scholarly journals Entrepreneurial Productivity: Sectoral Contribution To The GDP Of A Developing Economy

Author(s):  
Prince C. Nwakanma ◽  
Hudson Nwakanma ◽  
Gail Thompkins

Using macroeconomic data for the period 1992-2004, this paper applies Granger’s causality adjusted regression model to examine the sectoral contribution to the gross domestic product, as a proxy for entrepreneurial productivity in Nigeria. The study found that only agricultural production and industrial/service output Granger caused changes in GDP, whereas oil production, capacity utilization and non-oil exports had no causality with GDP. The study concludes that oil output and non-oil exports are not significantly contributing to the economy and manufacturing capacity is grossly underutilized. The study recommends increased promotion of non-oil export; an improved operating financial environment; and, greater Nigerian content in the oil sector for increased entrepreneurial productivity. 

2020 ◽  
Vol 2 (1) ◽  
pp. 15-23
Author(s):  
Lawali Bello Zoramawa ◽  
Machief Paul Ezekiel ◽  
Salisu Umar

The study assessed the contribution of the non-oil sector to the economic growth in Nigeria between the periods 1981 and 2019. The study employed the ARDL bound test for cointegration to analyze the direction among the variables under review. The results of the analysis revealed that there is a negative and statistically significant relationship between non-oil exports (NOE) and economic growth (RGDP) in Nigeria during the period under investigation in the long-run for Manufacturing (MANX), solid mineral(SOLX) except for Agricultural export (AGRX). There is also a bidirectional causal relationship between non-oil exports and economic growth in Nigeria during the same period. The study, therefore recommended that the Nigerian government and other stakeholders should make a country’s non-oil export commodities more attractive and competitive in the global market which will prompt the demand for Nigeria’s non-oil goods at the international market.  Keywords: Non-Oil exports, Economic Growth,


Significance In January, eastern-based military leader Khalifa Haftar forced the closure of oil export terminals in the Gulf of Sirte, causing oil production and exports to plummet by 80-90%. The retreat of Haftar’s forces from western Libya as units supporting the Government of National Accord (GNA) advance towards Sirte raises questions about how control of the hydrocarbons sector will evolve. Impacts Some increases in oil exports are likely, but they may be short-lived. If oil exports do not rise this year, fears of a budget crisis will grow. The NOC is unlikely to support the GNA trying to use more oil sector promises to mobilise international support, for example from Turkey.


2021 ◽  
Vol 4 (3) ◽  
pp. 39-64
Author(s):  
Chinyere F.E. ◽  
Samuel N.N. ◽  
Nkama O.N. ◽  
Chinwoke R.E.

Non-oil exports have been seen to be very vital in economic growth and development, especially for developing economics. Despite the poor contribution of non-oil exports to economic growth in Nigeria, this study is inspired by the inconsistencies in empirical findings regarding the connection and effect of non-oil exports on the economy. The objective of the study was to determine the effect of non-oil exports on economic growth in Nigeria. An ex-post facto research design was adopted. The time frame of thirty three (33) years, from 1986 to 2018 was adopted to allow for a large number of observations which will improve the robustness of the results. The data was obtained from the Central Bank of Nigeria (CBN) statistical bulletin of 2017. The Ordinary Least Square (OLS) estimation technique was applied in guesstimating the models. E – views 9.0 was the econometric software used for the analysis. The result revealed that non-oil exports have no significant effect on the growth rate of real gross domestic product, agricultural contribution to real gross domestic product is not significantly affected by exports of non-oil products even though there is evidence of a positive but insignificant correlation between them. Manufacturing capacity utilization is not significantly influenced by variation in Nigeria’s non-oil exports. Non-oil exports are positively associated with manufacturing capacity utilization. Economic growth in Nigeria has not been significantly affected by non-oil exports despite the various non-oil promotion strategies by the government. We recommend that cost and access to financial services for non-oil exporters be moderate or relaxed.


2021 ◽  
Author(s):  
Fakhri Hasanov ◽  
Fred Joutz ◽  
Muhammad Javid

The diversification of the non-oil sector, including its exports, is at the core of Saudi Vision 2030. This study investigates Saudi non-oil exports in a novel way. Specifically, it differs from previous studies on this topic owing to its modeling framework. This study’s modeling framework first estimates the non-oil export equation, which allows us to examine the historical impacts of theoretically articulated demand- and supply-side determinants on non-oil exports. This is done using Autometrics, a state-of-the-art algorithm for computer-automated model selection in the general-to-specific modeling strategy framework, with super saturation.


