ECONOMETRIC ANALYSIS OF EXPORTS AND ECONOMIC GROWTH IN NIGERIA

There is no consensus in the empirical literature on the causal links between exports and economic growth. This paper therefore examines the applicability of the Export-Led Growth hypothesis for Nigeria using annual secondary time series data from 1970-2010. The estimation results obtained from the cointegration test and Granger Causality test within the framework of a VAR model did not support the Export-Led Growth hypothesis for Nigeria. The paper concludes that government must diversify the product base of the economy, promote non-oil exports, and build up an efficient service infrastructure to drive private domestic and foreign investment