Please use this identifier to cite or link to this item: http://library.cbn.gov.ng:8092/jspui/handle/123456789/142
Title: An Autoregressive Distributed Lag (ARDL) Approach to the Oil Consumption and Growth Nexus: Nigerian evidence
Authors: Inuwa, N.,
Usman, H. M.,
Saidu, A. M.,
Keywords: Oil consumption
Economic growth
Autoregressive Distributed Lag (ARDL)
Nigeria
Issue Date: Jun-2014
Publisher: Research Department, Central Bank of Nigeria.
Citation: Inuwa, N., Usamn, H. M., & Saidu, A. M. (2014). An Autoregressive Distributed Lag (ARDL) Approach to the Oil Consumption and Growth Nexus: Nigerian evidence. Economic and Financial Review, 52(2), 75–88.
Series/Report no.: Economic and Financial Review;Vol. 52 No. 2
Abstract: This study attempts to examine the relationship between oil consumption, carbon emission and economic growth in Nigeria covering the period 1980-2011. The study applied Dickey-Fuller Generalised Least Square (DF-GLS) unit root test and autoregressive distributed lag (ARDL) bound test approach to co-integration. The bond test results reveals a long-run equilibrium relationship among oil consumption, carbon emission and economic growth. The result also showed a positive and statistically significant impact of oil consumption on economic growth. The coefficient of error correction term in the ARDL model was statistically significant, indicating that the adjustment process by which long-run equilibrium is restored after a shock is very fast. In conclusion, oil consumption played an important role in the economic growth of Nigeria, thus efforts to conserve oil will have negative repercussions on economic growth.
URI: http://library.cbn.gov.ng:8092/jspui/handle/123456789/142
ISSN: 1957-2968
Appears in Collections:Economic and Financial Review

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