Joel Okon - Academia.edu (original) (raw)
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Universidad Nacional de Colombia (National University of Colombia)
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Papers by Joel Okon
Social Sciences and management international Journal, 2020
The paper examined the role of agriculture in promoting the diversification agenda and economic g... more The paper examined the role of agriculture in promoting the diversification agenda and economic growth in Nigeria. The study employed annual time series data obtained from Central Bank of Nigeria statistical bulletin and World Bank Data base for the period 1986 to 2018. The study employed the Phillip-Peron unit root test, ARDL Bounds test for cointegration, and the error correction mechanism. The result of the unit root test revealed that the variables were stationary at mixed order of integration (levels and first difference), while the ARDL Bounds test revealed the presence of a long-run relationship. Findings of the study further revealed that all the components of agricultural production-crop production, livestock production, forestry, and fisheries-exerted a positive and significant long-run effect on economic growth, with livestock production exerting the greatest effect within the study period. The error correction mechanism indicated that 71.07% of the short-run disequilibrium is corrected in the long-run. The paper recommended that for the country to strongly diversify, government needs to invest aggressively on the agricultural sector so as to reap its full potentials.
Social Sciences and management international Journal, 2020
The paper examined the role of agriculture in promoting the diversification agenda and economic g... more The paper examined the role of agriculture in promoting the diversification agenda and economic growth in Nigeria. The study employed annual time series data obtained from Central Bank of Nigeria statistical bulletin and World Bank Data base for the period 1986 to 2018. The study employed the Phillip-Peron unit root test, ARDL Bounds test for cointegration, and the error correction mechanism. The result of the unit root test revealed that the variables were stationary at mixed order of integration (levels and first difference), while the ARDL Bounds test revealed the presence of a long-run relationship. Findings of the study further revealed that all the components of agricultural production-crop production, livestock production, forestry, and fisheries-exerted a positive and significant long-run effect on economic growth, with livestock production exerting the greatest effect within the study period. The error correction mechanism indicated that 71.07% of the short-run disequilibrium is corrected in the long-run. The paper recommended that for the country to strongly diversify, government needs to invest aggressively on the agricultural sector so as to reap its full potentials.