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Trade Openness and Manufacturing Sector Growth: An Empirical Analysis for Nigeria (1982-2015)

Agu Glory Chibuzo 90 PAGES (17594 WORDS) Management Technology Thesis
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ABSTRACT

This research work investigated trade openness and manufacturing sector growth: An Empirical Analysis for Nigeria (1982-2015). The study was necessitated by the

important role which trade openness plays in growing the manufacturing sector of any economy. The study made use of secondary data in its analysis. Four explanatory variables (trade openness growth, investment growth, production index growth and exchange rate growth) were specified based on theoretical underpinnings and were used to establish a relationship with manufacturing output growth of Nigeria using the multiple regression tool. The study found that among the independent variables only trade openness is statistically significant and while trade openness growth and production index growth positively affect manufacturing output growth, investment growth and exchange rate growth have inverse relationship with it respectively. In conclusion therefore, the current policy of trade liberalization is growth enhancing though the productivity of the manufacturing sector of Nigeria economy is relatively low which could be attributed to plethora of factors, including a weak technological base and low level of capacity utilization. Based on the above finding the study recommends that: The Nigerian government should avoid short-term fixes and front- loaded deals with other countries and move beyond arrangements that focus solely on the petroleum sector. High commodity prices are only a temporary vehicle that can be utilized to drive the Nigerian economy into a more economically diversified state, the true mechanism for sustainable growth.

Key Words: Trade openness, Manufacturing growth, Investment, Production index, Exchange rate, Trade liberalization.

CHAPTER ONE: Introduction

  1. 1.1  Background of Study - -

  2. 1.2  Statement of the Problem -

  3. 1.3  Aims and Objectives of the Study

  4. 1.4  Statement of Research Questions

  5. 1.5  Statement of the Research Hypotheses - -

  1. 1.6  Significance of the Study - -

  2. 1.7  Scope and Limitations of the Study

  3. 1.8  Organization of the Work -

CHAPTER TWO: Literature Review

2.1 Preamble - -
2.2 Conceptual Review

2.2.1Trade Openness-
2.2.2 The Concept of Export
2.2.3 The concept of Import
2.2.4 Trade-to-GDP ratio
2.2.5 The Concept of Globalization

  1. 2.2.6  Problem of Globalization - - - - -

  2. 2.2.7  Effect of Globalization on the World Economy -

  3. 2.2.8  Effect of Globalization on Nigeria Industry - -

  4. 2.2.9  Globalization and the Nigerian Economy - -

2.2.10Theory of Customs Unions and Free Trade Areas -

2.2.11Models of Export – Led Growth

2.3 Theoretical Literature - -

  1. 2.3.1  Mercantilist Trade Theory -

  2. 2.3.2  Absolute Advantages Trade Theory

  3. 2.3.3  Comparative Advantage Theory

  4. 2.3.4  Hecksher – Ohlin Trade Theory -

2.4 Growth Models - - -

  1. 2.4.1  Harrod – Domar Growth Model -

  2. 2.4.2  Traditional Neoclassical Growth Theory

  3. 2.4.3  Endogenous Growth Theory - -

2.5 Empirical Literature - - -

CHAPTER THREE: Research Methodology

  1. 3.1  Preamble - - -

  2. 3.2  Data Collection - -

  3. 3.3  Model Specification -

  4. 3.4  Justification of Variables -

  5. 3.5  Statistical Tests - -

3.5.1 The Coefficient of Determination (R2) -

3.5.2 The Correlation Coefficient (R) -

3.5.3 The F-Ratio Test -

3.5.4 The Student T-Test

3.6 Economic Tests -

3.6.1  Test for Stationarity

  1. 3.6.2  Cointegration Test -

  2. 3.6.3  Autocorrelation Test

  3. 3.6.4  Causality Test -

CHAPTER FOUR: Data Presentation and Analysis

  1. 4.1  Preamble - - - - - -

  2. 4.2  Data Presentation - - - - -

  3. 4.3  Analysis of Data and Interpretation of Results

  1. 4.3.1  Stationarity Test Result -

  2. 4.3.2  Cointegration Test Result

  3. 4.3.3  Regression Result (OLS) -

  1. 4.4  Testing of Hypotheses -

  2. 4.5  CausalityTest - -

  3. 4.6  Discussion of Results -

    CHAPTER FIVE: Summary, Conclusion and Recommendations

5.1 Summary - -

5.2Conclusion- -

  1. 5.3  Recommendations -

  2. 5.4  Contribution to Knowledge -

    References- - - -

    Appendices- - - -


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