Determinants of timber exports in Nigeria: an error correction modeling approach
AbstractAbstract This study analyzed the factors influencing the exports of timber in Nigeria with the aid of Error Correction Model (ECM) representation procedures. The analysis was carried out with the data collected on roundwood and sawnwood over 33 years (1970 – 2003) using the long run restricted ECM. The statistical significance of the ECM terms for roundwood (-1.110) and sawnwood (-1.772) validates the existence of relationship among the variables. This suggests the short run dynamic effect of the changes in export quantities of roundwood are determined by one-year lagged export quantity of roundwood & domestic output-consumption ratio of roundwood, domestic output-consumption ratio of roundwood and domestic-international price ratio of roundwood, while that of sawnwood is determined by lagged values of the official exchange rate, domestic consumption-output, domestic consumption-output and world export-output ratios of the sawnwood. Efforts to boost timber export from Nigeria needs to incorporate policy measures that will improve the quantity and quality of timber products in order to meet the local and foreign demands.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 2608.
Date of creation: 01 Apr 2007
Date of revision:
Roundwood; Sawnwood; Nigeria; Exports; Co-integration and Error-correction model;
Find related papers by JEL classification:
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
This paper has been announced in the following NEP Reports:
- NEP-AFR-2007-04-14 (Africa)
- NEP-ALL-2007-04-14 (All new papers)
- NEP-INT-2007-04-14 (International Trade)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Salehi-Isfahani, Djavad, 1989. "Oil Exports, Real Exchange Rate Appreciation, and Demand for Imports in Nigeria," Economic Development and Cultural Change, University of Chicago Press, vol. 37(3), pages 495-512, April.
- Fakhri, Hasanov, 2010. "The Impact of Real Effective Exchange Rate on the Non-oil Export: The Case of Azerbaijan," MPRA Paper 29556, University Library of Munich, Germany.
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