This study examines the impact of trade liberalization and trade flows in Nigeria using an econometric regression model of the Ordinary Least Square OLS . From the result of the OLS, it is observed that trade flows and export subsidies have a positive relationship with economic growth. This means that when trade flows and export subsidies are increasing, it will bring about more growth in Nigerian economy. On the other hand, import tariffs, import quotas and export taxes have a negative impact on economic growth in Nigeria. This means that if import tariffs, import quotas and export taxes are falling, there will be increase in economic growth. From the empirical work reviewed, some authors argued that trade liberalization and trade flows is positively related to economic growth while some authors argued that it is negatively related. The findings of the study also show that trade flows, import tariffs, import quotas and export taxes are statistically significant in explaining the Nigerian economy while export subsidy is statistically insignificant. The study therefore recommends that government should encourage import liberalization through reduction in tariff rates, gradual removal of Non-Tariff Barriers NTB , outright banning of certain goods which will ensure that our imports, following trade liberalization, is directed mainly on intermediate and capital goods. Imports of consumables would be brought to nil and therefore there would be a corresponding increase in the production of competitive import. Finally, the government should vigorously seek to improve the international stand of the economy with other economies of the world so as to enlarge the market for Nigerian exports. It should also re-orient its policy towards the external sector and ensure that the sector contribute optimally to output growth. Anionwu, Carol "Trade Liberalization and Trade Flows in Nigeria: An Aggregated Analysis" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-6 , October 2018, URL: http://www.ijtsrd.com/papers/ijtsrd18911.pdf
Public policy and trade liberalisation in nigerian economic developmentAlexander Decker
This document discusses public policy and trade liberalization in Nigerian economic development. It provides background on Nigeria's trade policies since 1986, which centered on greater market openness and integration into the global economy. It analyzes the impacts of specific trade liberalization policies like trade openness, privatization, investment flows, and import tariffs on Nigeria's economic development. The analysis finds that trade liberalization has not had a positive impact on Nigeria's economic development. Accountability, transparency, and good governance are recommended to improve economic policy and encourage self-reliance through export promotion and import substitution.
This document summarizes a research thesis that assesses Nigeria's trade policy between 1984 and 2011. It begins by providing background on Nigeria's pursuit of trade as an engine for development and the historical shifts in its trade policies from protectionism to liberalization. It describes the country's import substitution strategy in early independence, followed by a shift towards exports promotion in 1981. Further policy changes introduced greater trade restrictions and licensing in the 1980s in response to economic pressures. Recent trade policies under NEEDS since 2003 have aimed to gradually liberalize the trade regime while ensuring domestic adjustment costs do not outweigh benefits. However, the research finds that trade policies over this period have not significantly contributed to Nigeria's development.
This document discusses the relationship between export and economic growth in Nigeria. It begins with an abstract noting that while some economists argue export competition improves productivity, others argue it can negatively impact local industries. The document aims to empirically test the relationship between export and GDP in Nigeria. It provides background on Nigeria's economic history, including a reliance on oil exports. It reviews theories on how export can impact growth, including Ricardo's comparative advantage model. Tables show Nigeria's weak manufacturing exports as a percentage of total exports. The document aims to analyze problems with Nigeria's exports and propose solutions to strengthen manufacturing exports and economic growth.
- The document analyzes the relationship between export, import, and economic growth in Sri Lanka from 1970 to 2010.
- It finds that export and import have a significant positive relationship with each other and both have a significant impact on economic growth. Export and import are associated at 98%, indicating a strong positive association.
- The study uses time series analysis and regression analysis on data from 1970 to 2010. The results show export and import significantly influence economic growth in Sri Lanka.
Foreign trade and economic growth in nigeria (1980 2010)Alexander Decker
1. The document discusses foreign trade and economic growth in Nigeria from 1980-2010. It analyzes how foreign trade has impacted Nigeria's economy and growth over this period.
2. Nigeria traditionally relied on agricultural exports like cocoa, palm oil, and groundnuts, but since the 1960s oil has dominated exports. Oil exports now account for over 90% of total exports.
3. While foreign trade can promote growth, Nigeria still faces economic instability and import dependence. The heavy reliance on oil exports has also neglected development of other sectors like agriculture.
The document presents an empirical study investigating the nexus between Nigeria's agricultural sector export base and economic growth from 1980 to 2017. It finds that:
1) A cointegrating relationship exists between economic growth, agricultural raw material exports, and food exports in the long run.
2) In the long run, agricultural raw material exports have an inverse effect on economic growth, while food exports have a positive effect.
3) In the short run, positive dynamic influences run from both agricultural raw material and food exports to economic growth.
Impact of exports on economic growth of ecowas countries a comparative analys...Jean Michel Kodjané
This document is a project report submitted in partial fulfillment of a Master of Business Administration degree. It examines the impact of exports on economic growth in ECOWAS countries through a comparative analysis. The report includes a declaration by the author, a certificate from the project supervisor, acknowledgements, table of contents, list of abbreviations and an abstract. It provides an overview of ECOWAS and profiles key member countries including Benin, Burkina Faso, Cape Verde and Cote d'Ivoire. The report analyzes the composition and contribution of exports in these countries' economies.
This study investigates specifically the effect of Imports and Exports on Balance of Foreign Trade in Nigeria (GDP). Data were collected for period 2007 – 2016. Multiple Regressions Approach and Correlation Analysis was used, defining Imports, Exports and Openness as independent variables and Gross Domestic Product (GDP) as dependent variable. From the analysis, Imports, Exports and Openness contributes immensely to the Nigeria Gross Domestic Product (GDP). Contrary, Imports is positively and significant on Balance of Foreign Trade in Nigeria (GDP), Exports has positively and insignificant on Balance of Foreign Trade in Nigeria (GDP) and Openness has positively and insignificant on Balance of Foreign Trade in Nigeria (GDP). Also, there is a perfect positive association on gross domestic product between imports on the balance of foreign trade in Nigeria and it is significant, with a perfect positive association on gross domestic product and imports between exports on the balance of foreign trade in Nigeria and it is significant and there is a negative moderate association on gross domestic product, imports and exports between openness on the balance of foreign trade in Nigeria and it is insignificant. This study therefore recommends that Nigeria should enhance her Imports & Exports promotion strategies and expanding the Import sector for easy importation.
Public policy and trade liberalisation in nigerian economic developmentAlexander Decker
This document discusses public policy and trade liberalization in Nigerian economic development. It provides background on Nigeria's trade policies since 1986, which centered on greater market openness and integration into the global economy. It analyzes the impacts of specific trade liberalization policies like trade openness, privatization, investment flows, and import tariffs on Nigeria's economic development. The analysis finds that trade liberalization has not had a positive impact on Nigeria's economic development. Accountability, transparency, and good governance are recommended to improve economic policy and encourage self-reliance through export promotion and import substitution.
This document summarizes a research thesis that assesses Nigeria's trade policy between 1984 and 2011. It begins by providing background on Nigeria's pursuit of trade as an engine for development and the historical shifts in its trade policies from protectionism to liberalization. It describes the country's import substitution strategy in early independence, followed by a shift towards exports promotion in 1981. Further policy changes introduced greater trade restrictions and licensing in the 1980s in response to economic pressures. Recent trade policies under NEEDS since 2003 have aimed to gradually liberalize the trade regime while ensuring domestic adjustment costs do not outweigh benefits. However, the research finds that trade policies over this period have not significantly contributed to Nigeria's development.
This document discusses the relationship between export and economic growth in Nigeria. It begins with an abstract noting that while some economists argue export competition improves productivity, others argue it can negatively impact local industries. The document aims to empirically test the relationship between export and GDP in Nigeria. It provides background on Nigeria's economic history, including a reliance on oil exports. It reviews theories on how export can impact growth, including Ricardo's comparative advantage model. Tables show Nigeria's weak manufacturing exports as a percentage of total exports. The document aims to analyze problems with Nigeria's exports and propose solutions to strengthen manufacturing exports and economic growth.
- The document analyzes the relationship between export, import, and economic growth in Sri Lanka from 1970 to 2010.
- It finds that export and import have a significant positive relationship with each other and both have a significant impact on economic growth. Export and import are associated at 98%, indicating a strong positive association.
- The study uses time series analysis and regression analysis on data from 1970 to 2010. The results show export and import significantly influence economic growth in Sri Lanka.
Foreign trade and economic growth in nigeria (1980 2010)Alexander Decker
1. The document discusses foreign trade and economic growth in Nigeria from 1980-2010. It analyzes how foreign trade has impacted Nigeria's economy and growth over this period.
2. Nigeria traditionally relied on agricultural exports like cocoa, palm oil, and groundnuts, but since the 1960s oil has dominated exports. Oil exports now account for over 90% of total exports.
3. While foreign trade can promote growth, Nigeria still faces economic instability and import dependence. The heavy reliance on oil exports has also neglected development of other sectors like agriculture.
The document presents an empirical study investigating the nexus between Nigeria's agricultural sector export base and economic growth from 1980 to 2017. It finds that:
1) A cointegrating relationship exists between economic growth, agricultural raw material exports, and food exports in the long run.
2) In the long run, agricultural raw material exports have an inverse effect on economic growth, while food exports have a positive effect.
3) In the short run, positive dynamic influences run from both agricultural raw material and food exports to economic growth.
Impact of exports on economic growth of ecowas countries a comparative analys...Jean Michel Kodjané
This document is a project report submitted in partial fulfillment of a Master of Business Administration degree. It examines the impact of exports on economic growth in ECOWAS countries through a comparative analysis. The report includes a declaration by the author, a certificate from the project supervisor, acknowledgements, table of contents, list of abbreviations and an abstract. It provides an overview of ECOWAS and profiles key member countries including Benin, Burkina Faso, Cape Verde and Cote d'Ivoire. The report analyzes the composition and contribution of exports in these countries' economies.
This study investigates specifically the effect of Imports and Exports on Balance of Foreign Trade in Nigeria (GDP). Data were collected for period 2007 – 2016. Multiple Regressions Approach and Correlation Analysis was used, defining Imports, Exports and Openness as independent variables and Gross Domestic Product (GDP) as dependent variable. From the analysis, Imports, Exports and Openness contributes immensely to the Nigeria Gross Domestic Product (GDP). Contrary, Imports is positively and significant on Balance of Foreign Trade in Nigeria (GDP), Exports has positively and insignificant on Balance of Foreign Trade in Nigeria (GDP) and Openness has positively and insignificant on Balance of Foreign Trade in Nigeria (GDP). Also, there is a perfect positive association on gross domestic product between imports on the balance of foreign trade in Nigeria and it is significant, with a perfect positive association on gross domestic product and imports between exports on the balance of foreign trade in Nigeria and it is significant and there is a negative moderate association on gross domestic product, imports and exports between openness on the balance of foreign trade in Nigeria and it is insignificant. This study therefore recommends that Nigeria should enhance her Imports & Exports promotion strategies and expanding the Import sector for easy importation.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
11.[27 40]the impact of macroeconomic variables on non-oil exports performanc...Alexander Decker
This document summarizes a study that investigated the impact of macroeconomic variables (exchange rate, interest rate, government capital expenditure, government recurrent expenditure) on non-oil exports, the agricultural sector, manufacturing sector, and GDP in Nigeria from 1986-2010. The study used ordinary least squares regression and cointegration analysis. The results showed that exchange rate, government capital expenditure, and government recurrent expenditure were positively related to non-oil exports, agriculture, manufacturing, and GDP, while interest rate was negatively related. Based on these findings, the study recommends increasing investment in non-oil exports, agriculture, and manufacturing, as well as decreasing interest rates and increasing government expenditures.
A survey of foreign exchange rate determinants in nigeriaAlexander Decker
The document presents a study that investigates factors that determine foreign exchange rates in Nigeria over the period 1960-2011. Regression analysis was used to analyze the relationship between the foreign exchange rate and several independent macroeconomic variables including GDP, balance of payments, external reserves, inflation, deposit rates, and lending rates. The results of the regression showed no statistically significant relationship between the foreign exchange rate and any of the independent variables over the time period analyzed.
Extant literature revealed that international trade plays a key role to address the economic phenomena and can help to earn foreign exchange. Despite the accruable benefits from international trade and the countrys huge oil export that account for about 90 of its foreign exchange earnings, Nigerias trade balance and exchange rate remain unfavourable. The persistent rise in Nigerias exchange rate and unfavourable trade balance in recent time warrants an empirical probe. This study therefore examines the effect of exchange rate, domestic income, foreign income, consumption expenditure, money supply and interest rate on trade balance using a secondary time series data covering a period of thirty years from 1991 2020. The study employed a regression technique of the Ordinary Least Square OLS . All data used were secondary data obtained from the statistical bulletin of Central Bank of Nigeria CBN and National Bureau of Statistics NBS annual publications. After determining stationarity of the study variables using the ADF Statistic, it was discovered that the variables were all integrated at level, first and second difference, and found out to be stationary at their first difference. The study also using Johansen Cointegration Test, found that there is a long run relationship between the variables. Hence, the implication of this result is that there is a long run relationship between trade balance and other variables used in the model. From the result of the OLS, it is observed that exchange rate, domestic income, foreign income and money supply have a positive and significant impact on trade balance in Nigeria. The study recommends that the government should fixed or peg on the exchange rate through the central bank. This will enable the government to buy and sell its own currency against the currency to which it is pegged. The government should strive to reduce inflation to make exports more competitive. The government should also enhance supply side policies to increase long term competitiveness. Edokobi, Tonna David | Okpala, Ngozi Eugenia | Okoye, Nonso John "Exchange Rate and Trade Balance Nexus" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45079.pdf Paper URL: https://www.ijtsrd.com/management/public-sector-management/45079/exchange-rate-and-trade-balance-nexus/edokobi-tonna-david
Monetary Policy Shocks and Agricultural Output Growth in Nigeriaiosrjce
This document summarizes a research paper that investigated the transmission of monetary policy shocks to agricultural output growth in Nigeria from 1970 to 2012. The study used a vector autoregressive (VAR) model to analyze the data. The results showed that:
1) Both monetary policy shocks transmitted through interest rates and increases in production costs from inflation have significant impacts on agricultural output growth in Nigeria.
2) Monetary policy shocks transmitted through interest rate channels were found to be more effective at influencing agricultural output than other transmission mechanisms.
3) The study recommends Nigerian monetary policy focus more on using differential interest rates and other tools to revitalize the agricultural sector.
Effecto exchange rate fluctuations on manufacturing sector in nigeriaAlexander Decker
This document summarizes a research paper that examines the effects of exchange rate fluctuations on Nigeria's manufacturing sector from 1985 to 2010. It uses variables like manufacturing GDP, foreign investment, employment, and exchange rates. The study found that exchange rates and foreign investment have a positive impact on manufacturing GDP. It recommends that the government promote export diversification, restrict imports of goods also made in Nigeria, and maintain a stable exchange rate to improve the manufacturing sector performance. The paper provides context on Nigeria's fluctuating exchange rates over time and reviews several other studies that also found exchange rates influence economic growth and agricultural exports.
International Trade and Economic Growth: A Cointegration Analysis for UgandaPremier Publishers
International Trade and Economic Growth: A Cointegration Analysis for Uganda analyzes the long-run relationship between trade and economic growth in Uganda from 1982 to 2018 using the autoregressive distributed lag (ARDL) model. The results show that in the short-run, imports reduced economic growth while exports increased it. However, in the long-run, inflation reduced economic growth. Unit root tests confirmed the variables were integrated of order one (I(1)), allowing for cointegration tests which found a long-run relationship between the variables.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Economic globalization its impact on the growth of non oil supply in nigeriaAlexander Decker
- The document examines the impact of economic globalization on the growth of non-oil supply in Nigeria from 1970-2011. It employs statistical analysis to analyze the relationship between non-oil supply growth and factors like economic openness, GDP, capital goods imports, and oil exports.
