Impact of international trade on the economy development of Nigeria Department:Economics By: Mattbeck Project ID: 8130 Rating: (5.0) votes: 1 Price:₦5000 Get the Complete MaterialAbstractThis study investigates the impact of international trade on economic development in Nigeria, focusing on the period from 1980 to 2020. Utilizing econometric analysis, including unit root tests and Ordinary Least Square regression models, the research examines the relationship between key economic variables: Gross Domestic Product (GDP), Gross Capital Formation (GCF), trade openness (OPEN), interest rates (INT), population (POP) and inflation (INF). The study's objectives are to analyze the trends and patterns of international trade, evaluate its effects on economic growth, and determine its direction on overall economic development in Nigeria. The results indicate that while Gross Capital Formation and population growth have significant negative impacts on economic development, trade openness also exhibits a potential adverse effect at the 10% significance level. In contrast, inflation and interest rates do not show significant influences in the regression model. These findings suggest that to foster sustainable economic growth, Nigeria needs to diversify its investment strategies, enhance trade policies, implement effective population management measures, and maintain prudent economic policies. The study provides policy recommendations to address these critical areas, aiming to create a stable and conducive environment for Nigeria's economic progress...Preview Download Preview +Other Economics project topics and materials you might be interested in»The impact of industrialization on Nigeria's economic development»The impact of minimum wage fluctuation on growth of Nigerian economy»Population growth and economic development in Nigeria (1981-2011)»The impact of population growth on the Nigerian economy (1980-2010)»The impact of petroleum subsidy on the consumption of petroleum products in Nigeria»The impact of small and medium scale industries on the economic growth of Nigeria (1986 – 2010)»The impact of industrial output on the economy of Nigeria (1980-2010)»The growth of Nigerian economy and unemployment (1980-2010)»The effect of external debt on economic growth of Nigeria»Impact of government expenditure on Nigerian economic growth (1981 – 2010)»Poverty and the Nigerian economy»An assessment on the impact of industrialization on economic growth in Nigeria»The impact of external debt on Nigeria economy (1985-2011)»Inequality and taxation in Nigeria (1980-2010)»The impact of bank lending on the growth of small and medium business in Osun State