Effects of International Trade Agreements on the Economy and Society of Africa

Nagy, Henrietta; Káposzta, József; Neszmélyi, György Iván; Obozuwa, Omokheka

doi:10.4018/978-1-5225-2733-6.ch010

“…Nigerians' primary source of foreign trade is crude oil. The result of this study is in line with Nagy et al (2017) and Omitogun et al's (2018) studies. Aidi et al (2018) studied the relationship between exchange rate, inflation, and balance of payment in Nigeria (1986Nigeria ( to 2015.…”

Section: Results S and Discussionsupporting

confidence: 93%

Challenges in English Language Teaching and Learning in the 21st Century

Khubchandani¹

2019

JSS

1

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Environmental factors' influence on the exchange of goods and services across countries cannot be quantified. The study examined the effect of environmental factors on international trade by viewing of political, economic, social, and technological forces on global trade flow in Nigeria. The uniqueness of the study was the concentration on the trend of political factors such as tariff and government expenditure, economic factors such as exchange rate and inflation rate, social factors such as population rate and education level and technological elements such as electricity consumption and their impact on international trade in Nigerian economy from the period of 1997 to 2017. This quantitative method was adopted using secondary data and Regression Analysis, and Granger Causality Walds Test was used to explore the relationship among identifiable. At a significance level of 0.05, the F-statistics is 8.18 while the p-value of the F-statistics is 0.0002, which is less than 0.05. This implies that the combination of the independent variables significantly influences the balance of payment.

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“…Nigerians' primary source of foreign trade is crude oil. The result of this study is in line with Nagy et al (2017) and Omitogun et al's (2018) studies. Aidi et al (2018) studied the relationship between exchange rate, inflation, and balance of payment in Nigeria (1986 to 2015).…”

Section: Results S and Discussionsupporting

confidence: 93%

Utilization of Mass Media among College Students of Punjab Running title- Mass media utilization

Sidhu¹

2019

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Environmental factors' influence on the exchange of goods and services across countries cannot be quantified. The study examined the effect of environmental factors on international trade by viewing of political, economic, social, and technological forces on global trade flow in Nigeria. The uniqueness of the study was the concentration on the trend of political factors such as tariff and government expenditure, economic factors such as exchange rate and inflation rate, social factors such as population rate and education level and technological elements such as electricity consumption and their impact on international trade in Nigerian economy from the period of 1997 to 2017. This quantitative method was adopted using secondary data and Regression Analysis, and Granger Causality Walds Test was used to explore the relationship among identifiable. At a significance level of 0.05, the F-statistics is 8.18 while the p-value of the F-statistics is 0.0002, which is less than 0.05. This implies that the combination of the independent variables significantly influences the balance of payment.

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“…Despite these benefits, oil and minerals dominate the economy, contradicting the country's revenue diversification objective (Anudu 2020). Nagy et al (2018), who examined the effects of international trade agreements on the economy and society of Africa with a particular emphasis on Nigeria, assert that progress has been slower than anticipated. Gao et al (2023) investigated whether agricultural protectionist measures can aid in developing the local rice production in Nigeria.…”

Section: Impacts Of Trade and Economic Policies On The Nigerian Agric...mentioning

confidence: 99%

Assessing the Impact of Trade Policies on Growth and Development of the Manufacturing and Agricultural Sectors in Nigeria

Ibeh

2024

Insight on Africa

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This article examines the impact of trade policies in Nigeria (1960–2022) on the manufacturing and agricultural sectors. To set the context, I have grouped the trade policy periods into two categories: (a) the pre–structural adjustment programme (SAP) era (1960–1985) and (b) the post-SAP era (1986–2022). I have then examined economic data and all the existing literature to understand the pattern of manufacturing and agricultural outputs during these policy periods. Pre-SAP and post-SAP trade policies show a shift from protectionism to liberalisation, moderately improving agricultural and industrial sectors but still facing obstacles. Despite policies and agreements to improve trade, economic development remains unrealised. This study demonstrated that trade policies have led to erratic progress in both the agricultural and manufacturing sectors, consequently making a lesser contribution to the overall Nigerian development. Within this debate, three different schools of thought can be distinguished. The first school of thought holds that trade policy reforms benefit the growth of Nigerian manufacturing and agricultural sectors. The second school of thought contends that trade policy reforms (such as trade liberalisation) have a detrimental effect on industrial and agricultural sectors. The third school of thought argues that there is no proof or substantial linkage between trade policy reforms and the productivity and growth of manufacturing and agricultural sectors. Nevertheless, to benefit from trade liberalisation, this article identifies the need to revise the Nigerian trade policy as well as stabilise foreign exchange rates to advance and boost local manufacturing and agricultural sectors and promote active participation in trade agreements and policies.

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Effects of International Trade Agreements on the Economy and Society of Africa

Cited by 4 publications

References 3 publications

Challenges in English Language Teaching and Learning in the 21st Century

Challenges in English Language Teaching and Learning in the 21st Century

Utilization of Mass Media among College Students of Punjab Running title- Mass media utilization

Assessing the Impact of Trade Policies on Growth and Development of the Manufacturing and Agricultural Sectors in Nigeria

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