This study investigates the contributions of the agricultural sector to Nigeria's economy by estimating a macroeconometric model which is a system of simultaneous equations that seeks to explain the behaviour of key economic variables at the aggregate level, based on the received theories of economics. Within the context of the inter-linkages of the various sectors of the real economy, the estimates incorporate the linkages among agriculture, manufacturing, oil and gas and the service sectors, especially how the affect of the other sectors influence the growth of agriculture. The findings is that inter sectoral relationships are complicated and multi-directional. The spill-over effects and externalities generated by the interactions and linkages between the different sectors attest to the dynamic nature of the economy. Also, the economic role of the agricultural sector is a one-way path as the flow of capital is mainly towards the industrial, oil and gas and the tertiary services sectors. This study establishes that sectoral linkages are not always beneficial especially between agriculture and the oil sector and recommends the modernization of the industrial and services sectors in order to generate increase in local content value addition to agriculture.
| Published in | Economics (Volume 2, Issue 5) |
| DOI | 10.11648/j.eco.20130205.11 |
| Page(s) | 38-54 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2013. Published by Science Publishing Group |
Agriculture, Intersectoral Linkage, Economic Growth, Macroeconometric Model
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APA Style
ONAKOYA, Adegbemi Babatunde. (2013). Agriculture and Intersectoral Linkages and their Contribution to Nigerian Economic Growth. Economics, 2(5), 38-54. https://doi.org/10.11648/j.eco.20130205.11
ACS Style
ONAKOYA; Adegbemi Babatunde. Agriculture and Intersectoral Linkages and their Contribution to Nigerian Economic Growth. Economics. 2013, 2(5), 38-54. doi: 10.11648/j.eco.20130205.11
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Download@article{10.11648/j.eco.20130205.11,
author = {ONAKOYA and Adegbemi Babatunde},
title = {Agriculture and Intersectoral Linkages and their Contribution to Nigerian Economic Growth},
journal = {Economics},
volume = {2},
number = {5},
pages = {38-54},
doi = {10.11648/j.eco.20130205.11},
url = {https://doi.org/10.11648/j.eco.20130205.11},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.eco.20130205.11},
abstract = {This study investigates the contributions of the agricultural sector to Nigeria's economy by estimating a macroeconometric model which is a system of simultaneous equations that seeks to explain the behaviour of key economic variables at the aggregate level, based on the received theories of economics. Within the context of the inter-linkages of the various sectors of the real economy, the estimates incorporate the linkages among agriculture, manufacturing, oil and gas and the service sectors, especially how the affect of the other sectors influence the growth of agriculture. The findings is that inter sectoral relationships are complicated and multi-directional. The spill-over effects and externalities generated by the interactions and linkages between the different sectors attest to the dynamic nature of the economy. Also, the economic role of the agricultural sector is a one-way path as the flow of capital is mainly towards the industrial, oil and gas and the tertiary services sectors. This study establishes that sectoral linkages are not always beneficial especially between agriculture and the oil sector and recommends the modernization of the industrial and services sectors in order to generate increase in local content value addition to agriculture.},
year = {2013}
}
TY - JOUR T1 - Agriculture and Intersectoral Linkages and their Contribution to Nigerian Economic Growth AU - ONAKOYA AU - Adegbemi Babatunde Y1 - 2013/09/30 PY - 2013 N1 - https://doi.org/10.11648/j.eco.20130205.11 DO - 10.11648/j.eco.20130205.11 T2 - Economics JF - Economics JO - Economics SP - 38 EP - 54 PB - Science Publishing Group SN - 2376-6603 UR - https://doi.org/10.11648/j.eco.20130205.11 AB - This study investigates the contributions of the agricultural sector to Nigeria's economy by estimating a macroeconometric model which is a system of simultaneous equations that seeks to explain the behaviour of key economic variables at the aggregate level, based on the received theories of economics. Within the context of the inter-linkages of the various sectors of the real economy, the estimates incorporate the linkages among agriculture, manufacturing, oil and gas and the service sectors, especially how the affect of the other sectors influence the growth of agriculture. The findings is that inter sectoral relationships are complicated and multi-directional. The spill-over effects and externalities generated by the interactions and linkages between the different sectors attest to the dynamic nature of the economy. Also, the economic role of the agricultural sector is a one-way path as the flow of capital is mainly towards the industrial, oil and gas and the tertiary services sectors. This study establishes that sectoral linkages are not always beneficial especially between agriculture and the oil sector and recommends the modernization of the industrial and services sectors in order to generate increase in local content value addition to agriculture. VL - 2 IS - 5 ER -
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