's economic growth process is constraint of balance of payment. Further, Nigeria can grow at a faster rate with the policy of the purpose of external balance expansion or import demand contract.…”

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Energy Consumption, Economic Growth and Trade Balance in East Asia: A Panel Data Approach

Tran

Nguyễn

Nguyen

et al. 2020

IJEEP

View full text Add to dashboard Cite

The purpose of this work is to study the effects energy consumption, economic growth and trade balance in the East Asian countries. Using a panel data analysis in the period over 1996-2015, the study analyzes based on the methods of fixed, random effects, and pooled ordinary least squares. The data were collected from World Development Indicators, Department of Statistics in relevant countries used in the study. Our results demonstrate that energy consumption has negatively affected trade balance while economic growth that can negatively affect the balance of trade but insignificant. Further, the prime factors that can significantly impact trade balance are exports, exchange rates and development level. Both exports and exchange rates have positive and significant impacted on trade balance. Finally, a country with a higher level of domestic income will certainly perform a higher level of trade balance.

show abstract

Section: Regarding Economic Growthcontrasting

confidence: 40%

Section: Introductionmentioning

confidence: 84%

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Energy Consumption, Economic Growth and Trade Balance in East Asia: A Panel Data Approach

Tran

Nguyễn

Nguyen

et al. 2020

IJEEP

View full text Add to dashboard Cite

show abstract

“…The production function depicts production performance and productivity is the metrics for it. Measures may be applied for example different technology to improve productivity and to raise production output (Yohanna et al 2019).…”

Section: Port Productivitymentioning

confidence: 99%

Effect of International Seaborne Trade on Productivity of Ports in Nigeria

Laurentia,

Isaac

2023

Int. J. Res. Publ. Rev.

View full text Add to dashboard Cite

This study examined the effect of international seaborne trade on productivity of port in Nigeria. The predictor variable (international seaborne trade) had its dimensions as oil export, non-oil export, oil import and non-oil import. The criterion variable (productivity of port) was measured with port productivity. The theories that underpinned the study included: Comparative advantage theory and theory of international trade, ex-post facto research design was used for the study.Secondary sources of data were used as the main data collection method. Relevant data for this study were collected from the annual reports and accounts of Nigerian Ports Authority, National Bureau of Statistics and Central Bank of Nigeria Annual Statistical Bulletins (1981 -2022). The population of the study consisted of all the 6 ports in Nigeria. The study used descriptive and inferential statistical tools to analyse the data. Specifically, multiple regression analiysis of ordinary least square estimation was used to test the hypotheses with the aid of SPSS 26.0. The reliability of the research instrument was validated on the basis of the secondary data sources. The study revealed that there are opportunities to develop and use oil and non-oil export channels for international seaborne trade through ports. The study revealed that ports provide avenues for the use of oil and non-oil imports to smoothen international seaborne trade that leads to effective seaport performance. The study found that non-oil export and non-oil imports offer veritable opportunities to optimize international seaborne trade efficiency in ports by helping to convert resources, build traffic intensity in trade and engage customers and stakeholders to utilize ports for their international business transactions. The study revealed that ports recognize that oil export, non-oil export, oil import and non-oil import provide the government and business community variety of options to engage in seaborne trade of intensive nature. The study concluded that: Oil export has insignificant effect on productivity of ports in Nigeria (t = 1.592). Nonoil export has negative and insignificant effect on productivity of ports in Nigeria (t = -1.040); oil import has insignificant effect on productivity (= 0.948); non-oil import has insignificant effect on productivity (t = 0.775). This study, therefore, recommended that Nigerian ports should prioritize and utilize the full capacity available in seaborne trade and channel oil exports and non-oil exports towards increasing and optimizing the productivity of ports in Nigeria.

show abstract

“…In ordinary least square method, there is a basic assumption that the value of the error terms is independent of predictor variables. When this assumption is broken, Two-Stage least squares (2SLS) regression technique is used to solve this problem (Panshak et al 2020). Two-Stage least squares (2SLS) assumes that, there is a secondary predictor that is correlated to the problematic predictor but not with the error term.…”

Section: Introductionmentioning

confidence: 99%

Two-Stage Least Squares and Three-Stage Least Squares in Modelling Nigerian Economic Growth

Osaro,

Uche,

Nenker

2024

IJDM

View full text Add to dashboard Cite

Every Country strives to attain economic stability. In a bid to achieve this, several economic indices are explored to make this a reality. This study focused on analysis of two stage and three stage least squares (2SLS and 3SLS) in modeling Nigerian economic growth. Considering the limitations of ordinary least squares (OLS) in dealing with simultaneous equations, we explored the use of two stage and three stage least squares which are more robust methods for this purpose. A secondary data was obtained from Central Bank of Nigeria bullion and the National Bureau of Statistics bulletin to investigate the relationship among economic growth, capital inflow and external debt servicing. Models for GDP, external debt servicing and capital inflow were obtained using R and Microsoft excel statistical packages. The study shows with coefficients of 3.9159 and -6.1878, that foreign debt- servicing has negative impact on GDP in the 2SLS and 3SLS models respectively: which is not significant in the 2SLS but significant in the 3SLS model. Also, GDP has negative, though significant effect on capital inflow with coefficient of -0.010495 and -0.0139109 in the 2SLS and 3SLS models respectively: a pointer to the effects of insecurity in Nigerian economic growth. The study recommends that Government should deplete existing external debt stock, increase utilization of capital stock and labour force, reduce borrowing rate, resort to alternative ways of enhancing both current and recurrent expenditures and deal with insecurity.

show abstract

Towards determining Nigeria’s economic growth path: A balance-of-payments constrained growth approach

Cited by 6 publications

References 20 publications

Energy Consumption, Economic Growth and Trade Balance in East Asia: A Panel Data Approach

Energy Consumption, Economic Growth and Trade Balance in East Asia: A Panel Data Approach

Effect of International Seaborne Trade on Productivity of Ports in Nigeria

Two-Stage Least Squares and Three-Stage Least Squares in Modelling Nigerian Economic Growth

Contact Info

Product

Resources

About