ECONOMIC GLOBALIZATION AND POVERTY REDUCTION IN NORTH CENTRAL NIGERIA
DOI:
https://doi.org/10.53555/nnbma.v9i4.1629Keywords:
Globalization, Poverty Reduction, International Trade, North-Central, Nigeria.Abstract
The study examined globalization and poverty reduction in North Central Nigeria. Primary data from a sample of 372 respondents was used for the study. A structured questionnaire was used as instrument for data collection. Inferential was used to estimate the model of the study. The probability value of the estimates were used to test the hypotheses of the study. Findings from the study indicates that International trade in services (INTS) has a positive effect on poverty reduction in North Central Nigeria and the effect is not statistically significant (p>0.05) but in line with a priori expectation. This implies that a unit increase in international trade in services (INTS) will result to a corresponding increase in the poverty reduction in North Central Nigeria by a margin of 0.8%. Result of the specific objectives of the study indicates that International trade in goods (INTG) has a positive effect on poverty reduction in North Central Nigeria and the effect is statistically significant (p<0.05) and in line with a priori expectation. This implies that when international trade in goods (INTG) is increased by a unit, it will result to a corresponding increase in poverty reduction in North Central Nigeria by a margin of 63.8%. Findings for objective three shows that global value chains (GVLC) has a negative effect on poverty reduction in North Central Nigeria and the effect is not statistically significant (p>0.05) and not in line with a priori expectation. This implies that a unit increase in Global value chains (GVLC) will result to a corresponding decrease in the poverty reduction in North Central Nigeria by a margin of 13.2%. It was concluded that international trade in goods has a positive and significant effect on poverty reduction in North Central Nigeria. it was recommended among others that since the international trade in goods was shown to have a positive and significant effect on poverty reduction in the study area, the governments of these State must ensure that they leverage on the opportunities provided by globalization to help reduce the poverty in their region by engaging trading in foreign goods which they do not have comparative advantage in producing.
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