There is a dilemma between the current call for a private sector led economic growth process for a reduction in government participation in the Nigerian economy, and the call for government domination in the economy. Government expenditure represents an important policy instrument through which an enabling environment can be created for a greater private sector participation in the economy. However, against the background of deepening economic crises that began in the 1980s following the ...
It is key and expedient to quickly recall that, the Reveal Preference Hypothesis was given by Paul Samuelson which is a major breakthrough in the demand theory. In line with the breakthrough, it is often and highly celebrated because of its intended advantage in the derivation of the demand theory without the use of the indifference curve as in the case of the ordinal world.
The Ricardian model is a simple picture of international trade between nations ,which was created to show comparative advantage in producing goods and the gain from trade. The concept of comparative advantage was introduced by David Ricardo in 19th century. The country has comparative advantage in producing if it can produce at a lower cost than any other country .The Ricardian model has been developed on the following assumptions: · Only two countries are involved in activitie...
From the knowledge of macroeconomic model, it is overtly true that, government expenditure is one of the components of aggregate demand. Going by this, its impact cannot be easily ignored or relegated with negligence. This is simply because; no economy has ever survived with zero emphases on this variable.
The main objective of this paper is to evaluate the various empirical test of the Ricardian comparative advantage model that were put in place by different researchers to ensure its validity in reality.
This paper investigates whether interest rate influence demand for money in Ghana using annual time series from 1980 to 2016. Demand for money is measured by broad monetary aggregate (M2+) whilst the rate of interest is proxied by the 91-day Treasury bill rate. Other variables included in the study are real income, inflation and exchange rate. The bounds testing approach to cointegration within the autoregressive distributed lag (ARDL) framework is employed as the estimation technique. The re...
CHAPTER ONEINTRODUCTION1.1. Background of StudyForeign Direct Investment (FDI) plays a very important part in the industrial growth ofdeveloped and underdeveloped countries and help to boost economic growth (United NationsIndustrial Development Organization, 2009). The International Monetary Fund (IMF) Balance ofPayment Manual describes FDI as an investment made to secure a perpetual share in a businessorganization taking its �...
The present study investigated the existence of asymmetry in exchange rate pass-through to consumer prices in Nigeria by collecting monthly data over the period of 2001 to 2015 from various sources. Owing to the absence of a long-run relationship, results showed that, over the short term, consumer prices in Nigeria have adaptive expectations; the case of imported inflation was also found; partial/incomplete exchange rate pass-through was found over the short term and the pass-through estim...
ABSTRACT The study on the impact of budget deficit on economic growth in Nigeria employed time series data within the period of 34 years (1981-2015). The data was sourced from central Bank of Nigeria (CBN), National Bureau of statistics (NBS) and World Bank: World Development indicators. The series was subjected to unit root test of both ADF and PP test and was found stationary, some at level and others at first difference. The researcher further tested for short run and long run relationship...
This study was conducted to examine the effect of oil price fluctuations on the price of selected agricultural commodities in Nigeria using time series data sourced from Central Bank website, United States Energy Information Administration (E.I.A) website and Food and Agricultural Organization Statistics (FAOSTAT) between January 2000 and December 2015. The variables employed include oil price, exchange rate, the price of agricultural commodities (rice, wheat, soybean, palm oil). The Non-Line...
ABSTRACT The study was carried out to determine the influence of Foreign Direct investment (FDI) and Domestic investment (DI) on the economic growth of Nigeria. The study employed Augmented Dickey-Fuller test to test for time series property of the data. Johansen co-integration was also examined and consequently error correction model was employed. Ordinary Least Square (OLS) method was used in the data analysis. Findings show that indeed FDI impacts significantly on economic development. It ...
Population growth and its interaction with food security and economic growth is the crux of the matter in this study. It has been documented that Nigeria is experiencing very high population growth rate due to aggravating high birth rate and plummeting death rate. The extent to which population growths affect food security and economic growth was therefore examined. Using time series data pooled from 1981 to 2016, tested for stationarity, co-integrated and corrected for error, the study obser...
This work examines the impact of external debt flow on Nigerian economic growth. CHAPTER ONEINTRODUCTION1.1 BACKGROUND TO THE STUDYA very crucial goal for any reasonable government is to attain a sustainable economicgrowth. To attain this vital goal it may have to finance crucial infrastructure projects and to investin development of productivity. As the result of productive investments, a country shouldexperience growth in its economy and a rise in the level of GDP. However, most developed a...
This study examines the impact of foreign aid on human capital development in Nigeria between the periods of 1981-2016. Secondary data were collected from CBN statistical bulletin and World Bank indicators. The variables used were Official development assistance, gross capital formation, foreign Direct Investment and labour force with human development index as the dependent variable. The overall or general objective of this research work is to investigate the impact of foreign aid on human ...
This research work tries to examine the significance of agriculture production on economic growth in Sierra Leone. It empirically explored the agriculture and economic growth nexus in Sierra Leone. The objective of the study is to examine the place of agriculture in the economic growth and development of Sierra Leone. Using least square method, data collected were secondary data and the durbin-watson t-statistics were used in the regression analysis. The study shows that agriculture productio...