- The results show that while economic globalization had an insignificant impact on non-oil supply growth, factors like GDP, relative prices, capital goods imports, and exchange rates positively impacted non-oil supply. However, world income and oil exports negatively impacted non-oil supply growth.
- Despite policies aimed at diversifying the economy away from oil since the 1980s, non-oil exports as a percentage of total exports declined over the period
This document summarizes a research paper that examines the relationship between trade deficits, foreign direct investment, and economic growth in Rwanda from 2000 to 2015. It finds that trade deficits have a negative long-run impact on economic growth, while foreign direct investment has a positive short-run and long-run impact. The paper uses cointegration and vector error correction models to analyze the data and confirms these relationships statistically. It concludes that Rwanda should continue policies to improve net exports and foreign direct investment to support economic growth.
Import, Export and Economic Growth: the Case of Lower Income CountryIOSRJBM
Bangladesh is now considered as a lower middle-incomecountry by the blessing of international trade.Therefore, Bangladesh needs to take an effective policymaking decision in terms of international trade fortheirfurther development. Hence it is important to check whether Bangladesh needs more import or export for its further development. As a result, current research tries to see the relationship between import and GDP growth of Bangladesh by taking 32 years (1981-1992) of time series data.Relevant data were collected from the Bangladesh Bank website and World Bank Database. From the analysis, theresearcherconcludes that import is negatively related with GPD growth as well as GDP growth rate is also negatively related with Import.
Impact of Visual Merchandising on Impulsive Buying Behavior of Sri Lankan Mod...YogeshIJTSRD
This document discusses a study on the impact of visual merchandising on impulsive buying behavior among Sri Lankan modern trade customers. It finds that product displays and promotional signs have a strong positive impact on impulsive purchases. The document provides background on visual merchandising and impulsive buying behavior. It also reviews theories and factors related to impulsive buying, such as consumer emotions and retail environment characteristics. Visual merchandising techniques aim to attract customers and elicit desires to influence spontaneous purchasing.
Specific Analysis of FDI and Economic Growth in Nigeria and Ghanainventionjournals
This study analyses the relationship between FDI and economic growth in Nigeria and Ghana and how these relationship differ between both countries. This was explored using annual time series data obtained from the World Bank WDI for the period 1970-2015. This paper adopted the Absorptive Capacity theoretical framework and using the Seemingly Unrelated Regression (SUR) technique, regressed economic growth (proxied by the growth rate of per capita real GDP) on FDI, FDI transmission channels, and five other control variables. After conducting all the necessary and sufficient statistical, economic and econometric tests, the results show that: (i) generally, FDI exerts some positive impact on economic growth in both countries; (ii) the absorptive capacity theory does not hold in both countries, (iii) there is a bi-directional causality running from FDI to economic growth and from economic growth to FDI in both countries; (iv) the relationship between economic growth and FDI does not differ between both countries.
Global growth continues to remain tepid. In US, new data releases are pointing towards a mild recovery, but not compelling enough to force the Federal Reserve to change its monetary policy stance. Labour market is recovering slowly and unemployment rate has continued to decline. On the domestic front, inflation has continued to remain subdued. Given the downward trajectory of inflation and limited upside risks in the wake of benign global commodity prices, the Central Bank chose to cut interest rates by 50 bps in end-September 2015.
In the current issue of Economy Matters, we analyse the growth prospects of Euro Area economies and US economy, in the section on Global Trends. In Domestic Trends, data trends in IIP, inflation, trade and monetary policy are analysed. Corporate Performance section analyses the corporate results for 1QFY16. The Sectoral Spotlight for this issue is on ‘Make in India and the Potential for Job Creation’. In Focus of the Month, the important issue of ‘Financial Inclusion’ has been covered.
Monetary Policy and Trade Balance in NigeriaYogeshIJTSRD
Nigeria apex bank Central Bank of Nigeria CBN has continued to battle with the job of reviving the ailing economy and putting it on the path of growth. The economy has witnessed unprecedented job loss, rising poverty level, accelerating inflation, sluggish economic growth and disequilibrium in the balance of trade. The study therefore examine the effect of monetary policy on trade balance in Nigeria. Specifically the study ascertained the extent to which inflation, demand deposit, liquidity ratio, exchange rate and interest rate have influenced trade balance in Nigeria using an econometric regression model of the Ordinary Least Square OLS . From the result of the OLS, it is observed that monetary policy rate, demand deposit, liquidity ratio and exchange rate have a significant positive impact on foreign trade in Nigeria. This means that increases in monetary policy rate, demand deposit, liquidity ratio and exchange rate, will lead to increase in foreign trade in Nigeria. On the other, inflation rate and interest rate has a significant negative impact on foreign trade in Nigeria, meaning that as inflation rate and interest rate increases, will be bring about a decline in foreign trade in Nigeria. Based on the findings of this study, the study recommends that the government should employ a contractionary monetary policy to fight inflation by reducing the money supply in the country through decreased bond price. inflation, demand deposit, liquidity ratio, exchange rate and interest rate have influenced trade balance in Nigeria. The government should intervene in the foreign exchange market in order to build reserves for themselves or provide them to the bank to help stabilize the exchange rate. The government should strive to improve trade performance in the short and long run. They should also reduce government spending and tax capital inflow. Edokobi, Tonna David | Okpala, Ngozi Eugenia | Okoye, Nonso John "Monetary Policy and Trade Balance in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45080.pdf Paper URL: https://www.ijtsrd.com/management/public-sector-management/45080/monetary-policy-and-trade-balance-in-nigeria/edokobi-tonna-david
The theoretical and empirical relationship between foreign trade and economic growth has extensively been discussed in economics in recent years. There has been a long held belief about the positive correlation between these two variables. In spite of this countless study, the link has been proven to be empirically weak. In view of this, the aim of this dissertation is to empirically examine the relationship between trade and growth. Using trade openness and ordinary least sequence was employed to estimate the impact of foreign trade on Gross domestic product.
Empirical study of the relationship between available forms of finance and pe...Alexander Decker
This document reports on a study that investigated the relationship between available forms of finance and the performance of intermediate cocoa processing firms in Lagos State, Nigeria. The study found a strong association (R=0.916) between available forms of finance and cocoa export performance. Available forms of finance were able to account for 84% of changes in cocoa export performance. Funds sourced through commercial banks in the form of loans had a strong effect on changes in firm performance, while retained profits had a moderate effect. Funding sourced from development banks had a less than satisfactory effect. The study recommends that policymakers route intervention funds through commercial banks but monitor interest rates charged.
Exchange Rate Deregulation and Nigeria’s Industrial Output (1970-2015)AJHSSR Journal
The study examined the effect of exchange rate deregulation on the industrial output of Nigeria
over the period 1970 – 2015. Data for the study comprising Nigeria‟s Industrial Sector‟s Output, Exchange Rate,
Capacity Utilization and Inflation Rate were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin
2015 edition. The data were analyzed using Error Correction Model and Ordinary Least Squares technique. The
result of the analysis revealed that exchange rate deregulation impacted positively and significantly on Industrial
output over the long run period. The dummy variable, which was introduced in the data to segment pre-SAP and
post-SAP periods also showed that exchange rate deregulation was beneficial to the industrial sector. In
conclusion, the study recommended that exchange rate should continue to be deregulated and closely monitored
to discourage rent-seekers and price arbitrage. Also, the government should support export-led growth,
particularly in provision of incentives and soft loans to aid in the export of locally produced industrial outputs.
In addition, government should create a favorable and enabling environment for production such as constant
supply of electricity and good road networks.
Empirical review of globalization and nigerian economic performanceAlexander Decker
This document discusses globalization and Nigeria's economic performance within the global economy. It begins by defining globalization as the increasing economic integration and interdependence between countries through cross-border movement of goods, services, technologies, and capital. It then examines several indicators of Nigeria's level of integration, such as trade ratios, foreign direct investment, and economic openness. The document concludes that while globalization can stimulate economic growth, Nigeria has not benefited enough due to its overdependence on oil exports and neglect of other sectors. It recommends diversifying the economy away from oil and improving conditions for sectors and foreign investment.
Nigeria china trade relations implication on the nigerian domestic economyAlexander Decker
This document summarizes a research study on the trade relations between Nigeria and China and its implications for Nigeria's domestic economy. The following key points are made:
1) Trade between Nigeria and China has increased significantly in recent decades, reaching $7.7 billion in 2010, however China exports more to Nigeria than it imports, resulting in a trade imbalance.
2) Nigerian manufacturers and entrepreneurs perceive that the influx of cheap Chinese imports is negatively impacting the competitiveness of domestic industry due to issues like substandard goods and lack of access to credit and stable electricity.
3) For Nigeria to better leverage its relationship with China and grow its domestic economy, the study recommends that the Nigerian government encourage more direct
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
11.[27 40]the impact of macroeconomic variables on non-oil exports performanc...Alexander Decker
This document summarizes a study that investigated the impact of macroeconomic variables (exchange rate, interest rate, government capital expenditure, government recurrent expenditure) on non-oil exports, the agricultural sector, manufacturing sector, and GDP in Nigeria from 1986-2010. The study used ordinary least squares regression and cointegration analysis. The results showed that exchange rate, government capital expenditure, and government recurrent expenditure were positively related to non-oil exports, agriculture, manufacturing, and GDP, while interest rate was negatively related. Based on these findings, the study recommends increasing investment in non-oil exports, agriculture, and manufacturing, as well as decreasing interest rates and increasing government expenditures.
A survey of foreign exchange rate determinants in nigeriaAlexander Decker
The document presents a study that investigates factors that determine foreign exchange rates in Nigeria over the period 1960-2011. Regression analysis was used to analyze the relationship between the foreign exchange rate and several independent macroeconomic variables including GDP, balance of payments, external reserves, inflation, deposit rates, and lending rates. The results of the regression showed no statistically significant relationship between the foreign exchange rate and any of the independent variables over the time period analyzed.
Extant literature revealed that international trade plays a key role to address the economic phenomena and can help to earn foreign exchange. Despite the accruable benefits from international trade and the countrys huge oil export that account for about 90 of its foreign exchange earnings, Nigerias trade balance and exchange rate remain unfavourable. The persistent rise in Nigerias exchange rate and unfavourable trade balance in recent time warrants an empirical probe. This study therefore examines the effect of exchange rate, domestic income, foreign income, consumption expenditure, money supply and interest rate on trade balance using a secondary time series data covering a period of thirty years from 1991 2020. The study employed a regression technique of the Ordinary Least Square OLS . All data used were secondary data obtained from the statistical bulletin of Central Bank of Nigeria CBN and National Bureau of Statistics NBS annual publications. After determining stationarity of the study variables using the ADF Statistic, it was discovered that the variables were all integrated at level, first and second difference, and found out to be stationary at their first difference. The study also using Johansen Cointegration Test, found that there is a long run relationship between the variables. Hence, the implication of this result is that there is a long run relationship between trade balance and other variables used in the model. From the result of the OLS, it is observed that exchange rate, domestic income, foreign income and money supply have a positive and significant impact on trade balance in Nigeria. The study recommends that the government should fixed or peg on the exchange rate through the central bank. This will enable the government to buy and sell its own currency against the currency to which it is pegged. The government should strive to reduce inflation to make exports more competitive. The government should also enhance supply side policies to increase long term competitiveness. Edokobi, Tonna David | Okpala, Ngozi Eugenia | Okoye, Nonso John "Exchange Rate and Trade Balance Nexus" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45079.pdf Paper URL: https://www.ijtsrd.com/management/public-sector-management/45079/exchange-rate-and-trade-balance-nexus/edokobi-tonna-david
Monetary Policy Shocks and Agricultural Output Growth in Nigeriaiosrjce
This document summarizes a research paper that investigated the transmission of monetary policy shocks to agricultural output growth in Nigeria from 1970 to 2012. The study used a vector autoregressive (VAR) model to analyze the data. The results showed that:
1) Both monetary policy shocks transmitted through interest rates and increases in production costs from inflation have significant impacts on agricultural output growth in Nigeria.
2) Monetary policy shocks transmitted through interest rate channels were found to be more effective at influencing agricultural output than other transmission mechanisms.
3) The study recommends Nigerian monetary policy focus more on using differential interest rates and other tools to revitalize the agricultural sector.
Effecto exchange rate fluctuations on manufacturing sector in nigeriaAlexander Decker
This document summarizes a research paper that examines the effects of exchange rate fluctuations on Nigeria's manufacturing sector from 1985 to 2010. It uses variables like manufacturing GDP, foreign investment, employment, and exchange rates. The study found that exchange rates and foreign investment have a positive impact on manufacturing GDP. It recommends that the government promote export diversification, restrict imports of goods also made in Nigeria, and maintain a stable exchange rate to improve the manufacturing sector performance. The paper provides context on Nigeria's fluctuating exchange rates over time and reviews several other studies that also found exchange rates influence economic growth and agricultural exports.
International Trade and Economic Growth: A Cointegration Analysis for UgandaPremier Publishers
International Trade and Economic Growth: A Cointegration Analysis for Uganda analyzes the long-run relationship between trade and economic growth in Uganda from 1982 to 2018 using the autoregressive distributed lag (ARDL) model. The results show that in the short-run, imports reduced economic growth while exports increased it. However, in the long-run, inflation reduced economic growth. Unit root tests confirmed the variables were integrated of order one (I(1)), allowing for cointegration tests which found a long-run relationship between the variables.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Economic globalization its impact on the growth of non oil supply in nigeriaAlexander Decker
- The document examines the impact of economic globalization on the growth of non-oil supply in Nigeria from 1970-2011. It employs statistical analysis to analyze the relationship between non-oil supply growth and factors like economic openness, GDP, capital goods imports, and oil exports.
- The results show that while economic globalization had an insignificant impact on non-oil supply growth, factors like GDP, relative prices, capital goods imports, and exchange rates positively impacted non-oil supply. However, world income and oil exports negatively impacted non-oil supply growth.
- Despite policies aimed at diversifying the economy away from oil since the 1980s, non-oil exports as a percentage of total exports declined over the period
This document summarizes a research paper that examines the relationship between trade deficits, foreign direct investment, and economic growth in Rwanda from 2000 to 2015. It finds that trade deficits have a negative long-run impact on economic growth, while foreign direct investment has a positive short-run and long-run impact. The paper uses cointegration and vector error correction models to analyze the data and confirms these relationships statistically. It concludes that Rwanda should continue policies to improve net exports and foreign direct investment to support economic growth.
Import, Export and Economic Growth: the Case of Lower Income CountryIOSRJBM
Bangladesh is now considered as a lower middle-incomecountry by the blessing of international trade.Therefore, Bangladesh needs to take an effective policymaking decision in terms of international trade fortheirfurther development. Hence it is important to check whether Bangladesh needs more import or export for its further development. As a result, current research tries to see the relationship between import and GDP growth of Bangladesh by taking 32 years (1981-1992) of time series data.Relevant data were collected from the Bangladesh Bank website and World Bank Database. From the analysis, theresearcherconcludes that import is negatively related with GPD growth as well as GDP growth rate is also negatively related with Import.
Impact of Visual Merchandising on Impulsive Buying Behavior of Sri Lankan Mod...YogeshIJTSRD
This document discusses a study on the impact of visual merchandising on impulsive buying behavior among Sri Lankan modern trade customers. It finds that product displays and promotional signs have a strong positive impact on impulsive purchases. The document provides background on visual merchandising and impulsive buying behavior. It also reviews theories and factors related to impulsive buying, such as consumer emotions and retail environment characteristics. Visual merchandising techniques aim to attract customers and elicit desires to influence spontaneous purchasing.
