Agricultural Science

Agricultural Science

ISSN: 2291-4471 (Print)    ISSN: 2291-448X (Online)

Volume 3 (2015), No. 1, Pages 21-30

DOI: 10.12735/as.v3i1p21

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Empirical Link between Macroeconomic Policy Variables and the Performance of Quoted Agro-Based Firms in Nigeria

Bassey, Nsikan Edet1  Okeke, Chinyere Charity2  Edet, Mfon Efiong3 

1Department of Agricultural Economics and Extension, Akwa Ibom State University, Akwa Ibom State, Nigeria
2Department of Agricultural Economics and Extenstion, Nnamdi Azikiwe University of Nigeria, Awka, Nigeria
3Department of Agricultural Economics and Extension, University of Calabar, Cross River State, Nigeria


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This paper modeled the determinants of quoted agro-based firm’s performance equation in Nigeria. Time series data employed in the analysis covered the period 2000-2012 and was obtained from Central bank of Nigeria. Data were analyzed using the Ordinary Least Square (OLS) regression technique. To ascertain for stationarity, Augmented Dickey Fuller (ADF) unit root test was conducted on the variables. Result revealed that while Energy consumption per capita (ENRt), Install Capacity Utilization Rate (ICUt),Total Commercial Bank credit to Small Scale Industries (TCBCt), exerted significant positive impact on agro-based performance, exchange rate ( EXRt) impacted negatively on agro-based performance. This underscores the need to pursue policies that would improve energy production in the country, ensure proper funding of the sector and stabilizes exchange rate as the way out.

Keywords: agro-based firms; macroeconomic variables and performance

To Cite this Article: Bassey, N. E., Okeke, C. C., & Edet, M. E. (2015). Empirical link between macroeconomic policy variables and the performance of quoted agro-based firms in Nigeria. Agricultural Science, 3(1), 21-30.

Copyright © Nsikan Edet Bassey et al.

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This article is published under license to Science and Education Centre of North America. This is an Open Access article distributed under the terms of the Creative Commons Attribution 4.0 International License.

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Empirical Link between Macroeconomic Policy Variables and the Performance of Quoted Agro-Based Firms in Nigeria