THE IMPACT OF IMPORT GROWTH ON THE DEVELOPMENT OF INDUSTRIAL SECTOR IN NIGERIA

Chikwuorji, Nnamdi I. THE IMPACT OF IMPORT GROWTH ON THE DEVELOPMENT OF INDUSTRIAL SECTOR IN NIGERIA. THE IMPACT OF IMPORT GROWTH ON THE DEVELOPMENT OF INDUSTRIAL SECTOR IN NIGERIA. (Unpublished)

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Abstract

ABSTRACT The study was undertaken to find out the impact of import growth on the development of industrial sector in Nigeria. The study adopted simple regression on the ordinary least square (OLS) regression technique. The sample size was taken from 1981 to 2015 (34 years). Consequently, secondary sources of data from the central bank of Nigeria (CBN) were used. The use of students’-test, f-ratio and Durbin western statistic was employed in finding out the empirical variability of the regression plans and testing the presence of autocorrelation respectively. In addition the coefficient of determination (r2) was used to test for goodness of fit. The researcher made the findings that the result shows a significant positive relationship between import growth and industrial sector output. A significant relationship is shown between exchange rate and industrial sector output, though positive and contrary to a priori expectation. the lag value of the dependent variable (indp (-1) is shown to have a significant positive relationship with economic growth. this also meets the priori expectation. the r2 value of 57.51% shows normal goodness of fit implying that the explanatory variables adequately explained the behaviour of the dependent variables. the study recommends as follows: the monetary authority should ensure stability of exchange rate in order to bring low cost of importation of essential raw-material for industries, policies are to be redirected by the policy maker in order to avoid the import of super-furious in the industrial sector. the financial authorities in Nigeria should specify guidelines that will increase credit accessibility for investment in the financial sector.

Item Type: Article
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Management and Social Sciences
Depositing User: Mr Nnamdi I. Chukwuorji
Date Deposited: 28 Sep 2018 12:50
Last Modified: 28 Sep 2018 12:50
URI: http://eprints.gouni.edu.ng/id/eprint/709

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