Specific Analysis of FDI and Economic Growth in Nigeria and Ghanainventionjournals
This study analyses the relationship between FDI and economic growth in Nigeria and Ghana and how these relationship differ between both countries. This was explored using annual time series data obtained from the World Bank WDI for the period 1970-2015. This paper adopted the Absorptive Capacity theoretical framework and using the Seemingly Unrelated Regression (SUR) technique, regressed economic growth (proxied by the growth rate of per capita real GDP) on FDI, FDI transmission channels, and five other control variables. After conducting all the necessary and sufficient statistical, economic and econometric tests, the results show that: (i) generally, FDI exerts some positive impact on economic growth in both countries; (ii) the absorptive capacity theory does not hold in both countries, (iii) there is a bi-directional causality running from FDI to economic growth and from economic growth to FDI in both countries; (iv) the relationship between economic growth and FDI does not differ between both countries.
Global growth continues to remain tepid. In US, new data releases are pointing towards a mild recovery, but not compelling enough to force the Federal Reserve to change its monetary policy stance. Labour market is recovering slowly and unemployment rate has continued to decline. On the domestic front, inflation has continued to remain subdued. Given the downward trajectory of inflation and limited upside risks in the wake of benign global commodity prices, the Central Bank chose to cut interest rates by 50 bps in end-September 2015.
In the current issue of Economy Matters, we analyse the growth prospects of Euro Area economies and US economy, in the section on Global Trends. In Domestic Trends, data trends in IIP, inflation, trade and monetary policy are analysed. Corporate Performance section analyses the corporate results for 1QFY16. The Sectoral Spotlight for this issue is on ‘Make in India and the Potential for Job Creation’. In Focus of the Month, the important issue of ‘Financial Inclusion’ has been covered.
Monetary Policy and Trade Balance in NigeriaYogeshIJTSRD
Nigeria apex bank Central Bank of Nigeria CBN has continued to battle with the job of reviving the ailing economy and putting it on the path of growth. The economy has witnessed unprecedented job loss, rising poverty level, accelerating inflation, sluggish economic growth and disequilibrium in the balance of trade. The study therefore examine the effect of monetary policy on trade balance in Nigeria. Specifically the study ascertained the extent to which inflation, demand deposit, liquidity ratio, exchange rate and interest rate have influenced trade balance in Nigeria using an econometric regression model of the Ordinary Least Square OLS . From the result of the OLS, it is observed that monetary policy rate, demand deposit, liquidity ratio and exchange rate have a significant positive impact on foreign trade in Nigeria. This means that increases in monetary policy rate, demand deposit, liquidity ratio and exchange rate, will lead to increase in foreign trade in Nigeria. On the other, inflation rate and interest rate has a significant negative impact on foreign trade in Nigeria, meaning that as inflation rate and interest rate increases, will be bring about a decline in foreign trade in Nigeria. Based on the findings of this study, the study recommends that the government should employ a contractionary monetary policy to fight inflation by reducing the money supply in the country through decreased bond price. inflation, demand deposit, liquidity ratio, exchange rate and interest rate have influenced trade balance in Nigeria. The government should intervene in the foreign exchange market in order to build reserves for themselves or provide them to the bank to help stabilize the exchange rate. The government should strive to improve trade performance in the short and long run. They should also reduce government spending and tax capital inflow. Edokobi, Tonna David | Okpala, Ngozi Eugenia | Okoye, Nonso John "Monetary Policy and Trade Balance in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45080.pdf Paper URL: https://www.ijtsrd.com/management/public-sector-management/45080/monetary-policy-and-trade-balance-in-nigeria/edokobi-tonna-david
The theoretical and empirical relationship between foreign trade and economic growth has extensively been discussed in economics in recent years. There has been a long held belief about the positive correlation between these two variables. In spite of this countless study, the link has been proven to be empirically weak. In view of this, the aim of this dissertation is to empirically examine the relationship between trade and growth. Using trade openness and ordinary least sequence was employed to estimate the impact of foreign trade on Gross domestic product.
Empirical study of the relationship between available forms of finance and pe...Alexander Decker
This document reports on a study that investigated the relationship between available forms of finance and the performance of intermediate cocoa processing firms in Lagos State, Nigeria. The study found a strong association (R=0.916) between available forms of finance and cocoa export performance. Available forms of finance were able to account for 84% of changes in cocoa export performance. Funds sourced through commercial banks in the form of loans had a strong effect on changes in firm performance, while retained profits had a moderate effect. Funding sourced from development banks had a less than satisfactory effect. The study recommends that policymakers route intervention funds through commercial banks but monitor interest rates charged.
Exchange Rate Deregulation and Nigeria’s Industrial Output (1970-2015)AJHSSR Journal
The study examined the effect of exchange rate deregulation on the industrial output of Nigeria
over the period 1970 – 2015. Data for the study comprising Nigeria‟s Industrial Sector‟s Output, Exchange Rate,
Capacity Utilization and Inflation Rate were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin
2015 edition. The data were analyzed using Error Correction Model and Ordinary Least Squares technique. The
result of the analysis revealed that exchange rate deregulation impacted positively and significantly on Industrial
output over the long run period. The dummy variable, which was introduced in the data to segment pre-SAP and
post-SAP periods also showed that exchange rate deregulation was beneficial to the industrial sector. In
conclusion, the study recommended that exchange rate should continue to be deregulated and closely monitored
to discourage rent-seekers and price arbitrage. Also, the government should support export-led growth,
particularly in provision of incentives and soft loans to aid in the export of locally produced industrial outputs.
In addition, government should create a favorable and enabling environment for production such as constant
supply of electricity and good road networks.
Empirical review of globalization and nigerian economic performanceAlexander Decker
This document discusses globalization and Nigeria's economic performance within the global economy. It begins by defining globalization as the increasing economic integration and interdependence between countries through cross-border movement of goods, services, technologies, and capital. It then examines several indicators of Nigeria's level of integration, such as trade ratios, foreign direct investment, and economic openness. The document concludes that while globalization can stimulate economic growth, Nigeria has not benefited enough due to its overdependence on oil exports and neglect of other sectors. It recommends diversifying the economy away from oil and improving conditions for sectors and foreign investment.
Nigeria china trade relations implication on the nigerian domestic economyAlexander Decker
This document summarizes a research study on the trade relations between Nigeria and China and its implications for Nigeria's domestic economy. The following key points are made:
1) Trade between Nigeria and China has increased significantly in recent decades, reaching $7.7 billion in 2010, however China exports more to Nigeria than it imports, resulting in a trade imbalance.
2) Nigerian manufacturers and entrepreneurs perceive that the influx of cheap Chinese imports is negatively impacting the competitiveness of domestic industry due to issues like substandard goods and lack of access to credit and stable electricity.
3) For Nigeria to better leverage its relationship with China and grow its domestic economy, the study recommends that the Nigerian government encourage more direct
External Trade Benefits and Poverty Reduction in English Speaking West Africa...iosrjce
This research examines the impact of external trade benefits on poverty reduction in five English
Speaking West African Countries (ESWACs) from 1980 to 2013. These countries include; The Gambia, Ghana,
Liberia, Nigeria and Sierra Leone). The study expressed external trade benefits (ETB) as increase in export
earnings (EXE), trade openness (TOP), total government expenditure (TGE) and reduction in foreign exchange
rate (FER), while poverty level is expressed as real gross domestic income (GNI) per capita current US Dollar.
Theoretically, the study relied on five trade theories, in practice; the study constructs a balanced panel data
structure (BPDS) and methodologically, departs from the classical OLS and 1st generation panel econometric
techniques to adopting recently developed 2nd generation panel data econometric methods. The results of the
study reveal that external trade benefits were not found to be significant enough to reduce the poverty level in
ESWACs from 1980 to 2013.This impliesthat external trade benefits did not significantly increase GNI per
capita in ESWACs within the period of study. Based on this result, the study therefore concluded that the impact
of external trade benefits on poverty level is a trivial matter because external trade benefits have not
comprehensively and significantly augmented the status of real gross domestic income (GNI) percapital
currentUSDollar of English speaking West African countries within the period of study. Following this
conclusion we recommended, among others, that policy implication on the result of co-integration of the panel
equation 2 is that more credible expansionary fiscal policy should be pursued as this will help to pump more
money into circulation with the aim of creating and expanding employment opportunities that would be able to
reduce poverty in the region and cut in public investment spending on agriculture and industrial sectors should
be avoided so that the countries will be encouraged to produce locally and also export.
Effect of FDI Inflows on Real Sector Economy of Nigeriaijtsrd
The study have examined the effect of sectorial FDI to economic growth of Nigeria within 34 year period spanning 1987 to 2020. FDI was disaggregated into four variables being agriculture, construction, manufacturing, and oil and gas as the independent variable. Economic growth was the dependent variable. The data were obtained from CBN statistical bulletin and Annual reports. The repression analysed using the ARDL technique. The results showed that FDI to various sector of the economy has significant long run effect on economic growth of Nigeria. Furthermore, The short run dynamic results revealed that 1 FDI to agriculture has interjecting effect with positive effect in the first lag 1 and successive negative effects in lags 2 and 4 2 FDI to construction have a significant positive effect on economic growth 3 FDI to manufacturing sector has negative effect on economic growth and 4 FDI to oil and gas sector has positive effect on economic growth. The study posits that FDI inflows is a veritable driver to economic growth to developing economies like Nigeria. Among the recommendations of this study is that the government should encourage local investment into the agriculture and manufacturing to cushion the adverse impact of FDI to Nigeria growth. Ositadimma Victor Okpalla | Sylvia Chikodi Anaele | Ifeanyi Jude Ekwunife "Effect of FDI Inflows on Real Sector Economy of Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd51910.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/51910/effect-of-fdi-inflows-on-real-sector-economy-of-nigeria/ositadimma-victor-okpalla
This study examined the effects of exchange rate fluctuation on the Industrial Output Growth in Nigeria using time series data sparring from the period 1986 to 2015. Johansen’s Co-Integration model was employed to explore the long-run relationship among the variables used, while the Vector Error Correction model (VECM) was used to evaluate the short and long-run dynamic among the variables and the Granger Causality used to measure contemporaneous relationship among the endogenous variables. The dynamic correlation of the variables was captured by the analyses of impulse response and variance decomposition. The results of the analysis indicate a unidirectional causality from Exchange rate to Industrial output. The response of industrial output to the shock from exchange rate was positive and significant; more specifically in the initial years, while response to shock from other variables was little in magnitude and not as significant as exchange rate. From the Forecast Error Variance Decomposition (FEVD), the study revealed that although the main source of variance in output are own shocks, innovation in the exchange rate accounted for a higher proportion in the variation of industrial output than that of other associated variables (Inflation, Interest rate and Net Export). The study concluded that exchange rate has potentials of causing significant changes in industrial output in Nigeria. Against this backdrop, the study recommended the need for more macroeconomic policy attention to the proper management of the exchange rate, and the need to strengthen the link between agriculture and the industrial sector to reduce the reliance of the sector on import of inputs to a reasonable level.
Exchange Rate Fluctuation and Real Sector Output in Nigeria A Disaggregated A...ijtsrd
This study examined the effect of exchange rate fluctuation on real sector output in Nigeria. It is the goal of every economy to have a stable rate of exchange with its trading partners. In Nigeria, this goal was not attained in spite of the fact that the country embarked on devaluation to promote export and stabilize the rate of exchange. Despite various efforts by the government to maintain a stable exchange rate, the Naira has depreciated throughout the 1980s to date. It is worrisome to note that Nigerian economy is under industrialized and its capacity utilization is also low. Specifically, this study examined the effect of exchange rate fluctuation on agricultural, industrial, building and construction, and trade sector outputs. It employed an ex post facto research design and the main statistical was the Auto Regressive Distributive Lag ARDL estimation technique using secondary data sourced from the Central bank of Nigeria statistical bulletins from 1986 2021. The result of the analyses revealed that exchange rate fluctuation had significant negative effect on agricultural sector output. Also, exchange rate was found to have a significant and negative effect on industrial, building and construction, and also trade sector output in Nigeria even though these effects were negative. The study concludes that although foreign exchange had significant effect on the real sector, such effect were negative thus displaying an inverse relationship. Sequel to these findings, there is a need for government at all levels federal, state, and local to actually invest in agriculture in an effort to match domestic demand and export to compete with crude oil for foreign exchange earnings. The Central Bank of Nigeria CBN is to provide foreign exchange relief measures for the acquisition of raw commodities that the nation naturally lacks while maintaining minimal exchange rate fluctuation to encourage local production by industries. Chrisphyna Ugochi Ahaneku | Ikenna Cyprain Egungwu | Amalachukwu Chijindu Ananwude "Exchange Rate Fluctuation and Real Sector Output in Nigeria: A Disaggregated Analysis (1986 - 2021)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-1 , February 2023, URL: https://www.ijtsrd.com/papers/ijtsrd53838.pdf Paper URL: https://www.ijtsrd.com/economics/international-economics/53838/exchange-rate-fluctuation-and-real-sector-output-in-nigeria-a-disaggregated-analysis-1986---2021/chrisphyna-ugochi-ahaneku
Determinants of Foreign Direct Investment in Nigeriaijtsrd
This document examines the determinants of foreign direct investment (FDI) in Nigeria. It provides context on FDI and its importance for economic growth. FDI inflows to Nigeria have experienced volatility over time. The study aims to determine what factors influence FDI in Nigeria using econometric analysis. Specifically, it will analyze the impact of trade openness, market size, infrastructure, human capital, labor force, natural resources, exchange rate, and inflation rate on FDI inflows. The document reviews several previous studies that have examined factors influencing FDI in Nigeria and other countries. It finds that market size, trade openness, exchange rates, and inflation are often statistically significant determinants of FDI.
Analyzing the Effect of Government Expenditure on Inflation Rate in Nigeria 1...ijtsrd
Nigeria is a developing economy with active participation of the federal government in various economic sectors not only to promote economic growth and development but also to instill fiscal and economic discipline in the economy. Government participation in the economy means greater funding of economic activities and this is expected to impact on economic indicators. This study analyses the effect of government expenditure on inflation rate in Nigeria within a period of 39 years spanning 1981 2019 . The study specifically seek to ascertain, determine, explore and assess the extent to which government expenditures on key sectors of agriculture, education, health and telecommunications respectively affect inflation rate in Nigeria. In line with the specific objectives of this study, four research questions are raised and four hypotheses duly formulated. Data used for this study were collected from the Central Bank of Nigeria CBN Statistical Bulletin. Government Expenditure on Agriculture GOA , Government Expenditure on Education GOE , Government Expenditure on Health GOH and Government Expenditure on Telecommunication GOT are the independent variables while inflation rate INF is the dependent variable. Descriptive statistics, diagnostic test employing the Augmented Dickey Fuller and a multivariate regression based on Johanson Cointegration and Error Correction Model ECM are used to analyze the data. Our findings indicate that government expenditures on education and agriculture have positive but insignificant effect on inflation rate and on the other hand, government expenditure on health and government expenditure on telecommunications have positive and significant effect on inflation rate. Based on our findings, the study recommends that government should increase its allocation to the health and education sectors to trigger increased skills and healthcare of economic operators for enhanced human capital development and economic productivity. Government should also provide adequate infrastructures to facilitate economic growth and reduce high inflation rate. Mbanefo, Patrick Amaechi | Atueyi, Chidi Leonard "Analyzing the Effect of Government Expenditure on Inflation Rate in Nigeria (1981-2019)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-2 , February 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49237.pdf Paper URL: https://www.ijtsrd.com/management/management-development/49237/analyzing-the-effect-of-government-expenditure-on-inflation-rate-in-nigeria-19812019/mbanefo-patrick-amaechi
INTERNATIONAL TRADE OF EXPORT AND IMPORT DURING COVID-19 PANDEMIC IN INDIAN E...chelliah paramasivan
International trade is a major concept welfare of labour intensive, capital, investment and technology resources promote marketing background throughout world. International trade exchanges of goods and services between countries developing economy inflation. International trade is exchanges of capital good and consumed product transfer across the international borders or territiores. International trade is lockdown period faliure of commercial activities not supply of home appliance products, natural resources during COVID-19 pandemic in Indian economy. Government of India not finalised the export and import extend the marketing network, working capital and reduction of economy growth rate. This paper highlighted is international trade of export and import during COVID-19 pademic in Indian economy.
