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An econometric estimate of the non-oil export demand and supply functions for Nigeria 1970-93

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Authors

ORIMAYE, SUNDAY OLUMIDE
Departement of : Economic, University of Nigeria,Ibadan
DOI: https://doi.org/10.57054/codesria.pub.1234

Keywords:

Exports manufactured products mining econometric analysis export promotion export diversification agricultural exports Nigeria

Synopsis

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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  2. Ajilima, I and Agba, V.I. (1986) "The Second-Tier Foreign Exchange Market as a catalyst for Non-oil Exports" · Nigerian Journal of Economic and Social Studies, vol. 28 No.
  3. Balassa, B (1978) "Export and Economic Growth: Further Evider:ice" Journal of Development Economics, voL 5 No. 2.
  4. Ball, R.J., Eato~, J.R and Stevirer, M.D. (1966) ;'The Relatio.nshi~ between United Kingdom Export performance · in manufactures and the Internal Pressure of Demand,· Economic Journal, No 76. Sept, Bergstrom, A.R. (1955) "An Econometric Study of Supply and Demand: New Zealand's Exports" Econometrica, vol. 23 No. 3. ·
  5. Caves, R. (1970) "Export - Led Growth: The Post-war Industrial setting"; in Introduction to Trade and Growth, (ed). by Eltis, W.: Scott, M and Wolfe, J.N. (Oxford university Press, London).
  6. Central Bank c;>f Nigeria (CBN)
  7. Annual Reports, various issues
  8. Economic and Financial Indicators
  9. Statistical Bulletin, 1994 Da Costa, G.C. (1965) "Elasticities df Demand for Indian Exports: An Empirical Investigation" Indian Economic Journal, vol, 13. · ·
  10. Ekpo, A.H. and Egwaikhidie F.O'. (1994) "Export and Economic Growth in Nige.ria: A Reconsi.cferatioh of the Evidence" Journal of Economic Management· vol. 1. No.1
  11. Emery, R.F. (1967) "The Relation of Export and Economic Grc:iwth11 KYKLOS. vol. XX No. 2, .
  12. Essien, Effiong (1980)" Nigeria Under Structural Adjustment" (lbadan: · Fountain Publications).
  13. Fajana, 0. (1989) "Trade. and Growth: The Nigerian Experience" World Development.
  14. vol. 18 No. 2 (1986) "Governinent Policies and Appropriate Strategies.for increasing Non-oil
  15. Exports in Nigeria" In" production in the Nigerian Economy: The Performance of Non-oil
  16. Exports: proceedings of the onecday seminar organized by the Nigerian Economic society.

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Published

October 28, 1995

Language

English

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Dissertations
Copyright (c) 1995 CODESRIA Books Publication System

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Cite this book

APA OLUMIDE, O. S. (1995). An econometric estimate of the non-oil export demand and supply functions for Nigeria 1970-93. CODESRIA. https://doi.org/10.57054/codesria.pub.1234

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Chicago OLUMIDE, ORIMAYE, SUNDAY. An econometric estimate of the non-oil export demand and supply functions for Nigeria 1970-93. Dakar: CODESRIA, 1995. https://doi.org/10.57054/codesria.pub.1234.

MLA OLUMIDE, ORIMAYE, SUNDAY. An econometric estimate of the non-oil export demand and supply functions for Nigeria 1970-93. CODESRIA, 1995. https://doi.org/10.57054/codesria.pub.1234.

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