Mohammed Shuaibu and Usman Gana
Nigeria’s poor non-oil export performance has been the focal point of the growth policy discourse since the 1970s, but the role of emerging driving factors has remained significantly less understood. Thus, this study explores the determinants of Nigeria’s non-oil exports by explicitly considering trade credit and digital payment systems. The study employs the Autoregressive Distributed Lag Model and the monthly data from 2010 to 2023 so as to achieve its objective. The results show that increased trade credit and better e-payment systems significantly improve the non-oil export sector’s performance. The one implication of this finding is that increasing trade credit and improving e-payment systems may serve as another alternative to unlocking and boosting Nigeria’s non-oil export sector’s potential. Therefore, the paper concludes that, with the promotion of trade credit and an increased use of e-payments, Nigeria can improve its non-oil export performance in order to foster sustainable economic growth.
Cheng-Wen Lee1 and Andrian Dolfriandra Huruta2,3
In this paper, the effects of Foreign Direct Investments (FDIs) and exports on economic growth in the Association of Southeast Asian Nations Plus Three countries are explored. The panel data of a total of 13 countries pertaining to the period from 2008 to 2018 were analyzed. Based on the result of the Lagrange Multiplier (LM) test, the data fit to the random effect model. In a similar fashion, the Wald test suggests that there is no endogeneity problem in the given model. Furthermore, the results of the Hausman and Chow test also indicate that the random effect model is the most effective model to describe the effects of FDIs and exports on economic growth. The results prove that FDIs positively impact economic growth. In addition, exports also have a positive and meaningful effect on economic growth. Overall, the paper empirically confirms FDI-led growth and export-led growth. To conclude, the findings indicate the fact that FDIs and exports are crucial for boosting the economic growth of the ASEAN+3 countries. The ASEAN+3 region remains quite an attractive destination for international companies around the world when FDIs and trade are concerned.