2020 ◽  
Vol 2 (4) ◽  
pp. 1-11
Author(s):  
Nwanneka Cynthia Ogunewe ◽  
Amalachukwu Ananwude ◽  
Dr Joseph Afamefuna Nduka

Purpose: This paper presents an analysis of the effect of non-oil exports on the manufacturing sector growth in an oil-rich country in Africa – Nigeria from 1986 to 2018. In clear terms, we evaluated how manufacturing sector capacity utilization is affected by non-oil exports. Methods: The Ordinary Least Square (OLS) estimation technique was applied in estimating the model and was lagged by two years. The long-run relationship was determined using the traditional Johansen co-integration methodology. How manufacturing sector growth is affected by non-oil exports was evaluated using the Granger Causality technique. The Augmented Dicky-Fuller (ADF) and Phillips-Perron tests were applied to check the stationarity properties of the data. Results: The growth in the manufacturing sector in Nigeria has not been significantly affected by non-oil export despite the various non-oil export promotion strategies initiated by the government. Implication: A major implication of the finding is that the cost and access to financial services for non-oil exporters should be reduced or relaxed by the Central Bank of Nigeria. High-interest rates charged by commercial banks and little disbursement characterized by the volume of commercial banks credit affect manufacturing firms concerning acquiring modern plants and machinery which results in a poor quality of non-oil exports.


2020 ◽  
pp. 33-41
Author(s):  
Ivan Zubar ◽  
Yuliia Onyshchuk

Purpose. The aim of the article is research of theoretical, organizational and economic aspects of functioning and effective development of farms for growing and processing of snails and substantiation of prospects of heliceculture as a branch of agriculture on the basis of analysis of world experience. Methodology of research. In the course of the research the methods of general scientific (analysis, synthesis, abstraction) and empirical methods (observations, questionnaires, conversations) of economic science are used, which are based on a systematic approach, which allowed to characterize the current state of production and export of heliceculture products, as well as identify key issues in this area of agricultural production. Findings. The concept of “heliceculture” is substantiated and its content is analysed in terms of prospects as a new direction of agricultural production. The historical genesis of the development of traditions of snail products consumption has been studied, as a result of which the first mentions in the history of Ancient Rome, as well as France and Italy have been revealed. An analysis of the dynamics and current state of development of domestic heliculture entrepreneurship, which showed a rapid increase in the number of snail farms and increasing exports of snails to Europe. An overview of the world market for edible snails is made, where there is a noticeable tendency to a gradual annual increase in the consumption of heliculture products. The key elements of the technological process of growing edible snails are analysed, which allowed to systematize a number of basic technological processes and to conclude about the complexity and complexity of this production. The commodity assortment of heliculture has been determined, which includes meat, caviar and snail secretion. The key advantages of Ukraine as a producer and exporter of heliculture products are highlighted, including the availability of labour, proximity to markets, high land supply and dissatisfaction with global demand for these products, which makes it significant for the development of heliculture as an agricultural production. The key problems that hinder the development of snail farming are summarized, namely: legislative unregulation, limited industrial production capacity, lack of diversified processing, limited information and scientific research. The key directions of development of the heliceculture industry are determined, among which: organization of production and marketing heliceculture cooperatives, provision of in-depth processing and year-round uninterrupted production, development of agro-tourism on the basis of snail farms. Originality. A systematic approach to clarifying the definition of “heliceculture” is proposed. On the basis of a thorough study of official statistical information on the state of production of snail products, the importance of heliculture as a promising area of agricultural production is substantiated. Practical value. The obtained research results can be used in the development of an effective concept for the development of the heliculture industry. Key words: heliceculture, heliceculture market, snail farming, small business, family farm.


Author(s):  
Edeh, Chukwudi Emmanuel ◽  
Obi, Cyril Ogugua ◽  
Mbaeri, Clara Ndidiamaka ◽  
Ebite Ogochukwu Njideka

