TRADE OPENNESS AND OUTPUT GROWTH IN NIGERIA (AN ECONOMETRIC ANALYSIS)
ABSTRACT
This research work studies the international competitiveness of the Nigerian economy in the global market by analyzing the relationship between trade openness and output growth in Nigeria. Using time-series data over the period 1970-2007, we show that output growth of the Nigeria economy is a function of two sets of shocks;
- External shocks (openness and real exchange rate) and
- Internal shocks (real interest rate and unemployment rate).
A non-monotonic and an ANCOVA econometric models are postulated in order to capture the structural pattern of the relationship between openness and output growth as well as the policy effect of structural Adjustment program (SAP).
The result shows that there is an inverted U-shape (no-monotonic) relationship between openness and output growth in Nigeria and the optimum degree of openness for the economy is estimated to be about 67%. Also, the liberalization policy of the SAP has positive economic effect on the output growth. The ECM reveals that 79% of the equilibrium error is being corrected in the next period. We concluded that unbridled openness may have deleterious effect on the real growth of output of the Nigerian economy.
CHAPTER ONE
1.1 Introduction
… This chapter will address the background information that motivated this study, the challenges that prompted it, its aim, and its objectives as a preface to subsequent sections of the study. Additional factors include the study's significance, scope, limitations, research questions and hypotheses, and the definition of technical terms.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
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TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
Introduction
- 1.1 Background of study
- 1.2 Statement of the research problem
- 1.3 Objectives of the study
- 1.4 Statement of the research hypothesis
- 1.5 Justification of the study
- 1.6 Significance of the study
- 1.7 Scope and limitation of the study
Literature Review
- 2.1 Theoretical literature
- 2.1.2 Theory of customs union and free trade areas 2.1.3Models of export-led growth
- 2.2 Empirical literature
- 2.3 Limitation of previous studies
Methodology
- 3.1 Analytical framework
- 3.2 Model specification
- 3.2.1 Test of stationarity
- 3.2.2 Test of co integration
- 3.2.3 Error correction model
- 3.3 Justification of the model
- 3.4 Estimation techniques
- 3.5 Evaluation Procedure 3.5.1 Economic test (a priori expectation)
- 3.5.2 Statistical (first order) test
- 3.5.3 Econometric (second order) test
- 3.6 Sources of data and software for estimation
Presentation And Analysis Of Results
- 4.1 Introduction
- 4.2 Presentations of regression results
- 4.2.1 Test of stationarity
- 4.2.2 Test of co integration
- 4.2.3 The Error correction model (ECM)
- 4.3 Interpretation and Evaluation of result
- 4.3.1 Evaluation based on economic criteria
- 4.3.2 Evaluation based on statistical criteria
- 4.3.3 Evaluation based on econometric criteria
- 4.4 Evaluation of the working Hypotheses
Summary, Policy Prescription And Conclusion
- 5.1 Summary
- 5.2 Policy Recommendations
- REFERENCES
Disclaimer for Complete Material Utilization
The displayed research work titled "Trade Openness and Output Growth in Nigeria (An Econometric Analysis)" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
Introduction
- 1.1 Background of study
- 1.2 Statement of the research problem
- 1.3 Objectives of the study
- 1.4 Statement of the research hypothesis
- 1.5 Justification of the study
- 1.6 Significance of the study
- 1.7 Scope and limitation of the study
Literature Review
- 2.1 Theoretical literature
- 2.1.2 Theory of customs union and free trade areas 2.1.3Models of export-led growth
- 2.2 Empirical literature
- 2.3 Limitation of previous studies
Methodology
- 3.1 Analytical framework
- 3.2 Model specification
- 3.2.1 Test of stationarity
- 3.2.2 Test of co integration
- 3.2.3 Error correction model
- 3.3 Justification of the model
- 3.4 Estimation techniques
- 3.5 Evaluation Procedure 3.5.1 Economic test (a priori expectation)
- 3.5.2 Statistical (first order) test
- 3.5.3 Econometric (second order) test
- 3.6 Sources of data and software for estimation
Presentation And Analysis Of Results
- 4.1 Introduction
- 4.2 Presentations of regression results
- 4.2.1 Test of stationarity
- 4.2.2 Test of co integration
- 4.2.3 The Error correction model (ECM)
- 4.3 Interpretation and Evaluation of result
- 4.3.1 Evaluation based on economic criteria
- 4.3.2 Evaluation based on statistical criteria
- 4.3.3 Evaluation based on econometric criteria
- 4.4 Evaluation of the working Hypotheses
Summary, Policy Prescription And Conclusion
- 5.1 Summary
- 5.2 Policy Recommendations
- REFERENCES
Disclaimer for Complete Material Utilization
The displayed research work titled "Trade Openness and Output Growth in Nigeria (An Econometric Analysis)" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
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