IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/93132.html
   My bibliography  Save this paper

The role of agricultural sector performance on economic growth in Nigeria

Author

Listed:
  • Kenny S, Victoria

Abstract

The impact of agriculture in maintaining sustainable economic growth has been a major subject of controversy in the literature for a very long time now and this is presently still on among scholars with no conclusion. However, Agriculture is the bedrock for any growing economy and thus a precondition for industrialization. This study critically examines the role of agricultural sector performance on economic growth in Nigeria. Key findings indicated that there is a significant long run relationship between agricultural domestic production and its explanatory variables (Agricultural Credit Guarantee Scheme Fund, Federal Government current expenditure on agriculture, total employment and effect of trade liberalisation). The VECM result found 35 percent speed of adjustment of the endogenous growth model which includes Agricultural Credit Guarantee Scheme Fund, Federal Government current expenditure, total employment and effect of liberalisation (SAP) on agricultural domestic production implying that Interventions in agriculture will take at least 24 months for one half of its effect to be significant on production in Nigeria. Therefore, Policy consistency and commitment of government is required before such intervention can yield the desired results.

Suggested Citation

  • Kenny S, Victoria, 2019. "The role of agricultural sector performance on economic growth in Nigeria," MPRA Paper 93132, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:93132
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/93132/1/MPRA_paper_93132.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ibhagui, Oyakhilome, 2017. "Linking Fiscal Policy and External Competitiveness in Sub-Saharan Africa – Does Government Spending Drive The Real Exchange Rate in Sub-Saharan Africa," MPRA Paper 77291, University Library of Munich, Germany, revised 03 Mar 2017.
    2. Ibhagui, Oyakhilome, 2019. "Eurozone Real Output and Covered Interest Parity Deviations: Can Stronger Real Output Lessen the Deviations?," MPRA Paper 92305, University Library of Munich, Germany, revised 20 Feb 2019.
    3. Ibhagui, Oyakhilome W. & Olokoyo, Felicia O., 2018. "Leverage and firm performance: New evidence on the role of firm size," The North American Journal of Economics and Finance, Elsevier, vol. 45(C), pages 57-82.
    4. Daniel Felix Ahelegbey & Monica Billio & Roberto Casarin, 2016. "Bayesian Graphical Models for STructural Vector Autoregressive Processes," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 31(2), pages 357-386, March.
    5. Oyakhilome Ibhagui, 2017. "Value and Wealth Creation: Stylized Evidence from Nigeria’s Listed Cement Companies," Africagrowth Agenda, Africagrowth Institute, vol. 14(4), pages 12-17.
    6. Lanre Kassim, 2013. "The Impact of Trade Liberalisation on Export Growth and Import Growth in Sub-Saharan Africa," Studies in Economics 1310, School of Economics, University of Kent.
    7. Ibhagui, Oyakhilome, 2017. "How Does Foreign Direct Investment Affect Growth in Sub-Saharan Africa? New Evidence from Non-threshold and Threshold Analysis," MPRA Paper 85784, University Library of Munich, Germany.
    8. Oyakhilome Wallace Ibhagui, 2018. "External debt and current account adjustments: The role of trade openness," Cogent Economics & Finance, Taylor & Francis Journals, vol. 6(1), pages 1446247-144, January.
    9. Ahelegbey, Daniel Felix, 2015. "The Econometrics of Bayesian Graphical Models: A Review With Financial Application," MPRA Paper 92634, University Library of Munich, Germany, revised 25 Apr 2016.
    10. Ibhagui, Oyakhilome, 2019. "Wider Covered Interest Parity Deviations and Lower Stock Returns: Evidence from the Eurozone," MPRA Paper 92363, University Library of Munich, Germany.
    11. Ibhagui, Oyakhilome, 2015. "Development Accounting of Africa’s Largest Economies – Explaining Differences in Income Levels," MPRA Paper 89081, University Library of Munich, Germany.
    12. Ibhagui, Oyakhilome W., 2019. "Does the long-run monetary model hold for Sub-Saharan Africa? A time series and panel-cointegration study," Research in International Business and Finance, Elsevier, vol. 47(C), pages 279-303.
    13. Ibhagui, Oyakhilome, 2018. "The Monetary Model of CIP Deviations," MPRA Paper 89641, University Library of Munich, Germany.
    14. Eddy L. LaDue, 1991. "Financing Agriculture in a Changing Environment: The Results of a Regional Research Effort," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 13(2), pages 299-317.
