The Impact Of Non Oil Exports On Economic Growth In Nigeria

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Nigeria - U.S. Trade Relations in the Non-Oil Sector

Author : Gbadebo Olusegun Odularu
Publisher : Universal-Publishers
ISBN 13 : 1599427036
Total Pages : 199 pages
Book Rating : 4.5/5 (994 download)

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Book Synopsis Nigeria - U.S. Trade Relations in the Non-Oil Sector by : Gbadebo Olusegun Odularu

Download or read book Nigeria - U.S. Trade Relations in the Non-Oil Sector written by Gbadebo Olusegun Odularu and published by Universal-Publishers. This book was released on 2008-11 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: In as much as trade fosters economic development, it also exacerbates poverty, especially in the sub Saharan African (SSA) countries. Against this backdrop, this study will increase our understanding of the estimation of non-oil commodity trade flows between Nigeria and the U.S. More specifically, the study aims to analysing the impact of African Growth Opportunity Act (AGOA) on the U.S. imports of non-oil products from Nigeria. The research objectives are woven around the following questions: - What is the nature of Nigeria's and the U.S.'s foreign trade policies with particular reference to non-oil trade? - What are the patterns, magnitude, composition and trends in Nigeria-US non-oil trade? - Which economic sectors possess greatest potential for fostering trade in the non-oil sector between Nigeria and the U.S.? - What is the impact of AGOA on the diversification and growth of non-oil exports in Nigeria? This study adopts the difference-in-differences (DiD) as the research methodology. Within the Nigerian context, DiD intuitively compares the trends in imports of AGOA non-oil products before and after AGOA with the pattern of imports of non-AGOA non-oil products before and after AGOA, controlling for the timing of AGOA, import capacity and economic performance of both U.S. and Nigeria. Using the World Trade Organisation (WTO) Integrated Data Base (IDB), the empirical analysis reveals that AGOA non-oil products increased by as much as 182 percent with the implementation of AGOA, while the non-AGOA non-oil products fell by 76 percent. Conclusively, AGOA has had a considerably positive impact on the Nigerian non-oil sector at the general level. The policy implication of the empirical analysis is the need for the U.S. to expand the product coverage and opportunities of AGOA non-oil products in order for AGOA to achieve its objectives of using trade as a potent tool for promoting economic growth in SSA.

A Model of Growth Through Creative Destruction

Author : Philippe Aghion
Publisher : London : Department of Economics, University of Western Ontario
ISBN 13 : 9780771411168
Total Pages : 0 pages
Book Rating : 4.4/5 (111 download)

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Book Synopsis A Model of Growth Through Creative Destruction by : Philippe Aghion

Download or read book A Model of Growth Through Creative Destruction written by Philippe Aghion and published by London : Department of Economics, University of Western Ontario. This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both positive and normative implications for growth. In positive terms, the prospect of a high level of research in the future can deter research today by threatening the fruits of that research with rapid obsolescence. In normative terms, obsolescence creates a negative externality from innovations, and hence a tendency for laissez-faire economies to generate too many innovations, i.e too much growth. This "business-stealing" effect is partly compensated by the fact that innovations tend to be too small under laissez-faire. The model possesses a unique balanced growth equilibrium in which the log of GNP follows a random walk with drift. The size of the drift is the average growth rate of the economy and it is endogenous to the model ; in particular it depends on the size and likelihood of innovations resulting from research and also on the degree of market power available to an innovator.

Export Instability and the External Balance in Developing Countries

Author : Mr.Atish R. Ghosh
Publisher : International Monetary Fund
ISBN 13 : 145192772X
Total Pages : 30 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Export Instability and the External Balance in Developing Countries by : Mr.Atish R. Ghosh

Download or read book Export Instability and the External Balance in Developing Countries written by Mr.Atish R. Ghosh and published by International Monetary Fund. This book was released on 1994-01-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uncertainty about the export earnings accruing to a country (sometimes referred to as export instability) is an important source of macroeconomic uncertainty in many developing countries. Theory predicts that countries should react to increases in this form of uncertainty by increasing their level of savings. The resulting asset accumulations would then act as the country’s insurance against the greater riskiness in its income stream. The paper tests this implication for a large sample of developing countries. In general, the results suggest that developing countries have indeed responded to increases in export instability by building up precautionary savings balances.

