Analysis of the impact of globalization on Nigerian agricultural output
| dc.contributor.author | MO Adewumi, SA Salau, OE Ayinde, Ayodele Jimoh | |
| dc.date.accessioned | 2024-08-05T06:25:36Z | |
| dc.date.available | 2024-08-05T06:25:36Z | |
| dc.date.issued | 2007 | |
| dc.description.abstract | This study provides an empirical evidence on the impact of globalization on Nigeria’s Agricultural output and also highlights the implications for rural development. The data used covered 1981 – 2000 and were obtained from secondary sources. The descriptive and multiple regression analyses were used to ascertain the extent and direction of relationship between Agricultural production in Nigeria and openness, GDP growth rate, inflation rate and population growth rate. The study revealed that agricultural share of the GDP was highest (41.00 percent) in the first quarter of liberalization. The crop sub sector remained the dominant contributor to agriculture’s share of GDP, followed by livestock, fishery and forestry in that order. The study revealed that the economy is still mono-dominated by the oil sector. The study revealed that about 60 percent of the variation in the ratio of agriculture to GDP was explained by degree of openness or globalization, exchange rate and inflation. These three explanatory variables are negatively related to the ratio of agriculture to GDP. The study revealed that it is unlikely for Nigeria to be fully integrated into the global economy given its peculiar features and state of the economy. Nigeria cannot afford to fully liberalize trade in the face of poor export performance. Nigeria has to restructure her economy, liberalize, deregulate and democratize her institutuions. This calls for a redefinition of the government roles,and liberaqlization of the private sector which is at the center of globalization. The government are to provide the basic infrastructure especially in the rural areas, efficient and transparent administration, good governance friendly investment environment, macro-economic and political stability and level playing ground for economic activities in order to realize the positive impact of globalizsation on Nigerian agricultural output and the diversification drive of the economy. | |
| dc.identifier.citation | 1 | |
| dc.identifier.uri | https://kwasuspace.kwasu.edu.ng/handle/123456789/2171 | |
| dc.language.iso | en | |
| dc.publisher | European Journal of Social Sciences | |
| dc.title | Analysis of the impact of globalization on Nigerian agricultural output |