IJPSS Volume 3, Issue 12 ISSN: 2249-5894
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A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories
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International Journal of Physical and Social Sciences
http://www.ijmra.us
99
December
2013
AN EMPIRICAL ANALYSIS OF GLOBALIZATION AND
NIGERIA’S ECONOMIC GROWTH (1981-2011)
Samson Adeniyi Aladejare
Gisaor, Vincent Iorja*
Ojiya, Emmanuel Ameh*
ABSTRACT
The research investigated the impact of globalization proxied by the degree of openness on
economic growth in Nigeria proxied by the growth rate of GDP between 1981 and 2011. Using
Nigerian data and OLS simple regression analysis complemented by unit root stationarity test,
Johansen cointegration and Vector Autoregression test, the coefficient of the openness indicator
was negative hence violated the a priori expectation. This was because; the level of trade in
Nigeria was below the minimum threshold needed for the coefficient to be positive. Based on this
premise, the H
o
was accepted that globalization has had no serious impact on Nigeria’s
economic growth. Recommendations made include improvement in the productive capacity of the
country, tackling the security challenges to pave way for FDI inflows into the country and
diversification of the mono-cultural nature of the Nigerian economy.
KEYWORDS: Globalization, Cointegration, Economic Growth, Development, Nigeria
Department of Economics, Federal University, Wukari