Analysis demonstrates the effects of agricultural output and investment on output growth volatility in Nigeria, indicating structural changes are essential for stabilization.
Key Points
The findings reveal that agricultural output and investment are critical determinants of output growth volatility.
F statistics of 15.9 indicate that the variables are co-integrated within a significant model framework.
An autoregressive distributed lag model was employed to analyze the dynamic relationships between the variables.
Implementing export and import strategies, along with irrigation projects, may address economic instability and output volatility.