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SERVICE SECTOR ROLE IN THE CONTEXT OF INTERSECTORAL LINKAGES: THE CASE FOR ECONOMIC GROWTH IN NIGERIA

Authors: ONAKOYA Adegbemi

Publication Type: Journal article

Journal: Ijagun Journal Of Social And Management Science

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Abstract

This paper investigates the service sector contribution to the economy of Nigeria was conducted by this study. A structural economic model which encompass four sectors was developed. The model reflects the inter-linkages between agriculture manufacturing, oil and gas and services in the real sector of Nigeria's economy. The paper utilised the combination of Two Stage Least Squares (2SLS) and SURE (Seemingly Unrelated Regression) which is encompassed in the Three Stage Least Squares (3SLS). The 3SLS generalizes the 2SLS method to take account of the correlations between the simultaneous equation. Time series data spanning forty years from 1970 to 2010 was utilized. The findings suggest the existence of unidirectional causality from services to the agricultural, industrial and oil sectors. It shows that sectoral linkages are not always beneficial. This is manifested by the negative relationship between the industrial and service sectors. The study however confirms that the sectors are inter-wined and beyond the manufacturing sector, the service sector plays increasing positive role in the cumulative causation growth of the economy. In order to achieve balanced economic growth and the transformation of a predominantly agrarian into a tertiary economy, the private sector should invest more in innovative technology, high-tech inputs, better transportation, more reliable communications and engaging financial services amongst others. The government on its part should continue the liberalization of energy infrastructure for sustainable economic growth.

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ONAKOYA,A. . (0000). SERVICE SECTOR ROLE IN THE CONTEXT OF INTERSECTORAL LINKAGES: THE CASE FOR ECONOMIC GROWTH IN NIGERIA, 4 (), 87-87.

ONAKOYA,A. . "SERVICE SECTOR ROLE IN THE CONTEXT OF INTERSECTORAL LINKAGES: THE CASE FOR ECONOMIC GROWTH IN NIGERIA" 4, no (), (0000): 87-87.

ONAKOYA,A. and . (0000). SERVICE SECTOR ROLE IN THE CONTEXT OF INTERSECTORAL LINKAGES: THE CASE FOR ECONOMIC GROWTH IN NIGERIA, 4 (), pp87-87.

ONAKOYAA, . SERVICE SECTOR ROLE IN THE CONTEXT OF INTERSECTORAL LINKAGES: THE CASE FOR ECONOMIC GROWTH IN NIGERIA. 0000, 4 ():87-87.

ONAKOYA,Adegbemi , . "SERVICE SECTOR ROLE IN THE CONTEXT OF INTERSECTORAL LINKAGES: THE CASE FOR ECONOMIC GROWTH IN NIGERIA", 4 . (0000) : 87-87.

O.Adegbemi , "SERVICE SECTOR ROLE IN THE CONTEXT OF INTERSECTORAL LINKAGES: THE CASE FOR ECONOMIC GROWTH IN NIGERIA" vol.4, no., pp. 87-87, 0000.

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