Does the Abundance of Natural Resources Crowd-Out the Manufacturing Sector? Evidence from Nigeria

Chile, Nzeh Innocent; Uzoechina, Benedict I.; Eze, Millicent Adanne; Imoagwu, Chika Priscilla; Anyachebelu, Uzoma M.

doi:10.18488/journal.107.2021.93.108.126

Cited by 3 publications

(1 citation statement)

References 16 publications

(16 reference statements)

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“…Nigeria is endowed with an abundance of natural resources, including solid minerals and land that can be used for agriculture (Ogunleye 2008;Jato and Ayaga 2022;(Chile et al 2021). Some examples of these agricultural goods are palm oil, cocoa, groundnuts, beans, melon, maize, and rice.…”

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confidence: 99%

The Growth of Nigeria's Economy From 1981 to 2019 in Relation to the Financing of Agriculture

Okon Jacob

2023

Food.agr.manag.

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The analysis of various economic variables in Nigeria from 1981 to 2019 shows that the country’s economy has been heavily reliant on oil exports, which has left it vulnerable to external shocks and hindered economic growth. This over-reliance on oil exports has led to neglect of the agricultural sector, which was once the main source of foreign currency earnings for Nigeria. As a result, there has been a decline in food production and an increase in imports. However, a study investigating the impact of government spending on agriculture on Nigeria’s economic growth using secondary data covering the same period shows that investing in agriculture is essential for Nigeria to achieve a diversified economy and sustainable economic growth. The study uses the Ordinary Least Square (OLS) approach and the Augmented Dickey-Fuller (ADF) unit root test to analyze the data and concludes that diversifying the economy into non-oil industries, such as agriculture, is likely to have a significant impact on economic growth. The regression analysis showed that government agricultural spending has a positive impact on economic growth. The findings suggest that RGDP, AO, AL, AE, and IFR had an up-down tendency, while INT had an up-down-up trend. The skewness statistic indicates that the variables’ frequency distributions were positively skewed, while the Kurtosis statistic indicates that they were normally distributed. The unit root tests indicate that all variables were stationary at 5%. The regression analysis showed that AO had a positive association with RGDP, while AL had a negative association with it. The study also provides additional information, such as the contribution of agriculture to Nigeria’s GDP and the statistical reliability of the variables.

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Section: Introductionmentioning

confidence: 99%

The Growth of Nigeria's Economy From 1981 to 2019 in Relation to the Financing of Agriculture

Okon Jacob

2023

Food.agr.manag.

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Dynamic relationship between resource endowment, financial agglomeration, innovation-driven, and green total factor productivity

Zhu

et al. 2023

Energy & Environment

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As conflicts between emissions reductions and economic growth intensify, an increasing number of countries and regions are focusing on green total factor productivity (GTFP). Financial agglomeration (QWS), resource endowment (SE), and innovation-driven (ID) are the main factors that cause regional differences in GTFP. However, few scholars have comprehensively considered the impact of the interaction between SE, ID, and QWS on GTFP. This article uses the Global Malmquist-Luenberger (GML) index to calculate the GTFP of 30 Chinese provinces from 2003 to 2020 and constructs a dynamic panel model to present the first comprehensive study of the interactions between SE, ID, and QWS and their relationship with GTFP. The conclusions are as follows. (1) SE is positively correlated with GTFP, which is different from the “resource curse” theory proposed by existing research. (2) There is a crowding-out effect between SE and ID, and their interaction will restrain the growth of GTFP. (3) QWS promotes ID, and the interaction between the two promotes the growth of GTFP. (4) There is a restraining effect between QWS and SE, and their interaction will hinder the growth of GTFP. (5) The key policy directions to improve China's GTFP are to undertake strategic planning from a comprehensive perspective, including encouraging innovation, guiding financial development reasonably, and avoiding excessive consumption of resources.

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Economic openness, institutional quality and per capita income: Evidence from the Economic Community of West African States (ECOWAS)

Nzeh¹,

Ogwuru²,

Okolie³

et al. 2023

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The controversy surrounding the actual impact of institutional quality and economic openness on economic growth is among the motivating factors for this study. The study seeks to investi- gate this relationship in the Economic Community of West African States (ECOWAS) by using the panel autoregressive distributed lag (ARDL) test with annual series covering the period from 2000 to 2020. Findings indicate that in the short-run, regulatory quality and FDI outflows had an adverse impact on the economic performance of the ECOWAS bloc. Furthermore, the long-run results show that trade openness, political stability and FDI outflows had an adverse impact on the economy of the bloc, while regulatory quality positively affected the economy. Consequently, the paper recommends that member countries in the ECOWAS bloc should put in place effective regulatory framework in the short and medium term to attract FDI inflows, while building a strong and stable political environment in the long term.

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Does the Abundance of Natural Resources Crowd-Out the Manufacturing Sector? Evidence from Nigeria

Cited by 3 publications

References 16 publications

The Growth of Nigeria's Economy From 1981 to 2019 in Relation to the Financing of Agriculture

The Growth of Nigeria's Economy From 1981 to 2019 in Relation to the Financing of Agriculture

Dynamic relationship between resource endowment, financial agglomeration, innovation-driven, and green total factor productivity

Economic openness, institutional quality and per capita income: Evidence from the Economic Community of West African States (ECOWAS)

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