ABSTRACT
The fact that developing countries are highly dependent on external sources for growth and development, trade in this view is then recognized as a vital catalyst in their development process. The study examines the impact of foreign trade on economic growth in Nigeria between 1980-2010, by looking at the review of Nigeria’s trade policy. The main objectives of this study is to analyse the contributions of export and import trade to the Nigeria’s economic growth, by analyzing and also looking at the trend, direction of trade in Nigeria. Moreso, the study also shows some of the positive actions initiated by the government towards the rapid growth and development of foreign trade in Nigeria.Data were gathered from CBN Journals, magazines, statistical bulletin of National Bureau of Statistics etc. Quantitative method of multiple regression analysis were used to determine the impact of foreign trade on Nigeria’s economic growth using the Ordinary Least Square (OLS) to estimate the variables used.The regression revealed that there is a direct relationship between dependent variable (GDP) as an increasing function of export value and import value. In all, it is observed that the explanatory variables i.e export and import value have direct impact on Gross Domestic Product(GDP). Finally, through the concerted efforts of all the parties involved, economic growth and development is realizable.
TABLE OF CONTENTS Page
CERTIFICATION………………………………………….. i
DEDICATION……………………………………………… ii
ACKNOWLEDGEMENT…………………………………… iii
ABSTRACT…………………………………………………. iv
CHAPTER ONE
1.0 INTRODUCTION……………………………………
1.1 BACKGROUND TO THE STUDY……………………
1.2 STATEMENT OF THE PROBLEM…………………..
1.3 JUSTIFICATION OF THE STUDY………………………
1.4 OBJECTIVES OF THE STUDY…………………………..
1.5 RESEARCH HYPOTHESIS…………………………….
1.6 SCOPE OF THE STUDY……………………..
1.7 ORGANISATION OF THE STUDY………………………………..
CHAPTER TWO
2.0 THEORETICAL REVIEW
2.1.1 MERCANTILIST TRADE THEORY
2.1.2 ABSOLUTE ADVANTAGE TRADE THEORY
2.1.3 COMPARATIVE ADVANTAGE THEORY
2.1.4 FACTOR ABUNDANCE THEORY
2.1.5 NEW TRADE THEORY
2.2 LITERATURE REVIEW
2.2.1 EMPIRICAL LITERATURE SUMMARY
2.2.2 TRADE POLICIES AND FOREIGN TRADE IN NIGERIAN CONTEXT
CHAPTER THREE
3.0 THEORETICAL FRAMEWORK
3.1 INTRODUCTION
3.2 METHODOLOGY
3.2.1 MODEL SPECIFICATION
3.2.2 MODEL DEFINITION
3.2.3 MODEL EVALUATION
3.2.4 ASSUMPTIONS OF OLS
3.2.5 APRORI EXPECTATION OF THE MODEL
3.3 SOURCES OF DATA
CHAPTER FOUR
4.0 DATA ANALYSIS
4.1 INTERPRETATION OF RESULTS
4.2 TEST OF SIGNIFICANCE
4.3 DURBIN- WATSON (D.W) TEST
CHAPTER FIVE
5.0 SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 RECOMMENDATION
5.2 SUMMARY AND CONCLUSION