Macroeconomic Policy and Agricultural Value Chain in Nigeria

  • Martins Iyoboyi Department of Economics and Development Studies, Federal University Dutsin-Ma, Katsina State, Nigeria http://orcid.org/0000-0002-4781-1252
  • Samuel Felix Okereke Department of Economics and Development Studies, Federal University Dutsin-Ma, Katsina State, Nigeria
  • Latifah Musa-Pedro Department of Economics, Bayero University Kano, Kano State, Nigeria
Keywords: Agricultural Value Chain, Autoregressive Distributed Lag, Macroeconomic Policy

Abstract

The objective of the paper was to investigate macroeconomic policy and agricultural value chain in Nigeria. The period covered is 1981–2016. The analysis is based on the autoregressive distributed lag framework. A long-run equilibrium relationship was found among the variables used in the investigation. Government expenditure and broad money supply (the macroeconomic policy variables used) were found to have significant positive impact on the agricultural value chain. Energy was found to also have a direct statistically significant impact on agricultural value chain. Based on the results, it is recommended that there should be an enabling macroeconomic policy framework, which gives emphasis to improved budgetary allocation to the agricultural sector, increases money supply, and promotes agencies that can directly impact the level of finance to agricultural value chain related businesses in Nigeria. Above all, electricity supply should be enhanced.

Author Biography

Martins Iyoboyi, Department of Economics and Development Studies, Federal University Dutsin-Ma, Katsina State, Nigeria

Martins Iyoboyi teaches Advanced Econometrics and Applied Statistics at the department of Economics and Development Studies, Federal University, Dutsin-Ma, Nigeria. His areas of research interest re macroeconomics and institutional economics. At the moment, he is the Head, department of Economics and Development Studies, Federal University, Dutsin-Ma, Nigeria. He holds a doctorate in Economics and is an associate of the Institute of Chartered Accountants of Nigeria. He has also published over thirty research articles in local and international journals

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Published
2018-12-27
How to Cite
Iyoboyi, M., Okereke, S., & Musa-Pedro, L. (2018, December 27). Macroeconomic Policy and Agricultural Value Chain in Nigeria. UKH Journal of Social Sciences, 2(2), 31-40. https://doi.org/https://doi.org/10.25079/ukhjss.v2n2y2018.pp31-40
Section
Research Articles