Open AccessImpact of Industrialization in Nigeria
Author(s) -
Aliya Zhakanova Isiksal,
Odoh John Chimezie
Publication year - 2016
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2016.v12n10p328
Subject(s) - agriculture , industrialisation , causality (physics) , developing country , economics , secondary sector of the economy , economic sector , agricultural economics , development economics , business , economic growth , geography , economy , market economy , physics , archaeology , quantum mechanics
The objective of this study is to analyze the relationship between GDP, agriculture (AR), industry (ID) and services sector (SV) in Nigeria. The Johansen co-integration testing approach demonstrates a significant long-run relationship between these three variables. The results reveal that agriculture, industry and services have a significant positive relationship with GDP. The Causality results demonstrate a bidirectional causal relationship between GDP, AR, ID and SV. It is suggested therefore that it is important to develop the agricultural sector to provide the needed support to the industrial and services sectors. Such a strategy can be expected to encourage the development and economic growth of a developing country.