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Globalization and Sectoral Growth in Nigeria: A Vector Autoregressive Analysis

James Kelechi O. (PhD), Longtei Henry M. (PhD)

Abstract

The main focus of this study is to analyze the relationship between globalization and sectoral outputs in the Nigerian economy. The study used time series data from 1981-2019 which were sourced from central bank of Nigeria statistical bulletins and the KOF global index. Data was analyzed using the vector autoregressive model. The results of the study indicate that a long run relationship exists between agric sector GDP and globalization. Also a unidirectional causality exists from globalization to industry. The study thus recommends that in making agric sector policies considerations must be given to relative effects such policies will have in the industrial and services sector. Furthermore, Nigeria should constantly monitor trends of globalization and adopt its positives since it has a long run effect on the industry and services sector of the Nigerian economy.

Keywords

Globalizationsectoral growthvector autoregressive analysis

References

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