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Research Article Open access CC BY 4.0

Bank Credit and Agricultural Output in Nigeria (1970 – 2013): An Error Correction Model (ECM) Approach

P. N. Nnamocha, Charles N. Eke

Journal of Economics, Management and Trade · pp. 1–12 · Published 24 Aug 2015

10.9734/BJEMT/2015/19884

Abstract

This work investigated the effect of Bank Credit on Agricultural Output in Nigeria using the Error Correction Mode (ECM). A yearly data (1970- 2013) obtained from the Central Bank of Nigeria was used for the analysis. The analysis showed that all the variables were integrated of order one I (1) and long-run relationship existed among them. However, following the empirical findings in this study, it showed that, in the long-run bank credit and industrial output contributed a lot to agricultural output in Nigeria, while; only industrial output influenced agricultural output in the            short-run.

Error correction model bank credit agricultural output and credit channel theory

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