INDUSTRIALIZATION AND ECONOMIC GROWTH IN NIGERIA
Resumo
This study empirically evaluated the impact of industrialization on economic growth in Nigeria. Because of the link between industrialization and economic growth, both theoretical and econometric analysis were used to examine the contribution of industrialization to economic growth in Nigeria, using GDP as the dependent variable and crude petroleum and natural gas , manufacturing and solid mineral as independent variables from 1981-2013. The study adopted ordinary least squares (OLS) in formulating the model. The methods of analysis included, Augmented Dickey-Fuller (ADF) Unit Root test, Johansen Co-integration test and Error Correction Method (ECM). The results show that crude petroleum and natural gas, manufacturing and solid mineral, significantly contribute to economic growth. On power of the model is as high as 99%. The study recommends that creating a conducive environment to achieve strong performance of the industrial sector. Sustaining efforts at generating local materials for infant industries and support the campaign of local contempt initiative.
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