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Manuscript_-_Empirical_evidence_of_a_long_run_relationship_between_Agriculture_and_Industry.pdf (405.2 kB)
Empirical evidence of a long-run relationship between agriculture and manufacturing industry output in Nigeria
This study investigates a relationship between agriculture and manufacturing industry output in Nigeria from 1982-2015, using the Granger causality, co-integration and error correction techniques. Empirical evidence reveals a bidirectional relationship between the sectors. Although, a positive and significant relationship exists in the short and long-run estimates, a long-run divergence from the vector error correction model suggest that changes in agricultural productivity are not restored to equilibrium, given that macroeconomic factors distort the linkage. Policy implications indicate that macroeconomic stability is a necessary condition for agricultural and manufacturing sectors to foster economic growth.
History
Declaration of conflicts of interest
No conflict of interestCorresponding author email
eze.osuagwu@covenantuniversity.edu.ngLead author country
- Nigeria
Lead author job role
- Higher Education Faculty 4-yr College
Lead author institution
Covenant University, NigeriaHuman Participants
- No
Ethics statement
In compliance with ethical standardsComments
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