Home Project-material AN EMPIRICAL ANALYSIS ON THE IMPACT OF OIL AND NON-OIL EXPORTS ON NIGERIA’S ECONOMY (1981-2012)

AN EMPIRICAL ANALYSIS ON THE IMPACT OF OIL AND NON-OIL EXPORTS ON NIGERIA’S ECONOMY (1981-2012)

Dept: ECONOMICS File: Word(doc) Chapters: 1-5 Views: 22

Abstract

This research focuses on the impact of oil and non-oil exports on Nigeria’s economy from 1981 to 2012. Data on gross domestic product, oil export and non-oil export were used. The ordinary least square (OLS) was used to estimate the parameters. The research results from econometrics analysis revealed that oil and non-oil exports have significant impact on Nigeria’s economy. The unit root test was conducted using the Augmented Dickey- Fuller and Phillip Perron unit root test and all the variables were integrated at order one. The cointegration test was also conducted using the Johansen cointegration test technique and the results shows that the variables under study have no long run equilibrium relationship. Other test conducted includes the Granger causality test and the autocorrelation test. The Granger causality test was conducted to determine the direction of causality. The study recommends as part of Nigeria’s strategy for achieving rapid and sustainable economic growth the f
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