Please use this identifier to cite or link to this item: http://library.cbn.gov.ng:8092/jspui/handle/123456789/636
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
Carbon emission
Nigeria
Issue Date: Jun-2014
Publisher: Central Bank of Nigeria (CBN), Research Department
Citation: Inuwa, N., Usman, H. M. & Saidu, A. M. (2014). An Autoregressive Distributed Lag (ARDL) approach to the oil consumption and growth nexus: Nigerian evidence. CBN Economic and Financial Review (EFR), 52(2), 75-88.
Series/Report no.: Vol. 52;No. 2
Abstract: This study attempted 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 revealed 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 a negative repercussions on economic growth.
URI: http://library.cbn.gov.ng:8092/jspui/handle/123456789/636
ISSN: 1957-2968
Appears in Collections:Economic and Financial Review

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