© 2017. Babatunde Afolabi, Jonathan D. Danladi & Muhyideen I. Azeez. This is a research/review paper, distributed under the
terms of the Creative Commons Attribution-Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-
nc/3.0/), permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly
cited.
International Trade and Economic Growth in Nigeria
By Babatunde Afolabi, Jonathan D. Danladi & Muhyideen I. Azeez
Afe Babalola University, Ado Ekiti, Nigeria
Abstract- This study examined the impact of international trade on economic growth in Nigeria, with the
objective of identifying the major factors influencing economic growth through international trade and
make policy suggestions. This study made use of time series secondary data obtained from Central Bank
of Nigeria, National Bureau of Statistics and International Financial Statistics for a period between 1981
and 2014. Augmented Dickey-Fuller (ADF) test together with Phillip- Perron (PP) test of Unit Root Tests
were employed to ascertain the stationarity properties of the variables. The Ordinary Least Square (OLS)
technique was used to test for the significant relationship between the level of economic growth proxied
by GDP as dependent variable and exchange rate, government expenditure, interest rate, foreign direct
investment, import and export as independent variables. The result revealed that government
expenditures, interest rate, import and export are all positively significant while exchange rate and foreign
direct investment are negatively insignificant to the growth process of the Nigerian Economy.
Keywords: international trade, economic growth, interest rate and government expenditure.
GJHSS-E Classification: FOR Code: 910103, 910399
InternationalTradeandEconomicGrowthinNigeria
Strictly as per the compliance and regulations of:
Global Journal of HUMAN-SOCIAL SCIENCE: E
Economics
Volume 17 Issue 5 Version 1.0 Year 2017
Type: Double Blind Peer Reviewed International Research Journal
Publisher: Global Journals Inc. (USA)
Online ISSN: 2249-460x & Print ISSN: 0975-587X