AGRICULTURAL PRODUCTION AND ECONOMIC GROWTH IN NIGERIA
| dc.contributor.author | Ayodeji, S. | |
| dc.contributor.author | David, I. J. | |
| dc.contributor.author | David, O. A. | |
| dc.date.accessioned | 2023-12-14T08:33:17Z | |
| dc.date.available | 2023-12-14T08:33:17Z | |
| dc.date.issued | 2011-12-08 | |
| dc.description.abstract | 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. | en_US |
| dc.identifier.citation | Adam, C. S (1992): Recent development in econometric methods: an application to the demand for money in Kenya. Center for the study of African economics. University of Oxford. Alexander. C and Wyeth. J (1992): Co- integration and market. Integration: An application to the Indonesian rice Market. Discussion papers in Economics: University of Sussex. No. 01/92. Ardeni. P. G.; (1989): Does the law of one price really hold for commodity prices. American Journal of Agricultural Economics, 71: 661 - 669. Dickey, D. A and Fuller. W. A (1979): Distributions of the estimations for autoregressive time series with a Unit root. Journal of the American statistical Association, 74: 427-431. Engle. R and Granger. C. (1987): Co-integration and error-correction: Representation. Estimations and Testing. Econometrica, 55: 251 - 276. Goodwin, B. K. and Schroeder. T. C. (1991): Co-integration tests and spatial price linkages in regional Cattle markets: American Journal of Agricultural Economics: 452 - 464. Granger. C.W. J and Newbold, P (1974): Spurious regressions in econometrics. Journal of Econometrics: 111-120. Granger. C. W. J. (1969): Investigating causal relations by econometric models and cross-spectral methods. Econometrica 37, 424 - 438. Granger. C. W. J. (1981): Some properties of time series data and their use in econometric model specification. Journal of Econometrics 16, 121 - 130. Chang, Y. and Martinez-Chombo. E. (2003): Electricity Demand Analysis Using Cointegration and Error Correction Models with Time Varying Parameters: The Mexican Case. Journal of Economic Letters, Classification: C51, C52, C53 and Q41. CBN (2010): Annual Financial Reports and Statement of Accounts, www.cenbank.org. Hallam, D: Machado. F: Mapsomanikis, G (1994): Co-integration analysis and the determinants of land Prices. Journal of Agricultural Economics, 45 (1): 29 - 37. Johansen, S. (1991): Estimation and hypothesis of cointegration vectors in gaussian vector autoregressive models. Econometrica, 59: 1551 - 1580. Moss, C. B (1992): Cost-price squeeze in Agriculture: An application of co-integration. Review of Agricultural Economics 14(2): 205 - 251. Ngbede. S. O. and Akintola, J. O. (2009): Co-integration and error-correction modeling of Agricultural Output. A case of Groundnut. Researcher, 1(6): 27 - 32. Nobel, A. (2003): Time-Series Econometrics: Co-integration and Autoregressive. Conditional Heteroskedasticity. The Royal Swedish Academy of Sciences. Phillips, A. W. (1957): Stabilization Policy and the Time-forms of Lagged Responses. The Economic Journal, 67(266): 265 - 277. Sargan, J. D. (1964): Wages and prices in the United Kingdom: A study in economic methodology, in P. Hart, G. Mills, and J. N. Whittaker (eds.). Econometric Analysis for National Economic Planning, Butterworths: London. Tambi, N. E (1999): Co-integration and error-correction modeling of Agricultural export supply in Cameroon: Journal of Agricultural Economics, 20: 57-67. Tijani, A. A; Ajetomobi, J. O; and Ajobo, O (1999): A co-integration Analysis of Nigeria Cocoa export Supply: Journal of Rural Economics and Development, 13(1): 45 — 55. Taiwo, A. O. (2002): Financial Sector Reforms' and Efficiency of Financial Intermediation in Nigeria: Statistical Evidence. Ife Journal of Economics and Finance Vol.5. No. 1&2. | en_US |
| dc.identifier.uri | https://keffi.nsuk.edu.ng/handle/20.500.14448/6444 | |
| dc.language.iso | en | en_US |
| dc.publisher | DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI | en_US |
| dc.subject | co-integralion, error correction model, unit root, stationarity, ADF. | en_US |
| dc.title | AGRICULTURAL PRODUCTION AND ECONOMIC GROWTH IN NIGERIA | en_US |
| dc.type | Article | en_US |