Scientific Study from the year 2018 in the subject Economics - Foreign Trade Theory, Trade Policy, grade: 2.1, University of Nigeria, course: ECONOMICS, language: English, abstract: This study however, empirically examined the impact of tariff rate on trade openness in Nigeria, relying on annual time series data spanning the period 1985-2016 and using the Engel-Granger two step co-integration test to establish the existence of a stable long run equilibrium relationship among the variables at a 5% level of significance The debate over the effect of tariffs on trade openness is relatively virgin in international trade literature The study employed the Ordinary Least Square (OLS) regression technique and the pairwise granger causality test to validate the nature of the relationship existing between trade openness and tariff rate in Nigeria. Sequel to the regression result, it is found that although tariff variable is statistically insignificant, it has a negative effect on the degree of openness. Similarly, the granger causality reveals a uni-directional causality existing between TOPEN and TARF running only from trade openness to the rate of tariff. The study therefore recommends that since TARF has proven to be an insignificant determinant of trade openness and is thus granger caused by the degree of openness, the government should leave tariff rate to be determined by the invisible hand of the free market-economy and not bother in fixing the tariff rate for the purpose of restricting the free flow of international trade.

Auteur

Ugwuja Chinonso Oliver (ACIEHS, ACICRM, GNIM) is a multidimensional economist, Business Analyst, Banker, Chartered Manager certified by the Nigerian Institute of Management, and a passionate teacher. He has been a research consultant since 2016 with over five published research papers. Chinonso is proficient in statistical and econometric modeling with special skills in using E-VIEWS, STATA, SPSS, EXCEL, and other software. His position has been beneficial to many scintillating researchers in economics and other related disciplines. His passion in teaching has helped students to acquire indelible knowledge that has helped them scale through their public examinations. His Banking, Management, and Audit profession has continuously helped companies grow their revenues and increase their customer base. His writing skills have attracted sponsorship to a lounge where he worked as an inventory controller/internal auditor. Chinonso studied economics at the University of Nigeria. He obtained a Second-Class Upper Division Level (Magnum Cum Laude) and was honored as a policy critic of the year 2017. He obtained the West African Examinations Certificate (WAEC) with excellent results, at Saint Teresa's College, Nsukka in 2012. His passion for educational advancement and contributing to the development of the global economy by imparting knowledge to others and helping SMEs to grow compelled him to take online courses and obtain Graduate Diploma in Digital Marketing and Customer Relationship Management (CRM). Chinonso has diverse professional careers in banking, research, teaching, and business. He contributes to helping both existing and newly established businesses to grow so that employment in this sector will be secure and lucrative as well. Chinonso partners with Formazione Business School as a facilitator for Skill Acquisition and Entrepreneurship Development (SAED), where he had trained business owners in various skills such as Accounting and business management. Chinonso is a volunteer with the Financial Inclusion and Literacy Group where he helped petty traders to obtain low-interest loans to fund their business ideas. These notwithstanding, he seeks national & international exposure and opportunities to contribute to the growth of global economy.