US Trade Policy Uncertainty and Nigeria's Participation in Global Value Chains: Evidence from Frequency Domain Causality, Wavelet Coherence Analysis, and Time-Varying Causality
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Dosyalar
Tarih
2024
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Springer
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
This study examines for the frst time whether trade policy uncertainty emanating
from the United States signifcantly predicts Nigeria’s participation in global value
chains. It further examines the kind of global value chain participation in Nigeria
(forward or backward linkages) that is most predictable by the United States trade
policy uncertainty. To achieve the study objective, frequency domain causality, wave let coherence analysis, and time-varying causality are employed in analyzing annual
data sets over the period 1990–2019. The summary of the study fndings is as fol lows; frst, trade policy uncertainty emanating from the United States signifcantly
predicts Nigeria’s overall integration into global value chains. Second, there is a posi tive association between Nigeria’s integration into global value chains and the United
States trade policy uncertainty. Third, Nigeria’s overall integration into global value
chains is highly correlated with the United States trade policy uncertainty in peri ods around the global economic crisis of 2007/08 and Nigeria’s recession of the late
2010s. Fourth, most of the predictability noticed in the relations between trade policy
uncertainty generated by the United States and the overall global value chain partici pation is caused by the relations between the United States trade policy uncertainty
and Nigeria’s forward linkage into global value chain participation.
Açıklama
Anahtar Kelimeler
United States; Nigeria; Global value chains; Trade policy uncertainty; Frequency domain causality; Wavelet coherence analysis
Kaynak
Journal of the Knowledge Economy
WoS Q Değeri
N/A
Scopus Q Değeri
N/A
