Globalization and Non-Oil Export Performance in Nigeria: A Bound Cointegration Approach

Olorunfemi Alimi

EuroEconomica, 2017, issue 2(36), 44-54

Abstract: This study investigates the impact of globalization on non-oil export performance in Nigeria. Using time series data, the paper employed the Autoregressive Distributed Lag (ARDL) approach to analyse the relationship between globalization and non-oil export performance within the periods of 1970 to 2014. The results revealed that there is a long-run relationship between globalization and non-oil export performance in Nigeria. The parameter estimates showed that globalization, official development assistance, investment and exchange rate have positive impact on non-oil sector export in Nigeria. In addition, gross domestic product and foreign direct investment have negative impact on non-oil sector export performance in Nigeria. The study concludes that the impact of globalization on non-oil export performance is a long-run phenomenon. Thus, the government should adopt and implement trade policies that are capable of sustaining non-oil sector growth in Nigeria.

Keywords: Trade openness; investment; non-oil exports; output; exchange rate (search for similar items in EconPapers)
Date: 2017
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