UUM ETD | Universiti Utara Malaysian Electronic Theses and Dissertation
FAQs | Feedback | Search Tips | Sitemap

Impact of macroeconomic factors on economic growth, agricultural output and export in Nigeria

Oluwapemi, Oyetade Oluwatoyese (2017) Impact of macroeconomic factors on economic growth, agricultural output and export in Nigeria. PhD. thesis, Universiti Utara Malaysia.

[img] Text
s95506_01.pdf
Restricted to Registered users only

Download (2MB)
[img]
Preview
Text
s95506_02.pdf

Download (819kB) | Preview

Abstract

The correct determinations of the macroeconomic factors would drive economic growth especially the agricultural output and export for a specific country. Thus, the main objective of the study is to ascertain the major macroeconomic factors that would drive Nigeria’s economic growth and agricultural sector in terms of output and export. The long-run and short-run effects of the macroeconomic factors identified on economic growth, agricultural output and export are examined. In addition, the direction of Granger causality among oil export, agricultural export and economic growth is determined. This study used the data span from 1981 to 2014. Augmented Dickey Fuller (ADF) and Philips and Perron (PP) unit root test were employed to test for stationarity of the series. The bound testing was then used to examine the existence of long-run relationship, while Autoregressive Distributed Lag (ARDL) was used to examine the long-run and short-run relationship. Finally, the Granger causality was employed to test further relationship among oil export, agricultural export and economic growth. The results indicate that agricultural export and crude oil price have positive and significant impact on economic growth in the long-run but insignificant in the short-run. In the short-run, agricultural land and crude oil price hindered agricultural output with government spending on agriculture and unemployment rate being positive and significant on agricultural output. In the long-run, agricultural land and crude oil price have positive and significant impact on the agricultural output; though unemployment rate is negative and significant. Structural Adjustment Policy (SAP) has negative and insignificant impact both in the short-run and long-run on agricultural output but negative and significant on agricultural export. Hence, the study suggests that an increase in the quantity of agricultural export, government spending, improvement in SAP and the rise in the crude oil price will enhance the nation’s agriculture and economic growth.

Item Type: Thesis (PhD.)
Uncontrolled Keywords: agricultural export, agricultural output, crude oil price, economic growth, exchange rate
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: School of Economics, Finance & Banking
Depositing User: Mr. Badrulsaman Hamid
Date Deposited: 17 Mar 2019 08:09
Last Modified: 17 Mar 2019 08:09
URI: http://etd.uum.edu.my/id/eprint/7094

Actions (login required)

View Item View Item