Oil Wealth and Development in Uganda and Beyond

Author : Arnim Langer
Publisher : Leuven University Press
ISBN 13 : 9462702004
Total Pages : 396 pages
Book Rating : 4.4/5 (627 download)

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Book Synopsis Oil Wealth and Development in Uganda and Beyond by : Arnim Langer

Download or read book Oil Wealth and Development in Uganda and Beyond written by Arnim Langer and published by Leuven University Press. This book was released on 2020-01-07 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multidisciplinary perspectives to governance of oil in African countries Large quantities of oil were discovered in the Albertine Rift Valley in Western Uganda in 2006. The sound management of these oil resources and revenues is undoubtedly one of the key public policy challenges for Uganda as it is for other African countries with large oil and/or gas endowments. With oil expected to start flowing in 2021, the current book analyses how this East African country is preparing for the challenge of effectively, efficiently, and transparently managing its oil sector and resources. Adopting a multidisciplinary, comprehensive, and comparative approach, the book identifies a broad scope of issues that need to be addressed in order for Uganda to realise the full potential of its oil wealth for national economic transformation. Predominantly grounded in local scholarship and including chapters drawing on the experiences of Nigeria, Ghana, and Kenya, the book blazes a trail on governance of African oil in an era of emerging producers. Oil Wealth and Development in Uganda and Beyond will be of great interest to social scientists and economic and social policy makers in oil-producing countries. It is suitable for course adoption across such disciplines as International/Global Affairs, Political Economy, Geography, Environmental Studies, Economics, Energy Studies, Development, Politics, Peace, Security and African Studies. Contributors: Badru Bukenya (Makerere University), Moses Isabirye (Busitema University), Wilson Bahati Kazi (Uganda Revenue Authority), Corti Paul Lakuma (Economic Policy Research Centre), Joseph Mawejje (Economic Policy Research Centre), Pamela Mbabazi (Uganda National Planning Authority), Martin Muhangi (independent researcher), Roberts Muriisa (Mbarara University of Science and Technology), Chris Byaruhanga Musiime (independent researcher), Germano Mwabu (University of Nairobi), Jackson A. Mwakali (Makerere University), Tom Owang (Mbarara University of Science and Technology), Joseph Oloka-Onyango (Makerere University), Peter Quartey (University of Ghana), Peter Wandera (Transparency International Uganda), Kathleen Brophy (Transparency International Uganda), Jaqueline Nakaiza (independent researcher), Babra Beyeza (independent researcher), Jackson Byaruhanga (Bank of Uganda), Emmanuel Abbey (University of Ghana).

Nigeria

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484345541
Total Pages : 92 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Nigeria by : International Monetary Fund. African Dept.

Download or read book Nigeria written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2018-03-07 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper analyzes mobilization of tax revenues in Nigeria. Low non-oil revenue mobilization is affecting the government’s objectives to expand growth-enhancing expenditure priorities, foster higher growth, and comply with its fiscal rule which limits the federal government deficit to no more than 3 percent of GDP. There is significant revenue potential from structural tax measures. A broad-based and comprehensive tax reform program is needed in the short and medium term to address these objectives and generate sustainable revenue growth by broadening the bases of income and consumption taxes, closing loopholes and leakage created by corporate tax holidays and the widespread use of other associated tax expenditures, as well as creating incentives for the subnational tiers of government to raise their own source revenues.

