Performance Evaluation of Foreign trade and Economic growth in Nigeria
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This book focuses on the workings of foreign trade on Nigeria economic growth. In carrying out this objective, linear multiple regression model analysis was used in assessing various components of foreign trade. Ordinary least square (OLS) technique was used as a medium to achieve this objective. Data used in this study were extracted from CBN statistical bulletin, golden jubilee edition. From the study, it was observed that export, import, and foreign exchange rate are all negatively related to real output of Nigeria with 19%, 8.7%, and 52% respectively and the adjusted R 2 is 71% for the per...
This book focuses on the workings of foreign trade on Nigeria economic growth. In carrying out this objective, linear multiple regression model analysis was used in assessing various components of foreign trade. Ordinary least square (OLS) technique was used as a medium to achieve this objective. Data used in this study were extracted from CBN statistical bulletin, golden jubilee edition. From the study, it was observed that export, import, and foreign exchange rate are all negatively related to real output of Nigeria with 19%, 8.7%, and 52% respectively and the adjusted R 2 is 71% for the period, 1970 to 2005. With this, it could be said that, foreign trade policies should be reexamined and competitive products should be produced by local industries.
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