IDEAS home Printed from https://ideas.repec.org/a/ags/ijfaec/346747.html
   My bibliography  Save this article

Higher Derivative Block Method Forecast Analysis of Agricultural Components and their Impact on Economic Growth

Author

Listed:
  • Oyetade, Oluwatoyese Oluwapemi
  • Adeyeye, Oluwaseun

Abstract

This article assesses specific components of the agricultural sector as it impacts the growth of a developing nation’s economy. A mathematical model is developed with the aid of logistic growth model for the variables and the resulting model is solved numerically using a higher derivative block method to forecast the data for the agricultural components for years 2020-2025, thus utilizing data ranging from 1981-2025. Econometric analysis was carried out using ARDL bound test method and the findings indicate the existence of short and long run relationship between food production, livestock, and economic growth. In addition, the Pairwise Granger causality showed the causality movement and ascertain the positive link among the variables. Therefore, this research suggests the need to encourage food production and livestock as components of agriculture through precise economic policies and funding for progress in the country’s economic outlook.

Suggested Citation

  • Oyetade, Oluwatoyese Oluwapemi & Adeyeye, Oluwaseun, 2024. "Higher Derivative Block Method Forecast Analysis of Agricultural Components and their Impact on Economic Growth," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 12(01), January.
    • Handle: RePEc:ags:ijfaec:346747
    DOI: 10.22004/ag.econ.346747
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/346747/files/Higher%20Derivative%20Block%20Method%20Forecast.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.346747?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    3. Palma, Nuno & Reis, Jaime, 2019. "From Convergence to Divergence: Portuguese Economic Growth, 1527–1850," The Journal of Economic History, Cambridge University Press, vol. 79(2), pages 477-506, June.
    4. Jianli Sui & Wenqiang Lv, 2021. "Crop Production and Agricultural Carbon Emissions: Relationship Diagnosis and Decomposition Analysis," IJERPH, MDPI, vol. 18(15), pages 1-18, August.
    5. Kamil Serto lu & Sevin Ugural & Festus Victor Bekun, 2017. "The Contribution of Agricultural Sector on Economic Growth of Nigeria," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 547-552.
    6. Lilit GYULGYULYAN & Ihtiyor BOBOJONOV, 2019. "Factors Influencing On Participation To Agricultural Cooperatives In Armenia," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 121-134, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Oyetade, Oluwatoyese Oluwapemi & Adeyeye, Oluwaseun, 2024. "Higher Derivative Block Method Forecast Analysis of Agricultural Components and Their Impact on Economic Growth," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 12(1), January.
    2. Arash Habibi, 2019. "Non-linear impact of exchange rate changes on U.S. industrial production," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 8(1), pages 1-17, December.
    3. Kholeka Mdingi & Sin-Yu Ho, 2023. "Income inequality and economic growth: An empirical investigation in South Africa," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(2), pages 2230027-223, June.
    4. Verónica Cañal-Fernández & Julio Tascón Fernández, 2018. "The long run impact of foreign direct investment, exports, imports and GDP: evidence for Spain from an ARDL approach," Working Papers 0128, European Historical Economics Society (EHES).
    5. Debelo Bedada Yadeta & Fetene Bogale Hunegnaw, 2022. "Effect of International Remittance on Economic Growth: Empirical Evidence from Ethiopia," Journal of International Migration and Integration, Springer, vol. 23(2), pages 383-402, June.
    6. Chen, Yichun & Subhan, Mohammad & Ahmad, Gayas & Adil, Mohd & Zamir, M.N., 2024. "Unveiling the linkages among digital technology, economic growth, and carbon emissions: A resource management perspective," Resources Policy, Elsevier, vol. 91(C).
    7. David, Oladipo Olalekan, 2019. "Nexus between telecommunication infrastructures, economic growth and development in Africa: Panel vector autoregression (P-VAR) analysis," Telecommunications Policy, Elsevier, vol. 43(8), pages 1-1.
    8. Kumar, Nikeel Nishkar & Patel, Arvind, 2023. "Nonlinear effect of air travel tourism demand on economic growth in Fiji," Journal of Air Transport Management, Elsevier, vol. 109(C).
    9. Ibrar Hussain & Zahoor Khan & Muhmmad Rafiq, 2017. "Compositional Changes in Public Expenditure and Economic Growth: Time Series Evidence from Pakistan," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 9(1), pages 1-20, March.
    10. Garikai Makuyana & Nicholas M. Odhiambo, 2019. "Public and private investment and economic growth in Malawi: an ARDL-bounds testing approach," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 32(1), pages 673-689, January.
    11. Sushil Kumar Haldar, 2009. "Economic Growth in India Revisited," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 10(1), pages 105-126, January.
    12. Turan, Güngör, 2017. "An Empirical Analysis on the Long-term Relation Between Unemployment and Higher Education in Turkey," MPRA Paper 77766, University Library of Munich, Germany.
    13. Kumar, Ronald Ravinesh, 2013. "Remittances and economic growth: A study of Guyana," Economic Systems, Elsevier, vol. 37(3), pages 462-472.
    14. Nermin Ya ar, 2017. "The Relationship between Energy Consumption and Economic Growth: Evidence from Different Income Country Groups," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 86-97.
    15. Minhaj ud-Din & Muhammad Azam Khan & Muhammad Tariq, 2020. "External Debt - Blessing or Curse: Empirical Evidence from Pakistan," International Journal of Economics and Financial Issues, Econjournals, vol. 10(4), pages 235-246.
    16. Samuel Erasmus ALNAA & Juabin MATEY, 2024. "Assessing the Effects of Macroeconomic Variables on Economic Welfare in Ghana," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 9(1), pages 138-157, February.
    17. Amit Nandan & Hrushikesh Mallick, 2022. "Do growth-promoting factors induce income inequality in a transitioning large developing economy? An empirical evidence from Indian states," Economic Change and Restructuring, Springer, vol. 55(2), pages 1109-1139, May.
    18. Mohammad Imdadul Haque, 2019. "Growth Accounting for Saudi Arabia," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 9(6), pages 691-701, June.
    19. Lateef Adewale Yunusa & Ibrahim A. Adekunle & Tolulope Oyakhilome Williams & Jamiu Adeniyi Akindele, 2021. "Dilemma Between Deposit And Lending Rate: Savings-Investment Perspective," Business & Management Compass, University of Economics Varna, issue 1, pages 65-85.
    20. Dakpogan, Arnaud & Smit, Eon, 2018. "The effect of electricity losses on GDP in Benin," MPRA Paper 89545, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:ijfaec:346747. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/iiaaktr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.