Handbook of Financial Time Series

Author : Torben Gustav Andersen
Publisher : Springer Science & Business Media
ISBN 13 : 3540712976
Total Pages : 1045 pages
Book Rating : 4.5/5 (47 download)

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Book Synopsis Handbook of Financial Time Series by : Torben Gustav Andersen

Download or read book Handbook of Financial Time Series written by Torben Gustav Andersen and published by Springer Science & Business Media. This book was released on 2009-04-21 with total page 1045 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Financial Time Series gives an up-to-date overview of the field and covers all relevant topics both from a statistical and an econometrical point of view. There are many fine contributions, and a preamble by Nobel Prize winner Robert F. Engle.

Is the Export-led Growth Hypothesis Valid for Developing Countries?

Author : Emilio J. Medina-Smith
Publisher : United Nations Conference on Trade and Development
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Is the Export-led Growth Hypothesis Valid for Developing Countries? by : Emilio J. Medina-Smith

Download or read book Is the Export-led Growth Hypothesis Valid for Developing Countries? written by Emilio J. Medina-Smith and published by United Nations Conference on Trade and Development. This book was released on 2001 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The export-led growth hypothesis (ELGH) postulates that export growth is one of the determinants of economic growth. This study tests the hypothesis by examining the economy of Costa Rica, using data going back to 1950. It found that although exports had a positive effect on growth, their impact was relatively. It thus challenges some of the empirical literature on ELGH and expresses doubts about using exports as a comprehensive development strategy.

Global Implications of Lower Oil Prices

Author : Mr.Aasim M. Husain
Publisher : International Monetary Fund
ISBN 13 : 151357227X
Total Pages : 41 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Global Implications of Lower Oil Prices by : Mr.Aasim M. Husain

Download or read book Global Implications of Lower Oil Prices written by Mr.Aasim M. Husain and published by International Monetary Fund. This book was released on 2015-07-14 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.

Oil Windfalls

Author : Alan H. Gelb
Publisher : Oxford University Press
ISBN 13 : 9780195207743
Total Pages : 376 pages
Book Rating : 4.2/5 (77 download)

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Book Synopsis Oil Windfalls by : Alan H. Gelb

Download or read book Oil Windfalls written by Alan H. Gelb and published by Oxford University Press. This book was released on 1988 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.

Wellbeing Economy

Author : Lorenzo Fioramonti
Publisher : Pan Macmillan South africa
ISBN 13 : 1770105182
Total Pages : 246 pages
Book Rating : 4.7/5 (71 download)

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Book Synopsis Wellbeing Economy by : Lorenzo Fioramonti

Download or read book Wellbeing Economy written by Lorenzo Fioramonti and published by Pan Macmillan South africa. This book was released on 2017-08-04 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth is a constant mantra of politicians, economists and the media. Few understand what it is, but they love and follow it blindly. The reality is that since the global financial crisis, growth has vanished in the more industrialised economies and in the so-called developing countries. Politicians may be panicking, but is this really a bad thing? Using real-life examples and innovative research, acclaimed political economist Lorenzo Fioramonti lays bare society’s perverse obsession with economic growth by showing its many flaws, paradoxes and inconsistencies. He argues that the pursuit of growth often results in more losses than gains and in damage, inequalities and conflicts. By breaking free from the growth mantra, we can build a better society that puts the wellbeing of all at its centre. A wellbeing economy would have tremendous impact on everything we do, boosting small businesses and empowering citizens as the collective leaders of tomorrow. Wellbeing Economy is a manifesto for radical change in South Africa and beyond.

