DOES THE DUTCH DISEASE SYNDROME MATTER IN AGRICULTURAL EXPORTS OF OIL-RICH ECOWAS MEMBER COUNTRIES?
- O.A. Ijuo
- S.O. Ominyi
- A. Ateata3
- B.M. Vehe
- ( paper pages. 349 - 363 )
Abstract
This study examined whether the resource curse
hypothesis applies in the export of agricultural products of oil-rich ECOWAS
member countries for the period 1986-2021 within a panel data framework. The
study was anchored on the resources curse, export-led and growth-led
hypotheses. Following the results of the relevant pre-estimation tests
conducted, panel ARDL/PMG model and causality tests were employed. The study
found that the direct effect of the resource curse hypothesis holds true for
these economies in the short run but the indirect effect, which operates
through the crowd out effect of exchange rate, holds true in the long run. The
study therefore recommended, amongst others, that for these oil-rich ECOWAS
countries to fully harness the potential of exports of agricultural products
and escape both the direct and indirect effects of the resource curse hypothesis,
diversification of agricultural exports and sound institutions should be
promoted and sustained.
Citation
O.A. Ijuo, S.O. Ominyi, A. Ateata3, B.M. Vehe.
2024.
"DOES THE DUTCH DISEASE SYNDROME MATTER IN AGRICULTURAL EXPORTS OF OIL-RICH ECOWAS MEMBER COUNTRIES?"
The Nigerian Journal of Economic and Social Studies,
66 (3): 349 - 363.
JEL Classification
C23, D73, O43, Q17
