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TRADE LIBERATION ON EXPORT GROWTH IN NIGERIA

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 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 56 ::   Attributes: Secondary Data Analysis ::   1,433 people found this useful
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CHAPTER ONE

                                INTRODUCTION:

1.1   BACKGROUND OF THE STUDY

Theorists of economics have over the years applied the principle of specialization and comparative advantage to the exchange of goods and services between countries in the form of theory of international trade. Economists since after the emergence of David Ricardo have also tried to provide answers to what determines which goods are traded and why some countries produce some goods while others produce different things.

According to Todaro (1994), economists have sought the answer in terms of international differences in production costs and the prices of different products. The theory of comparative advantage holds that the promotion of free international trade both maximizes global output and allows countries to escape from the confines of their resource endowments. The factor endowment theory by Heckscher-Ohlin also took into consideration the effect of differences in factor supplies (natural resources, labour and capital) on the specialization in international production.

These theories try to provide justifications for trade amongst countries of the world. Trade liberalization implies the reduction or complete removal of trade barriers by a country or countries involved in foreign trade.

There are so many forms of trade like; the transfer of technology, education flow and ideas sharing besides the trade in terms of commodities and countries impose various forms of restrictions or liberalization on these items depending on what such country wants to achieve.

The restrictive trade policies were embraced by most developing economies in their early drive for economic growth and development but most of them relaxed the policy and moved towards the liberalization of trade as the world moved towards globalization.

Very strong support exists in the literature of the argument that trade liberalization tends to stimulate economic growth and the existing literature support the positive relation between them (see Dornbush 1992; Krueger 1997). Empirical evidence from the Asian Tigers appeared to suggest that liberal trade policies are also growth-enhancing.

One of the broadly investigated relationships in development economics is the link between trade expansion (particularly exports) and economic growth. This is because there are various ways through which export expansion can generally contribute to increased economic growth.

According to Abdulai and Jaquet (2002), export growth may lead to increased scope of economies of scale. Economies of scale result from enlargement of market size due to efficient allocation of resources and competitiveness of exporting firms. Increased export also positively impact on aggregate output by relaxing foreign exchange constraint.

In a similar vein, Orubu, (1988) and Iyoha (1995) contend that export expansion leads to growth through the stimulation of technical change and investment or by demand spillover into other sectors of the economy.

1.2   STATEMENT OF THE PROBLEMS

Nigeria has gained very little from trade liberalization due to poor local capacity in the production of basic goods which trigger imports, depletes domestic financial resource and hampered economic growth thereby limiting export growth in Nigeria. Finally, several researches has been carried out on effect of trade liberalization on economic development in Nigeria, 1980-2013 but not even a single research has been carried out on trade liberalization on export growth in Nigeria.

1.3   AIMS AND OBJECTIVES

        The main aim of the study is to examine the effect of trade liberation on export growth in Nigeria. Other specific objectives of the study include;

  1. to determine the factors affecting trade liberation and its effect on export growth in Nigeria.
  2. to determine the effect of trade liberation on export growth in Nigeria.
  3. to determine the extent to which trade liberation affects export growth in Nigeria.
  4. to proffer possible solutions to the problems.
    1. RESEARCH QUESTIONS

1      What are the factors affecting trade liberalization and its effect on export growth in Nigeria?

2      What is the effect of trade liberalization on export growth in Nigeria?

3      What is the extent to which trade liberalization affects export growth in Nigeria?

4      What are the possible solutions to the problems?

1.5   STATEMENT OF RESEARCH HYPOTHESIS

HO:   Trade liberalization has no significant effect n export growth in Nigeria

HI:    Trade liberalization has a significant effect n export growth in Nigeria

1.6   SIGNIFICANCE OF THE STUDY

        The study on trade liberalization on export growth will be of immense benefit to the entire Nigeria in the sense that it will enable the government of the country to produce standard goods that will be appreciable not just within the home but in other countries as well which by so doing will generate great revenue to the country. Finally, the study will contribute to the body of existing literature and knowledge to this field of studies and basis for further research.

1.7   SCOPE OF THE STUDY

        The study on the trade liberalization on export growth is limited to Nigeria.

1.8   LIMITATION OF THE STUDY

Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.9   DEFINITION OF TERMS

Trade       Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money.

Export     An export in international trade is a good or service produced in one country that is bought by someone in another country.

Growth            The process of increasing in size.

Liberalization         Liberalization is any process whereby a state lifts restrictions on some private individual activities.


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Paper Information

Format:ms word
Chapter:1-5
Pages:56
Attribute:Secondary Data Analysis
Price:₦3,000
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