This is a lirature review sourced from Internet. It is not minezerfudimd
This document discusses the Two-Gap model of economic growth in Nigeria from 1970-2007 using vector autoregression analysis. It finds that foreign aid does not have a clear positive impact on economic growth in Nigeria, while foreign direct investment (FDI) does, but is volatile. The study also finds that filling trade gaps determined by aid requirements alone will not necessarily boost trade and growth. It reviews literature on the relationship between FDI and economic growth, finding mixed evidence. Determinants of FDI identified include market size, infrastructure, political stability, natural resources, and macroeconomic policies.
Abstract: Nigeria is one of the economies with great demand for goods and services and has attracted some foreign direct investment over the years. The amount of foreign direct investment inflow in to Nigeria has reached US $ 2.23 billion in 2003 and it rose to US $ 5.31 billion in 2004 (a 138 % increase), this figure rose again to US $ 9.92 billion (an 87% increase) in 2005. The figure however declined slightly to US $ 9.44 in 2006 while it has been on astronomical fall since 2006 till date. (CBN, 2011). The question that comes to mind is, do these for actually contribute to economic growth in Nigeria? If foreign direct investment actually contribute to growth, then, the sustainability of foreign direct investment is a worthwhile activity and a way of achieving this sustainability is by identifying the factors contributing to its growth with a view to ensuring its enhancement. The nose driving this research is to determine the short run impact of FDI on economic growth, OLS with ward test analysis was employed to determine the short run analysis of impact of FDI on economic growth. The result shows that all the explanatory variables such as Gross Fixed capital formation (GFCF), Total labour force (TLBF), Foreign Direct Investment (FDI) Lending rate and Average Manufacturing Capacity Utilization (AMCU) grossly affect economic growth in Nigeria. The result also implies that there exist a singleton (short run) impact of FDI on economic growth, recommendation was made that government must put in place all the pull factors such as good road, stable power supply and most essentially security of life and property of foreign investors in order to reduce the level of unemployment which serves as impediment to sustainable development in the Nation Nigeria.
This study investigates specifically the impact of Oil and Non-Oil Products on Nigeria Gross Domestic Product
(GDP). Data were collected for period 1981-2016 Descriptive Statistics and Multiple Linear Regression Approach
was used, defining Oil, and Non-Oil Products as independent variables and Gross Domestic Product (GDP) as
dependent variable. From the analysis, Oil, and Non-Oil Products contributes immensely to the Nigeria Gross
Domestic Product (GDP). Contrary, the Oil Product is positively and insignificant on economic growth of Nigeria
(GDP) and the Non-Oil Product has positively and significant on economic growth of Nigeria (GDP). This study
therefore recommends that Nigeria should enhance her export promotion strategies and diversify her economy far
away from Crude oil.
This document summarizes a study that analyzes the relationship between domestic savings and economic growth in Nigeria from 1970 to 2006. It finds that while domestic savings as a percentage of GDP has generally been higher than investment, economic growth has remained low. It concludes that the main problem is not mobilizing savings, but rather the intermediation between savings and investment. It recommends that the government adopt policies to improve intermediation in the economy in order to enhance the link between savings and growth.
7.[68 76]investment, inflation and economic growth-empirical evidence from ni...Alexander Decker
This document summarizes a research paper that empirically examines the impact of investment and inflation on economic growth in Nigeria from 1981 to 2006. The key findings are:
1) Higher inflation is negatively associated with economic growth, while higher investment is positively associated with economic growth.
2) A 1% increase in inflation is associated with a 0.09% decrease in economic growth, while a 1% increase in investment is associated with a 0.3% increase in economic growth.
3) Both supply-side and demand management policies should be adopted to reduce inflation in the short and long-run in order to promote economic growth.
7.[68 76]investment, inflation and economic growth-empirical evidence from ni...Alexander Decker
1) The document examines the empirical relationship between investment, inflation, and economic growth in Nigeria from 1981 to 2006.
2) The results of the regression analysis show that inflation has a negative and significant relationship with economic growth, while investment has a positive and significant relationship.
3) Specifically, a 1% increase in inflation is associated with a 0.09% decrease in economic growth, while a 1% increase in investment is associated with a 0.3% increase in economic growth.
5.[34 42]effect of foreign direct investment and stock market development on ...Alexander Decker
This study investigates the impact of foreign direct investment (FDI) and stock market development on economic growth in Nigeria from 1980 to 2009. It finds that both FDI and lagged stock market development have a small but statistically significant positive effect on economic growth. The results support the argument that extractive FDI and stock market development enhance growth. However, both FDI and stock market development show cyclical movements over time. Lagged exchange rate appreciation is also found to positively impact growth in Nigeria. The study aims to fill a gap by examining the joint impact of FDI and stock market development on growth, which has not been the focus of prior research on Nigeria.
5.[34 42]effect of foreign direct investment and stock market development on ...Alexander Decker
This study investigates the impact of foreign direct investment (FDI) and stock market development on economic growth in Nigeria from 1980 to 2009. The study employs econometric techniques including unit root tests, cointegration, and error correction modeling. The results show that both FDI and lagged stock market development have a small but statistically significant positive effect on economic growth in Nigeria. Lagged exchange rates also have a positive impact on growth. These findings suggest that FDI, stock market development, and exchange rate appreciation can enhance economic growth in Nigeria.
11.effect of foreign direct investment and stock market development on econom...Alexander Decker
This study investigates the impact of foreign direct investment (FDI) and stock market development on economic growth in Nigeria from 1980 to 2009. The study employs econometric techniques including unit root tests, cointegration, and error correction modeling. The results show that both FDI and lagged stock market development have a small but statistically significant positive effect on economic growth in Nigeria. Lagged exchange rates also have a positive impact on growth. These findings suggest that FDI, stock market development, and exchange rate appreciation can enhance economic growth in Nigeria.
Effect of Custom and Excise Duties on Infant Mortality in Nigeriaijtsrd
This study examined the effect of custom and excise duties on infant mortality rate in Nigeria from 2004 2021. The study adopted Ex post Facto research design. Data were extracted from CBN statistical Bulletin. Descriptive statistics was used to analyze the data and the hypothesis was tested with regression analysis via E View 9.0 statistical software. The study indicates that custom and excise duties have a negative but significant effect on infant mortality rate in Nigeria. As a result, the report advised that institutional reforms be implemented at the Department of Customs in order to plug manifest leakages. Tax officials tax collection mechanisms must be free of corruption and embezzlement. If this is not done, the revenue collected may fall short of the target. Oranefo, Patricia C. "Effect of Custom and Excise Duties on Infant Mortality in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd51941.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/51941/effect-of-custom-and-excise-duties-on-infant-mortality-in-nigeria/oranefo-patricia-c
Effect of foreign direct investment and stock market development on economic ...Alexander Decker
This document analyzes the effect of foreign direct investment and stock market development on economic
growth in Nigeria from 1980 to 2009. It finds that both foreign direct investment and lagged stock market
development have a small but statistically significant positive effect on economic growth. The trends show
that foreign direct investment and stock market development experience cyclical movements. Lagged
exchange rate appreciation also enhances economic growth in Nigeria. The study aims to examine trends in
foreign investment and stock markets, and establish their relationship to economic growth, in order to guide
policymakers.
Similar to Trade Liberalization and Trade Flows in Nigeria An Aggregated Analysis (20)
‘Six Sigma Technique’ A Journey Through its Implementationijtsrd
The manufacturing industries all over the world are facing tough challenges for growth, development and sustainability in today’s competitive environment. They have to achieve apex position by adapting with the global competitive environment by delivering goods and services at low cost, prime quality and better price to increase wealth and consumer satisfaction. Cost Management ensures profit, growth and sustainability of the business with implementation of Continuous Improvement Technique like Six Sigma. This leads to optimize Business performance. The method drives for customer satisfaction, low variation, reduction in waste and cycle time resulting into a competitive advantage over other industries which did not implement it. The main objective of this paper ‘Six Sigma Technique A Journey Through Its Implementation’ is to conceptualize the effectiveness of Six Sigma Technique through the journey of its implementation. Aditi Sunilkumar Ghosalkar "‘Six Sigma Technique’: A Journey Through its Implementation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64546.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/64546/‘six-sigma-technique’-a-journey-through-its-implementation/aditi-sunilkumar-ghosalkar
Edge Computing in Space Enhancing Data Processing and Communication for Space...ijtsrd
Edge computing, a paradigm that involves processing data closer to its source, has gained significant attention for its potential to revolutionize data processing and communication in space missions. With the increasing complexity and data volume generated by modern space missions, traditional centralized computing approaches face challenges related to latency, bandwidth, and security. Edge computing in space, involving on board processing and analysis of data, offers promising solutions to these challenges. This paper explores the concept of edge computing in space, its benefits, applications, and future prospects in enhancing space missions. Manish Verma "Edge Computing in Space: Enhancing Data Processing and Communication for Space Missions" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64541.pdf Paper Url: https://www.ijtsrd.com/computer-science/artificial-intelligence/64541/edge-computing-in-space-enhancing-data-processing-and-communication-for-space-missions/manish-verma
Dynamics of Communal Politics in 21st Century India Challenges and Prospectsijtsrd
Communal politics in India has evolved through centuries, weaving a complex tapestry shaped by historical legacies, colonial influences, and contemporary socio political transformations. This research comprehensively examines the dynamics of communal politics in 21st century India, emphasizing its historical roots, socio political dynamics, economic implications, challenges, and prospects for mitigation. The historical perspective unravels the intricate interplay of religious identities and power dynamics from ancient civilizations to the impact of colonial rule, providing insights into the evolution of communalism. The socio political dynamics section delves into the contemporary manifestations, exploring the roles of identity politics, socio economic disparities, and globalization. The economic implications section highlights how communal politics intersects with economic issues, perpetuating disparities and influencing resource allocation. Challenges posed by communal politics are scrutinized, revealing multifaceted issues ranging from social fragmentation to threats against democratic values. The prospects for mitigation present a multifaceted approach, incorporating policy interventions, community engagement, and educational initiatives. The paper conducts a comparative analysis with international examples, identifying common patterns such as identity politics and economic disparities. It also examines unique challenges, emphasizing Indias diverse religious landscape, historical legacy, and secular framework. Lessons for effective strategies are drawn from international experiences, offering insights into inclusive policies, interfaith dialogue, media regulation, and global cooperation. By scrutinizing historical epochs, contemporary dynamics, economic implications, and international comparisons, this research provides a comprehensive understanding of communal politics in India. The proposed strategies for mitigation underscore the importance of a holistic approach to foster social harmony, inclusivity, and democratic values. Rose Hossain "Dynamics of Communal Politics in 21st Century India: Challenges and Prospects" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64528.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/history/64528/dynamics-of-communal-politics-in-21st-century-india-challenges-and-prospects/rose-hossain
Assess Perspective and Knowledge of Healthcare Providers Towards Elehealth in...ijtsrd
Background and Objective Telehealth has become a well known tool for the delivery of health care in Saudi Arabia, and the perspective and knowledge of healthcare providers are influential in the implementation, adoption and advancement of the method. This systematic review was conducted to examine the current literature base regarding telehealth and the related healthcare professional perspective and knowledge in the Kingdom of Saudi Arabia. Materials and Methods This systematic review was conducted by searching 7 databases including, MEDLINE, CINHAL, Web of Science, Scopus, PubMed, PsycINFO, and ProQuest Central. Studies on healthcare practitioners telehealth knowledge and perspectives published in English in Saudi Arabia from 2000 to 2023 were included. Boland directed this comprehensive review. The researchers examined each connected study using the AXIS tool, which evaluates cross sectional systematic reviews. Narrative synthesis was used to summarise and convey the data. Results Out of 1840 search results, 10 studies were included. Positive outlook and limited knowledge among providers were seen across trials. Healthcare professionals like telehealth for its ability to improve quality, access, and delivery, save time and money, and be successful. Age, gender, occupation, and work experience also affect health workers knowledge. In Saudi Arabia, healthcare professionals face inadequate expert assistance, patient privacy, internet connection concerns, lack of training courses, lack of telehealth understanding, and high costs while performing telemedicine. Conclusions Healthcare practitioners telehealth perceptions and knowledge were examined in this systematic study. Its collection of concerned experts different personal attitudes and expertise would help enhance telehealths implementation in Saudi Arabia, develop its healthcare delivery alternative, and eliminate frequent problems. Badriah Mousa I Mulayhi | Dr. Jomin George | Judy Jenkins "Assess Perspective and Knowledge of Healthcare Providers Towards Elehealth in Saudi Arabia: A Systematic Review" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64535.pdf Paper Url: https://www.ijtsrd.com/medicine/other/64535/assess-perspective-and-knowledge-of-healthcare-providers-towards-elehealth-in-saudi-arabia-a-systematic-review/badriah-mousa-i-mulayhi
The Impact of Digital Media on the Decentralization of Power and the Erosion ...ijtsrd
The impact of digital media on the distribution of power and the weakening of traditional gatekeepers has gained considerable attention in recent years. The adoption of digital technologies and the internet has resulted in declining influence and power for traditional gatekeepers such as publishing houses and news organizations. Simultaneously, digital media has facilitated the emergence of new voices and players in the media industry. Digital medias impact on power decentralization and gatekeeper erosion is visible in several ways. One significant aspect is the democratization of information, which enables anyone with an internet connection to publish and share content globally, leading to citizen journalism and bypassing traditional gatekeepers. Another aspect is the disruption of conventional media industry business models, as traditional organizations struggle to adjust to the decrease in advertising revenue and the rise of digital platforms. Alternative business models, such as subscription models and crowdfunding, have become more prevalent, leading to the emergence of new players. Overall, the impact of digital media on the distribution of power and the weakening of traditional gatekeepers has brought about significant changes in the media landscape and the way information is shared. Further research is required to fully comprehend the implications of these changes and their impact on society. Dr. Kusum Lata "The Impact of Digital Media on the Decentralization of Power and the Erosion of Traditional Gatekeepers" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64544.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/political-science/64544/the-impact-of-digital-media-on-the-decentralization-of-power-and-the-erosion-of-traditional-gatekeepers/dr-kusum-lata
Online Voices, Offline Impact Ambedkars Ideals and Socio Political Inclusion ...ijtsrd
This research investigates the nexus between online discussions on Dr. B.R. Ambedkars ideals and their impact on social inclusion among college students in Gurugram, Haryana. Surveying 240 students from 12 government colleges, findings indicate that 65 actively engage in online discussions, with 80 demonstrating moderate to high awareness of Ambedkars ideals. Statistically significant correlations reveal that higher online engagement correlates with increased awareness p 0.05 and perceived social inclusion. Variations across colleges and a notable effect of college type on perceived social inclusion highlight the influence of contextual factors. Furthermore, the intersectional analysis underscores nuanced differences based on gender, caste, and socio economic status. Dr. Kusum Lata "Online Voices, Offline Impact: Ambedkar's Ideals and Socio-Political Inclusion - A Study of Gurugram District" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64543.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/political-science/64543/online-voices-offline-impact-ambedkars-ideals-and-sociopolitical-inclusion--a-study-of-gurugram-district/dr-kusum-lata
Problems and Challenges of Agro Entreprenurship A Studyijtsrd
Noting calls for contextualizing Agro entrepreneurs problems and challenges of the agro entrepreneurs and for greater attention to the Role of entrepreneurs in agro entrepreneurship research, we conduct a systematic literature review of extent research in agriculture entrepreneurship to overcome the study objectives of complications of agro entrepreneurs through various factors, Development of agriculture products is a key factor for the overall economic growth of agro entrepreneurs Agro Entrepreneurs produces firsthand large scale employment, utilizes the labor and natural resources, This research outlines the problems of Weather and Soil Erosions, Market price fluctuation, stimulates labor cost problems, reduces concentration of Price volatility, Dependency on Intermediaries, induces Limited Bargaining Power, and Storage and Transportation Costs. This paper mainly devoted to highlight Problems and challenges faced for the sustainable of Agro Entrepreneurs in India. Vinay Prasad B "Problems and Challenges of Agro Entreprenurship - A Study" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64540.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/64540/problems-and-challenges-of-agro-entreprenurship--a-study/vinay-prasad-b
Comparative Analysis of Total Corporate Disclosure of Selected IT Companies o...ijtsrd
