Bringing Local Food to Global Market: A Food Technology Perspective

It has been observed that export promotion drive boosts economic growth of developing countries (Nigeria inclusive) through the multiplier effects that the income earned from exports has on the economy. Prior to the discovery of oil, agriculture has been the main contributor to the Nigerian external...

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Bibliographic Details
Published in:IOP conference series. Earth and environmental science 2019-09, Vol.309 (1), p.12002
Main Authors: Munarso, SJ, Mulyawanti, I
Format: Article
Language:English
Subjects:
Agricultural economics
Agricultural exports & imports
Agricultural production
Dependent variables
Developing countries
Economic conditions
Economic development
Economic growth
Economics
Exports
Food technology
GDP
Global marketing
Gross Domestic Product
Impact analysis
LDCs
Citations: Items that this one cites
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Summary:It has been observed that export promotion drive boosts economic growth of developing countries (Nigeria inclusive) through the multiplier effects that the income earned from exports has on the economy. Prior to the discovery of oil, agriculture has been the main contributor to the Nigerian external sector. It is in the light of this that this study sets out to examine the impact of agricultural export on Nigeria's economic growth. This study used the Autoregressive Distribution Lag (ARDL) econometric technique to analyze the long run relationship and the impact of agricultural exports on Nigeria's economic growth. Economic growth is the dependent variable, and is proxied by the real gross domestic product, the explanatory variables include: agricultural export, foreign direct investment, inflation rate and the labour force. The results from the ARDL technique revealed that agricultural exports significantly affect Nigeria's economic growth; this suggests that, a 1percent increase in - agricultural export will boost economic growth in Nigeria by approximately 25percent.Therefore, from the results, the study recommended that agricultural export need to be promoted through the increase in agricultural production base.
ISSN:1755-1307
1755-1315
DOI:10.1088/1755-1315/309/1/012002