African Journal of Applied Statistics

Exploratory Analysis of Some Sectors of the Economy: A Seemingly Unrelated Regression Approach

Afeez Abolaji LAWAL and Oluwayemesi Oyeronke ALABA

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Abstract

The low performance in output of various sectors of Nigeria has been attributed to problems facing each sector such as inadequate capital. This study examined the impact of bank lending and some other economic determinant on economic growth in Nigeria for the period of 1981 - 2017. Data were sourced online from Central Bank of Nigeria. Seemingly Unrelated Regression Model was adopted to simultaneously determine factors that contribute significantly to the dependent variables. Bank lending had positive significant impact on agriculture, services and industrial sector.

Résumé

La faible performance de la production de divers secteurs du Nigéria a été attribuée aux problèmes auxquels chaque secteur est confronté en termes de capitaux insuffisants. Cette étude a examiné l'impact des prêts bancaires et d'autres facteurs économiques déterminant sur la croissance économique du Nigéria pour la période 1981 - 2017. Les données ont été obtenues en ligne aupres du site de la Banque centrale du Nigéria. Un modèle de régression apparemment non apparenté a été adopté pour déterminer simultanément les facteurs qui contribuent de manière significative aux variables dépendantes. Les prêts bancaires ont eu un impact significatif positif sur l'agriculture, les services et le secteur industriel.

Article information

Source
Afr. J. Appl. Stat., Volume 6, Number 1 (2019), 649-661.

Dates
First available in Project Euclid: 17 August 2019

Permanent link to this document
https://projecteuclid.org/euclid.ajas/1566007221

Digital Object Identifier
doi:10.16929/ajas/2019.649.236

Subjects
Primary: 62J05: Linear regression
Secondary: 62P99: None of the above, but in this section

Keywords
bank lending Nigeria economic sectors exchange rate money supply credit to private sector Seemingly Unrelated Regression (SUR)

Citation

LAWAL, Afeez Abolaji; ALABA, Oluwayemesi Oyeronke. Exploratory Analysis of Some Sectors of the Economy: A Seemingly Unrelated Regression Approach. Afr. J. Appl. Stat. 6 (2019), no. 1, 649--661. doi:10.16929/ajas/2019.649.236. https://projecteuclid.org/euclid.ajas/1566007221


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