Oil price movements and agricultural production from heterogeneous sub-sectors: Analysing the Dutch disease in an African resource-rich economy

The economy of a developing country like Nigeria has evolved from a strong dependence on agricultural exports in the 1960s to an unhealthy reliance on crude oil exports. This has led to a large agricultural trade deficit that requires a better understanding of the dynamic relationship between oil price booms and agricultural production. To this end, the study not only isolates the effect of oil price movements on agricultural production from heterogeneous sub-sectors in Nigeria but also tests for Dutch disease symptoms using annual data from 1970 to 2019. Employing the auto-regressive distribu... Mehr ...