Disclosure is a process through which a business enterprise communicates with external parties. A corporate disclosure is communication of financial and non financial information of the activities of a business enterprise to the interested entities. Corporate disclosure is done through publishing annual reports. So corporate disclosure through annual reports plays a vital role in the life of all the companies and provides valuable information to investors. The basic objectives of corporate disclosure is to give a true and fair view of companies to the parties related either directly or indirectly like owner, government, creditors, shareholders etc. in the companies act, provisions have been made about mandatory and voluntary disclosure. The IT sector in India is rapidly growing, the trend to invest in the IT sector is rising and employment opportunities in IT sectors are also increasing. Therefore the IT sector is expected to have fair, full and adequate disclosure of all information. Unfair and incomplete disclosure may adversely affect the entire economy. A research study on disclosure practices of IT companies could play an important role in this regard. Hence, the present research study has been done to study and review comparative analysis of total corporate disclosure of selected IT companies of India and to put forward overall findings and suggestions with a view to increase disclosure score of these companies. The researcher hopes that the present research study will be helpful to all selected Companies for improving level of corporate disclosure through annual reports as well as the government, creditors, investors, all business organizations and upcoming researcher for comparative analyses of level of corporate disclosure with special reference to selected IT companies. Dr. Vaibhavi D. Thaker "Comparative Analysis of Total Corporate Disclosure of Selected IT Companies of India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64539.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/64539/comparative-analysis-of-total-corporate-disclosure-of-selected-it-companies-of-india/dr-vaibhavi-d-thaker
The Impact of Educational Background and Professional Training on Human Right...ijtsrd
This study investigated the impact of educational background and professional training on human rights awareness among secondary school teachers in the Marathwada region of Maharashtra, India. The key findings reveal that higher levels of education, particularly a master’s degree, and fields of study related to education, humanities, or social sciences are associated with greater human rights awareness among teachers. Additionally, both pre service teacher training and in service professional development programs focused on human rights education significantly enhance teacher’s knowledge, skills, and competencies in promoting human rights principles in their classrooms. Baig Ameer Bee Mirza Abdul Aziz | Dr. Syed Azaz Ali Amjad Ali "The Impact of Educational Background and Professional Training on Human Rights Awareness among Secondary School Teachers" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64529.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/64529/the-impact-of-educational-background-and-professional-training-on-human-rights-awareness-among-secondary-school-teachers/baig-ameer-bee-mirza-abdul-aziz
A Study on the Effective Teaching Learning Process in English Curriculum at t...ijtsrd
“One Language sets you in a corridor for life. Two languages open every door along the way” Frank Smith English as a foreign language or as a second language has been ruling in India since the period of Lord Macaulay. But the question is how much we teach or learn English properly in our culture. Is there any scope to use English as a language rather than a subject How much we learn or teach English without any interference of mother language specially in the classroom teaching learning scenario in West Bengal By considering all these issues the researcher has attempted in this article to focus on the effective teaching learning process comparing to other traditional strategies in the field of English curriculum at the secondary level to investigate whether they fulfill the present teaching learning requirements or not by examining the validity of the present curriculum of English. The purpose of this study is to focus on the effectiveness of the systematic, scientific, sequential and logical transaction of the course between the teachers and the learners in the perspective of the 5Es programme that is engage, explore, explain, extend and evaluate. Sanchali Mondal | Santinath Sarkar "A Study on the Effective Teaching Learning Process in English Curriculum at the Secondary Level of West Bengal" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd62412.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/62412/a-study-on-the-effective-teaching-learning-process-in-english-curriculum-at-the-secondary-level-of-west-bengal/sanchali-mondal
The Role of Mentoring and Its Influence on the Effectiveness of the Teaching ...ijtsrd
This paper reports on a study which was conducted to investigate the role of mentoring and its influence on the effectiveness of the teaching of Physics in secondary schools in the South West Region of Cameroon. The study adopted the convergent parallel mixed methods design, focusing on respondents in secondary schools in the South West Region of Cameroon. Both quantitative and qualitative data were collected, analysed separately, and the results were compared to see if the findings confirm or disconfirm each other. The quantitative analysis found that majority of the respondents 72 of Physics teachers affirmed that they had more experienced colleagues as mentors to help build their confidence, improve their teaching, and help them improve their effectiveness and efficiency in guiding learners’ achievements. Only 28 of the respondents disagreed with these statements. With majority respondents 72 agreeing with the statements, it implies that in most secondary schools, experienced Physics teachers act as mentors to build teachers’ confidence in teaching and improving students’ learning. The interview qualitative data analysis summarized how secondary school Principals use meetings with mentors and mentees to promote mentorship in the school milieu. This has helped strengthen teachers’ classroom practices in secondary schools in the South West Region of Cameroon. With the results confirming each other, the study recommends that mentoring should focus on helping teachers employ social interactions and instructional practices feedback and clarity in teaching that have direct measurable impact on students’ learning achievements. Andrew Ngeim Sumba | Frederick Ebot Ashu | Peter Agborbechem Tambi "The Role of Mentoring and Its Influence on the Effectiveness of the Teaching of Physics in Secondary Schools in the South West Region of Cameroon" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64524.pdf Paper Url: https://www.ijtsrd.com/management/management-development/64524/the-role-of-mentoring-and-its-influence-on-the-effectiveness-of-the-teaching-of-physics-in-secondary-schools-in-the-south-west-region-of-cameroon/andrew-ngeim-sumba
Design Simulation and Hardware Construction of an Arduino Microcontroller Bas...ijtsrd
This study primarily focuses on the design of a high side buck converter using an Arduino microcontroller. The converter is specifically intended for use in DC DC applications, particularly in standalone solar PV systems where the PV output voltage exceeds the load or battery voltage. To evaluate the performance of the converter, simulation experiments are conducted using Proteus Software. These simulations provide insights into the input and output voltages, currents, powers, and efficiency under different state of charge SoC conditions of a 12V,70Ah rechargeable lead acid battery. Additionally, the hardware design of the converter is implemented, and practical data is collected through operation, monitoring, and recording. By comparing the simulation results with the practical results, the efficiency and performance of the designed converter are assessed. The findings indicate that while the buck converter is suitable for practical use in standalone PV systems, its efficiency is compromised due to a lower output current. Chan Myae Aung | Dr. Ei Mon "Design Simulation and Hardware Construction of an Arduino-Microcontroller Based DC-DC High-Side Buck Converter for Standalone PV System" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64518.pdf Paper Url: https://www.ijtsrd.com/engineering/mechanical-engineering/64518/design-simulation-and-hardware-construction-of-an-arduinomicrocontroller-based-dcdc-highside-buck-converter-for-standalone-pv-system/chan-myae-aung
Sustainable Energy by Paul A. Adekunte | Matthew N. O. Sadiku | Janet O. Sadikuijtsrd
Energy becomes sustainable if it meets the needs of the present without compromising the ability of future generations to meet their own needs. Some of the definitions of sustainable energy include the considerations of environmental aspects such as greenhouse gas emissions, social, and economic aspects such as energy poverty. Generally far more sustainable than fossil fuel are renewable energy sources such as wind, hydroelectric power, solar, and geothermal energy sources. Worthy of note is that some renewable energy projects, like the clearing of forests to produce biofuels, can cause severe environmental damage. The sustainability of nuclear power which is a low carbon source is highly debated because of concerns about radioactive waste, nuclear proliferation, and accidents. The switching from coal to natural gas has environmental benefits, including a lower climate impact, but could lead to delay in switching to more sustainable options. “Carbon capture and storage” can be built into power plants to remove the carbon dioxide CO2 emissions, but this technology is expensive and has rarely been implemented. Leading non renewable energy sources around the world is fossil fuels, coal, petroleum, and natural gas. Nuclear energy is usually considered another non renewable energy source, although nuclear energy itself is a renewable energy source, but the material used in nuclear power plants is not. The paper addresses the issue of sustainable energy, its attendant benefits to the future generation, and humanity in general. Paul A. Adekunte | Matthew N. O. Sadiku | Janet O. Sadiku "Sustainable Energy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64534.pdf Paper Url: https://www.ijtsrd.com/engineering/electrical-engineering/64534/sustainable-energy/paul-a-adekunte
Concepts for Sudan Survey Act Implementations Executive Regulations and Stand...ijtsrd
This paper aims to outline the executive regulations, survey standards, and specifications required for the implementation of the Sudan Survey Act, and for regulating and organizing all surveying work activities in Sudan. The act has been discussed for more than 5 years. The Land Survey Act was initiated by the Sudan Survey Authority and all official legislations were headed by the Sudan Ministry of Justice till it was issued in 2022. The paper presents conceptual guidelines to be used for the Survey Act implementation and to regulate the survey work practice, standardizing the field surveys, processing, quality control, procedures, and the processes related to survey work carried out by the stakeholders and relevant authorities in Sudan. The conceptual guidelines are meant to improve the quality and harmonization of geospatial data and to aid decision making processes as well as geospatial information systems. The established comprehensive executive regulations will govern and regulate the implementation of the Sudan Survey Geomatics Act in all surveying and mapping practices undertaken by the Sudan Survey Authority SSA and state local survey departments for public or private sector organizations. The targeted standards and specifications include the reference frame, projection, coordinate systems, and the guidelines and specifications that must be followed in the field of survey work, processes, and mapping products. In the last few decades, there has been a growing awareness of the importance of geomatics activities and measurements on the Earths surface in space and time, together with observing and mapping the changes. In such cases, data must be captured promptly, standardized, and obtained with more accuracy and specified in much detail. The paper will also highlight the current situation in Sudan, the degree to which survey standards are used, the problems encountered, and the errors that arise from not using the standards and survey specifications. Kamal A. A. Sami "Concepts for Sudan Survey Act Implementations - Executive Regulations and Standards" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63484.pdf Paper Url: https://www.ijtsrd.com/engineering/civil-engineering/63484/concepts-for-sudan-survey-act-implementations--executive-regulations-and-standards/kamal-a-a-sami
Towards the Implementation of the Sudan Interpolated Geoid Model Khartoum Sta...ijtsrd
The discussions between ellipsoid and geoid have invoked many researchers during the recent decades, especially during the GNSS technology era, which had witnessed a great deal of development but still geoid undulation requires more investigations. To figure out a solution for Sudans local geoid, this research has tried to intake the possibility of determining the geoid model by following two approaches, gravimetric and geometrical geoid model determination, by making use of GNSS leveling benchmarks at Khartoum state. The Benchmarks are well distributed in the study area, in which, the horizontal coordinates and the height above the ellipsoid have been observed by GNSS while orthometric heights were carried out using precise leveling. The Global Geopotential Model GGM represented in EGM2008 has been exploited to figure out the geoid undulation at the benchmarks in the study area. This is followed by a fitting process, that has been done to suit the geoid undulation data which has been computed using GNSS leveling data and geoid undulation inspired by the EGM2008. Two geoid surfaces were created after the fitting process to ensure that they are identical and both of them could be counted for getting the same geoid undulation with an acceptable accuracy. In this respect, statistical operation played an important role in ensuring the consistency and integrity of the model by applying cross validation techniques splitting the data into training and testing datasets for building the geoid model and testing its eligibility. The geometrical solution for geoid undulation computation has been utilized by applying straightforward equations that facilitate the calculation of the geoid undulation directly through applying statistical techniques for the GNSS leveling data of the study area to get the common equation parameters values that could be utilized to calculate geoid undulation of any position in the study area within the claimed accuracy. Both systems were checked and proved eligible to be used within the study area with acceptable accuracy which may contribute to solving the geoid undulation problem in the Khartoum area, and be further generalized to determine the geoid model over the entire country, and this could be considered in the future, for regional and continental geoid model. Ahmed M. A. Mohammed. | Kamal A. A. Sami "Towards the Implementation of the Sudan Interpolated Geoid Model (Khartoum State Case Study)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63483.pdf Paper Url: https://www.ijtsrd.com/engineering/civil-engineering/63483/towards-the-implementation-of-the-sudan-interpolated-geoid-model-khartoum-state-case-study/ahmed-m-a-mohammed
Activating Geospatial Information for Sudans Sustainable Investment Mapijtsrd
Sudan is witnessing an acceleration in the processes of development and transformation in the performance of government institutions to raise the productivity and investment efficiency of the government sector. The development plans and investment opportunities have focused on achieving national goals in various sectors. This paper aims to illuminate the path to the future and provide geospatial data and information to develop the investment climate and environment for all sized businesses, and to bridge the development gap between the Sudan states. The Sudan Survey Authority SSA is the main advisor to the Sudan Government in conducting surveying, mappings, designing, and developing systems related to geospatial data and information. In recent years, SSA made a strategic partnership with the Ministry of Investment to activate Geospatial Information for Sudans Sustainable Investment and in particular, for the preparation and implementation of the Sudan investment map, based on the directives and objectives of the Ministry of Investment MI in Sudan. This paper comes within the framework of activating the efforts of the Ministry of Investment to develop technical investment services by applying techniques adopted by the Ministry and its strategic partners for advancing investment processes in the country. Kamal A. A. Sami "Activating Geospatial Information for Sudan's Sustainable Investment Map" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63482.pdf Paper Url: https://www.ijtsrd.com/engineering/information-technology/63482/activating-geospatial-information-for-sudans-sustainable-investment-map/kamal-a-a-sami
Educational Unity Embracing Diversity for a Stronger Societyijtsrd
In a rapidly changing global landscape, the importance of education as a unifying force cannot be overstated. This paper explores the crucial role of educational unity in fostering a stronger and more inclusive society through the embrace of diversity. By examining the benefits of diverse learning environments, the paper aims to highlight the positive impact on societal strength. The discussion encompasses various dimensions, from curriculum design to classroom dynamics, and emphasizes the need for educational institutions to become catalysts for unity in diversity. It highlights the need for a paradigm shift in educational policies, curricula, and pedagogical approaches to ensure that they are reflective of the diverse fabric of society. This paper also addresses the challenges associated with implementing inclusive educational practices and offers practical strategies for overcoming barriers. It advocates for collaborative efforts between educational institutions, policymakers, and communities to create a supportive ecosystem that promotes diversity and unity. Mr. Amit Adhikari | Madhumita Teli | Gopal Adhikari "Educational Unity: Embracing Diversity for a Stronger Society" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64525.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/64525/educational-unity-embracing-diversity-for-a-stronger-society/mr-amit-adhikari
Integration of Indian Indigenous Knowledge System in Management Prospects and...ijtsrd
The diversity of indigenous knowledge systems in India is vast and can vary significantly between different communities and regions. Preserving and respecting these knowledge systems is crucial for maintaining cultural heritage, promoting sustainable practices, and fostering cross cultural understanding. In this paper, an overview of the prospects and challenges associated with incorporating Indian indigenous knowledge into management is explored. It is found that IIKS helps in management in many areas like sustainable development, tourism, food security, natural resource management, cultural preservation and innovation, etc. However, IIKS integration with management faces some challenges in the form of a lack of documentation, cultural sensitivity, language barriers legal framework, etc. Savita Lathwal "Integration of Indian Indigenous Knowledge System in Management: Prospects and Challenges" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63500.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/63500/integration-of-indian-indigenous-knowledge-system-in-management-prospects-and-challenges/savita-lathwal
DeepMask Transforming Face Mask Identification for Better Pandemic Control in...ijtsrd
The COVID 19 pandemic has highlighted the crucial need of preventive measures, with widespread use of face masks being a key method for slowing the viruss spread. This research investigates face mask identification using deep learning as a technological solution to be reducing the risk of coronavirus transmission. The proposed method uses state of the art convolutional neural networks CNNs and transfer learning to automatically recognize persons who are not wearing masks in a variety of circumstances. We discuss how this strategy improves public health and safety by providing an efficient manner of enforcing mask wearing standards. The report also discusses the obstacles, ethical concerns, and prospective applications of face mask detection systems in the ongoing fight against the pandemic. Dilip Kumar Sharma | Aaditya Yadav "DeepMask: Transforming Face Mask Identification for Better Pandemic Control in the COVID-19 Era" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64522.pdf Paper Url: https://www.ijtsrd.com/engineering/electronics-and-communication-engineering/64522/deepmask-transforming-face-mask-identification-for-better-pandemic-control-in-the-covid19-era/dilip-kumar-sharma
Streamlining Data Collection eCRF Design and Machine Learningijtsrd
Efficient and accurate data collection is paramount in clinical trials, and the design of Electronic Case Report Forms eCRFs plays a pivotal role in streamlining this process. This paper explores the integration of machine learning techniques in the design and implementation of eCRFs to enhance data collection efficiency. We delve into the synergies between eCRF design principles and machine learning algorithms, aiming to optimize data quality, reduce errors, and expedite the overall data collection process. The application of machine learning in eCRF design brings forth innovative approaches to data validation, anomaly detection, and real time adaptability. This paper discusses the benefits, challenges, and future prospects of leveraging machine learning in eCRF design for streamlined and advanced data collection in clinical trials. Dhanalakshmi D | Vijaya Lakshmi Kannareddy "Streamlining Data Collection: eCRF Design and Machine Learning" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63515.pdf Paper Url: https://www.ijtsrd.com/biological-science/biotechnology/63515/streamlining-data-collection-ecrf-design-and-machine-learning/dhanalakshmi-d
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxEduSkills OECD
Iván Bornacelly, Policy Analyst at the OECD Centre for Skills, OECD, presents at the webinar 'Tackling job market gaps with a skills-first approach' on 12 June 2024
This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
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Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.pptHenry Hollis
The History of NZ 1870-1900.
