Trade, Poverty and Sustainable Development in Nigeria: A Dynamic Analysis

By Ayinde, Taofeek Olusola; Bankole, Abiodun S. | IUP Journal of Applied Economics, October 2016 | Go to article overview

Trade, Poverty and Sustainable Development in Nigeria: A Dynamic Analysis


Ayinde, Taofeek Olusola, Bankole, Abiodun S., IUP Journal of Applied Economics


(ProQuest: ... denotes formulae omitted.)

Introduction

As was widely circulated by development practitioners, the key to sustained poverty alleviation is trade (Bruno et al., 1998). However, it was posited that the early studies were based on rather small samples, while the recent works have extended the sample and reached mixed conclusions laced with great controversy. In general, empirical studies suffer from a number of shortcomings and the question surrounding the correlation between trade and poverty have not been resolved (Baldwin, 2000). Baldwin (2000) offers explanations for the differences among researchers of the trade-poverty nexus. While econometric analyses are limited by the scope and comparability of available quantitative data, differences in what investigators regard to as appropriate econometric models and sensitivity test analyses are based, in part, on the personal policy predictions of authors which results in significant differences in the conclusions reached under such quantitative approaches (Baldwin, 2000). Also, many empirical studies on trade, poverty and sustainable development have, at least, being conceptually deficient with development synonymously taken as sustainable development for analyses. However, these concepts are not totally one and the same (Asefa, 2005).

This confusion is broadly informed by the diverse nature with which sustainable development has assumed in the literature. Sustainability and sustainable development has been used interchangeably. Sustainability is dichotomized into soft and hard dimensions (Calverley and Amarasinghe, 2013). The former is referred to as green economy, while the latter is known as green society (Cook et al., 2012). Basically, researches have largely been focused on using a single framework to capture the concept of sustainable development. However, the universality of sustainable development suggests that this concept is to be viewed from various dimensions. The prominent are the economics, social and ecological views. From the economics perspective, the neoclassical theory provides the first explanation and further refinements were done by Hartwick (1977) and Solow (1986) with follow ups by Toman (1992) and Daly (1994). Ecologically, sustainability must involve limits on population and consumption levels. These limits apply to all biological systems. As such, sustainability was to be in terms of the maintenance of ecosystem resilience (Holling, 1994). The social perspective of sustainability relates to the aspect of human development with which the HDI has remained largely prominent. In fact, Common and Perrings (1992) distinguished between 'Solow Sustainability' derived from the economic model of stable or increasing consumption and 'Holling Sustainability' based on ecosystem resilience and considered both largely disjoint. This implies there may be no close relationship between economic efficiency and ecological sustainability. Hence, a need for a dynamic analysis of the sustainability concept as a single indicator and/or framework cannot capture sustainable development (Bossel, 1999). This is the void in empirical estimations that this study seeks to advance.

As such, this study contributes to the existing studies in three major ways. Firstly, upon conceptual clarifications, we seek to provide a validated theoretical framework for the study of trade-poverty-sustainable development nexus. Secondly and towards a dynamic analysis, we seek to construct an appropriate composite index for sustainable development for Nigeria as rightly captured by the World Bank (1997), and empirically extended by Bolt et al. (2002) and Gogoneata (2010). Thirdly and methodologically, we employ the use of dynamic technique of the Autoregressive Distributed Lag (ARDL) Bounds testing approach which still remains grossly latent in the empirical literature for the trade-poverty-sustainability nexus.

This paper is organized as follows: it reviews the related theoretical and empirical literature, followed by a brief methodological review and further presents the methodological framework used in the study. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Trade, Poverty and Sustainable Development in Nigeria: A Dynamic Analysis
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.