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Impact of Trade Openness on the Economic Growth of Nigeria

Impact of Trade Openness on the Economic Growth of Nigeria

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Reference ID: PS-8401-TM

DEDICATION

This research material titled “Impact of Trade Openness on the Economic Growth of Nigeria” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Industrial Relations and Personnel Management (IRPM), Book Authors and Profound Scholars of existing or related project material on “Impact of Trade Openness on the Economic Growth of Nigeria” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES


CHAPTER ONE

INTRODUCTION


    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    ABSTRACT

    The research evaluated the Impact of Trade Openness on the Economic Growth of Nigeria 1988-2014. The study employed secondary time series data, sourced from Central Bank of Nigeria Statistical Bulletin 2014. A four variable model was developed comprising GDP as dependent variable and Trade Openness, Foreign Direct Investment and Exchange rate as independent variables and the Ordinary Least Squares (OLS) estimation technique of Multiple regression analysis was adopted. The findings of the research work includes: Trade Openness has a negative impact on Economic growth, Economic growth causes Trade Openness.

    Based on the findings, the study amongst others recommends that The Government should analyse Export promotion policy and import substitution policy should also be examined, so that country can take benefit from trade. The fiscal authorities should boost exports, encourage domestic products by dropping Excise duties and tariffs so as to boost home industries to trade their goods and services, That structural trade oriented policy should be adopted to enhance economic growth in Nigeria via high exports flows in order to accumulate more foreign proceeds to boost output growth rate in Nigeria


    Impact of Trade Openness on the Economic Growth of Nigeria

    CHAPTER ONE


    Background of the study

    The global economy is in a state of transition from a set of strong national economies to a set of interlinked trading groups. This transition has accelerated over the past few years with the collapse of communism and the blending of the world trading nations into a single market (Gillespie, Jeannet and Hennessey ,( 2004) in Adelowokan and Maku(2013)). One of the most important paths driving global development into the twenty-first century is the advanced economic integration and investment.

    Never before have so many economies been open to global trade and finance flow than now, after the liberalization of the former communist economies (Adelowokan and Maku 2013). The relationship between trade and productivity has not been established theoretically even though some researchers have indeed found some, if not complete, support for the view that increasing openness has a positive impact on productivity (Osei,Cephas, and Shaik2012)

    The role of international trade is very crucial to the development of any economy and it is assumed that trade liberalization works as an engine for the growth of the economy.

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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