Non Oil Export Case Study

1021 Words5 Pages
Several studies have been carried out on non-oil export and economic growth both Nigeria and other countries. Some studies have positive relationship between non-oil export and economic growth while some have negative relationship between non-oil export and economic growth. Studies based on Nigerian data whose findings have positive relationship to economic growth are: Obadan (2000); Asanebi (2007); Onayemi and Ishola (2000); Ogbonna (2010); Ozoudo (2010); Opara (2010); Nwachukwu (2014) in all their finding they all used the Ordinal Least Squares (OLS); but had some weaknesses in their studies and were unable to correct for time series properties like cointegration test. Also Udoh (2012); Onodugo (2013); Usman (2010); Employed the…show more content…
Concerning for those whose findings were having negative relationship between non-oil export on economic growth include specifically Nigeria are: Raj (2002); Asaneb (2007) using linear correlation co-efficient analysis, Olayiwola and Okodua (2013) examines the non-oil exports to economic growth and used Granger causality analysis but used GDP to proxy economic growth and not growth rate of GDP. The review above shows that the empirical finding on the impact of non-oil export is not uniform because some studies find their analysis significant while some other studies were insignificant and weak impact of the non-oil export on economic growth. The reason for these discrepancies may be linked to the methodologies and types of data employed in those previous studies. What is needed to address this issue is the use of a more dynamic model that shows both the oil export and non-oil export relationship between economic growth. 2.3 Gaps in the Literatures In order to correct pitfalls in previous studies this research work will have to include some important variables which previous studies have neglected in their research variables such as the contribution of oil export, total labour-force and gross fixed capital formation in Nigeria on economic growth. This study therefore will cover these lapses by focusing on Nigeria only. However, this study will compare the magnitude and direction of
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