ABSTRACT The primary motive of a minimum wage policy is to provide a wage floor for low income earners and improve their welfare. In Nigeria, real minimum wage declined by 83.0% between 1974 and 2010, thus lowering the welfare of workers. Low skilled relative to high skilled workers’ wages also declined from 29.0% in 1991 to 11.0% in 2007. While there is a growing body of literature on the direct effects of minimum wage, there have been little attempts to investigate its indirect welfare a...
Abstract The second West African Monetary Zone (WAMZ), comprising The Gambia, Ghana, Guinea, Nigeria and Sierra Leone, was initiated in 1999 to fast-track the common monetary policy objective of the Economic Community of West African States (ECOWAS). However, uncertainties about the economic implications of the policy have been major obstacles to regional integration. Economists and policymakers are yet to agree on the potential costs and benefits of a common currency. Available empirical st...
ABSTRACT A general way of evaluating the economic welfare of country is through its household per capita expenditure. Thus, the major purpose for this study is to investigate how the recent financial deepening processes in Nigeria have impacted on aggregate welfare. Private per capita consumption expenditure is used to measure aggregate welfare in this study which serves as a macroeconomic measure of indicators of aggregate welfare. Financial deepening can affect aggregate welfare in various...
ABSTRACT In line with the search for the real determinant of economic growth, this work sought to analyze the impact of institutional quality, government expenditure on economic growth, using a panel data analysis for four selected West African Countries (Nigeria, Ghana, Sierra Leone and Burkina Faso) from 2005 to 2013. The study found a positive and significant relationship between some institutions – economic institutions, on economic growth whereas political institutions showed a n...
ABSTRACT The study arose out of the need to tackle the challenges which emanated from the distortion of money demand and stress on inflation as banking crisis occurred. The challenges include liquidity squeeze and increased interest rate which undermined monetary policy implementation, reduced investment and sharply contracted economic activities. The study estimated the effects of banking crisis on money demand and inflation in Nigeria from 1970Q1 to 2014Q2. The specific objectives we...
ABSTRACT Rachuonyo South district is resource endowed in terms of land productivity as is evidenced by annual production outputs of various crops. Sweet potatoes are the main cash crops grown in these areas alongside others such as pineapples, bananas and to some extent tea and coffee. The high outputs enjoyed from the productive lands have not however translated into good living conditions for the residents as their products fetch little in terms of market price the farmers get. Farmers hav...
ABSTRACT In recent years, governmental and nongovernmental organizations in many low-income countries have introduced credit programs targeted to the poor. Many of these programs specifically target the poor on the premise that they are more likely to be credit constrained and have restricted access to the wage labour market. Though participation is by choice, little is known about the role of credit on welfare. The purpose of this study was then to assess the role of credit service on welfa...
ABSTRACT Kenya’s smallholder maize-legume farmers are faced by many challenges in production, among them soil mining, input acquisition, and low soil fertility. In an attempt to address these challenges, the use of Sustainable Agricultural Intensification Practices (SAIPs) has been promoted widely. However, their uptake has remained low among smallholder maize-legume farmers and it is unclear whether social capital influences SAIPs uptake. Using secondary data from Australian International...
ABSTRACT This paper tests the validity of Purchasing Power Parity (PPP) hypothesis for two Anglophone ECOWAS members, Nigeria and Ghana. The researcher tested the relative PPP equation. It also employed the ADF univariate Unit Root test for the stationarity of the exchange rates of each of the countries. Exchange rates and CPIs data for all countries were collected on annual basis for the period between 1970 and 2005. The results show the non-rejection of the null hypothesis of the fail...
ABSTRACT The study focuses on foreign aid and poverty dynamics in Africa. Specifically, the study addressed two objectives ;(1) the relationship between poverty and aid and (2) the relationship between mortality rate and aid. Following these objectives, the study used fixed effects estimation techniques for the two objectives, the choice of which was determined empirically using Hausman test. Based on this technique, the following results were arrived at:(1) that the coefficient of offi...
Abstract Remittance inflow in Nigeria has surpassed that of FDI since 2007, (World Bank ,2011). The increase in the volume of remittance inflow to Nigeria has generated much interest in terms of knowing what impact it has on the economy. This work therefore has its focus on determining the impact of international remittances in financial sector development in Nigeria. It specifically concentrated on determining the impact of international remittances on financial development and on the c...
Globalised Financial Flows, Capital Market Deepening, and Economic Growth: the Nigerian Experience
Abstract The study has as its objectives, to determine the impact of macroeconomic policies on private capital formation in Nigeria. In addition, the ~tudyso ught to evaluate ipso hcto the pattern of responses of private investment to shocks on macroecononlic Policies. And finally, to determine the causal ordering of the mediating variables connecting private investment :?nd macroeconomic variables. The study applied the co- integrated vector autoregressive framework. The first objective of ...
ABSTRACT This study examines the determinants of wage differential in Nigeria. The contribution of wage differential or inequality to total income inequality in Nigeria cannot be underestimated. This goes without saying that the gross income inequality reckoned in Nigeria could be reduced by tackling the wages disparity. To do this, the study designs three main objectives; to ascertain the impact of education and experience on wage differential in Nigeria, to ascertain the relationship that ...
ABSTRACT Although crude oil in Nigeria is indeed a blessing, the fly in the ointment is the fluctuating price of oil which looks somewhat like a curse. The overdependence on crude oil as the country’s main product leads to Dutch disease syndrome. This study contributes to existing literature by estimating the impact of oil price fluctuations and oil revenue on welfare in Nigeria for the period 1981-2014. Employing the Ordinary Least Square (OLS) estimation technique within an Error C...