Exports and economic growth in Nigeria

Goodly Otto, Wilfred UKPERE

Abstract


Nigeria is an oil dependent economy, over 90 per cent of its exports receipts in recent years flow from petroleum but this sector is currently affected by local challenges, which include insecurity, oil thefts, sabotage and an unfriendly operational environment. These challenges are generating loses for the major producers and encouraging capital flight but amidst this situation, the economy is said to be having an impressive growth. This paradox informed this research. The study was designed to see the nexus between exports and economic growth in Nigeria. Using data from the Central Bank of Nigeria spanning 1980-2011, the study with the aid of OLS regression analysis found a strong relationship between Exports and economic growth in Nigeria. Nigeria will be better served if it diversifies its export base. It must also create structures that lead to better redistribution of export incomes within the local economy.


Keywords


exports, external sector, imports, economic growth

Full Text:

PDF

References


A.W, Chung S., and Mark J. Roberts (2000). ‘Productivity and Turnover in the Export Market: Micro-level evidence from Republic of Korea and Taiwan (China). The World Bank Economic Review Vol. 14 (1) Jan ISSN 0258-6770.

Aigbokhaode, P. (2010). The Impact of Exchange Rate Reforms on Trade Performance. Unpublished Paper Presented at ESUT MSP p.1

Alec, C. and Morinder, Pari. (1976). Employment, Income Distribution and Development Strategy.

Arrow, K.J. (1960). The Economic Implications of Learning by Doing R.E.S. June.

Central Bank of Nigeria (2011). Statistical Bulletin, Abuja

Dayo, Oketola (2013). ‘Oil thieves spill 500 Barrels in Adibawa’ Punch Newspaper. July, 3, P. 80.

Ekejiuba, H.N. (2010). The Impact of Oil on Foreign Exchange in Nigeria, Unpublished Paper Presented at ESUT MSP PH.

Eravwoke, K.E. (2010). International Trade as an Engine of Growth in Developing Countries. Unpublished Seminar paper. Uniport.

Fallenbuchi, Z.M. (1989). ‘Economic Growth in Hungary and Russia’ Economic Development in the then Soviet Union and Eastern Europe Vol. 2.

Hawkins, J. (2013). U.S to make Visa Application Easier in Nigeria. Speech by the Consul-General in Nigeria as aired through the Nigeria INFO-Radio on Tuesday 6th August, 2012.

Jhingan, M.L. (2005). Principles of Economics. Vrinda Publication Delhi. India

Jhingan, M.L. (2008). The Economics of Development Planning. Vrinda Publication Delhi India.

Kindleberger, C.P. (1965). Economic Development. MacGraw Hill Ltd.

Kuznets, S. (1966). Modern Economic Growth: Rate Structure and Spread: New Haven: Yale University Press.

Levacic, R. (1978). Macroeconomics: The Static and Dynamic Development of a Modern Economy. ELBS London.

Lewis, W.A. (1956). Economic Development with unlimited supplies of labour. Manchester School of Economics and Statistics. Vol. 22, May.

Lucas, R.E. (1988). On the Mechanics of Economic Development. Journal of monetary economics, vol. 22, no. 1, p. 3-42.

Madison, A. (1970). Economic Growth in Japan and USSR. George Allen and Unwin London.

Nnodim, O. (2013). ‘Oil Theft Impact may last over 20 years’. The Punch. Wednesday July 24, p. 34.

Obasanjo, O. (2013). What is Growth without Employment and Welfare Improvements. Speech of the former Nigerian President at opening ceremony of his farm in Liberia.

Okowa, W.J. (1996). How the Tropics Underdeveloped the Negro. Paragraphics Port Harcourt.

Romer, P.M. (1986). Increasing Returns and Long Run Growth. J.P.E. October.

Sachs, J.D. and A Warner (1995). Economic Reform and the Process of Global Integration. Brookings papers on economic activity.

Schumpeter, J.A. (1934). Theory of Economic Development An inquiry into profits, capital, credit, interest, and the business cycle, Transaction Publishers, vol. 55.

Seers, D. (1969), The meaning of development, International Development Review, vol. 11, no. 4, p. 2-6.




Copyright (c) 1970

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.


As to respect GDPR, this site do not allow free registation. Please contact us at: ashues@spiruharet.ro

GDPR Policy:

Please read the statement below:
Processing of personal data and free movement of these data

Registering with this site the author agree with the collection, processing and use of his personal data, exclusively within the ASHUES journal.


 

AWARDS 

WILL BE CONFERRED AT THE END OF THE YEAR

To crown and encourage research efforts of the authors, at the end of a year of publishing our journal board will award online the best papers by distinctions:

1. Best Original Paper Award -  for the paper that has brought something completely new in the reader's attention (a new concept, a new trend, a new proposal in research, etc.)

2. Excellence Award - for the most cited paper and visualized in the online environment during the year

3. First, Second and Third Award- for the best documented and substantiated papers during the year

4. Special Award - to award PhD students and postdocs for the most well documented and substantiated paper


Administred:Rocsana B. Manea Tonis

http://icourses.wix.com/itmk