Making of a Nation.
From the NZ Wars to Liberals,
Richard Seddon, George Grey,
Social Laboratory, New Zealand,
Confiscations, Kotahitanga, Kingitanga, Parliament, Suffrage, Repudiation, Economic Change, Agriculture, Gold Mining, Timber, Flax, Sheep, Dairying,
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Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
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Trade Liberalization and Trade Flows in Nigeria An Aggregated Analysis
1. International Journal of Trend in Scientific Research and Development (IJTSRD)
International Open Access Journal | www.ijtsrd.com
ISSN No: 2456 - 6470 | Volume - 2 | Issue – 6 | Sep – Oct 2018
@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 6 | Sep-Oct 2018 Page: 1507
Trade Liberalization and Trade Flows in Nigeria:
An Aggregated Analysis
Anionwu, Carol Ph.D
Department of Business Administration, Faculty of Management Sciences,
Cross River University of Technology, Nigeria
ABSTRACT
This study examines the impact of trade liberalization
and trade flows in Nigeria using an econometric
regression model of the Ordinary Least Square (OLS).
From the result of the OLS, it is observed that trade
flows and export subsidies have a positive
relationship with economic growth. This means that
when trade flows and export subsidies are increasing,
it will bring about more growth in Nigerian economy.
On the other hand, import tariffs, import quotas and
export taxes have a negative impact on economic
growth in Nigeria. This means that if import tariffs,
import quotas and export taxes are falling, there will
be increase in economic growth. From the empirical
work reviewed, some authors argued that trade
liberalization and trade flows is positively related to
economic growth; while some authors argued that it is
negatively related. The findings of the study also
show that trade flows, import tariffs, import quotas
and export taxes are statistically significant in
explaining the Nigerian economy while export
subsidy is statistically insignificant. The study
therefore recommends that government should
encourage import liberalization through reduction in
tariff rates, gradual removal of Non-Tariff Barriers
(NTB), outright banning of certain goods which will
ensure that our imports, following trade liberalization,
is directed mainly on intermediate and capital goods.
Imports of consumables would be brought to nil and
therefore there would be a corresponding increase in
the production of competitive import. Finally, the
government should vigorously seek to improve the
international stand of the economy with other
economies of the world so as to enlarge the market for
Nigerian exports. It should also re-orient its policy
towards the external sector and ensure that the sector
contribute optimally to output growth.
INTRODUCTION
Trade liberalization and flows within and outside an
economy has been a subject of discussion and
research among scholars and researchers alike for
over seven decades. The idea that trade liberalization
or trade openness is one of the most important
determinants of economic growth is becoming
increasingly popular among governments of less
developed countries (LDCS) and Nigeria in particular.
Conventional wisdom suggests that openness
promotes economic growth. However, while various
theoretical models predict that openness to
international trade accelerates economic growth, the
empirical evidence has been mixed or imprecise
(Eleanya, 2013). According to Echekoba, Okonkwo
and Adigwe (2015), trade liberalization started in
1947, after the 2nd World war, with the inception of
the General Agreement on Tariffs and Trade (GATT).
The GATT was negotiated in 1947 by 23 countries of
which 12 are industrialized countries and 11,
developing countries. The main focal point of the
GATT was to lower trade barriers. GATT was later
replaced by the WTO (World Trade Organization) in
1994. Basically, the main purpose of trade
liberalization is to allow countries to export those
goods and services that they can produce efficiently,
and import the goods and services that they produce
inefficiently. Sequel to the emergence of trade
liberalization and trade flows among various
economies, argued that trade liberalization aids
growth, which in turn aids poverty alleviation, but
adds that trade policy, should not none the less, be
manipulated too closely with an eye to direct poverty
consequences. It should rather be set on a sound basis
over-all (Ijeoma, 2013; Winters, 2002).
Despite the efforts of successive governments in
Nigeria in liberalizing trade and its flows in order to
2. International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 6 | Sep-Oct 2018 Page: 1508
enhance the economy, there is a persistent rise in the
poverty level, business failures and the economy
plunging into recession in recent time. According to
Umoru (2013), In Nigeria, despite the implementation
of trade liberalization measures and despite the
persistent signs of economic recovery as seen from
reduction in external debt and debt service payment,
some macroeconomic indicators show poor
performances of the overall economy. For instance,
the economy has been characterized by low degree of
savings accompanied by liquidity trap, capacity
underutilization and low rate of capital formation.
This poor situation reflects more the rate of
unemployment in the country. The conventional
arguments in support of and against international
trade are no doubt convincing, but the empirical
evidence is yet to be typical especially in Nigeria.
Trade liberalization is an essential component of
international trade and finance. It entails the removal
of the various barriers to trade that countries around
the world have erected and has been recognized by
many studies as an important factor accounting for the
economic growth and development of many Nations
(Echekoba, Okonkwo, & Adigwe, 2015). Trade
liberalization has been a burning issue in Nigeria –
ascertaining whether Nigeria’s involvement in
international trade boosts or hinders economic growth
has been a persisting problem thus, warranting an
empirical investigation into the study area to ascertain
the impact of trade liberalization and trade flows on
growth in Nigerian
Objectives of the study
The broad objective of the study is to examine the
impact of trade liberalization and trade flows on
Nigerian economic growth from 1980 to 2017.
Specifically, the study seeks to examine the impact of
trade openness, import tariffs, import quotas, export
taxes and export subsidies on economic growth in
Nigeria
Hypotheses
Ho1: Trade openness, import tariffs, import quotas,
export taxes and export subsidies have no significant
impact on economic growth in Nigeria.
Empirical literature
The study has examined some related empirical
literature on trade liberalization and trade flows. For
example: Ejike, Anah & Onwuchekwa (2018)
examined the effect of trade liberalization on
economic growth in Nigeria, using the Gross domestic
product (GDP) as proxy for economic growth. The
study made use of set of data that spanned (1980 –
2015). Ordinary Least Squares (OLS) was used in
estimating the effect of trade liberalization on
economic growth in Nigeria with a view to
ascertaining whether long-run relationship exists
between the two and also used in verifying for
structural change that may have occurred within the
implementation period of a free trade regime that
started in 1986. Data for the study were sourced from
World Development Indicators (WDI) of the World
Bank and Statistical Bulletin of the Central Bank of
Nigeria (CBN) various issues. Results indicate that
liberalization has positive and significant effect on
economic growth in Nigeria, with an evidence of a
long-run relationship. Similarly, strong evidence was
found to support structural change that took place in
1986 when free trade policy was adopted. The results
also presented a violation of the a priori in the case of
export and import which showed negative and
positive signs respectively. Ojeyinka and Adegboye
(2017) examined the impact of trade liberalization on
performance in the Nigerian economy, with special
reference to agricultural and manufacturing sectors.
Simultaneous models were developed to capture the
joint effects of trade liberalization on the two sectors.
The Generalized Method of Moment technique was
used to estimate the role of trade liberalization on the
performance of the selected sectors. The study shows
a significant positive impact of trade liberalization on
the output of agricultural sector while a negative but
significant relationship exists between measures of
trade liberalization and manufacturing output in
Nigeria. The study also reveals that exchange rate
exerts a positive but insignificant impact on
agricultural output while the effect of inflation on
agricultural output is positive and significant within
the study period. Unlike the agricultural output, both
exchange rate and inflation have negative impact on
manufacturing sector’s output. Moreover, finding
from the study also confirmed the possibility of
substantial economic linkage between the two sectors,
as their magnitudes were positive and significant
which suggests some significant level of
interdependence between them in the Nigerian
economy. Afolabi, Danladi and Azeez (2017)
examined the impact of international trade on
economic growth in Nigeria, with the objective of
identifying the major factors influencing economic
growth through international trade using time series
secondary data obtained from Central Bank of
Nigeria, National Bureau of Statistics and
3. International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 6 | Sep-Oct 2018 Page: 1509
International Financial Statistics for a period between
1981 and 2014. Augmented Dickey-Fuller (ADF) test
together with Phillip- Perron (PP) test of Unit Root
Tests were employed to ascertain the stationarity
properties of the variables. The Ordinary Least Square
(OLS) technique was used to test for the significant
relationship between the level of economic growth
proxied by GDP as dependent variable and exchange
rate, government expenditure, interest rate, foreign
direct investment, import and export as independent
variables. The result revealed that government
expenditures, interest rate, import and export are all
positively significant while exchange rate and foreign
direct investment are negatively insignificant to the
growth process of the Nigerian Economy. Nwinee and
Olulu-Briggs (2016) examined trade openness,
financial development, and the Nigerian economy.
The aim was to investigate the relationship between
changes in different variables of trade openness and
financial development; and its impact on the growth
rate of the Nigerian economy using annual time series
data for the period 1981-2013from the Central Bank
of Nigeria to estimate both long and short-run
relationship as well as causal effects. The Unit root
test shows that the variables were stationary at level
and after being first differenced; at the 5%
significance level. The Johansen Co integration test
gave evidence of four co-integrating equations which
explains that a long-run equilibrium relationship exist
among the variables. The Vector Error Correction
Model was used to analyze short-run adjustment
dynamics and showed 96.7% speed of adjustment of
prior deviations from equilibrium. The Granger
Causality test demonstrated both bi-directional
causality between real effective exchange rate and
total trade; and uni-directional causality from gross
domestic product to total trade, gross domestic
product to credit to the private sector, total trade to
foreign direct investment, total trade to credit to the
private sector and real effective exchange rate to
foreign direct investment. Furthermore, the Impulse
Response and Variance Decomposition test indicate
both positive and negative shocks which are
consistent with our findings from the vector error
correction model and Granger causality analysis.
Overall, all the results obtained are in line with apriori
expectations. Adeleye, Adeteye and Adewuyi (2015)
examined the impact of international trade on
economic growth in Nigeria (1988-2012) using net
export (i.e total export less total import) and Balance
of Payment as proxies for international trade while
Gross Domestic Product represent economic growth.
The study employed regression analysis as the method
of analysis using co-integration and error correction
modeling techniques to find the long-run relationship
between economic performance and international
trade. Only Total Export (TEX) remains positive and
significant while others remain insignificant, which
means, Nigeria is running a monocultural economy
where only oil act as the sole support of the economy
without tangible support from other sectors such as
industrial/manufacturing and agriculture. Echekoba,
Okonkwo and Adigwe (2015) investigated trade
liberalization and economic growth: The nigerian
experience (1971-2012) using Ordinary Least Squares
(OLS) regression technique. The results provided
clear indication that imports and exports significantly
and positively affect economic growth in Nigeria.
Olaifa, Subair and Biala (2015) adopts the ordinary
least squares in estimating the influence of trade
liberalization on economic growth in Nigeria
between1970 and 2012 with a view to examining
whether a long term relationship exists between the
two and also to check for structural change that may
have occurred with the implementation of a free trade
regime in 1986.Trade liberalization was conceived as
openness and proxied as the ratio of total trade to
GDP. Time series data sourced from the World
Development indicator (WDI) of the World Bank and
the Central Bank of Nigeria (CBN) statistical bulletin
and annual reports were analysed. Result shows that
liberalization supports economic growth in Nigeria
with an evidence of a long run relationship. Strong
evidence was found to support a structural change
taking place in 1986 with the adoption of free trade
policy. However export was reported to be negatively
related to growth. Ude and Agodi (2015) empirically
examined whether trade openness makes sense, using
Nigeria trade policy as yardstick. Considering the
framework of the traditional trade theories which
postulate that trade has positive impact on economic
growth, the study employed Autoregressive
Conditional Heteroscedasticity (ARCH), Generalized
Autoregressive Conditional Heteroscedasticity
(GARCH) and Pairwise-Granger causality
methodology using secondary data from 1984 to
2013. Results show that trade openness has a
significant impact on economic growth. This implies
that trade openness make sense in Nigeria given that
most of the period under investigation ranged from
when Nigeria adopted unrestricted trade policies. The
control variables (interest rate and exchange rate)
have significant positive effect on economic growth in
Nigeria. The pairwise Granger causality test shows
4. International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 6 | Sep-Oct 2018 Page: 1510
that there is a unidirectional causality between
economic growth and trade openness at lag one only.
Azeez, Dada and Aluko (2014) examined the effect of
international trade on the economic growth of Nigeria
in the 21st century using an annual time-series data
from 2000-2012 and the Ordinary Least Square (OLS)
estimation technique. Variables of the model specified
economic growth as measured by gross domestic
product which is dependent on international trade
proxy by imports, exports, and trade openness. It was
evidenced that international trade has a significant
positive impact on economic growth. Imports,
Exports, and Trade Openness have significant effect
on the economy. Akinyemi, Ebiefie, Tinuola, Adekojo
& Ibiyemi (2014) investigated the relationship
between trade liberalization and employment
generation in Nigeria using secondary data on the
quoted variables for the period 2003-2007. Panel
regression model (Pooled Least Squares) was
employed to examine the nexus between trade
liberalization and employment generation. The study
found that employment generation as result of trade
liberalization the key determinant is tariff structure as
a percentage increase will generate 73.4% of
employment while other variables (wages, openness
and FDI) effect on employment is not much. Also, the
cumulative significant of the study shows that trade
tariffs, wage rate, openness, and foreign direct
investment have simultaneous significant effect on
employment rate in the Nigeria’s manufacturing,
transport, agriculture and mining and quarrying
sectors. Monisola (2014) examined public policy and
trade liberalisation in Nigerian economic
development. The study considered the components
of the trade policy such as trade openness,
privatization, investment flow and import tariffs with
a view to assess the impacts of some of those policy
prescriptions on Nigerian economic development.
Secondary data was utilized to descriptively analyze
the impacts of trade liberalization policy on Nigeria
economic development. The result showed that trade
liberalization policy has not had a positive impact on
Nigeria economic development. Eleanya (2013)
investigated openness and economic growth in
Nigeria using regression model of the ordinary Least
Squares (OLS) technique and data from 1970 – 2008
from CBN statistical bulletin, 2008 were employed.
