ABSTRACT Public expenditure1 is not only used for stimulation of aggregate demand, it is also a useful tool for redistribution of wealth and provision of public goods. Consequently, the size and object of government expenditure becomes a leading policy issue of general concern in most national and international gathering. To proffer the much needed professional guidance on such occasion at the local level, this study therefore carried out economic analysis of public expenditure growth and opt...
ABSTRACT Primarily, the paper assesses the determinants of non-oil import demand with the aim to empirically measure the relative strengths, weaknesses and nature of the determinants, and subsequently assess the extent to which results are in conformity with those previously obtained on a wider aggregate of the Nigerian economy. An econometric method of analysis which encompasses wide range of test was employed, using data from the Nigerian economy over the period 1970 to 2009. Results of the...
Abstract The study examined the efficient market hypothesis and Nigerian capital market in relation to information contained in dividend and bonus issues announcement to ascertain the speed at which the market adjust to all the relevant available information on share prices of the listed firms in the main board market. To estimate the speed of adjustment of daily share prices of 33 sampled firms listed in the market in semi-strong form, market model developed by Fama (1969) is employed. From ...
ABSTRACT This study analyzes the interactions between remittance inflows and human capital development: implication for economic growth in Nigeria. Using Nigeria most recent data set on remittances inflows, human capital development and economic growth this study investigated how remittances inflow influences education and health spending in Nigeria. To unravel this, we adopted an Autoregressive Distributed Lag (ARDL) model. We estimated an error correction equation due to the long-run nature...
ABSTRACT This study was carried out to test empirically if Nigeria’s pattern of production and trade is consistent with the Heckscher-Ohlin framework. It was necessitated by the fact that Nigeria is abundantly endowed with labour resources, fertile land, and good climatic conditions among others. In addition, there have been varying results among different existing studies of empirical evidence of the Heckscher-Ohlin framework in different countries of the world. Most of these studies showe...
ABSTRACT This study examined the relationship between exchange rate variations and migrants’ remittances to Nigeria. The time-series econometric method of Vector Error Correction (VEC) was applied to estimate the demand-supply equation for remittance transfers. An empirical model that links remittances to its potential determinants was specified and estimated using multivariate Johansen co-integration test and complemented by impulse response and variance decomposition analyses. The key res...
ABSTARCT The need to capture stock market and foreign exchange market nexus in Nigeria is underscored by the rapidly expanding financial markets integration due to trade and financial liberalization policies which seem to have enhanced the inflow of capital as well as accelerated investment/business interactions. Theoretically, the relationship between stock prices and exchange rate can be either positive or negative and can also run either way. This study therefore captures returns/mean and ...
ABSTRACT This work discusses the effect of human capital on labour productivity in manufacturing industries in Enugu and Anambra States. The study applied the ordinary least squares and the principal component Analysis in the estimation. The evaluation results show that human capital has a positive effect on the sectoral labour productivity level of the industry. Training, Education, Medicare and Research are strongly correlated with productivity. By all econometric standards the statistical ...
ABSTRACT Government expenditure is a very important fiscal tool used by policy makers to stimulate the economy. Therefore, the study of its determinants has led us to include energy consumption in this study. The study therefore, investigated the nexus between government expenditure and energy consumption in Nigeria covering a period of 1981-2013 under the frameworks of ARDL and VECM. Findings show that there is a long-run relationship among the variables. In addition to this, results of the ...
ABSTRACT This study was the brain child of the earnest desire to unravel the impact of the incessant fluctuating oil prices on two crucial sectors of the Nigerian economy; the agricultural sector and the industrial sector which used manufacturing sector as proxy. The analysis employed the unrestricted Vector Autoregressive methodology as its empirical technique, with a quarterly time series data spanning from 1987 quarter one through 2014 quarter four which covered 112 observations. The resul...
ABSTRACT The study examines the multidimensional aspect of poverty and living condition in Nigeria. The aim is to fill the vacuum that has been left by traditional unidimensional measures of deprivation based on poverty lines, exclusively estimated on the basis of monetary variables such as income or consumption expenditure. It combines monetary and non monetary, qualitative and quantitative indicators, including housing conditions, the possession of durable goods, with a number of composite ...
Abstract This work was motivated mainly by the need to support development policymaking and economic management in Nigeria with credible statistics and systematic evidence on the informal sector. This is because despite the wide range of informal sector economic processes and activities in Nigeria, current knowledge of the size, macroeconomic determinants, and revenue implications of the informal sector in Nigeria remain very scanty and inadequate. Hence, this research work was embarked upon ...
ABSTRACT Crude oil is one of the major natural resources that have contributed to the development of the Nigerian economy. It, however, poses great environmental and socio-economic challenges. As a result, the effects of oil exploration activities on the socio-economic wellbeing of host communities, like Ogoniland, have been of concern to the Nigerian government. Measurement of such socio-economic effects is an essential requirement for policy formulation and strategic planning for sustainabi...
ABSTRACT The ongoing demographic and epidemiologic transitions in Nigeria are some of the possible reasons why the prevalence of obesity is increasing in Nigeria. The economic impact of obesity in Nigeria may result to a decrease in productivity. Policies have been put in place by the Federal Government to reduce the prevalence of obesity in Nigeria. However, the nature and magnitude of policies put in place are important to note. It is based on this premise that this study investigates the s...
ABSTRACT Recent empirical literature has shown that several factors can expose households to risk, thereby making them vulnerable to poverty. These appear to be the major challenges many households face in developing economies. This study therefore investigates risk and vulnerability to poverty in Nigeria using the revised General Household post-harvest panel survey for Nigeria. One objective is to analyze the types of risks households face and to determine if urban and rural households are d...