Macroeconomic Analysis of Export Diversification in Nigeria

Autor:	Martins Iyoboyi
Rok vydání:	2019
Předmět:	Effective exchange rate Cointegration Economics Diversification (finance) Monetary economics Foreign direct investment Fixed capital Exchange-rate regime Private sector Capital formation
Zdroj:	Empirical Economic Review. 2:83-116
ISSN:	2522-2465 2415-0304
DOI:	10.29145/eer/21/020104
Popis:	In this paper, the Theil index was utilized to study the impact of macroeconomic variables on diversification in Nigeria for the period 1981-2015, using the bounds test approach to cointegration on data generated from secondary sources. Cointegration was found to exist between the economic diversification indicators and associated variables. We also found that capital formation, real effective exchange rate, domestic credit to private sector and foreign direct investment promote diversification. Government efforts in Nigeria should be geared towards diversifying the economy using oil revenue, promote foreign direct investment in the non-oil sector, provide fixed capital, encourage the flow of credit to the private sector, and implement a cautious exchange rate regime.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::1ad4c48b4f6bf9bb943c88da9c0d9c2e https://doi.org/10.29145/eer/21/020104 Zobrazit plný text záznamu