The Price of Oil

Author : Bronwen Manby
Publisher : Human Rights Watch
ISBN 13 : 9781564322258
Total Pages : 230 pages
Book Rating : 4.3/5 (222 download)

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Book Synopsis The Price of Oil by : Bronwen Manby

Download or read book The Price of Oil written by Bronwen Manby and published by Human Rights Watch. This book was released on 1999 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Attempts to Import Weapons

Nigeria's Non-oil Exports

Author : Inutu Lukonga
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Nigeria's Non-oil Exports by : Inutu Lukonga

Download or read book Nigeria's Non-oil Exports written by Inutu Lukonga and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Low-Carbon Development

Author : Raffaello Cervigni
Publisher : World Bank Publications
ISBN 13 : 0821399268
Total Pages : 189 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Low-Carbon Development by : Raffaello Cervigni

Download or read book Low-Carbon Development written by Raffaello Cervigni and published by World Bank Publications. This book was released on 2013-08-05 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Government of Nigeria has adopted an ambitious strategy to make Nigeria the world’s 20th largest economy by 2020. Sustaining such a pace of growth will entail rapid expansion of the level of activity in key carbon-emitting sectors, such as power, oil and gas, agriculture and transport. In the absence of policies to accompany economic growth with a reduced carbon foot-print, emissions of greenhouse gases could more than double in the next two decades. This study finds that there are several options for Nigeria to achieve the development objectives of vision 20:2020 and beyond, but stabilizing emissions at 2010 levels, and with domestic benefits in the order of 2 percent of GDP. These benefits include cheaper and more diversified electricity sources; more efficient operation of the oil and gas industry; more productive and climate –resilient agriculture; and better transport services, resulting in fuel economies, better air quality, and reduced congestion. The study outlines several actions that the Federal Government could undertake to facilitate the transition towards a low carbon economy, including enhanced governance for climate action, integration of climate consideration in the Agriculture Transformation Agenda, promotion of energy efficiency programs, scale-up of low carbon technologies in power generation (such as renewables an combined cycle gas turbines), and enhance vehicle fuel efficiency.

Does What You Export Matter?

Author : Daniel Lederman
Publisher : World Bank Publications
ISBN 13 : 0821384910
Total Pages : 153 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Does What You Export Matter? by : Daniel Lederman

Download or read book Does What You Export Matter? written by Daniel Lederman and published by World Bank Publications. This book was released on 2012-06-18 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.

Reforming the Unreformable

Author : Ngozi Okonjo-Iweala
Publisher : MIT Press
ISBN 13 : 0262526875
Total Pages : 211 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Reforming the Unreformable by : Ngozi Okonjo-Iweala

Download or read book Reforming the Unreformable written by Ngozi Okonjo-Iweala and published by MIT Press. This book was released on 2014-08-29 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: A report on development economics in action, by a crucial player in Nigeria's recent reforms. Corrupt, mismanaged, and seemingly hopeless: that's how the international community viewed Nigeria in the early 2000s. Then Nigeria implemented a sweeping set of economic and political changes and began to reform the unreformable. This book tells the story of how a dedicated and politically committed team of reformers set out to fix a series of broken institutions, and in the process repositioned Nigeria's economy in ways that helped create a more diversified springboard for steadier long-term growth. The author, Harvard- and MIT-trained economist Ngozi Okonjo-Iweala, currently Nigeria's Coordinating Minister for the Economy and Minister of Finance and formerly Managing Director of the World Bank, played a crucial part in her country's economic reforms. In Nigeria's Debt Management Office, and later as Minister of Finance, she spearheaded negotiations with the Paris Club that led to the wiping out of $30 billion of Nigeria's external debt, 60 percent of which was outright cancellation. Reforming the Unreformable offers an insider's view of those debt negotiations; it also details the fight against corruption and the struggle to implement a series of macroeconomic and structural reforms. This story of development economics in action, written from the front lines of economic reform in Africa, offers a unique perspective on the complex and uncertain global economic environment.

