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Disaggregated Impact Analysis Of Trade On Growth: The Role Of Financial Openness In Nigeria

Author

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  • Beatrice Onawunreyi Omo-Ikirodah

    (Economics Department, University of Benin, Nigeria)

Abstract

This paper decomposes and estimates the impact of foreign trade on economic growth and evaluates the relevance of financial openness in the relationship in Nigeria using annual time series data between 1987 and 2020. The key findings of the paper are that although trade positively drives economic growth, the effect is due largely to the contribution of the non-oil export component in the long run and short run. This, however, does not rule out the fact that non-oil import over the long run and short run or the overall value of import in the long run lead to a high economic growth in the economy provided higher degree of financial openness is tolerated. In that, subject to broadening the scope of financial openness, Nigeria's participation in international trade will result in rapid economic growth both in the long run and short run.

Suggested Citation

  • Beatrice Onawunreyi Omo-Ikirodah, 2022. "Disaggregated Impact Analysis Of Trade On Growth: The Role Of Financial Openness In Nigeria," OLSZTYN ECONOMIC JOURNAL, University of Warmia and Mazury in Olsztyn, Faculty of Economic Sciences, vol. 17(1), pages 5-21, September.
    • Handle: RePEc:ole:journl:v:17:y:2022:i:1:p:5-21
    DOI: https://doi.org/10.31648/oej.7617
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    More about this item

    Keywords

    export; financial openness; growth; import; oil; trade;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F19 - International Economics - - Trade - - - Other
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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