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The BRICS and Nigeria’s Economic Performance: A Trade Intensity Analysis

Author

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  • Maxwell Ekor
  • Oluwatosin Adeniyi
  • Jimoh Saka

Abstract

The study examined Nigeria’s trading relationship with the individual BRICS (Brazil, Russia, India, China and South Africa) by applying a combination of descriptive and econometric techniques. The findings show that Nigeria’s trade intensity is highest with Brazil followed by trade with India and then South Africa. The outcome of the vector autoregressive analysis indicated that Nigeria’s gross domestic product (GDP) reverts faster to equilibrium when there is a shock to exports to and imports from Brazil, as against Nigeria exports to and imports from the other BRICS countries. A key policy implication of the results is that of all the BRICS countries, Brazil appears to have the most potential in terms of improving Nigeria’s trade position.

Suggested Citation

  • Maxwell Ekor & Oluwatosin Adeniyi & Jimoh Saka, 2014. "The BRICS and Nigeria’s Economic Performance: A Trade Intensity Analysis," Economy, Asian Online Journal Publishing Group, vol. 1(2), pages 37-53.
    • Handle: RePEc:aoj:econom:v:1:y:2014:i:2:p:37-53:id:552
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    References listed on IDEAS

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    1. Çakır, Mustafa Yavuz & Kabundi, Alain, 2013. "Trade shocks from BRIC to South Africa: A global VAR analysis," Economic Modelling, Elsevier, vol. 32(C), pages 190-202.
    2. Erik Hjalmarsson & Pär Österholm, 2010. "Testing for cointegration using the Johansen methodology when variables are near-integrated: size distortions and partial remedies," Empirical Economics, Springer, vol. 39(1), pages 51-76, August.
    3. Iulia Monica OEHLER-ŞINCAI, 2011. "Trends in Trade and Investment Flows between the EU and the BRIC Countries," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(6(559)), pages 73-112, June.
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    More about this item

    Keywords

    Trade intensity; Vector autoregression; Impulse-response; BRICS; MINT; Policy.;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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