期刊名称：International Journal of Development and Sustainability
印刷版ISSN：2186-8662
出版年度：2014
卷号：3
期号：9
页码：1822-1835
出版社：International Society for Development and Sustainability (ISDS)
摘要：This study examines balance of payments constrained growth in Nigeria. In this context, our analysis is based on the theoretical underpinningsof the Original and Expanded Thirlwall's model derived from the Harrods Foreign Trade Multiplier. Instructively, Nigeria has witnessed prolonged balance of payments problem, which has resulted to serious macroeconomic imbalances, and hence generated problems of economic development. This paper adapts the Ordinary Least Squares (OLS) econometric technique to analyze empirical data, which has been first examine for unit roots using the Augmented Dickey Fuller (ADF) and Phillips-Perron (PP) tests. Thus, a co-integration regression has been used to examine the long run relationship among the variables. Also the short-run Vector Error Correction model is used to determine the speed of the adjustment to equilibrium. In this context of analysis, the results show that, all the variables in the model contributed 71 per cent to changes in economic development. Hence, to stimulate economic growth and sustainable economic development, Nigeria must reduce the demand for imports and increase the supply for exports, through balance of payments constraint alleviating strategies, such as export-based growth policy.
关键词：Economic growth in Nigeria; Balance of payments constraints; Thirlwall model for developing countries
