AI Summary & Key Takeaways
AI InsightPolicies that would stimulate export of soyabean should be carry out and enhancing research activities on improving quality of soyabean produced.
📌 3 Key Takeaways
Abstract
This research study examined factors determining the competitiveness of Nigerian soyabean production in international trade: ARDL (Auto-Regressive Distributive Lag) Approach. Data of secondary sources were used. The data covered the period of 2007 to 2022. Data were obtained from FAO, CBN, NBS, World Bank publication, and GHS-P. The econometric tools employed were descriptive statistics, ADF unit root test, and ARDL Model. The outcome of ADF unit root test reveals that ARE and RER are stationary at I (0) (level), while SOY, YED, and WOT were stationary at I (1) (First difference). The ARDL employed for co-integration test for the time series data shows that the computed F- statistics of 13.69 is more than the value at upper bound value of 4.09 at the 5% level of significance, this connotes that there is long run association between the regressors in the model The estimated long run outcome using ARDL show that ARE, YED are the significant regressors influencing the competitiveness soyabean production in international market The speed of regulation to where soyabean will balance even when there is disequilibrium is at the rate of 86%. Policies that would stimulate export of soyabean should be carry out and enhancing research activities on improving quality of soyabean produced.