ABSTRACT
The fact that developing countries are highly dependent on external sources for growth and development, trade in this view is then recognized as a vital catalyst in their development process. The study examines the impact of foreign trade on economic growth in Nigeria between 1980-2010, by looking at the review of Nigeria’s trade policy. The main objectives of this study is to analyse the contributions of export and import trade to the Nigeria’s economic growth, by analyzing and also looking at the trend, direction of trade in Nigeria. Moreso, the study also shows some of the positive actions initiated by the government towards the rapid growth and development of foreign trade in Nigeria.Data were gathered from CBN Journals, magazines, statistical bulletin of National Bureau of Statistics etc. Quantitative method of multiple regression analysis were used to determine the impact of foreign trade on Nigeria’s economic growth using the Ordinary Least Square (OLS) to estimate the variables used.The regression revealed that there is a direct relationship between dependent variable (GDP) as an increasing function of export value and import value. In all, it is observed that the explanatory variables i.e export and import value have direct impact on Gross Domestic Product(GDP). Finally, through the concerted efforts of all the parties involved, economic growth and development is realizable.
TABLE OF CONTENTSPage
CERTIFICATION………………………………………….. i
DEDICATION……………………………………………… ii
ACKNOWLEDGEMENT…………………………………… iii
ABSTRACT…………………………………………………. iv
CHAPTER ONE
1.0 INTRODUCTION……………………………………
1.1 BACKGROUND TO THE STUDY……………………
1.2 STATEMENT OF THE PROBLEM…………………..
1.3JUSTIFICATION OF THE STUDY………………………
1.4OBJECTIVES OF THE STUDY…………………………..
1.5RESEARCH HYPOTHESIS…………………………….
1.6SCOPE OF THE STUDY……………………..
1.7ORGANISATION OF THE STUDY………………………………..
CHAPTER TWO
2.0 THEORETICAL REVIEW
2.1.1MERCANTILIST TRADE THEORY
2.1.2ABSOLUTE ADVANTAGE TRADE THEORY
2.1.3COMPARATIVE ADVANTAGE THEORY
2.1.4FACTOR ABUNDANCE THEORY
2.1.5NEW TRADE THEORY
2.2LITERATURE REVIEW
2.2.1 EMPIRICAL LITERATURE SUMMARY
2.2.2 TRADE POLICIES AND FOREIGN TRADE IN NIGERIAN CONTEXT
CHAPTER THREE
3.0THEORETICAL FRAMEWORK
3.1INTRODUCTION
3.2METHODOLOGY
3.2.1MODEL SPECIFICATION
3.2.2MODEL DEFINITION
3.2.3MODEL EVALUATION
3.2.4ASSUMPTIONS OF OLS
3.2.5APRORI EXPECTATION OF THE MODEL
3.3 SOURCES OF DATA
CHAPTER FOUR
4.0 DATA ANALYSIS
4.1INTERPRETATION OF RESULTS
4.2TEST OF SIGNIFICANCE
4.3DURBIN- WATSON (D.W) TEST
CHAPTER FIVE
5.0 SUMMARY, CONCLUSION AND RECOMMENDATION
5.1RECOMMENDATION
5.2SUMMARY AND CONCLUSION