The Role of Factor Inputs and Exports in Nigeria’s Long-Term Growth Performance

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منو

" The Role of Factor Inputs and Exports in Nigeria’s Long-Term Growth Performance "
Okafor, Chukwuemeka Cyprian Nell, Kevin

Document Type	:	Latin Dissertation
Language of Document	:	English
Record Number	:	1056465
Doc. No	:	TL55582
Main Entry	:	Okafor, Chukwuemeka Cyprian
Title & Author	:	The Role of Factor Inputs and Exports in Nigeria’s Long-Term Growth Performance\ Okafor, Chukwuemeka CyprianNell, Kevin
College	:	University of Johannesburg (South Africa)
Date	:	2019
Degree	:	M.Phil.
student score	:	2019
Note	:	55 p.
Abstract	:	The objective of this study is to empirically analyse the role of factor inputs and non-oil exports on Nigeria’s long-run economic performance over the period 1970-2014. The study adopts, as its basic theoretical framework, an augmented version of Solow’s (1956) model, which includes both human and physical capital as well as non-oil exports as a determinant of total factor productivity (TFP). This study contributes to the existing literature on Nigeria by using a returns-adjusted educational variable as a proxy for human capital, while physical capital accumulation is proxied by a capital stock per worker variable. It is argued that these proxies for factor accumulation may provide more robust results compared to previous studies. The main findings show that human capital accumulation is a key determinant of Nigeria’s long-run growth and development performance. In contrast, the long-run effect of physical capital accumulation is negative and statistically significant, while the long-run effect of non-oil exports is statistically insignificant. The main findings suggest that policy makers should allocate a much larger fraction of their budget to educational expenditure. In addition, oil windfalls should be reallocated to productive manufacturing firms to ensure that physical capital contributes positively to productivity growth. These measures may also help the Nigerian economy to boost non-oil exports in a significant way.
Descriptor	:	Economic theory
	:	Economics
	:	International trade
Added Entry	:	Nell, Kevin
Added Entry	:	University of Johannesburg (South Africa)