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Testing the validity of the export-led growth hypothesis in Nigeria: Evidence from non-oil and oil exports

Author

Listed:
  • Oladapo FAPETU

    (Department of Banking & Finance, Federal University of Agriculture, Abeokuta, Ogun State, Nigeria)

  • Segun Daniel OWOEYE

    (Department of Computer Science, University of Peshawar-Pakistan)

Abstract

Nigeria is a developing economy and leading oil exporter in Africa. This study tests for the validity of the export-led growth hypothesis in Nigeria between 1981 and 2014 by disaggregating export trade into non-oil export and oil export trade. It examines the causal effect of non-oil export, oil export and import trade on economic growth. The Toda-Yamamoto augmented Granger non-causality test reveals that there is unidirectional causality from non-oil export, oil export and import trade to economic growth, thus implying that Nigeria is non-oil export-led, oil export-led and import-led. Also, it shows that non-oil export trade leads economic growth more than oil export trade. On the whole, the study finds evidence to validate the export-led growth hypothesis in Nigeria.

Suggested Citation

  • Oladapo FAPETU & Segun Daniel OWOEYE, 2017. "Testing the validity of the export-led growth hypothesis in Nigeria: Evidence from non-oil and oil exports," Computational Methods in Social Sciences (CMSS), "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences, vol. 5(2), pages 53-60, December.
    • Handle: RePEc:ntu:ntcmss:vol5-iss2-17-53
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    Cited by:

    1. Olufemi Adewale Aluko Adefemi A. Obalade, 2020. "Import-economic growth nexus in selected African countries: An application of the Toda-Yamamoto Granger non-causality test," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 23(2), pages 117-128, November.

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