Agricultural Investment Risk Relationship to National Domestic Production

Omankhanlen, A. E

doi:10.4018/ijrcm.2013040105

Cited by 1 publication

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“…Adesina et al (2006) posited that agricultural finance promotes a sustainable economy, reduces poverty, increases business opportunities and leads to economic growth that improves the standard of living of the people. Omankhanlen (2013) averred that the lack of agricultural credit to finance agrarian investment is a major problem in mechanizing our agricultural produce. Oyakhilomen and Zibah (2014), examined Agricultural production output and its effects on economic growth in Nigeria considering the rural poverty alleviation.…”

Section: Introductionmentioning

confidence: 99%

Agricultural Finance and Economic Growth: Evidence From Nigeria

Okunlola

Osuma

Omankhanlen

2019

Business: Theory and Practice

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The study performed an in-depth examination of the impact of guaranteed agricultural finance to oil palm, cocoa, groundnuts, fishery, poultry, cattle, roots, and tubers on the real gross domestic product of the country. Time series data was sourced from the Central Bank of Nigeria statistical bulletin of various issues. The data sets covered thirty-seven (37) years spanning from 1981 to 2017. The study used Autoregressive Distributed Lag (ARDL) model for its analysis. However, prior estimation and due to several exogenous variables, Phillip Perron stationarity test was used to determine the order of integration because of its robustness to serial correlation and heteroskedasticity. The study also specified the lag criterion based on LR, FPE, AIC, SC, and HQ using Newey-West covariance matrix estimator. Findings from both short-run and long-run models as confirmed by the Wald test, which shows that none of the guaranteed agricultural finance is statistically significant to real gross domestic product. The study, therefore, recommends increased funding and deliberate efforts at determining which of the nominated agricultural spending has the most contributory impact on growth.

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Section: Introductionmentioning

confidence: 99%