GDP (Economic Growth) is the dependent variable,
whereas degree of openness, investment, government
expenditure and lagged GDP are the independent
variables. The independent variables have direct
impact on the economic growth respectively. The
results show that, a unit increase in the degree of
openness holding other variables constant, leads to
about 5 percent increase in GDP; 1 percent increase in
investment holding other variables constant, leads to
about 18 percent increase in GDP; 1 percent increase
in government expenditure given other variables,
leads to about 9.7 percent increase in GDP and 1
percent increase in previous GDP given other
variables, leads to about 100 percent increase in the
current GDP. It also shows adjusted R2 of 0.99. The
unit root tests show that all the variables, but lagged
GDP are stationary only after first difference, and the
cointegration test shows that there exists long run
equilibrium between economic growth, trade
openness, investment, and government expenditure in
Nigeria. The study reveals that openness impact
significantly on economic growth in Nigeria. Umoru
(2013) examined employment and international trade
flows in Nigeria within the framework of the vector
error correction model. The study found that the
volume of international trade has no significant
positive impact on employment generation in Nigeria.
Indeed, the recent empirical evidence is that of a
significant negative employment effect of total trade
volume in Nigeria. Besides, the employment effect of
trade liberalization is insignificant and negative in this
study. Soi (2013) assessed the impact of international
trade on economic growth in Kenya with the years
under consideration being 1960 to 2010. The study
specifically examined the effect of exchange rate,
inflation and final government consumption on
Kenyan economic growth using World Bank data for
these variables. The multiple linear regression model
and Barro growth model were used to estimate the
existing the relationship between variables then
ordinary least square method was applied. From the
findings, Exchange rate has no effect on GDP growth
rate, while inflations had negative and significant
effect on GDP growth rate. Final government
consumption had positive effect on GDP growth rate
in Kenya. Umoru (2013) investigated the relation
between trade liberalization and industrial growth in
Nigeria using the human capital model of endogenous
growth with modifications for trade liberalization
within the Nigerian context which was estimated
using an error correction model [ECM]. The empirical
findings in this study have it that there is a positive
and significant correlation between trade
liberalization and industrial growth in Nigeria,
structural deregulation had positive impact industrial
growth in Nigeria, Nigerian industries are labour
intensive, industrial production responded negatively
5. International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 6 | Sep-Oct 2018 Page: 1511
and insignificantly to capital formation in Nigeria,
industrial growth is cumulative and self-sustaining in
Nigeria. The result however does not provide
evidence of significance of structural deregulation
over the period of short-run analysis. Nageri, Ajayi,
Olodo and Abina (2013) carried out an empirical
study of growth through trade in Nigeria using
multiple econometric regression models of the
Ordinary Least Square (OLS). The finding shows that
trade contribute positively to economic growth but
Nigeria’s trade policies, and implementation is still
not growth friendly. Umoru and Oseme (2013)
investigated trade flows and exchange rate shocks in
Nigeria by adopting the vector error correction
methodology. The results of the study indicated a
cyclical feedback between the trade balance and the
real exchange rate depreciation of the Naira.
However, the analysis finds no empirical evidence in
favour of the short-run deterioration of the trade
balance as implied by the J-curve hypothesis. Rather,
what is empirically supported is the cyclical trade
effect of exchange rate shocks. As it were, a real
exchange rate shock will initially improve then
worsen and then improve the country’s aggregate
trade balance. The instant improvement in the trade
balance which is correlated with real depreciation
provides no support for the J-curve hypothesis in the
Nigerian trade balance. Hence, the short-run
predictions of the J-curve are not observable in
Nigeria. Ademola, Olusuyi, Ibiyemi and Babatunde
(2013) empirically examined the impact of trade
openness on economic growth in Nigeria. The study
employed ordinary least square regression to find out
the relationship between trade openness and economic
growth. The result suggest that the positive sign of
the coefficient of non oil export, trade openness
underscore their increasing relationship with gross
domestic product, increasing in their value link to
increase in GDP all other things being equal. The
negative sign of the exchange rate and balance of
payment show that a depreciating exchange rate and
unfavourable bank payment lead to a decline in gross
domestic product. The joint significance of all
coefficient estimate was evaluated using F test and the
outcome of the evaluation indicate that the coefficient
is statistically insignificant which means that GDP is a
poor estimate. Ijeoma (2013) examined the impact
and policy strategies of trade liberalization in Nigeria.
The objective of this study was to determine the level
of implementation of trade instruments and strategies,
and to ascertain if the policy direction for foreign
trade has been vigorously pursued over the years in
Nigeria. On a cross section of importers and
exporters, top banks management staff and members
of the legislative house in Nigeria. The statistical tool
used in analyzing the data was the Chi-square test
statistic. From the result of the analysis, it was found
that majority of the respondents believed that the
implementation of trade instrument and strategies has
been very low since the option “very low” recorded
the highest column total. In the final analysis, studies
on trade liberalization and trade flows in Nigeria are
rife. Scholars have investigated the subject from
various standpoints and with varying literary
perspectives. However, the empirical studies reviewed
show that most scholars agreed that trade
liberalization impact positively on economic growth
of any country while some did not agree with the
findings that trade liberalization impact positively
rather they came up that it impact negatively on the
economy. In addition, most of the studies reviewed
failed to address the impact of trade liberalization
policies and trade flows on economic growth and
these trade liberalization policies may include any
policy that directly affects the flow of goods and
services between countries, including import tariffs,
import quotas, voluntary export restraints, export
taxes, export subsidies, and so on. Available literature
reviewed in this study did not attempt or adopt the
trade policies like import tariffs, import quotas,
voluntary export restraints, export taxes and export
subsidies in its analysis. This study fills the literature
and knowledge gap by modeling the import tariffs,
import quotas, voluntary export restraints, export
taxes, export subsidies among other variables.
Theoretical Framework
There are a number of theories on trade flows and
how they engender economic prosperity of nations.
Some of the theories include: Mercantilist Trade
Theory, Absolute Advantage Trade Theory,
Comparative Advantage Theory, Hecksher – Ohlin
Trade Theory: Harrod-Domar Growth Model,
Traditional Neoclassical Growth Theory, Endogenous
Growth Theory, Classical Theory of Trade, The
Theory of Factor Proportion, The Product Life Cycle
Theory, systems theory, surplus theory, new trade
theories, surplus labour theory among others (Nageri
et al, 2013; Afolabi, Danladi & Azeez, 2017; Adeleye,
Adeteye & Adewuyi, 2015). However, this study will
be anchored on the Systems Theory because of its
suitability in explaining the subject of trade
liberalization and trade flows in this study. According
to Monisola (2014), the history of systems theories
6. International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 6 | Sep-Oct 2018 Page: 1512
includes contributions from such seminar thinkers as
Alfred North Whitehead, Ludwig von Bertalanffy,
Anatol Rapoport, Kenneth Boulding, Paul A. Weiss,
Ralph Gerard, Kurt Lewin, Roy R. Grinker, William
Gray, Nicolas Rizzo, Karl Menninger, Silvano
Arieti(Laszlo and Kriooner, 2013). The theory
assumes that there is an interaction and
interrelationship between and among countries for
their continued survival. The relationship comes in
form of all the human interaction networks, small and
large, from the household to the global trade, cultural,
economic and political institutions and connection
among them (Adeleye, Adeteye & Adewuyi, 2015;
Dun, 2012)
In applying the systems theory to this study, available
literature asserts that trade liberalization is a powerful
means by which the rest of the world’s economics are
been firmly integrated into global capitalist economy
(Adeleye, Adeteye & Adewuyi, 2015; Ogunleye,
2003). According to Adeleye, Adeteye & Adewuyi,
2015), the system theory rest on belief that there is
international division of labour, which divides the
world into core countries, semi-periphery countries
and the periphery countries. Core countries focus on
higher skill, capital intensive production, and the rest
of the world focuses on low-skill, labour-intensive
production and extraction of raw materials. This
constantly reinforces the dominance of the core
countries. Nonetheless, the system is dynamic and
individual states can gain or lose the core status over
time (Wikipedia encyclopedia, 2012). In reality, many
international relations are competitive rather than
cooperative and antagonistic. In this terminology, the
core is the developed industrialized part of the world,
and the periphery is the “underdeveloped”. The
periphery is typically raw materials-exporting
oriented and of cause poor part of the world. The
market interaction is the means by which the core
exploits the periphery (Wikipedia encyclopedia, 2012;
Adeleye, Adeteye & Adewuyi, 2015). This
demonstrates the challenges faced by the emerging
economies typically Nigeriain terms of trade
liberalization.
METHODOLOGY
Based on a modified endogenous growth function,
this study employs a multiple regression technique to
estimate the impact of trade liberalization on Nigerian
economic growth.
The model for this study will be based on the insight
gain from empirical literature reviewed in this study.
This modification was the introduction of some of
trade policies in the model. These trade policies
include import tariffs, import quotas, export taxes and
export subsidies. Thus, economic growth which will
be the dependent variable will be proxied by real
gross domestic product growth rate (RGDP) while the
explanatory variables include trade flow as to be
proxied by trade openness and trade liberalization as
import tariffs, import quotas, export taxes and export
subsidies. Therefore, the model for this study is stated
as followed:
The structural form of the model is:
GDP = f(TRAL, TARF, QUO, TAXE, SUB)
… … … (1)
The mathematical form of the model is:
GDP = β0 + β1TRAL + β2TARF + β3QUO + β4TAXE
+ β5SUB … (2)
The econometric form of the model is:
GDP = β0 + β1TRAL + β2TARF + β3QUO + β4TAXE
+ β5SUB + µi (3)
Where;
GDP = Gross Domestic Product proxied by GDP
growth rate
TRAL = Trade flows proxied by trade openness
TARF = Import tariffs
QUO = Import quotas
TAXE = Export taxes
SUB = Export subsidies
f = Functional relationship
β0 = intercept of the model
β1 - β5 = parameters of the regression coefficients
µi = Stochastic error term
Explanation of variables
A. Gross Domestic Product (GDP): GDP is
commonly used as an indicator of the economic
health of a country, as well as to gauge a country's
standard of living. GDP is also the total value of
the goods and services produced by the people of
a nation during a year not including the value of
income earned in foreign countries. In this study
GDP will be proxied by GDP growth rate.
B. Trade flows (TRAL): TRAL is the removal or
reduction of restrictions or barriers on the free
exchange of goods between nations. This includes
the removal or reduction of both tariff (duties and
surcharges) and non-tariff obstacles (like licensing
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rules, quotas and other requirements). The easing
or eradication of these restrictions is often referred
to as promoting "free trade." Trade liberalization
will be proxied by trade openness.
C. Import Tariffs (TARF): An import tariff is a tax
placed by governments on commodities that are
shipped into a country from a foreign country.
These taxes are often a way to discourage a
country's consumers from buying products from
another country and to support domestic products
and services. Governments generally have the
right to determine what products will have a tariff
and how much that tax will be. Tariffs are used to
restrict trade, as they increase the price of
imported goods and services, making them more
expensive to consumers. They are one of several
tools available to shape trade policy. TARF will
be proxied by prices of imported goods.
D. Import Quotas (QUO): An import quota is a
limit on the quantity of a good that can be
produced abroad and sold domestically. It is a
type of protectionist trade restriction that sets a
physical limit on the quantity of a good that can be
imported into a country in a given period of time.
It is also a governmental restriction on the
quantities of a particular commodity that may be
imported within a specific period of time, usually
with the goal of protecting domestic producers of
that commodity from foreign competition. Import
quotas are foreign trade policies undertaken by
domestic governments that are intended to
"protect" domestic production by restricting
foreign competition. In general, a quota is simply
a quantity restriction placed on a good, service, or
activity. QUO will be proxied by import fees.
E. Export taxes (TAXE): Taxes on exports are all
levies on goods being transported out of the
country or services being delivered to
nonresidents by residents. Rebates on exported
goods that are repayments of previously paid
general consumption taxes, excise taxes, or import
duties are deducted from the gross amounts
receivable from these taxes, not from amounts
receivable from export taxes. Tax exporting
occurs when a country (or other jurisdiction) shifts
its tax burden (partially) abroad. Tax exporting
does not necessarily involve direct taxation of
foreign residents. It can also work through other
economic channels, such as price changes. Export
taxes were measured by levies on goods being
transported out of the country or services being
delivered to nonresidents by residents
F. Export subsidies (SUB): Export subsidy is a
government policy to encourage export of goods
and discourage sale of goods on the domestic
market through direct payments, low-cost loans,
tax relief for exporters, or government-financed
international advertising. An export subsidy
reduces the price paid by foreign importers, which
means domestic consumers pay more than foreign
consumers. Governments also regulate trade by
providing various kinds of support for export
producers. Export subsidies come in a variety of
forms, but they share the trait in benefitting from
government funds. These funds enable them to
offer their products or services to other countries
at lower prices. The objective of this support is to
enable domestic producers to “win” sales by
undercutting the prices charged by producers in
foreign countries. In this study, export subsidy
was proxied by export expansion grant.
Method of data analysis
The economic technique employed in the study is the
ordinary least square (OLS). This is because the OLS
computational procedure is fairly simple a best linear
estimator among all unbiased estimation, efficient and
shown to have the smallest (minimum variance) thus,
it become the best linear unbiased estimator (BLUE)
in the classical linear regression (CLR) model. Basic
assumptions of the OLS are related to the forms of the
relationship among the distribution of the random
variance (μi).
OLS is a very popular method and in fact, one of the
most powerful methods of regression analysis. It is
used exclusively to estimate the unknown parameters
of a linear regression model. The Economic views (E-
views) software will be adopted for regression
analysis.
Stationarity (unit root) test:
The importance of this test cannot be overemphasized
since the data to be used in the estimation are time-
series data. In order not to run a spurious regression, it
is worthwhile to carry out a stationary test to make
sure that all the variables are mean reverting that is,
they have constant mean, constant variance and
constant covariance. In other words, that they are
stationary. The Augmented Dickey-Fuller (ADF)
test would be used for this analysis since it adjusts for
serial correlation.
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Decision rule: If the ADF test statistic is greater than
the MacKinnon critical value at 5% (all in absolute
term), the variable is said to be stationary. Otherwise
it is non stationary.
Cointegration test:
Econometrically speaking, two variables will be
cointegrated if they have a long-term, or equilibrium
relationship between them. Cointegration can be
thought of as a pre-test to avoid spurious regressions
situations (Granger, 1986). As recommended by
Gujarati (2004), the ADF test statistic will be
employed on the residual.
Decision Rule: if the ADF test statistic is greater than
the critical value at 5%, then the variables are
cointegrated (values are checked in absolute term)
PRESENTATION OF EMPIRICAL RESULT
Summary of Stationary Unit Root Test
Establishing stationarity is essential because if there is
no stationarity, the processing of the data may
produce biased result. The consequences are
unreliable interpretation and conclusions. We test for
stationarity using Augmented Dickey-Fuller (ADF)
tests on the data. The ADF tests are done on level
series, first and second order differenced series. The
result of regression is presented in table 1 below.
Table 1: Summary of ADF test results
Variables
ADF
Statistics
Lagged
Difference
1% Critical
Value
5% Critical
Value
10% Critical
Value
Order of
Integration
GDP -5.896859 1 -3.653730 -2.957110 -2.617434 I(1)
TRAL -6.659575 1 -3.653730 -2.957110 -2.617434 I(1)
TARF -7.309947 1 -3.653730 -2.957110 -2.617434 I(1)
QUO -4.791580 1 -3.653730 -2.957110 -2.617434 I(1)
TAXE -8.050680 1 -3.653730 -2.957110 -2.617434 I(1)
SUB -5.656894 1 -3.653730 -2.957110 -2.617434 I(1)
Source: Researchers computation
Evidence from unit root table above shows that none of the variables are stationary at level difference, that is,
I(0). All the variables are stationary at their first difference, that is I(1). Since the ADF absolute value of each of
these variables is greater than the 5% critical value, they are all stationary at their different integrated
differences. They are also significant at 1% and 10% respectively. Since one of the variables is integrated at
level form and some at first difference, we go further to carry out the cointegration test. The essence is to show
that although all the variables are stationary, whether the variables have a long term relationship or equilibrium
among them. That is, the variables are cointegrated and will not produce a spurious regression.
