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Analysis Of The Effects Of Oil And Non-Oil Export On Economic Growth In Nigeria

Author

Listed:
  • Idowu Aremu Raheem

    (University of Ibadan)

Abstract

This study investigated the role of oil and non-oil exports on the Nigerian economy over the period of 1981 to 2015. The ADF and PP unit root test, Johansen cointegration test, Granger causality test, impulse response functions (IRF) and variance decomposition (VD) were used in the analysis of the study. The cointegration test indicates that GDP, Oil and Non-oil exports were cointegrated. The Granger causality test indicates short run unidirectional causality running from oil export to GDP. There are also bidirectional long run causality relationship between oil export and GDP, and unidirectional long run causality running from non-oil export to GDP. The study result indicates that oil exports have inverse relationship with economic growth while non-oil exports have positive relationship with economic growth.

Suggested Citation

  • Idowu Aremu Raheem, 2016. "Analysis Of The Effects Of Oil And Non-Oil Export On Economic Growth In Nigeria," Working Papers hal-01401103, HAL.
    • Handle: RePEc:hal:wpaper:hal-01401103
    Note: View the original document on HAL open archive server: https://hal.science/hal-01401103v2
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    File URL: https://hal.science/hal-01401103v2/document
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    Citations

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    Cited by:

    1. Waheed, Rida & Sarwar, Suleman & Dignah, Ashwaq, 2020. "The role of non-oil exports, tourism and renewable energy to achieve sustainable economic growth: What we learn from the experience of Saudi Arabia," Structural Change and Economic Dynamics, Elsevier, vol. 55(C), pages 49-58.
    2. Young Ademola Obafemi, 2022. "Specialization Versus Diversification as Alternative Strategies for Sustainable Growth in Resource-Rich Developing Countries. Case of Nigeria," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 32(3), pages 1-47, September.
    3. Jahangir S M Rashed & Dural Betul Yuce, 2018. "Crude oil, natural gas, and economic growth: impact and causality analysis in Caspian Sea region," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 54(3), pages 169-184, September.

    More about this item

    Keywords

    oil exports; non-oil exports and Granger causality; Economic growth;
    All these keywords.

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