Estimation of Economic Growth using Export and Import Goods in Nigeria: A Kernel Regression Approach
- May 11, 2019
- Posted by: RSIS
- Category: Statistics
International Journal of Research and Scientific Innovation (IJRSI) | Volume VI, Issue IV, April 2019 | ISSN 2321–2705
Estimation of Economic Growth using Export and Import Goods in Nigeria: A Kernel Regression Approach
Adjekukor J. A.
Department of Statistics, Delta State Polytechnic, Otefe-Oghara, Delta State, Nigeria
Abstract: – This study employed the Kernel regression approach for reliable estimation of economic growth in Nigeria from 1989 to 2018 using the Kernel regression Approach. The study employed secondary source of data collection which was obtained from African Development Bank Group publication, 2018. The result of the kernel regression analysis found a residual standard error value of 37.399, R-square value of 0.8645 (86.5%), bandwidths of 8.316 and 5.071 for export and import goods respectively and a corresponding p-value of 0.00. Findings showed that export goods and import goods significantly impact positively on Economic Growth.
Keywords: Export Goods, Economic Growth, Import Goods, Kernel Regression
I. INTRODUCTION
Most government in the world are spending resources and time to efficiently grow various sectors of their economy. These governments have over the years keyed into varied economic measures and plan aimed at improving growth and development in their domestic economy. One way to come about these economic measures is by encouraging research in various sectors of the economy.
However, Economic Scholars in Nigeria have over the years been suggesting different model(s) for estimation economic growth in Nigeria. Some of these studies use export and import goods in estimating economic growth in Nigeria but the model obtained in some cases are not good estimators of the economic growth. Even, some of the studies considered partitioning export goods into oil export and non oil export (Ugwuegbe and Uruakpa, 2013). Exports of goods and services are part of important sources of foreign exchange revenue which eases pressure on the balance of payments and create employment opportunities, increase productivity and enhance the living standard of the citizenry (Ugwuegbe and Uruakpa, 2013).
