An econometric analysis of the determinants of demand for palm oil in Nigeria
This paper empirically examines the determinants of palm oil demand in Nigeria. Within a time series framework, we adopted the Autoregressive Distributed Lag (ARDL) technique to establish the presence of long-run relationships between palm oil demand and its determinants. We find compelling evidence...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Meghana Publications
2016
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| Online Access: | http://psasir.upm.edu.my/id/eprint/56426/1/An%20econometric%20analysis%20of%20the%20determinants%20of%20demand%20for%20palm%20oil%20in%20Nigeria.pdf |
| _version_ | 1825931413467168768 |
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| author | Egwuma, Henry Shamsudin, Mad Nasir Mohamed, Zainal Abidin Kamarulzaman, Nitty Hirawaty Wong, Kelly Kai Seng |
| author_facet | Egwuma, Henry Shamsudin, Mad Nasir Mohamed, Zainal Abidin Kamarulzaman, Nitty Hirawaty Wong, Kelly Kai Seng |
| author_sort | Egwuma, Henry |
| collection | UPM |
| description | This paper empirically examines the determinants of palm oil demand in Nigeria. Within a time series framework, we adopted the Autoregressive Distributed Lag (ARDL) technique to establish the presence of long-run relationships between palm oil demand and its determinants. We find compelling evidence for the existence of a cointegrating relationship between the variables of interest. Our results further reveal that the price of palm oil and income are the major drivers of both import and domestic demand for palm oil in Nigeria. The study recommends that macroeconomic stabilization strategies and appropriate pricing policies should be designed to ensure the expansion of palm oil market share. |
| first_indexed | 2024-03-06T09:26:22Z |
| format | Article |
| id | upm.eprints-56426 |
| institution | Universiti Putra Malaysia |
| language | English |
| last_indexed | 2024-03-06T09:26:22Z |
| publishDate | 2016 |
| publisher | Meghana Publications |
| record_format | dspace |
| spelling | upm.eprints-564262017-07-31T09:51:11Z http://psasir.upm.edu.my/id/eprint/56426/ An econometric analysis of the determinants of demand for palm oil in Nigeria Egwuma, Henry Shamsudin, Mad Nasir Mohamed, Zainal Abidin Kamarulzaman, Nitty Hirawaty Wong, Kelly Kai Seng This paper empirically examines the determinants of palm oil demand in Nigeria. Within a time series framework, we adopted the Autoregressive Distributed Lag (ARDL) technique to establish the presence of long-run relationships between palm oil demand and its determinants. We find compelling evidence for the existence of a cointegrating relationship between the variables of interest. Our results further reveal that the price of palm oil and income are the major drivers of both import and domestic demand for palm oil in Nigeria. The study recommends that macroeconomic stabilization strategies and appropriate pricing policies should be designed to ensure the expansion of palm oil market share. Meghana Publications 2016 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/56426/1/An%20econometric%20analysis%20of%20the%20determinants%20of%20demand%20for%20palm%20oil%20in%20Nigeria.pdf Egwuma, Henry and Shamsudin, Mad Nasir and Mohamed, Zainal Abidin and Kamarulzaman, Nitty Hirawaty and Wong, Kelly Kai Seng (2016) An econometric analysis of the determinants of demand for palm oil in Nigeria. International Journal of Agricultural Sciences and Veterinary Medicine, 4 (2). pp. 1-12. ISSN 2320-3730 https://www.ijasvm.com/previousissue.php?year=2016&issue=2 |
| spellingShingle | Egwuma, Henry Shamsudin, Mad Nasir Mohamed, Zainal Abidin Kamarulzaman, Nitty Hirawaty Wong, Kelly Kai Seng An econometric analysis of the determinants of demand for palm oil in Nigeria |
| title | An econometric analysis of the determinants of demand for palm oil in Nigeria |
| title_full | An econometric analysis of the determinants of demand for palm oil in Nigeria |
| title_fullStr | An econometric analysis of the determinants of demand for palm oil in Nigeria |
| title_full_unstemmed | An econometric analysis of the determinants of demand for palm oil in Nigeria |
| title_short | An econometric analysis of the determinants of demand for palm oil in Nigeria |
| title_sort | econometric analysis of the determinants of demand for palm oil in nigeria |
| url | http://psasir.upm.edu.my/id/eprint/56426/1/An%20econometric%20analysis%20of%20the%20determinants%20of%20demand%20for%20palm%20oil%20in%20Nigeria.pdf |
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