Browsing by Author "David, O. A."

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    AGRICULTURAL PRODUCTION AND ECONOMIC GROWTH IN NIGERIA
    (DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI, 2011-12-08) Ayodeji, S.; David, I. J.; David, O. A.
    The relationship between Agricultural production (crop production, livestock, forestry and fishing) and economic growth in Nigeria was analyzed. Co-integration and error correction modeling were employed to analyze the macroeconomic data and also to establish an equilibrium long-run and short term relationship. Furthermore estimates of factor affecting the Current market price of GDP were derived using residual-base Eagle Granger Augmented Dickey-Fuller (ADF) t-statistic procedures. The result indicated the existence of co-integration at 1, 5 and 10 percent significance level, thus rejecting the null hypothesis of no co-integration. As a result a parsimonious error-correction model was set-up. The statistical significance of the error correction model for GDP at current market price validates the existence of an equilibrium relationship (long run and short term relationship) among the variables. The result therefore shows that the combined effect of crop production, livestock, forestry and fishing jointly affect the Nigerian GDP at current market price.