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

Ebere Ume Kalu; Chuke E Nwude; Nwonye Nnenna

Authors

Ebere Ume Kalu
Chuke E Nwude
Nwonye Nnenna

Keywords:

economic growth; trade openness, model stability test, net export, gross domestic product

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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How to Cite

Does Trade Openness Engineer Economic Growth in Nigeria? (Empirical Evidence Covering 1991 to 2013). (2016). Global Journal of Management and Business Research, 16(14), 1-8. https://journalofbusiness.org/index.php/GJMBR/article/view/

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Author Biography

Chuke E Nwude

Dr. E. Chuke Nwude is a distinguished academic in the field of Banking and Finance, currently serving as a Lecturer and Head of Department at the University of Nigeria Nsukka, Enugu Campus. He holds a PhD and is an Associate Professor in Banking and Finance from the same institution. With a prolific research career, Dr. Nwude has authored 78 publications, amassing over 318 citations, and boasts an h-index of 10 and i10-index of 10. His notable works include studies on equity risk premiums in emerging markets, the impact of trade openness on economic growth in Nigeria, working capital management in the cement industry, and the predictive power of CAPM for Nigerian healthcare stocks. Dr. Nwude's research contributions are recognized through his ORCID and OpenAlex profiles, reflecting his expertise in financial economics and corporate finance.

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