Analysis of the influence of economic growth on trend of sea piracy and armed robbery attacks in Nigeria
Date
2021-07
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Federal University of Technology, Owerri
Abstract
The study analyzed the influence of economic growth on trend of sea piracy and armed robbery attacks against ships in the Nigeria territorial waters. The objective of the study was to assess the influence of the growth in Gross Domestic Product (GDP), revenue generated by the maritime transport sub-sector, and youth unemployment rate on trend of pirate attacks against ships trading in Nigeria waters. The expost facto research design was employed in which the historical data on GDP, revenue generated by the maritime transport sub-sector, youth unemployment rate and pirate attacks against ships were obtained from secondary sources. Log linear multiple regression analysis and trend analysis methods were employed to analyze the data obtained. It was found that the model showing the relationship depicting the influence of GDP growth, growth in revenue generated by the maritime transport sub-sector and unemployment rate on pirate attacks against ships in the waters of Nigeria is: InPIRATE attacks = 2.760 - 1.160InGDP - 0.05InMAREV + 0.258InUNRATE. The implication is that a unit annual increase in GDP (economic growth) causes the pirate attacks against ships to decrease by 3.81units while a unit increase in revenue generated by the maritime transport sub-sector induces a 0.007 unit decrease sea pirate attacks against ships in Nigeria. A unit increase in youth unemployment rate increases pirate attacks against ships in the Nigeria waters by 0.158units. The trend of pirate attacks against ships in Nigeria waters over the period relative to the trends of GDP, revenue generated by the maritime transport sector and youth unemployment is: PIRATE attacks = 23.386 - 0.105Xt + Ɛ. It was recommended that economic growth should be translated into opportunities for economic empowerment of youth in other to bring about a significant decrease in pirate attacks against ships in Nigeria.
Description
A Master's thesis on influence of economic growth on trend of sea piracy and armed robbery attacks
Keywords
Sea-piracy, armed-robbery, economic-growth, unemployment-rate, Department of Transport Management, Nigeria
Citation
Ogwo, N. E. (2021). Analysis of the influence of economic growth on trend of sea piracy and armed robbery attacks in Nigeria (Unpublished Master's Thesis). Fedearal University of Technology, Owerri.