ABSTRACT
In recent decades, the main and potential contribution of agriculture to economic growth has been a subject of much controversy among development economists. Assome contend that agricultural development is a pre—condition forindustrialization, others strongly object it and argue for a different path. Takingadvantage of ordinary least square method (OLS), the research carried out bymeans of secondary data and using the, independent variables. Real grossdomestic product (RGDP), Agricultural Development (AGRO), Ination Rate(INF), Real Interest Rate (RIP) to re—examine the question of whether agriculturecould serve as an engine of Economic growth in Nigeria. The result obtained fromthe empirical analysis shows that the productivity in agricultural sector hasappreciably impacted positively on the economic growth in Nigeria during theperiod of 1980 to 2016.The study recommends the acceleration of agriculturaldevelopment to increase the agricultural output of Nigeria for greater prosperity.
TABLE OF CONTENTS
TITLE PAGE ..........................................................
vii
DECLARATION ...................................................................................................... ii
DEDICATION ......................................................................................................... iii
APPROVAL PAGE ................................................................................................. iv
ACKNOWLEDGEMENT ......................................................................................... v
ABSTRACT ............................................................................................................. vi
TABLE OF CONTENTS ........................................................................................ vii
CHAPTER ONE ...................................................................................................... 1
INTRODUCTION .................................................................................................... 1
1.1 Background to the Study .................................................................................. 1
1.2 Statement of the Problem ................................................................................. 5
1.3 Research Questions........................................................................................... 8
1.4 Objectives of the study ..................................................................................... 8
1.5 Scope and limitation of the Study .................................................................... 9
1.6 Significance of the study .................................................................................. 9
1.7 Organisation of chapters .................................................................................10
1.9 Definition of key terms and variables ............................................................11
CHAPTER TWO ...................................................................................................13
LITERATURE REVIEW AND THEORETICAL FRAMEWORK ................13
2.0 Introduction ....................................................................................................13
viii
2.1 Conceptual Clarifications ...............................................................................13
2.1.1 Agricultural Development: .............................................................................13
2.1.2 Economic Growth ........................................................................................16
2.1.3 Economic Development ..................................................................................18
2.2 Review of Theoretical Literature ...................................................................20
2.3 Review of Empirical Studies ..........................................................................25
2.4 Gap in the Literature Review .........................................................................28
2.5 Theoretical Framework ..................................................................................29
CHAPTER THREE ...............................................................................................32
METHODOLOGY.................................................................................................32
3.0 Introduction ....................................................................................................32
3.1 Description of the Study Area ........................................................................32
3.2 Sources and Methods of Data Collections .....................................................34
3.3 Model Specification ........................................................................................35
3.4 Technique of Analysis ....................................................................................36
3.5 Unit Root Test-------------------------------------------------------------------------------37
3.6 Expected Contribution to knowledge .............................................................38
CHAPTER FOUR ..................................................................................................39
DATA PRESENTATION, ANALYSIS AND INTERPRETATION ................39
ix
4.0 Introduction ....................................................................................................39
4.1 Data Presentation ............................................................................................39
4.2.1 Correlation Analysis .......................................................................................39
4.2.2 Unit Root Analysis ..........................................................................................40
4.2.3 Regression Analysis ........................................................................................42
4.2.4 Granger Causality Test ...................................................................................44
4.3 Discussion of Findings ...................................................................................47
CHAPTER FIVE ....................................................................................................49
SUMMARY, CONCLUSION AND RECOMMENDATION ...........................49
5.0 Introduction ........................................................................................................49
5.1 Summary of Major Findings ..........................................................................49
5.2 Conclusion ......................................................................................................50
5.3 Recommendations .........................................................................................51
REFERENCES .......................................................................................................52
APPENDIX I: DATA PRESENTATION ............................................................55