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An Aggregate Import Demand Function for Nigeria

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  • Douglason Omotor

Abstract

Being a small open economy, Nigeria requires imports, such as capital and intermediate goods to grow and develop. This paper uses a time series econometric technique, precisely the error-correction mechanism, to identify the factors responsible for import demand. The results show that imports, income and relative prices are all cointegrated. The econometric estimates of the import-demand function for Nigeria suggests that import demand is largely determined by real income (GDP) and less sensitive to relative prices. In addition, the structural policy shift to liberalization since 1986 is found to have little but significant impact on import demand. Development of local industries with low import content is suggested given that exchange rate policy and devaluation generally are likely to be ineffective in influencing import demand of Nigeria.

Suggested Citation

  • Douglason Omotor, 2010. "An Aggregate Import Demand Function for Nigeria," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 23(1), pages 1-13, January.
    • Handle: RePEc:taf:reroxx:v:23:y:2010:i:1:p:1-13
    DOI: 10.1080/1331677X.2010.11517397
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    Cited by:

    1. Omotor, Douglason G., 2019. "A Thrifty North and An Impecunious South: Nigeria's External Debt and the Tyranny of Political Economy," MPRA Paper 115292, University Library of Munich, Germany, revised 12 Oct 2019.
    2. Morlai Bangura & Oluwakemi Ademisola & Olufemi Saibu, 2023. "Estimating Sierra Leone’s Aggregate Import Demand Function Under Binding Foreign Exchange," Applied Economics and Finance, Redfame publishing, vol. 10(1), pages 113127-1131, February.
    3. Forgenie, David & Khoiriyah, Nikmatul, 2023. "Analyzing Food Import Demand in Indonesia: An ARDL Bounds Testing Approach," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 11(1), January.

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