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Rivers State University, Port Harcourt.
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| Title: | Fiscal Policy Measures and Agricultural Sector Performance in Nigeria |
| Author(s): | Nwikina Christian Gbarawae & Inimbga Benson Tamuotonye |
| Abstract: | In this paper, we evaluate the relationship between fiscal policy measures and agricultural sector performance in Nigeria. Secondary data were taken from World Bank world ’ s development indicators (WDD) and central bank of Nigeria (CBN) statistical bulletin for the period 1990-2021. The formulated model was subjected to the Augmented Dickey Fuller Unit Root Approach for a test of unit root. The variables are integrating in mixed order, according to the result of ADF unit test. The study was based on the outcome of a unit root test, which adopted an Auto-Regressive Distributive Lag (ARDL) model. The result of the ARDL bound test shows that there is a long-run relationship between fiscal policy measures and agricultural sector performance. Additional research discovered that public capital expenditure on agriculture ran counter to the performance of the agricultural sector, and in both long-run as well as short run. Moreover, the relationship between agricultural sector credit guarantee scheme fund emerged that it stimulates overall performance of agriculture over a number of years and previous period in particular; secondly derive an empirical outcome which finds international fund for agricultural development is one with regard to long-run term but negative impact on contemporaneous year's crop yield as well increased amount from past times. However, the P-value showed that the relationship between international fund for agricultural development and agricultural sector performance is significant. It was recommended among others that government should mandate the agricultural sector to access more funds from the agricultural credit guarantee scheme fund and international fund for agricultural development. |
| Keywords: | Agricultural Sector Growth, Public Capital Expenditure on Agriculture, International Fund for Agricu |
| Journal: | Journal of Contemporary Research in Economics and Development Studies (JCREDS) |
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