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Intra-Regional Trade and Sectoral Performances

Author

Listed:
  • Chibuike R. Oguanobi
  • Anthony A. Akamobi
  • Geraldine E. Nzeribe
  • Chibueze A. Aniebo
  • Ogochukwu T. Chukwuma

Abstract

This article examined whether Nigeria’s major sectors, that is, manufacturing, agricultural, oil and services have responded significantly to trade between the country and other Economic Community of West African States (ECOWAS) countries. Outputs of these sectors were used as their measures while intra-regional trade was captured using Nigeria’s export to and imports from the rest of ECOWAS. Using data for the period 1996 to 2008 and employing (vector autoregression) VAR methodology, the impulse response functions show that the country’s services sector had a significant positive response to her intra-regional import and export. Agricultural sector conversely had a significant negative response to import. Oil sector responded significantly to export up to midway into our sample space. But generally, Nigerian sectors have not responded significantly to intra-ECOWAS trade. Based on this finding, we therefore recommend that ECOWAS authorities should ensure comprehensive implementation of the region’s trade liberalization scheme (ETLS). This will enhance trade within the region.

Suggested Citation

  • Chibuike R. Oguanobi & Anthony A. Akamobi & Geraldine E. Nzeribe & Chibueze A. Aniebo & Ogochukwu T. Chukwuma, 2014. "Intra-Regional Trade and Sectoral Performances," Foreign Trade Review, , vol. 49(1), pages 95-106, February.
    • Handle: RePEc:sae:fortra:v:49:y:2014:i:1:p:95-106
    DOI: 10.1177/0015732513516037
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    References listed on IDEAS

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    More about this item

    Keywords

    ECOWAS; intra-regional trade; sectoral performances; Nigeria;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

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