Summary of Cointegration Test
Cointegration means that there is a correlations hip among the variables. Cointegration test is done on the
residual of the model. Since the unit root test shows that none of the variable is stationary at level I(0) rather all
the variables are at first difference 1(1), we therefore test for cointegration among these variables. The result is
presented in tables 4.2 below for Trace and Maximum Eigenvalue co integration rank test respectively.
Table 2: Summary of Johansen Cointegration Test
Unrestricted Cointegration Rank Test (Trace)
Hypothesized
No. of CE(s)
Eigen value
Trace
Statistic
0.05
Critical Value
Prob.**
None * 0.863871 149.5939 95.75366 0.0000
At most 1 * 0.776203 83.78693 69.81889 0.0026
At most 2 * 0.405348 50.38536 47.85613 0.0009
At most 3 * 0.265071 37.23267 29.79707 0.0028
At most 4 0.137541 7.069284 15.49471 0.5696
At most 5 0.064106 2.186345 3.841466 0.1392
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Unrestricted Cointegration Rank Test (Maximum Eigenvalue)
Hypothesized
No. of CE(s)
Eigen value
Max-Eigen
Statistic
0.05
Critical Value
Prob.**
None * 0.863871 65.80695 40.07757 0.0000
At most 1 * 0.776203 49.40158 33.87687 0.0004
At most 2 0.405348 17.15269 27.58434 0.5669
At most 3 0.265071 10.16338 21.13162 0.7292
At most 4 0.137541 4.882939 14.26460 0.7566
At most 5 0.064106 2.186345 3.841466 0.1392
Source: Researchers computation
Table 2 indicates that trace have only 4 cointegrating variables in the model while Maximum Eigenvalue
indicated only 2 cointegrating variables. Both the trace statistics and Eigen value statistics reveal that there is a
long run relationship between the variables. That is, the linear combination of these variables cancels out the
stochastic trend in the series. This will prevent the generation of spurious regression results. Hence, the
implication of this result is a long run relationship between economic growth and other variables used in the
model.
Presentation of result
The result of the regression test is presented in table 3 below.
Dependent Variable: GDP
Method: Least Squares
Sample: 1980 2017
Included observations: 38
Table 3: Summary of regression results
Variable Coefficient Std. Error t-Statistic Prob.
C 13.65292 1.586529 8.605529 0.0000
TRAL 3.103851 0.001931 5.993892 0.0001
TARF -0.016923 0.048691 -3.195943 0.0005
QUO -0.102660 0.002789 -4.539390 0.0002
TAXE -0.303048 0.041463 -4.797047 0.0003
SUB 0.302470 0.006804 1.363060 0.0200
R-squared 0.737018 F-statistic 12.33118
Adjusted R-squared 0.677249 Prob(F-statistic) 0.000009
S.E. of regression 1.473944 Durbin-Watson stat 1.893361
Source: Researchers computation
Evaluation of estimates
To discuss the regression results as presented in table 3, we employ economic a priori criteria, statistical criteria
and econometric criteria.
Evaluation based on economic a priori criteria
This subsection is concerned with evaluating the regression results based on a priori (i.e., theoretical)
expectations. The sign and magnitude of each variable coefficient is evaluated against theoretical expectations.
From table 3, it is observed that the regression line have a positive intercept as presented by the constant (c) =
13.65292. This means that if all the variables are held constant or fixed (zero), GDP will be valued at 13.65292.
Thus, the a-priori expectation is that the intercept could be positive or negative, so it conforms to the theoretical
expectation.
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It is observed in table 3 that trade flows and export subsidies have a positive impact on economic growth in
Nigeria, while import tariffs, impact quotas and export taxes have a negative impact on economic growth in
Nigeria.
From the regression analysis, it is observed that all the variables conform to the a priori expectation of the
study. Thus, table 4 summarises the a priori test of this study.
Table 4: Summary of economic a priori test
Parameters
Variables
Expected Relationships Observed Relationships Conclusion
Regressand Regressor
β0 GDP Intercept +/- + Conform
β1 GDP TRAL + + Conform
β2 GDP TARF - - Conform
β3 GDP QUO - - Conform
β4 GDP TAXE - - Conform
β5 GDP SUB + + Conform
Source: Researchers compilation
Evaluation based on statistical criteria
This subsection applies the R2
, adjusted R2
, the S.E and the f–test to determine the statistical reliability of the
estimated parameters. These tests are performed as follows:
From our regression result, the coefficient of determination (R2) is given as 0.737018, which shows that the
explanatory power of the variables is moderately high and/or strong. This implies that 74% of the variations in
the growth of the trade flows, import tariffs, import quotas, export taxes and export subsidies are being
accounted for or explained by the variations in economic growth in Nigeria. While other determinants of
economic growth not captured in the model explain just 26% of the variation in economic growth in Nigeria.
The adjusted R2 supports the claim of the R2
with a value of 0.677249 indicating that 68% of the total variation
in the dependent variable (economic growth is explained by the independent variables (the regressors)). Thus,
this supports the statement that the explanatory power of the variables is moderately high and strong.
The F-statistic: The F-test is applied to check the overall significance of the model. The F-statistic is
instrumental in verifying the overall significance of an estimated model. The hypothesis tested is:
H0: The model has no goodness of fit
H1: The model has a goodness of fit
Decision rule: Reject H0 if Fcal > Fα (k-1, n-k) at α = 5%, accept if otherwise.
Where
V1 / V2 Degree of freedom (d.f)
V1 = n-k, V2 = k-1:
Where; n (number of observation); k (number of parameters)
Where k-1 = 6-1= 5
Thus, n-k = 35-6 = 29
Therefore, F0.05(5,29) = 2.21 (From the F table) … F-table
F-statistic = 12.33118 (From regression result) … F-calculated
Since the F-calculated > F-table, we reject H0 and accept H1 that the model has goodness of fit and is
statistically different from zero. In other words, there is significant impact between the dependent and
independent variables in the model.
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Evaluation based on econometric criteria
In this subsection, the following econometric tests are used to evaluate the result obtained from our model:
autocorrelation, heteroscedasticity and multicolinearity.
Test for Autocorrelation
Using Durbin-Watson (DW) statistics which we obtain from our regression result in table 3, it is observed that
DW statistic is 1.893361 or approximately 2. This implies that there is no autocorrelation since d* is
approximately equal to two. 1.893361 tends towards two more than it tends towards zero. Therefore, the
variables in the model are not autocorrelated and that the model is reliable for predications.
Test for Heteroscedasticity
This test is conducted using the white’s general heteroscedascity test. The hypothesis testing is thus:
H0: There is a heteroscedasticity in the residuals
H1: There is no heteroscedasticity in the residuals
Decision rule: Reject H0 if the computed f-statistics is significant. Otherwise, accept at 5%level of significance.
Since the F-calculated > F-table, computed f-statistics is significant. Hence, since the F-calculated is
significant, we reject H0 and accept H1 that the model has no heteroscedasticity in the residuals and therefore,
reliable for predication.
Test for Multicolinearity
This means the existence of an exact linear relationship among the explanatory variable of a regression model.
This means the existence of an exact linear relationship among the explanatory variable of a regression model.
This will be used to check if collinearity exists among the explanatory variables. The basis for this test is the
correlation matrix obtained using the series. The result is presented in table 5 below.
Table 5: Summary of Multicollinearity test
Variables Correlation Coefficients Conclusion
TRAL and TARF 0.409527 No multicollinearity
TRAL and QUO 0.150126 No multicollinearity
TRAL and TAXE 0.639668 No multicollinearity
TRAL and SUB 0.149280 No multicollinearity
TARF and QUO 0.451401 No multicollinearity
TARF and TAXE 0.721823 No multicollinearity
TARF and SUB -0.065427 No multicollinearity
QUO and TAXE 0.516913 No multicollinearity
QUO and SUB -0.009027 No multicollinearity
TAXE and SUB 0.103633 No multicollinearity
Source: Researchers computation
Decision Rule: From the rule of Thumb, if correlation coefficient is greater than 0.8, we conclude that there is
multicolinearity but if the coefficient is less than 0.8 there is no multicolinearity. We therefore, conclude that
the explanatory variables are not perfectly linearly correlated.
Test of research hypotheses
The t-test is used to know the statistical significance of the individual parameters. Two-tailed tests at 5%
significance level are conducted. The Result is shown on table 4.6 below. Here, we compare the estimated or
calculated t-statistic with the tabulated t-statistic at t α/2 = t0.05 = t0.025 (two-tailed test).
Degree of freedom (df) = n-k = 35-6 = 29
So, we have: T0.025 (29) = 2.045 … Tabulated t-statistic
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In testing the working hypotheses, which partly satisfies the objectives of this study, we employ a 0.05 level of
significance. In so doing, we are to reject the null hypothesis if the t-value is significant at the chosen level of
significance; otherwise, the null hypothesis will be accepted. This is summarized in table 6 below.
Table 6: Summary of t-statistic
Variable t-tabulated (tα/2) t-calculated (tcal) Conclusion
Constant ±2.045 8.605529 Statistically Significance
TRAL ±2.045 5.993892 Statistically Significance
TARF ±2.045 -3.195943 Statistically Significance
QUO ±2.045 -4.539390 Statistically Significance
TAXE ±2.045 -4.797047 Statistically Significance
SUB ±2.045 1.363060 Statistically Insignificance
Source: Researchers computation
We begin by bringing our working hypothesis to
focus in considering the individual hypothesis. From
table 6, the t-test result is interpreted below;
For TRAL, tα/2 < tcal, therefore we reject the null
hypothesis and accept the alternative hypothesis. This
means that TRAL have a significant impact on GDP.
For TARF, tα/2 < tcal, therefore we reject the null
hypothesis and accept the alternative hypothesis.
Thus, TARF do have a significant impact on GDP.
For QUO, tα/2 < tcal, therefore we accept the null
hypothesis and reject the alternative hypothesis. This
means that QUO do has a significant effect on GDP.
For TAXE, tα/2 < tcal, therefore we accept the null
hypothesis and reject the alternative hypothesis. This
means that TAXE do has a significant effect on GDP.
For SUB, tα/2 > tcal, therefore we accept the null
hypothesis and reject the alternative hypothesis. Thus,
SUB has no significant impact on GDP.
From the analysis so far, it can be observed that trade
flows have contributed positively to the economic
growth in Nigeria. The study has shown that the
degree of trade openness of the Nigerian economy to
other countries’ economy has not only contributed
much to the growth of the economy but also has better
the welfare and improved the standard of living of the
citizens in the country. The study concluded that
positive significant impact of the trade flows on
economic growth in Nigeria is as a result of the
removal or reduction of restrictions or barriers on the
free exchange of goods between nations. This
includes the removal or reduction of both tariff (duties
and surcharges) and non-tariff obstacles (like
licensing rules, quotas and other requirements) in
Nigeria. The study shows that import tariff and quotas
measured by prices of imported goods and import fees
respectively have portrayed a negative significance
relationship in the Nigerian economy respectively.
This is as a result of high import tariffs and low
import quotas that the Nigerian governments do adapt.
The Nigerian government has put in place one or two
events or actions to reduce the prices of imported
goods thereby encouraging the local industries and
also, quotas which is a limit on the quantity of a good
that can be produced abroad and sold domestically.
Governments undertakes import quotas as a foreign
trade policy which intended to "protect" domestic
production by restricting foreign competition.
Governments generally have the right to determine
what products will have a tariff and how much that
tax will be, therefore, contributing to the economic
growth and development in Nigeria. Export taxes and
subsidy are also trade liberalization policies that
Nigerian government has adapted in the recent years.
Currently, both export taxes and subsidy has
contributed immensely to the growth and
development of the Nigerian economy as a result of
high export taxes and subsidies. The study has shown
that export taxes have a negative significant
relationship in Nigerian economy while export
subsidy is positively insignificant impact in Nigerian
economy. The Nigerian government has succeeded in
offering their products or services to other countries at
lower prices which have contributed to the growth of
the economy while in terms of export taxes, the
Nigerian government has tried to raise the levies on
goods being exported out of the country or services
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being delivered to non-residents by residents in order
to add value to the economy.
Summary of findings
The study attempted to explain the impact of trade
liberalization and trade flows on Nigerian economic
growth from 1980 -2017 using Ordinary least Square
(OLS) technique method. All data used are secondary
data obtained from the Statistical Bulletin of Central
Bank of Nigeria (CBN).
In executing the study, the OLS techniques was
applied after determining stationarity of our variables
using the ADF Statistic, as well as the cointegration of
variables using the Johansen approach and was
discovered that the variables are stationary and have a
long term relationship among the variables in the
model.
From the result of the OLS, it is observed that trade
flows and export subsidies have a positive
relationship with economic growth. This means that
when trade flows and export subsidies are increasing,
it will bring about more growth in Nigerian economy.
On the other hand, import tariffs, import quotas and
export taxes have a negative impact on economic
growth in Nigeria. This means that if import tariffs,
import quotas and export taxes are falling, there will
be increase in economic growth.
From the regression analysis, the result show that all
the variables conform to the a priori expectation of the
study, where economic growth have a positive impact
on trade flows and export subsidies and a negative
impact with import tariffs, import quotas and export
taxes.
From the empirical reviewed work, some authors
argued that trade liberalization and trade flows is
positively related to economic growth; while some
authors argued that it is negatively related. However,
from empirical analysis of this study, it was found that
trade liberalization and trade flows are positively
related to economic growth in Nigeria.
The F-test conducted in the study shows that the
model has a goodness of fit and is statistically
different from zero. In other words, there is a
significant impact between the dependent and
independent variables in the model.
The findings of the study also show that trade flows,
import tariffs, import quotas and export taxes are
statistically significant in explaining the Nigerian
economy while export subsidy is statistically
insignificant.
Finally, the study shows that there is a long run
relationship exists among the variables. Both R2
and
adjusted R2
show that the explanatory power of the
variables is very high or strong. The standard errors
show that all the explanatory variables were all low.
The low values of the standard errors in the result
show that some level of confidence can be placed on
the estimates.
Recommendations
This paper principal focus was to unravel the impact
of trade liberalization on the Nigerian economy from
1980 to 2017. To achieve these goals, details analysis
of the effects of trade flows, impact tariffs, impact
quotas, export taxes and export subsidy on the
economy was carried out. The result indicates that
there is a very strong positive impact of all the
variables and each variable based on the analysis and
discussion of results above have a significant effect on
economic growth in Nigeria except export subsidy but
it conforms to the study a priori expectation.
Government should encourage import liberalization
through reduction in tariff rates, gradual removal of
Non-Tariff Barriers (NTB), outright banning of
certain goods which will ensure that our imports,
following trade liberalization, is directed mainly on
intermediate and capital goods. Imports of
consumables would be brought to nil and therefore
there would be a corresponding increase in the
production of competitive import. Consequently, a
higher component of intermediate and capital goods
in total import will bring about an improvement in the
production of tradable goods, which in turn can
provoke increase in exports. This by implication
would increase the level of export in the country
thereby leading to economic growth in the country.
The Nigerian government should liberalized trade
policy in such a way that will bring about import
substitution and export promotion via import quotas
and tariffs and export taxes and subsidy respectively.
Since import tariffs and quotas are significant in
explaining in Nigerian economy, the government is
hereby advised encouraged local industries by
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adapting high import tariffs and low import quotas.
This will discourage high dependent on importation
goods and encourage our local industries to grow.
Finally, the government should vigorously seek to
improve the international stand of the economy with
other economies of the world so as to enlarge the
market for Nigerian exports. It should also re-orient
its policy towards the external sector and ensure that
the sector contribute optimally to output growth.
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