Economic growth, investment and export performance in Nigeria 1970–2006
by O. Olayinka Akinlo
International Journal of Business and Emerging Markets (IJBEM), Vol. 3, No. 3, 2011

Abstract: The paper examines the relationship between export, economic growth and investment (domestic and foreign) for Nigeria over the period 1970–2006 using Vector Autoregressive (VAR) technique and variance decomposition analysis. The results from the cointegration analysis suggest that there is a long-run equilibrium relationship. Economic growth and Foreign Direct Investment (FDI) have small, and not a statistically significant effect, on export. In addition, the results show that innovations in each variable are mainly due to own innovation. The results show no evidence of causality running from economic growth to export. The paper demonstrates the fact that in oil-rich economies like Nigeria economic growth and investment do not significantly affect export performance.

Online publication date: Mon, 27-Jun-2011

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