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

摘要

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.