ABSTRACT Most developing nations have embarked on various reforms that foster the use of telecommunications in their economies. The reforms tend to yield little or minimal benefits to economic growth and development, especially when compared with developed countries of the world. Technological advancement is known for its fast rate of economic development. In Nigeria, policy on the adoption of information and communication technologies was initiated in 1999, when the civilian regime came into...
ABSTRACT This study was motivated by the growing concern on the impact of Institutional Quality on economic outcomes. The study focused specifically on the Nigerian Stock Market due to its critical role in the economy as a vehicle for efficient resource allocation. The Autoregressive Distributed Lag (ARDL) bounds testing procedure is employed using data from 1985 to 2012. The study used the ARDL model to ascertain the long-run impact of institutional quality on stock market development in Nig...
ABSTRACT Income inequality is one of the major underdevelopment problems facing developing countries including Nigeria. Despite serious attention given to inequality in both theoretical and empirical literature, it is still understudied in the case of Nigeria because most empirical studies overaggregate analysis. This study departs from existing studies in two ways. First, the study disaggregates household consumption expenditure into food and nonfood and thus decomposes inequality into withi...
ABSTRACT Real exchange rate affects production, employment and trade as a result it is important to understand the factors responsible for its variation. This study analyses the determinants of the real exchange rate and the dynamic adjustment of the real exchange rate following shocks to those determinants, using annual Nigerian data covering the period 1975 to 2010. It begins with a review of literature on the determinants of the real exchange rate. Contrast to previous analyses, this study...
ABSTRACT Nigerian economy has been skewed towards a mono-economy with much reliance on the oil sector. However, with the fall in global oil price, there is now a shift of interest to a more promising sector capable of liberating the economy. This study is centered on private sector access to credit and manufacturing output in Nigeria. The study utilized quarterly time series data from 1981 to 2015. The key objectives of the study were to determine the impact of private sector access to credit...
ABSTRACT This study provides empirical evidence linking Nigeria’s public health spending to maternal mortality using panel data analysis. The relationship is examined using panel data from 25 states in Nigeria between 2003 and 2008. Public health expenditure has a statistically significant effect on maternal mortality only in 2008 showing improvements in the effectiveness of public health expenditures. The findings of the study are in consonance to those reported in the literature. Apart fr...
Abstract: This study examined the influence of government budget deficit on economic performance in Nigeria. The study captures government budget deficit with budget deficit ratio (Bdr) and economic performance with real domestic product (RGDP). Budget deficit ratio measures the ratio of Nigeria’s national debt to its gross domestic product while real GDP measures the value of economic output adjusted for price changes. To estimates the influence of government budget deficit on economic per...
ABSTRACT Effectiveness of monetary policy in stimulating economic growth This study investigates the effectiveness of monetary policy in stimulating economy growth in Nigeria using AK production Function and Vector Autoregressive (VAR) model. The empirical evidence depicts that economic growth in Nigeria is influenced by money supply, electric power consumption, gross fixed capital formation and trade openness. This shows that monetary policy is effective in maintaining economic growth on the...
ABSTRACT This study investigates the effectiveness of monetary policy under flexible exchange rate regime in Nigeria using Ordinary Least Square approach. Quarterly time series data spanning 1980:1 – 2008:4 are used in this work. The study examines stochastic characteristics of each time series by testing their stationarity using Augumented Dickey Fuller (ADF) test. This is followed by performing co integration test using Augmented Engle-Granger (AEG) technique. The results of the cointegra...
ABSTRACT The study was motivated by the continuous rise in the poverty level in Nigeria amidst the country’s vast human and material resources that can guarantee sustainable economic growth and development and also the pervasive gender inequality that persists among households. It is on this premise that this study assessed Millennium Development Goal (MDG) with special focus on goal one and goal three, and implications for Sustainable Development .The study was guided by five research obje...
ABSTRACT The study investigates relative impact of financial sector reforms on agricultural and manufacturing sector growth in Nigeria. To guide the study, Ordinary Least Square technique was adopted and Eviews 8.0 econometric software was utilized for the analysis. A time series quarterly data sourced from Central Bank of Nigeria Statistical Bulletin 2009 and 2013and it covered the period 1970-2013 was used for the analysis. After carrying out necessary pre- and post diagnostic test, the res...
ABSTRACT Liberalization is part of the ongoing domestic market reforms and globalization policies that redefined government responsibility and actions, which affect agricultural development, and the welfare of farmers. This study examined hectarage and output responses of major crops to market liberalization, price risk and financial support. The objectives were to describe trends of output, hectarage and prices of these crops, as well as describe trends of non-price factors and estimate the ...
ABSTRACT The issue of poverty is posing serious threat to the development of the Nigerian economy. Growth was seen as the driving force for poverty reduction by studies carried out in the 1980s. But, recent attention has now been shifted to the role of income distribution in reducing poverty since the yield of growth may not be equally shared and poverty not reduced. However, a distinct conclusion is yet to be established on the role of inequality in poverty reduction. Analysis on Poverty gro...
ABSTRACT Fluctuation in exchange rate has been a recognized catalyst that brings about change in other macroeconomic indicators. This phenomenon was underscored by series of mechanisms through which economic activities of a given country reflect on its exchange rate to other international currencies. In order to assess the empirical influence of rising fluctuation in exchange rate, this study focused on the impact of exchange rate volatility (EXV) on selected macroeconomic variables in Nigeri...
ABSTRACT Health status in recent times has been a major concern for developing and under-developed economies. This results from the fact that a healthy population increases labour force participation, productivity and output levels. Poor health has negative effect on participation rate and output. This study examined the effect of health status on labour force participation, across gender and age groups, in Nigeria. An estimation technique to be used is the logistic binary model. Data for the...