Influence of Trade Liberalization on the Growth of Nigerian Economy: Autoregressive Distributed Lag Approach (Published)
This study examined the relationship between trade liberalization and economic growth proxied by gross domestic growth rate in Nigeria. The study specifically assessed whether there is a long run and short run causal relationship running from trade liberalization to economic growth in Nigeria. Trade liberalization was measured using trade openness, exchange rate, total import trade, total export trade and balance of trade. The data for the study were source from the CBN statistical bulletin for the period 1986 to 2014. The study used the Autoregressive Distributive Lag (ARDL) technique for data analysis. Findings from the analyses showed that trade liberalization has no long run causal relationship with gross domestic product growth rate in Nigeria. Also, trade openness and exchange rate have no short run causal relationship with gross domestic product growth rate in Nigeria. Lastly, total import trade, total export trade and balance of trade has short run causal relationship with gross domestic product growth rate in Nigeria. The study on the basis of these findings recommends the efficient use of total import trade, total export trade and balance of trade policy measures of trade liberalization in other to maximally benefit from trade liberalization.
This study examines empirically the relationship between Trade openness and Economic growth in Nigeria. The study covered the period 1990 – 2015, using ARDL approach to cointegration. The ARDL result confirmed the existence of a long-run relationship between Economic Growth, Trade Openness, Foreign Direct Investment and Gross Capital Formation. It was found that Trade Openness and Gross Capital Formation had positive and negative impacts respectively on growth rate of GDP in the short run. Therefore, this study concludes by recommending that; (i) trade openness should be regulated by government; from our result an increase in trade openness caused a decrease in our GDP (ii) FDI should be encouraged as it was seen to have significantly improved economic growth in Nigeria.
In light of the challenges set by the economic openness and foreign trade to the Jordanian economy, especially through the increasing competition for Jordanian products of goods and services with regional and global countries, it is necessary to activating the role of the Jordanian trade policy in order to make greater contribution to enhancing the competitiveness of the national economy. The objective of this research paper is to address the impact of import and export of Jordon on Gross Domestic Product growth (GDP) during the period 2000-2014 as the GDP at market price determines the import, export and openness of Jordan. Linear Regression analysis has been applied with GDP at market price and Import, export, trade and trade openness. The analysis shows that there is a statistically significant impact of export and import of goods and services, and on GDP growth of the economy. On the other hand the analysis shows no significant effect of trade openness on GDP growth rate due to trade deficit.