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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Effects of External Trade Financing on Economic Growth |
| Authors Name: | Dickson Okwudiri Alimezie , Davis Ojima , Ngozi Ojima |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_189953
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| Published Paper Id: | IJNRD2304019 |
| Published In: | Volume 8 Issue 4, April-2023 |
| DOI: | |
| Abstract: | The paper examined the effect of external trade financing on economic growth in Nigeria. Time series data from 1982 to 2022 sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin and Annual reports formed one of the major information for the study. The Nigeria Export Import Bank, NEXIM publications were also consulted. The study employed autoregressive distributed lag (ARDL) model in its estimation. Deposit money bank loans to export trade (DMBLE), deposit money banks loans to import trade (DMBLI), Nigeria export and import (NEXIM) credit, letter of credit (LOC)and exchange rate (EXR) were the independent variables in the study, whereas, Gross domestic product growth rate (GDPGR) is the dependent variable. It was revealed in the study that bank’s loan to export trade stimulates economic growth in the short run but negative in the long run. Banks loan to import trade expand economic growth in the short run and a decrease in the long run. Increase in exchange rate was found to shrink economic growth. On the contrary, insurance letter of credit (LOC) decreases economic growth in the long run. The study conclude therefore, that external trade financing has an overall negative effect on economic growth in the long-run. Thus, recommend that deposit money banks should increase the volume of loans to export trade, specifically, for the manufacturing industry. Import trade should be channeled to the importation of those commodities which bears comparative disadvantage to us in term of production, such as machinery. Financial institutions should also promote policies and programs that will enforce the judicious use of loans for import trade in order to protect and promote infant industries. |
| Keywords: | Gross Domestic Product Growth Rate, Deposit Money Banks loans to Export, Deposit Money Banks to Import. |
| Cite Article: | "Effects of External Trade Financing on Economic Growth ", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 4, page no.a133-a143, April-2023, Available :http://www.ijnrd.org/papers/IJNRD2304019.pdf |
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| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2304019 Registration ID: 189953 Published In: Volume 8 Issue 4, April-2023 DOI (Digital Object Identifier): Page No: a133-a143 Country: -, --, - Research Area: Engineering Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2304019 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2304019 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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