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THE IMPACT OF EXTERNAL TRADE ON ECONOMIC GROWTH IN NIGERIA
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Table of contents
CHAPTER ONE
1.1 Background of the Study 1
1.2 Problem of the Study 5
1.3 Objective of the Study 8
1.4 Statement of Research Question 8
1.5 Statement of Research Hypothesis 9
1.6 Justification of Study 9
1.7 Scope of the Study 10
1.8 Plan of the Study 11
CHAPTER TWO
2.0 Literature Review 13
2.1 Conceptual Review 13
2.1.1 Modern Theory of Trade 13
2.2 Theoretical Review 15
2.2.1 Foreign Trade and Economic Growth in Nigeria 18
2.3 Empirical Review 20
CHAPTER THREE
3.1 Introduction 29
3.2 Source of Data 29
3.3 Re-Statement of Research Hypothesis 30
3.4 Method of Data Analysis/Estimation Techniques 30
3.5 Model Specification 31
3.6 Criteria for Decision Making 32
CHAPTER FOUR
4.1 Introduction 35
4.2 Data Presentation 35
4.3 Presentation of Result 36
4.4 Interpretation of Result 37
CHAPTER FIVE
5.1 Summary of Findings 41
5.2 Conclusion 42
5.3 Recommendations 43
References 45
Appendix 50
Abstract
This study investigated the impact of external trade on economic growth in Nigeria. It focused on the determinants of international trade in Nigerian economy from 1981 – 2014. The method of estimation is based on the use of multiple regression techniques using the regress and regressed terminology. Time series secondary data were used for the analysis. The secondary data were obtained from such publications as World Bank Digest of Statistics, Central Bank of Nigeria Statistical Bulletin, International Financial Statistics etc.
The result of the coefficient shows that volume of trade and lag of real GDP are positively significant to country RGDP. An increase in these variables eventually leads to increase in total volume of real gross domestic product.
It is therefore recommended that in order to promote growth and development, conscious efforts should be made in the formulation of policies to create enabling environment that will promote non-oil exports, ensure growth induced imports and promote the use of local raw materials.
Key words: External Trade, Growth and Economy
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