Abstract
This study is motivated by the need to examine the impact of non-oil export to economic growth in Nigeria for the period 1981-2012. The study adopted the export-led growth hypothesis as the framework of study. A production function which specified economic growth as a function of capital stock, labor and non-oil export is formulated to express the relationship between the dependent and the independent variables. The econometric techniques of Johansen cointegration and the vector error correction model are chosen to ascertain the impact and the long run relationship between the dependent and the explanatory variables. Also, the Granger causality technique is used to investigate a causality relationship between economic growth and the independent variables. Findings from the VEC analysis reveal that in both the short and long runs, non-oil export determines economic growth. Also, the cointegration analysis indicates a long run relationship between non-oil export and economic growth over the period under study. These two findings agree with the theory of export-led growth hypothesis. However, the Granger causality analysis indicates no causality relationship between non-oil export and economic growth. A uni-directional causality relationship runs from capital stock to economic growth. Also, a uni-directional causality relationship runs from economic growth to labor force.
| Original language | English |
|---|---|
| Pages (from-to) | 170-182 |
| Number of pages | 13 |
| Journal | Problems and Perspectives in Management |
| Volume | 13 |
| Issue number | 2 |
| Publication status | Published - 2015 |
Keywords
- Development
- Economic growth
- Export
- Non-oil sector
ASJC Scopus subject areas
- Business and International Management
- General Business,Management and Accounting
- Sociology and Political Science
- Public Administration
- Strategy and Management
- Information Systems and Management
- Law
