TRADE OPENNESS AND INDUSTRIAL OUTPUT GROWTH IN NIGERIA: EMPIRICAL LESSONS FOR DIVERSIFICATION
This study examines the relationship between trade openness and industrial output growth in Nigeria using time series data, endogenous growth framework as well as export-led growth model. The adopted framework contends that domestic policies on trade liberalization cannot be avoided but harnessed for optimal benefit of the economy. The empirical results show that trade openness contribute positively to industrial output growth and supports general economic diversification. In the short-run, the dynamic impact of trade openness on industrial output growth is insignificant while its long-run impact is significant.
 Ahmed, G., Arshad, K.M., and Afral, M. 2015. Trade liberalization and industrial productivity: Evidence from Pakistan. MPRA paper 70744.
 Ajakaiye, O., Jerome, D.N. and Alaba, O.A. 2016. Understanding the relationship between growth and employment in Nigeria. United Nations University, UNU-WIDER, 1-30 pp.
 Albaladejo, M. 2003. International realities in Nigeria: From bad to worse. QEH Working Paper Series-QEHWPS101.
 Briggs, I. 2007. Nigeria: Mainstreaming Trade Policy into National Development Strategies. African Trade Policy Centre Work in Progress No.52, Nairobi. Available at: www.uneca.org/atpc/work%20%progress/52.pdf=
 Caves, R.E. 1996. Multinational enterprise and economic analysis. 2nd edition. Cambridge: Cambridge University Press. ISBN: 0521478588, 9780521478588, 322 p.
 Dong-Hyeon, K. 2011. Trade, growth and income. The Journal of International Trade and Economic Development: An International and Comparative Review, 20(5): 677- 709.
 Dunning, J.H. 1981. Explaining the international direct investment position of countries: Towards a dynamic or developmental approach. Review of World Economics (Weltwirtschaftliches Archiv), 117 (1): 30-64.
 Mba, P.N. 2010. Foreign private investment, capital formation and economic growth in Nigeria. An unpublished M.sc thesis submitted to the Department of Economics, University of Nigeria, Nsukka.
 Njikam, O. 2009. Trade liberalization, infrastructure and industrial performance in Cameroon. Faculty of Economics and Management, University of Yaounde.
 Okoye, L.U., Nwakoby, C.I. and Okorie, E.U. 2016. Economic openness and industrial development in Nigeria. Journal of Policy and Development Studies, 10(1): 12-26.
 Onakoya, A.B., Fasanya, I., and Babalola, M.T. 2012. Trade openness and manufacturing sector growth: An empirical analysis for Nigeria. Mediterranean Journal of Social Science, 3(11): 637-646.
 Orji, A., and Mba, P.N. 2011. Foreign private investment, capital formation and economic growth in Nigeria: A two stage least square approach. Journal of Economics and Sustainable Development, 2(2): 14-27.
 Sheikh, S.A., Ahmed, S. 2011. Impact of trade liberalization and domestic economic reforms technical efficiency of agro based industries in Pakistan. International Journal of Business and Social Science, 2(23).
 Silajdzic, S., and Mehic, E. 2017. Trade openness and economic growth: Empirical evidence from transition economics. Management International Conference, Monastier di Treviso (Venice), Italy, 581-594 pp.
 Spiezia, V. 2004. Trade, foreign direct investment and employment: Some empirical evidence. In: Lee E. and Vivarelli M. eds. Understanding Globalization, Employment and Poverty Reduction. Palgrave Macmillan UK. ISBN: 978-1-4039-4149-7, 389 p.
 Ulaşan, B. 2015. Trade openness and economic growth: Panel evidence. Applied Economics Letters, 22(2): 163-167.
 Umoru, D., and Eborieme, M. 2013. Trade liberalization and industrial growth in Nigeria. Journal of Poverty, Investment and Development, 1: 148-156.
 Verick, S. 2006. The impact of globalization on the information sector in Africa. Economic and Social Policy Division, United Nations Economic Commission for Africa (ECA) and institute for the study of Labor (IZA). Available at: https://www.researchgate.net/publication/255606611_The_Impact_of_Globalization_on_the_Informal_Sector_in_Africa
The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.