How Important is Oil in Nigeria’s Economic Growth?
Canadian Center of Science and Education,Vol 5,NO 4,p.165-179
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| Idioma: | inglês |
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Canadian Center of Science and Education
2023
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| Acesso em linha: | https://ir.oauife.edu.ng/123456789/5363 |
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| author | Akinlo, Anthony Enisan |
| author_facet | Akinlo, Anthony Enisan |
| author_sort | Akinlo, Anthony Enisan |
| collection | DSpace |
| description | Canadian Center of Science and Education,Vol 5,NO 4,p.165-179 |
| format | Journal |
| id | oai:ir.oauife.edu.ng:123456789-5363 |
| institution | My University |
| language | English |
| publishDate | 2023 |
| publisher | Canadian Center of Science and Education |
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| spelling | oai:ir.oauife.edu.ng:123456789-53632023-05-13T18:08:27Z How Important is Oil in Nigeria’s Economic Growth? Akinlo, Anthony Enisan VAR model, Causality, Oil, Impulse response functions, Development, Nigeria Canadian Center of Science and Education,Vol 5,NO 4,p.165-179 This study assesses the importance of oil in the development of the Nigerian economy in a multivariate VAR model over the period 1960-2009. Empirical evidence shows that the five subsectors are cointegrated and that the oil can cause other non oil sectors to grow. However, oil had adverse effect on the manufacturing sector. Granger causality test finds bidirectional causality between oil and manufacturing, oil and building & construction, manufacturing and building & construction, manufacturing and trade & services, and agriculture and building & construction. It also confirms unidirectional causality from manufacturing to agriculture and trade & services to oil. No causality was found between agriculture and oil, likewise between trade & services and building & construction. The paper recommends appropriate regulatory and pricing reforms in the oil sector to integrate it into the economy and reverse the negative impact of oil on the manufacturing sub sector 2023-05-13T16:48:46Z 2023-05-13T16:48:46Z 2012-04-01 Journal https://ir.oauife.edu.ng/123456789/5363 en application/pdf Canadian Center of Science and Education |
| spellingShingle | VAR model, Causality, Oil, Impulse response functions, Development, Nigeria Akinlo, Anthony Enisan How Important is Oil in Nigeria’s Economic Growth? |
| title | How Important is Oil in Nigeria’s Economic Growth? |
| title_full | How Important is Oil in Nigeria’s Economic Growth? |
| title_fullStr | How Important is Oil in Nigeria’s Economic Growth? |
| title_full_unstemmed | How Important is Oil in Nigeria’s Economic Growth? |
| title_short | How Important is Oil in Nigeria’s Economic Growth? |
| title_sort | how important is oil in nigeria s economic growth |
| topic | VAR model, Causality, Oil, Impulse response functions, Development, Nigeria |
| url | https://ir.oauife.edu.ng/123456789/5363 |
| work_keys_str_mv | AT akinloanthonyenisan howimportantisoilinnigeriaseconomicgrowth |