- Tytuł:
- Modeling the Impact of Agriculture, Export Earnings and Inflation on Gross Domestic Product Using the Generalized Least Square (GLS) Approach
- Autorzy:
-
Akpensuen, Shiaondo Henry
Joel, Simon
Alhaji, Abdullahi Gwani - Powiązania:
- https://bibliotekanauki.pl/articles/1059403.pdf
- Data publikacji:
- 2019
- Wydawca:
- Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
- Tematy:
-
Agriculture
Export Earnings
Gross Domestic Product (GDP)
Inflation - Opis:
- The paper explored the impact of Agriculture, export earnings and inflation on gross domestic product (GDP). Time series data were obtained from the central bank of Nigeria statistical bulletin from 1981 to 2018. Each series consist of 38 observations. Evidence from our study showed that the predictor variables (Agriculture, export earnings and inflation) were significantly joint predictors of Gross Domestic Product. The predictor variables jointly explained 68.958% of GDP. Result of the analysis also revealed that both agriculture and export earnings have a positive impact on gross domestic product reaffirming the importance of the sectors to economic growth while inflation has a negative impact on gross domestic product. With evidence that agriculture has the potential to cause economic growth, spur industrialization as well as to enhance the living condition of the nation’s majority, there should be increased investment in the development of the sector. This study also revealed that inflation is detrimental to sustainable economic growth in Nigeria. The result has important policy implications for both domestic policy makers and development partners. It also implies that controlling inflation is a necessary condition for promoting economic growth. Thus, policy makers should focus on maintaining inflation at a low rate probably single digit.
- Źródło:
-
World Scientific News; 2019, 134, 2; 326-334
2392-2192 - Pojawia się w:
- World Scientific News
- Dostawca treści:
- Biblioteka Nauki
Artykuł