Empirical Analysis Of Agricultural Production And Inflation Rate In Nigeria (1970- 2006)

Olatunji, G. B.; Omotesho, O. A.; Ayinde, Opeyemi Eyitayo; Adewumi, Matthew Olaniyi

doi:10.4314/agrosh.v12i1.2

Cited by 13 publications

(9 citation statements)

References 3 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In this case, the valuation of GDPA would be high. This finding is in conformity with Olatunji et al (2012) that there was direct relationship between agricultural output change and inflation rate in Nigeria between 1970 and 2006. Similarly, Oyinbo and Rekwot (2014) found that there was a unidirectional causality from inflationary trend to agricultural productivity.…”

Section: Optimal Lag Selectionsupporting

confidence: 91%

Impact of Foreign Direct Investment on Nigeria’s Agricultural Sector (1981 to 2019)

Ogbanje¹,

Salami²

2022

IJEAB

View full text Add to dashboard Cite

The need to augment the financial policy interventions of the Central Bank of Nigeria in the agricultural sector is sine qua non. Since agriculture is still the mainstay of Nigeria’s economy, its reliance on foreign direct investment (FDI) ought to be ascertained. Consequently, this study investigated the impact of foreign direct investment on Nigeria’s agricultural sector. Time series data between 1981 and 2019 were obtained from the databases of the Central Bank and Food and Agriculture Organisation. The Augmented Dickey-Fuller test shows that the variables were I(1). Johansen’s co-integration test suggested long-run relationship among the variables. Findings revealed slower acceleration of agricultural productivity (6.28) than FDI (17.99). Also, FDI and exchange rate had statistically significant (p < 0.05) and negative impact on the agricultural productivity, while implicit price deflator for the agricultural sector had statistically significant (p < 0.001) and positive impact on agricultural productivity in the long-run. The error correction term indicates that the speed of adjustment to the short-run equilibrium was high (79.71%). Hence, reliance on foreign direct investment would have adverse effect on agricultural gross domestic product in the long-run. The Federal Ministry of Agriculture and Rural Development should evolve policies that would guarantee steady inflow of foreign direct investment to agriculture in a manner to reverse the negative impact or explore alternatives. In addition, the Central Bank of Nigeria should adopt a sound monetary policy to attain stability in the exchange rate as well as supply of FOREX to ease purchase of agricultural inputs.

show abstract

Section: Optimal Lag Selectionsupporting

confidence: 91%

Impact of Foreign Direct Investment on Nigeria’s Agricultural Sector (1981 to 2019)

Ogbanje¹,

Salami²

2022

IJEAB

View full text Add to dashboard Cite

show abstract

“…In an effort to curb the incidence of poverty as well as food insecurity in the country, successive governments embarked on various policies and programmes aimed at boosting agricultural production (Olatunji et al, 2012). This is because agriculture remains the major source of livelihood of majority of the rural poor in the country.…”

Section: Introductionmentioning

confidence: 99%

Effect of maize production on poverty alleviation of farmers in Edo state, Nigeria

Ahmadu¹,

Edeoghon²

2018

Agrosearch

View full text Add to dashboard Cite

show abstract

“…In this regard an empirical investigation of the determinants of inflation is essential. The high inflation rate has become a major concern because poverty rate has increased (Olatunji, Omotesho, Ayinde and Ayinde, 2010).…”

Section: Literature Review 21 Theoretical Considerations and Empirica...mentioning

confidence: 99%

The Effect of Interest Rates, Exchange Rates and Output Gap on Inflation in Five ASEAN Countries: A Panel Data Evidence

Sari¹,

Asngari²,

Hidayat³

et al. 2023

JAER

View full text Add to dashboard Cite

Almost every country, both developed and developing ones, faces stability problems and economic growth problems. One of the issues that receives special attention in each country is inflation. Inflation is seen as a crucial variable for potential economic conditions where sustainable economic growth is the main goal of every country. Unstable inflation can be influenced by macroeconomic variables, including interest rates, exchange rates, and output gaps. Observing how the determinants affect inflation, we hypothesize that interest rates and exchange rates have a negative and significant effect on inflation while the output gap has a positive and significant effect on inflation. To explore our goals, we use panel data consisting of ASEAN countries including Indonesia, Malaysia, Singapore, Thailand and the Philippines. The panel data analysis method allows us to study the dynamics of changes with time series by using the Fixed Effect Model. The data used in this study are secondary data for 2000-2019 obtained from the World Bank and Global Economic Data, Indicators, Charts & Forecasts. The results showed that the variables Interest Rate, Exchange Rate and Output Gap together had a significant effect on inflation. Interest Rates and Exchange Rates have a negative and significant effect on Inflation in the five ASEAN countries. Meanwhile, the Output Gap has a positive and significant effect on inflation in the five ASEAN countries. Indonesia and the Philippines have the highest inflation estimates. Indonesia is the country with the highest inflation with an average inflation of 6.76%.The lowest inflation intercepts and estimates were in Singapore. The inflation rate over the past 20 years in Singapore has tended to fluctuate with an average of 1.53%.

show abstract

Empirical Analysis Of Agricultural Production And Inflation Rate In Nigeria (1970- 2006)

Abstract: ABSTRACT

Cited by 13 publications

References 3 publications

Impact of Foreign Direct Investment on Nigeria’s Agricultural Sector (1981 to 2019)

Impact of Foreign Direct Investment on Nigeria’s Agricultural Sector (1981 to 2019)

Effect of maize production on poverty alleviation of farmers in Edo state, Nigeria

The Effect of Interest Rates, Exchange Rates and Output Gap on Inflation in Five ASEAN Countries: A Panel Data Evidence

Contact Info

Product

Resources

About