    15. Ibhagui, Oyakhilome, 2018. "Interrelations among cross-currency basis swap spreads: Pre-and post-crisis analysis," MPRA Paper 89024, University Library of Munich, Germany.
    16. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eshiozemhe Micheal Inusa & Aminu Umaru, 2021. "Openness and Agricultural Performance in Nigeria," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 9(2), pages 132-144, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kenny S, Victoria, 2019. "The Role of Public Sector Enterprise on Economic Development: A Case Study Of The Nigerian Power Sector (1981-2015)," MPRA Paper 93291, University Library of Munich, Germany.
    2. Kenny S, Victoria, 2019. "Manufacturing Sector Performance, Exchange Rate Volatility and Inclusive Growth In Nigeria (1981-2015)," MPRA Paper 93296, University Library of Munich, Germany.
    3. Kenny S, Victoria, 2019. "Effects of Human Capital Investment on Unemployment Volatility in Nigeria (1981-2015)," MPRA Paper 93295, University Library of Munich, Germany.
    4. Kenny S, Victoria, 2019. "Macroeconomic Performance Indicators and Exchange Rate Misalignment in Nigeria," MPRA Paper 93292, University Library of Munich, Germany.
    5. Victoria S, Kenny, 2019. "Effect of Foreign Direct Investment and Economic Growth in Nigeria," MPRA Paper 92873, University Library of Munich, Germany.
    6. Kenny S, Victoria, 2019. "A causal relationship between unemployment and economic growth," MPRA Paper 93133, University Library of Munich, Germany.
    7. Kenny S, Victoria, 2019. "Employee productivity and organizational performance: A theoretical perspective," MPRA Paper 93294, University Library of Munich, Germany.
    8. Kenny S, Victoria, 2019. "Exchange Rate Management and Economic Growth: An FMOLS Approach," MPRA Paper 93125, University Library of Munich, Germany.
    9. Kenny S, Victoria, 2019. "Determinants of Manufacturing Sector Performance and Its Contribution To Gross Domestic Product In Nigeria," MPRA Paper 93293, University Library of Munich, Germany.
    10. Sakiru, Olatunji Y, 2019. "Economic growth, exchange rate and FDI: A comparative analysis of Nigeria and Ghana between the year 1990 to 2000," MPRA Paper 92849, University Library of Munich, Germany.
    11. Aipoh, Godwin, 2019. "Comparative analysis of government spending, external debt, domestic credit to private sector, exchange rate and net investment to non-financial companies," MPRA Paper 92874, University Library of Munich, Germany.
    12. Kenny S, Victoria, 2019. "Challenges of female entrepreneurship in Nigeria," MPRA Paper 93166, University Library of Munich, Germany.
    13. Oyakhilome Ibhagui, 2021. "Inflation differential as a driver of cross-currency basis swap spreads," The European Journal of Finance, Taylor & Francis Journals, vol. 27(6), pages 510-536, April.
    14. Teye, Alfred Larm & Ahelegbey, Daniel Felix, 2017. "Detecting spatial and temporal house price diffusion in the Netherlands: A Bayesian network approach," Regional Science and Urban Economics, Elsevier, vol. 65(C), pages 56-64.
    15. Fakhrul Hasan & Umar Nawaz Kayani & Tonmoy Choudhury, 2023. "Behavioral Risk Preferences and Dividend Changes: Exploring the Linkages with Prospect Theory Through Empirical Analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(4), pages 517-535, December.
    16. Nakatani, Ryota, 2021. "Total factor productivity enablers in the ICT industry: A cross-country firm-level analysis," Telecommunications Policy, Elsevier, vol. 45(9).
    17. Bouri, Elie & Gupta, Rangan & Hosseini, Seyedmehdi & Lau, Chi Keung Marco, 2018. "Does global fear predict fear in BRICS stock markets? Evidence from a Bayesian Graphical Structural VAR model," Emerging Markets Review, Elsevier, vol. 34(C), pages 124-142.
    18. Abdullah, Hariem & Tursoy, Turgut, 2021. "Capital structure and firm performance: a panel causality test," MPRA Paper 105871, University Library of Munich, Germany.
    19. Ahelegbey, Daniel Felix & Giudici, Paolo & Mojtahedi, Fatemeh, 2021. "Tail risk measurement in crypto-asset markets," International Review of Financial Analysis, Elsevier, vol. 73(C).
    20. Hariem Abdullah & Turgut Tursoy, 2021. "Capital structure and firm performance: evidence of Germany under IFRS adoption," Review of Managerial Science, Springer, vol. 15(2), pages 379-398, February.

    More about this item

    Keywords

    Economic Growth and Government Expenditure;

    JEL classification:

    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:pra:mprapa:93132. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    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.