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The Primary Sectors of the Economy and the Dutch Disease in Nigeria

  • J. O. Olusi

    (Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria.)

  • M. A. Olagunju

    (Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria.)

Registered author(s):

    This study examines whether the Dutch Disease—a resource boom leading to the decline of the erstwhile tradable sector—is present in Nigeria in the light of the rejection of the Dutch Disease thesis in other studies on Nigeria. Quarterly data for our variables of interest were predominantly sourced from the International Financial Statistics of the IMF. The data are analysed through the use of vector autoregressive (VAR) modelling consisting of impulse response functions and variance decomposition analyses. Our results show that the Dutch Disease was diagnosed, albeit, as a delayed occurrence. This suggests that the government should lay more emphasis on the agricultural sector hitherto not given deserved attention.

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    File URL: http://www.pide.org.pk/pdf/PDR/2005/Volume2/159-175.pdf
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    Article provided by Pakistan Institute of Development Economics in its journal The Pakistan Development Review.

    Volume (Year): 44 (2005)
    Issue (Month): 2 ()
    Pages: 159-175

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    Handle: RePEc:pid:journl:v:44:y:2005:i:2:p:159-175
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    1. J. E. Meade & E. A. Russell, 1957. "Wage Rates, The Cost Of Living, And The Balance Op Payments," The Economic Record, The Economic Society of Australia, vol. 33(64), pages 23-28, 04.
    2. Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-48, December.
    3. Stephen P.A. Brown & Mine K. Yücel, 1999. "Oil prices and U.S. aggregate economic activity: a question of neutrality," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q II, pages 16-23.
    4. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
    5. Kuralbayeva, Karlygash & Kutan, Ali M. & Wyzan, Michael L., 2001. "Is Kazakhstan vulnerable to the Dutch disease?," ZEI Working Papers B 29-2001, ZEI - Center for European Integration Studies, University of Bonn.
    6. Cuddington, John, 1989. "Commodity Export Booms in Developing Countries," World Bank Research Observer, World Bank Group, vol. 4(2), pages 143-65, July.
    7. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
    8. A. E. Akinlo & A. F. Odusola, 2003. "Assessing the impact of Nigeria's naira depreciation on output and inflation," Applied Economics, Taylor & Francis Journals, vol. 35(6), pages 691-703.
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