IDEAS home Printed from https://ideas.repec.org/a/asi/ajemod/v2y2014i3p115-127id827.html
   My bibliography  Save this article

Trends and Drivers of Agricultural Investments and Growth in Nigeria: The Pre and Financial Sector Reforms Experience

Author

Listed:
  • Akpaeti Aniekan J
  • Bassey Nsikan E
  • Okoro Udeme S
  • Nkeme Kesit K

Abstract

This study examined the growth rates in agricultural investments and output in Nigeria from 1970-2009 using ordinary least square in a time series analysis. Findings revealed that agricultural investments and growth recorded a growth rate of 37.44 percent and 30.47 percent in the pre-financial sector reform periods. The result for the financial sector reform periods showed a growth rate of 23.00 percent and 7.04 percent for agricultural investment and growth respectively. The differences in growth rates were not significantly different at 5 percent (tcal < ttab at P=0.5) between the periods. There was also deceleration in growth of agricultural investments in the two periods under consideration, implying that financial sector reform might have brought an overall decrease in agricultural investments in the two periods. Also, while there was stagnation in the growth process of agricultural output in the pre-financial sector reform periods, there was acceleration in the financial sector reform periods. Hence, policies and sound regulatory framework that would enhance the development of a strong, healthy and dynamic financial system should be pursued. Such policies should be tailored towards the provision of sound infrastructures and macroeconomic stability that would create incentives for agricultural investment and growth of business opportunities on a sustainable basis and foster the expansion of financial institutions.

Suggested Citation

  • Akpaeti Aniekan J & Bassey Nsikan E & Okoro Udeme S & Nkeme Kesit K, 2014. "Trends and Drivers of Agricultural Investments and Growth in Nigeria: The Pre and Financial Sector Reforms Experience," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 2(3), pages 115-127.
    • Handle: RePEc:asi:ajemod:v:2:y:2014:i:3:p:115-127:id:827
    as

    Download full text from publisher

    File URL: https://archive.aessweb.com/index.php/5009/article/view/827/1274
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:asi:ajemod:v:2:y:2014:i:3:p:115-127:id:827. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Robert Allen (email available below). General contact details of provider: https://archive.aessweb.com/index.php/5009/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.