Analysis of the Determinants of Consumption in Nigeria: An Autoregressive Distributed Lag Approach.

Prof. Peter Siyan; Dr. Joseph M. Ibbih

Analysis of the Determinants of Consumption in Nigeria: An Autoregressive Distributed Lag Approach.

Prof. Peter Siyan * §

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Dr. Joseph M. Ibbih

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Nasarawa State University

Analysis of the Determinants of Consumption in Nigeria: An Autoregressive Distributed Lag Approach.

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Abstract

The need for economic theory to address the problem of unsustainable consumption patterns in a developing economy, Nigeria cannot be overemphasized. The literature suggests that present consumption patterns which use up economic resources beyond the capacity of the environment to replenish may make development unsustainable. This study analyzed consumption behavior vis-à-vis the factors that weakly or strongly influence consumption decisions. This key objective of this study is to establish the determinants of consumption among individual households in Agyaragu community of Nasarawa and by inference Nigeria. The study also investigated the extent to which consumption behavior of individuals supported the predictions of conventional models of consumption. A sample of 500 households was drawn from the community population of 22,750, with a response rate of 97%. The model employed alongside others is the Autoregressive Distributed Lagged (ADL) model. The results and findings revealed that individuals do not behave according to the baseline models of consumption. Consumption patterns favored non-durable consumption and necessities. The study recommended the model used in this study as a model of consumption that should incorporate the additional factors revealed by this study. The study, therefore, called for an economic policy and programme that will switch consumption away from non-durables to durables. This recommendation would enhance wealth creation, savings, investment and economic growth and development.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Prof. Peter Siyan, Dr. Joseph M. Ibbih. 2018. "Analysis of the Determinants of Consumption in Nigeria: An Autoregressive Distributed Lag Approach.". Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 18 (GJMBR Volume 18 Issue B2).

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GJMBR Volume 18 Issue B2

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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Classification

GJMBR-B Classification JEL Code: O10

Submission ReceivedDecember 8, 2017
Peer Review Double Blind
Handling Editor
Accepted January 3, 2018
Published January 15, 2018

Version of record

v1.2

Issue date

May 8, 2018

Language

English

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Article Matrices

Total Score: 154

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Dr. Joseph M. Ibbih, Prof. Peter Siyan (PhD/Dr. count: 1)

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