International Trade Dynamism and Nigeria Economic Development (Published)
This study examines international trade dynamism and Nigeria economic development; Secondary data collected from Central Bank of Nigeria 2020 were analysed using Auto-regressive distributed lag (ARDL) and the unit roots test found to be stationary at levels and first difference. The results revealed long run relationship between the dependent and independent variables as inflation, bank lending rate, and foreign exchange rate and trade openness have negative co-efficient, the f-statistics of bound test, 11.9 is greater than the upper and lower bound. In the short run export, Balance of Trade (BOT) and import have negative coefficient and significance except import which is insignificant. Other variables have positive coefficient and are insignificant. Nigerians should refrain from the excessive consumption of imported goods and produce more exportable goods. The manufacturing industries should produce goods that can compete favourably in world market. These actions would improve the country’s Balance of Trade position.
Citation: Adejuwon, Joshua Adewale, Ojomolade, Dele Jacob,, Ugwulali, Ifeanyi Joseph (2021) International Trade Dynamism and Nigeria Economic Development, European Journal of Accounting, Auditing and Finance Research, Vol.9, No. 8, pp.44-56
Keywords: Economic Development, Exports, International Trade, balance of payments