An Aggregate Import Demand Function for Nigeria: an Auto-Regressive Distributed Lag (ARDL) approach

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dc.contributor.authorEnglama, A.
dc.contributor.authorOputa, N. C.
dc.contributor.authorSanni, G. K.
dc.contributor.authorYakub, M. U.
dc.contributor.authorAdesanya, O.
dc.contributor.authorSani, Z.
dc.date.accessioned2018-03-26T09:01:02Z
dc.date.available2018-03-26T09:01:02Z
dc.date.issued2013-09
dc.description.abstractThe paper sought to examine the dynamics underlying the high import bills in Nigeria and proffered appropriate policy recommendations. In achieving this, the Autoregressive Distributed Lag (ARDL) technique was utilised to estimate the aggregate import demand function for Nigeria using the quarterly data covering the period 1970 to 2011. The paper found that the coefficients of external reserves, domestic consumer prices, level of income and exchange rate were all statistically significant, suggesting that these variables were important factors determining the level of imports in Nigeria. The short-run elasticity result revealed that Nigeria's aggregate demand for imports was both price and income elastic; implying that import demand would increase as the level of economic activity and domestic prices increased. Furthermore, the coefficient of the speed of adjustment revealed that it would take about 0.05 years for imports to respond to changes in any of the explanatory variables. The paper, therefore recommended appropriate fiscal policy measures to address the high level of consumer goods imports since it accounted for about 45.0 per cent of total imports between 2006 and 2011.en_US
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dc.description.provenanceMade available in DSpace on 2018-03-26T09:01:02Z (GMT). No. of bitstreams: 1 Pages from CBN EFR Vol 51 No 3 September 2013-2 A. Englama, N. C. Oputa, G. K .Sanni, M. U. Yakub, O. Adesanya, and, Z. Sani.pdf: 582979 bytes, checksum: 6d797b3207b9e4bd407659703a2cd2f5 (MD5) Previous issue date: 2013-09en
dc.description.sponsorshipCentral Bank of Nigeriaen_US
dc.identifier.citationEnglama, A., et al. (2013). An Aggregate Import Demand Function for Nigeria: an Auto-Regressive Distributed Lag (ARDL) approach. Economic and Financial Review, 51(3), 1–18.en_US
dc.identifier.issn1957-2968
dc.identifier.urihttp://repo.cbn.gov.ng/jspui/handle/123456789/139
dc.language.isoenen_US
dc.publisherResearch Department, Central Bank of Nigeria.en_US
dc.relation.ispartofseriesEconomic and Financial Review;Vol. 51 No. 3
dc.subjectImport demand,en_US
dc.subjectNigerian economy,en_US
dc.subjectInternational tradeen_US
dc.subjectTrade on investment,en_US
dc.titleAn Aggregate Import Demand Function for Nigeria: an Auto-Regressive Distributed Lag (ARDL) approachen_US
dc.typeArticleen_US

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