Does Trade Openness Engineer Economic Growth in Nigeria? (Empirical Evidence Covering 1991 to 2013)

Ebere Ume Kalu; Chuke E Nwude; Nwonye Nnenna

Does Trade Openness Engineer Economic Growth in Nigeria? (Empirical Evidence Covering 1991 to 2013)

Ebere Ume Kalu * §

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E. Chuke Nwude

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Nwonye Nnenna

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University of Nigeria, Nigeria

Does Trade Openness Engineer Economic Growth in Nigeria? (Empirical Evidence Covering 1991 to 2013)

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Abstract

This study examined whether trade openness engineers economic growth in Nigeria. The motivation stems from evaluating whether there is a significant contribution from trade openness proxied by net export (NEXP) to economic growth in Nigeria (GDP). The study employed the Classical Linear Regression Model (CLRM) using secondary data from 1991 to 2013. The ordinary Least Square Regression method represents the principal method of estimation combined with an array of other general/standard and diagnostic tests. The R2 explains that 97.7% of variation in GDP in the model is explained by the principal regressors. Export was found to be a positive and significant function of GDP but Import was positive and non-significant. This is consistent with theory as economies grow from exporting more than they import all things being equal.

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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

Ebere Kalu, Chuke Nwude, Nwonye Nnenna. 2016. "Does Trade Openness Engineer Economic Growth in Nigeria? (Empirical Evidence Covering 1991 to 2013)". Global Journal of Management and Business Research, Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 16 (GJMBR Volume 16 Issue B4).

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GJMBR Volume 16 Issue B4

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-B Classification JEL Code: A10

Submission ReceivedDecember 11, 2015
Peer Review Double Blind
Handling Editor
Accepted January 2, 2016
Published January 15, 2016

Version of record

v1.2

Issue date

May 21, 2016

Language

English

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Article Matrices

Total Score: 150

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Ebere Ume Kalu, Chuke E Nwude, Nwonye Nnenna (PhD/Dr. count: 0)

View Count (all-time): 281

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Publish Date: 2016 01, Fri

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