Structural Change and Economic Growth in Nigeria
This study investigates structural change and growth nexus in Nigeria using data on value-added shares in agriculture, manufacturing and the service sectors for the period from 1980 until 2021. A bivariate autoregressive distributed lags (bivariate-ARDL) model is employed for the empirical analysis. ARDL model is a single-equation model that has been used for decades in modelling the relationship between time series variables. The results show that structural change statistically significantly affects economic growth in Nigeria over the sample periods. Thus, the study recommends that government policies that drive structural change in the three sectors, agriculture, manufacturing and services must be encouraged in order to continue to grow the economy.
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