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Impact of international trade on the economy development of Nigeria

 Department: Economics  
 By: usericon Mattbeck  

 Project ID: 8130
   Rating:  (5.0) votes: 1
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   Price:₦5000
Abstract
This study investigates the impact of international trade on economic development in Nigeria, focusing on the period from 1980 to 2020. Utilizing econometric analysis, including unit root tests and Ordinary Least Square regression models, the research examines the relationship between key economic variables: Gross Domestic Product (GDP), Gross Capital Formation (GCF), trade openness (OPEN), interest rates (INT), population (POP) and inflation (INF). The study's objectives are to analyze the trends and patterns of international trade, evaluate its effects on economic growth, and determine its direction on overall economic development in Nigeria. The results indicate that while Gross Capital Formation and population growth have significant negative impacts on economic development, trade openness also exhibits a potential adverse effect at the 10% significance level. In contrast, inflation and interest rates do not show significant influences in the regression model. These findings suggest that to foster sustainable economic growth, Nigeria needs to diversify its investment strategies, enhance trade policies, implement effective population management measures, and maintain prudent economic policies. The study provides policy recommendations to address these critical areas, aiming to create a stable and conducive environment for Nigeria's economic progress...
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