Abstract:
This study focuses on global integration, non-oil export and economic growth in Nigeria. The direct and interaction effect of the both openness variables and non-oil export on economic growth in Nigeria is investigated using quarterly data from 1986-2014. For analysis, it uses one measures of financial openness: de facto (total capital flow) variables following Aizenman and Noy (2009).and a measure of trade openness adopted by Okoh (2004). The study applies the Autoregressive Distributed Lag Model (ARDL). The results show positive impact of non-oil export on economic growth in Nigeria both in the short run and in the long run, negative effect of trade and financial openness on economic growth however, the result recorded a negative effect of the interaction of trade openness and non-oil export on economic growth and a positive effect of the interaction of financial openness and non-oil export on economic growth. Thus, the study recommends among others that government should get the fundamentals right in the economy first that will boost non-oil sector before opening the economy for trade.
