Testing the validity of the export-led growth hypothesis in Nigeria: Evidence from non-oil and oil exports
Oladapo Fapetu () and
Segun Daniel Owoeye ()
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Oladapo Fapetu: Department of Banking & Finance, Federal University of Agriculture, Abeokuta, Ogun State, Nigeria
Segun Daniel Owoeye: Department of Computer Science, University of Peshawar-Pakistan
Computational Methods in Social Sciences (CMSS), 2017, vol. 5, issue 2, 53-60
Nigeria is a developing economy and leading oil exporter in Africa. This study tests for the validity of the export-led growth hypothesis in Nigeria between 1981 and 2014 by disaggregating export trade into non-oil export and oil export trade. It examines the causal effect of non-oil export, oil export and import trade on economic growth. The Toda-Yamamoto augmented Granger non-causality test reveals that there is unidirectional causality from non-oil export, oil export and import trade to economic growth, thus implying that Nigeria is non-oil export-led, oil export-led and import-led. Also, it shows that non-oil export trade leads economic growth more than oil export trade. On the whole, the study finds evidence to validate the export-led growth hypothesis in Nigeria.
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Persistent link: https://EconPapers.repec.org/RePEc:ntu:ntcmss:vol5-iss2-17-53
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