The objective of the study is to examine the impact of FDI on exports in Nigeria for the period 1981-2018. Specifically, two linear equations were formulated to trace the impact of FDI on oil sector and non-oil sector. The explanatory variables in the study were exchange rate, GDP, degree of openness, FDI, and inflation. The ADF technique was used to test for the stationarity of the time series data. The results of the Error Correction models reveal that there is a positive and significant (P(FDI) = 0.000) relationship between FDI and oil export in Nigeria. One per cent increase in FDI leads to 0.47 per cent increase in oil export over the period under study. There is a positive and significant (P(FDI) = 0.005) relationship between FDI and non-oil export in Nigeria. One per cent increase in FDI leads to 0.31 per cent increase in non-oil export over the period under study. The impact of FDI on the oil export is higher than the non-oil sector by 0.16 per cent. The study recommends for more aggressive policies to attract FDI in the oil sector to be pursued by the government. Obstacles to doing business in Nigeria should be removed. KEYWORDS: Foreign direct investment, oil export, non-oil export


Author(s):  
S. A. Zolina ◽  
I. A. Kopytin ◽  
O. B. Reznikova

In 2018 the United States surpassed Saudi Arabia and Russia to become the largest world oil producer. The article focuses on the mechanisms through which the American shale revolution increasingly impacts functioning of the world oil market. The authors show that this impact is translated to the world oil market mainly through the trade and price channels. Lifting the ban on crude oil exports in December 2015 allowed the United States to increase rapidly supply of crude oil to the world oil market, the country’s share in the world crude oil exports reached 4,4% in 2018 and continues to rise. The U.S. share in the world petroleum products exports, on which the American oil sector places the main stake, reached 18%. In parallel with increasing oil production the U.S. considerably shrank crude oil import that forced many oil exporters to reorient to other markets. Due to high elasticity of tight oil production to the oil price increases oil from the U.S. has started to constrain the world oil price from above. According to the majority of authoritative forecasts, oil production in the U.S. will continue to increase at least until 2025. Since 2017 the tendency to the increasing expansion of supermajors into American unconventional oil sector has become noticeable, what will contribute to further strengthening of the U.S. position in the world oil market and accelerate its restructuring.  


2021 ◽  
pp. 4-8
Author(s):  
OTARI N. DIDMANIDZE ◽  

Determining the prospects for the development of the tractor fl eet in Russia and its supplying with power units is an important task in establishing a technological foundation to eff ectively tackle the problems of agricultural production. Taking into consideration the indicator of power supply in agriculture in the world’s economically developed countries, the authors consider the domestic needs in agricultural tractors and engines. As a result of the analysis, it is shown that the fl eet of agricultural tractors is at a low level of about 200 thousand units, and it requires further serious development. To ensure eff ective agricultural production, it is necessary to balance the level of farm tractor availability in Russia with that of economically advanced countries. The indicator of 4 kW/ha was taken as a promising level of tractor availability, and the required number of tractors was determined. The analysis was carried out for the cultivation of arable land in Russia with an area of 80 million hectares as of 2020 and amounted to about 2.5 million units for the entire range of agricultural tractors taking into account their traction class. To cultivate all arable areas in Russia, which amounted to about 120 million hectares in 1990, a third more equipment will be required. To maintain the tractor fl eet at this level, it is necessary to ensure an annual supply of at least 250 thousand units of various engines with a total capacity of at least 320 GW. This problem can be solved through increasing the production capacity of existing engine-building plants and designing new diesel engines for tractors of traction classes 0.6…1.4 with a capacity between 20 and 70 kW.


2018 ◽  
Vol 55 (3) ◽  
pp. NP1-NP2

Bader, Julia & Ursula E Daxecker (2015) A Chinese resource curse: The human rights effects of oil export dependence on China versus the United States. Journal of PeaceResearch 52(6): 774–790. DOI: 10.1177/0022343315593332 . Author note Our article uses trade data from COMTRADE to compare the human rights implications of oil exports to China versus to the United States from 1992 to 2010. Unfortunately, we made a mistake when merging the oil trade data for the USA. Oil trade data for the USA were erroneously based on a more inclusive commodity code categorization than what is described in the article, including not only crude petroleum oils and oils from bituminous minerals (HS92 classification, commodity code 2709), but also mineral fuels, oils, and products of their distillation (HS92 classification, commodity code 27). We apologize for this mistake. To assess the implications of this error, we have retrieved the correctly categorized data for the USA and replicated our analysis. Our results remain robust (see Table I corrected below). As in the article, we find a robust, negative effect of oil exports to the USA on exporter human rights. In contrast, exports to China have no effects on human rights. There is a small difference for results in Model 3, which interacts oil export variables with oil discoveries. This model now produces a positive and significant coefficient for exports to China in the absence of discoveries, but this finding is not inconsistent with the article’s claims regarding the potentially more benign effects of oil exports to China. [Table: see text]


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