Volume 2, Issue 5, October 2013, Page: 38-54
Agriculture and Intersectoral Linkages and their Contribution to Nigerian Economic Growth
ONAKOYA, Adegbemi Babatunde, Department of Economics, Tai Solarin University of Education, Ijebu Ode, Nigeria
Received: Aug. 22, 2013;       Published: Sep. 30, 2013
DOI: 10.11648/j.eco.20130205.11      View  3476      Downloads  226
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.
Agriculture, Intersectoral Linkage, Economic Growth, Macroeconometric Model
To cite this article
ONAKOYA, Adegbemi Babatunde, Agriculture and Intersectoral Linkages and their Contribution to Nigerian Economic Growth, Economics. Vol. 2, No. 5, 2013, pp. 38-54. doi: 10.11648/j.eco.20130205.11
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