TO GET THE COMPLETE JOURNAL/THESIS FOR TOPIC BELOW,
CALL: 08168759420, 08068231953
WHATSAPP: 08137701720
DO DISAGGREGATED MANUFACTURING SECTORS MATTER IN NIGERIA’S ECONOMIC GROWTH: VECM APPROACH?
The research used vector autoregressive (V A R ) and the vector error correction mechanism (VECM) technique to see whether disaggregated manufacturing sectors had any effect on Nigeria’s economic growth over the last 49 years (1970-2018). The productivity of the oil refining subsector is an effective tool for economic growth, according to empirical findings; the coefficient is positive and meaningful in the short run and insignificant in the long run. A further review of the findings reveals that the other s u b -sector identified as M3 in the study plays an important role in Nigeria’s long-term economic growth, with variance decomposition results indicating positive fluctuations. The study recommends that the manufacturing sector must be acknowledged not only as a promoter for wealth creation, poverty alleviation, and employment generation but as a major sector for enhancing economic growth
Key words: Manufacturing, oil refining, vector error correction mechanism (VECM), N igeria.