EFFECTS OF TRADE LIBERALISATION IN THE MARITIME SECTOR OF DEVELOPING ECONOMIES

Abstract

This study analyzed the effects of trade liberalisation in the maritime sector of developing economies.
This study used a quantitative ex-post facto research design to establish the impact of tariff changes, port
privatisation FDI and institutional environment on the industry's efficiency, trade and growth. Trade
policies about maritime performance were analyzed with the help of descriptive and explanatory research
methods. To counteract the cross-sectional and intra-temporal variability of the marine firms, the study
used pooled regression analysis. Value statistics of z scores were computed, and two regression models
were also tested: one explained the net influence of trade liberalisation on the efficiency of maritime
operations. At the same time, the other targeted variable defines the moderating effects of institutional and
regulatory variables. The target population included Nigerian maritime firms that were involved in international trade business, and to minimize the act of generality, purposive sampling was applied to ensure the reliability of data. The findings showed that the efficiency of trade liberalisation was realised but was highly hampered by weak institutions, which also slowed digital customs. This is contrary to expectations, and it brought inefficiencies among the local firms, and the FDI affected the
competitiveness. The study emphasized the importance of developing better and more favourable policies,  physical facilities, and administrative development for the sector, enhancing the maritime sector's performance. These helped to yield useful policy implications regarding improvements in Nigeria's trade environment and economic development.