Oil boom in Nigeria and its consequences for the country s economic development

Author : Irina Romanova
Publisher : GRIN Verlag
ISBN 13 : 3638605841
Total Pages : 33 pages
Book Rating : 4.6/5 (386 download)

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Book Synopsis Oil boom in Nigeria and its consequences for the country s economic development by : Irina Romanova

Download or read book Oil boom in Nigeria and its consequences for the country s economic development written by Irina Romanova and published by GRIN Verlag. This book was released on 2007-02-03 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2007 in the subject English Language and Literature Studies - Culture and Applied Geography, grade: 1,3, University of Paderborn, course: Commonwealth of Nations, language: English, abstract: The energy sector plays a vital role in Nigeria’s economy since the country is endowed with abundant energy resources, such as oil, gas, coal and water. Oil was discovered in 1958 and has since the early 1970s dominated the economy. Today, Nigeria is the largest oil producer in sub-Saharan Africa and since 1971 a member of OPEC, with an estimated production volume of 2.413 million barrel/day (2005). This makes it the world's sixth largest producer. Since 1960, Nigeria has reaped an estimated US$600 billion in oil revenue. At the same time, Nigeria has the third highest number of poor people in the world, after China and India. With a per capita income of about US$ 350, around 70 million Nigerians are living on less than one US Dollar a day. Low human development level, social conflicts and enviromental degradation are just a few problems which chararterize the current state of development in Nigeria. The question to be asked is why a country such as Nigeria which is highly endowded with one of the most valuable resources has faired disproportionally badly in economic and social terms? Why has so little been done in terms of human development? Besides, the Niger Delta region - the main producer of oil in Nigeria - though being the engine of Nigeria’s economy, also presents a paradox, because the vast oil revenues have barely touched the delta’s own pervasive local poverty. Vast natural resource reserves have many implications. They may affect socio-economic and political developments of the country as well as have considerable enviromental implications. While natural resource reserves (oil and other mineral resources) constitute a potential blessing for the country that owns them, they turn out to be a curse in most cases.

The impact of FDI and non-oil exports on economic growth in Nigeria

Author : Timothy Aderemi
Publisher : GRIN Verlag
ISBN 13 : 3668719578
Total Pages : 65 pages
Book Rating : 4.6/5 (687 download)

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Book Synopsis The impact of FDI and non-oil exports on economic growth in Nigeria by : Timothy Aderemi

Download or read book The impact of FDI and non-oil exports on economic growth in Nigeria written by Timothy Aderemi and published by GRIN Verlag. This book was released on 2018-06-06 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientific Study from the year 2018 in the subject Economics - International Economic Relations, , language: English, abstract: The controversy surrounding the impact of FDI and non-oil exports on economic growth and the dynamic interactions of these economic variables in Nigeria motivated this study. Empirical studies have found divergent views on the effect of FDI and non-oil exports on economic growth in the country. However, in achieving the objectives of this study, the author employed the dynamic OLS and VARS modeling to analyze the relationship between FDI, non-oil exports and economic growth in Nigeria during the period of 1980 to 2016. In testing for the time series properties, the evidence from estimated economic models suggests that all the variables examined are stationary at first difference I(Is) using the Augmented Dickey- Fuller (ADF) and Phillips-Perron. Also, Johansen Co integration test reveals that the variables are co integrated which confirms the existence of long-run equilibrium relationship among the variables. The study reveals that the impact of FDI on the economic growth was significant and as a unit increase in FDI impacted positively by 64% on the productive capacity of goods and services in Nigeria during the period. Meanwhile, reverse is the case for non-oil exports. In addition, the interactions among FDI, nonoil exports and economic growth appear very weak and do not follow a predictable pattern in Nigeria: that foreign direct investment should lead to improvement in non-oil exports and eventually expand the frontier of economic growth. This suggests that there are some structural rigidities in the economy that are preventing the impact of non-oil exports from being fully felt by the economy, particularly through economic growth channel. This further reinforces the presence of some institutional factors that create inherent problems in the economy that could frustrate any valid and sincere investment policies formulated by the government. Therefore, the study recommends that the policy makers need to create friendly economic policies and business environment that will boost further attraction of FDI into all sectors of the economy and the economy must be diversified as well towards non-oil sector in order to ensure maximum contributions from this sector to economic growth of Nigeria in the nearest future.