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Toward the path of economic expansion in Nigeria: The role of trade globalization
Journal of Labor and Society ( IF 1.7 ) Pub Date : 2020-06-01 , DOI: 10.1111/wusa.12471
Udi Joshua 1 , Oladimeji M. Salami 1 , Andrew A. Alola 2, 3
Affiliation  

There are debates regarding the effect of globalization on national economies, and whether or not trade openness has a significant positive or negative influence on economic expansion and development. Thus, this study is aimed at investigating the relationship between trade globalization and Nigeria’s economic advancement. The autoregressive distributed lags (ARDL) model was employed for the time series data: real GDP, openness, foreign direct investment and population growth over the period 1981-2017. The findings of this estimation revealed that population growth is significant but inhibitor of economic prosperity (real GDP) in the short-term. However, the significant and long-run determinants of the real GDP are population growth and trade openness but not foreign direct investment. Furthermore, the Granger Causality test revealed that real GDP granger causes population growth. The study therefore concluded that trade openness and globalization are necessary for Nigeria’s economic expansion and development. Consequently, the study opined that the land border closure policy recently implemented by the Nigerian government might necessitate a significant reassessment so that the economic development projections of the country are not hindered.

中文翻译:

走向尼日利亚的经济发展之路:贸易全球化的作用

关于全球化对国民经济的影响以及贸易开放是否对经济扩张和发展产生重大的正面或负面影响,存在着争论。因此,本研究旨在调查贸易全球化与尼日利亚经济发展之间的关系。时间序列数据采用自回归分布滞后(ARDL)模型:1981-2017年期间的实际GDP,开放度,外国直接投资和人口增长。该估计的结果表明,人口增长是重要的,但在短期内却阻碍了经济繁荣(实际GDP)。但是,实际GDP的重要且长期的决定因素是人口增长和贸易开放度,而不是外国直接投资。此外,格兰杰因果关系检验表明,实际GDP格兰杰会导致人口增长。因此,研究得出结论,贸易开放和全球化对于尼日利亚的经济扩张和发展必不可少。因此,研究认为,尼日利亚政府最近实施的土地边界封闭政策可能需要重新评估,以便不妨碍该国的经济发展预测。
更新日期:2020-06-01
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