| Title: | Effects Of Cereal Outputs On Microeconomic Health Indicators In Nigeria |
| Author(s): | NWOKUGHA S. U & TUANEH G.L |
| Abstract: | Study examined the effects of cereal outputs on Macroeconomic Health Indicators in Nigeria between the periods of 1980 to 2022. Time series data obtained from the database of World Bank (WB, 2022), Central Bank of Nigeria (CBN, 2022) for a time period of forty two (42) years was used in the study. The data collected were described using descriptive statistics and analyzed using Autoregressive Distributed Lag (ARDL), Augmented Dickey Fuller Test (ADF), Unit Root Test and Bounds Co-integration. The Descriptive statistics showed that all the variables employed were normally distributed. The unit root test result using Augmented Dickey-Fuller (ADF) shows that exchange rate, GDP, Inflation, Maize output, millet output, rice output, sorghum output and wheat output were stationary at level whilst only interest rate was stationary at first difference. The Autoregressive Distribution Lag (ARDL) bound test was used to separate long and short run dynamics. Calculated F-statistics for all the models were all higher than the upper critical bound for (5%) and (10%) critical values. Based on the standard deviation (S.D) of the variables, rice output had the highest standard deviation of (109936.1), whereas interest rate has the lowest standard deviation of (3.476016). Rice output had the highest kurtosis of (37.64146) indicating that the distribution were peaked. The autoregressive distributive lag (ARDL) result showed that cereal output and Macroeconomic Health Indicators had significant effect on Economic Growth in both short and long-run at (5% level of significance. R2 was 0.998; indicating that cereal output explained 99.8 percent of the variation in interest rate. The study, therefore recommend that farmers should be encouraged to increase their level of cereal outputs as it helps to strengthen macroeconomic health indicators. |
| Keywords: | Effects, Cereals, Outputs, Microeconomic Health, Indicators |
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