ECONOMIC GROWTH, OIL RENT AND AGRICULTURAL VALUE-ADDED NEXUS IN NIGERIA: AN EMPIRICAL EVIDENCE

Authors

  • SUNDAY OSAHON IGBINEDION Department of Economics, Faculty of Social Sciences University of Benin, Edo State
  • HUSSAINKEHINDE OGUNBADEJO Nigerian Institute for Oceanography & Marine Research, Victoria Island Lagos
  • AISHA ARAMA ZUBAIR Department of Economics, Kogi State University, Anyigba, Kogi State, Nigeria

Keywords:

Agriculture, Economic growth, Granger Causality, Vector error correction model (VECM)

Abstract

Agriculture is known as the engine and panacea for economic growth in most developing nations of the world. The objective of this study is to investigate the direction of causality among economic growth, oil rent and agriculture value-added in Nigeria. In addition, analyzing the interrelationship between economic growth and agriculture added value. The data used is time-series data in the period 1970-2020 obtained from world development indicators from the World Bank database. The analytical approach used is causality with the vector error correction model (VECM) and Granger Causality test. The finding of this study, in the agricultural added value equation indicates the validity of the long and short-term equilibrium relationship between variables, there is long and short-term causality in the direction of economic growth, oil rent on agriculture added value.

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Published

2022-06-26

How to Cite

IGBINEDION, S. O., HUSSAINKEHINDE, O., & AISHA, A. Z. (2022). ECONOMIC GROWTH, OIL RENT AND AGRICULTURAL VALUE-ADDED NEXUS IN NIGERIA: AN EMPIRICAL EVIDENCE. JOURNAL OF ECONOMICS AND ALLIED RESEARCH, 7(2), 1–15. Retrieved from http://jearecons.com/index.php/jearecons/article/view/195

Issue

Vol. 7 No. 2 (2022): June

Section

Articles