An econometric estimate of the non-oil export demand and supply functions for Nigeria 1970-93
Keywords:
Exports, manufactured products, mining, econometric analysis, export promotion, export diversification, agricultural exports, NigeriaSynopsis
This work was inspired by the failure of Nigeria's tradeable non-oil exports to respond to
the various promotional measures adopted by the government in the effort to diversify the
economy. We believe that there is need to properly understand the operation of the external
sector. Hence, this study attempts an investigation of the behavior of Nigeria's aggregate non-oil
exports.
We used two models. Orie, a contemporaneous equilibrium model and the other makes
allowance for three years lag in relative prices.
We found out that relative price of non-oil exports, income of trading partners, and·
domestic demand are weak determinants of Nigeria's non-oil exports. We adduced reasons for
this result based on the conditions in the Nigerian economic environment and those of the trading
partners.
The study cautions on relying on the market forces for the development of non-oil exports,
advised an improvement in product quality, and stressed the need to secure new markets among
the less developed countries.
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References
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Published
October 28, 1995
Series
Copyright (c) 1995 CODESRIA Books Publication System
