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An Analysis of Determinants of Cocoa Export Trade In Nigeria (1981 -2014): A Bounds Testing Approach
Authors(3) :-Binuomote S., O. T. Nnaomah, Togun O. M.
This study examined the determinants of cocoa export in Nigeria between 1980 and 2014 using Autoregressive Distributed Lags modeling approach to cointegration, with Secondary data spanning 1980 to 2014 on Nigeria’s value of cocoa beans exports, volume of cocoa beans exports, cocoa beans export, cocoa beans output, comparative export performance index for Nigeria in cocoa, world volume of cocoa bean export, exchange rate, price of crude oil, per capita income which were obtained various issues of CBN statistical bulletin, CBN annual reports and statement of account, statistical database of the Food and Agricultural Organization of the United Nations (FAOSTAT). The cointegration results show there is a long-run equilibrium relationship between cocoa export volume and the selected explanatory variables. The OLS results provide a positive and significant relationship between cocoa comparative export performance, and world export volume of cocoa. However, the results show an inverse relationship between cocoa export volume in Nigeria and per capita income, cocoa export price and price of crude oil. The findings of this study indicate that Nigeria has a comparative advantage in cocoa export. An enabling environment and farming- incentives supply created by Nigerian government and relevant export partners will go a long way in stimulating cocoa producers and also reposition Nigeria towards sustainable cocoa production and export in the country.
Binuomote S., O. T. Nnaomah, Togun O. M.
Export, Cointegration, Cocoa, Export price.
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Published in : Volume 1 | Issue 5 | November-December 2015
Date of Publication : 2015-12-30
License: This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 340-349
Manuscript Number : IJSRST162587
Publisher : Technoscience Academy
PRINT ISSN : 2395-6011
ONLINE ISSN : 2395-602X
Cite This Article :
Binuomote S., O. T. Nnaomah, Togun O. M., "An Analysis of Determinants of Cocoa Export Trade In Nigeria (1981 -2014): A Bounds Testing Approach", International Journal of Scientific Research in Science and Technology(IJSRST), Print ISSN : 2395-6011, Online ISSN : 2395-602X, Volume 1, Issue 5, pp.340-349, November-December-2015.
Journal URL : http://ijsrst.com/IJSRST162587