Nigeria is the largest economy in Africa; in 2013 its population was in excess of 170 million, with GDP of over US$500 billion (World Bank 2014). The continent’s biggest oil exporter is also home to large natural gas reserves. The economy has recorded considerable acceleration in growth; real GDP grew by 6.3 per cent, 7.6 per cent, and 7.4 per cent in 2009, 2010, and 2011 respectively. Despite this, poverty is persistently high, and the structure of the economy is that of a typically under...
This paper examined the dynamic interaction among business cycle, macroeconomic variables and economic growth in Nigeria between 1986 and 2014. The study employed the vector auto regression technique (VAR) to investigate the business cycle effect on economic growth and its interaction with government expenditure and money supply in Nigeria during the study period. Quarterly time series data between 1986 and 2014 was used for the study. Data on the real gross domestic product (RGDP), nominal g...
Poor governance in Sub-Saharan Africa has been a major hindrance to economic growth of the region compared to other regions in the rest of the world. To examine the influence of governance on economic growth of Sub-Saharan Africa, panel data on growth rate of Gross Domestic Product, governance indicators and other indicators of the three selected Sub-Saharan Africa countries namely Nigeria, South- Africa and Ghana for the period of 1996-2015 were sourced from World Development Indicators of t...
This article provided us with a simple, but very powerful framework to understanding how a sustainable economic growth can be actualized. Within the confines of this rational work, it was shown that agro based economy, on the long run, will not lead to a sustained economic growth while industry based economy will foster sustained economic growth. This is because industry based economy is being supported by the process of ‘capital accumulation’. Though this article showed evidence that in...
This paper examined the impact of deposit money bank agricultural credit on agricultural productivity in Nigeria using an error correction model and annual time series data for the period 1981-2014. The results indicate that an equilibrium relationship exists between the variables. In addition, we find that deposit money bank’s agricultural credit impacts positively and significantly on agricultural productivity in the long-run, but this impact is quite negligible in the short-run. We al...
Abstract: The relation between economic growth and unemployment is being studied throughout a diverse set of contributions over the last years. Taking into account the current economic situation, this topic is regaining attention amongst economists essentially due to the importance of this relationship as a way to overcome the high unemployment rate that has been characterizing the Nigerian labour market. This paper examined the relationship between unemployment rate and economic growth ...
This paper analyses India’s export performance and changes in its composition over time also identifies India’s main export and import commodities and investigates the relevance and competitiveness of these commodities in major export and import markets. It finally highlights key policy changes which could impact local production as well as international demand for these exports and import.
Abstract This paper is aimed at examining the role played by microfinance banks towards the promotion of entrepreneurship in semi urban and rural areas of Nigeria, it will also identify the challenges facing the microfinance banks. Data used in the study is gathered through the use of documentary research where by information is obtained from published sources such as the publications of the Central Bank of Nigeria (CBN), the National Bureau of Statistics, as well as other published sourc...
ABSTRACT The behavior of stock market returns is a central issue to the theory and practice of asset pricing, asset allocation, and risk management. The supporters of the Efficient Market Hypothesis claim that stock price indices are basically random and as such any speculation based on past information is fruitless. These papers investigate the Random Walk (RW) behavior of stock market return of Rwanda. The naïve random walk model was estimated using Ordinary Least Squares (OLS) method ove...
One of the most difficult tasks of man throughout his history on earth has been his quest to understand himself, his relationship with his fellowmen and the environment in which he lives. In this apparent unending endeavor of man to change himself from a state he consider bad to good, and from good to better. mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-ansi-language: EN-US;mso-fareast-language:EN-US;mso-bidi-language:AR-SA">It is of truism that man’s primary...
Introduction and Background The computer service industry can be broken down into several categories ranging from reseller to consultant. Entré Computers / Executive Business Machines Inc. (EBM) was a sales and service organization for typewriters at its inception in 1972. However, as the corporate market shifted its needs from typewriters to word processors to personal computers, so did EBM change its product line to meet that demand.
Since the mid 1960s, Pacific Asia has had a remarkable rate of economic growth. This growth has been sustainable and faster than all other regions of the world (see fig. 1). This region consists of twenty-three economies but it was just eight who caused most of this amazing growth. The eight were Hong Kong, the Republic of Korea, Singapore, Taiwan, China, (the “Four Tigers”) Japan and the newly industrialised economies (NIEs) of south-east Asia, Indonesia, Malaysia, and Thailand. The eigh...
The manager of Quality Parts Company has been contemplating installing an automated ordering system to help control inventories and to "keep the skids filled." (She feels that two days of work in front of a workstation motivates the worker to produce at top speed.) She is also planning to add three inspectors to clean up the quality problem. Further, she is thinking about setting up a rework line to speed repairs. Although she is pleased with the high utilization of most of her equipment and ...
The article Digital Technology and Institutional Change from the Gilded Age to Modern Times: The Impact of the Telegraph and the Internet describes the difficulties that exist when trying to create an accurate economic model showing responses to new, economy changing, technologies. The author Ronnie Phillips mainly focuses on institutional economics and, by showing the history of other technological advances, the need for institutional analysis. He explains how the challenge is to explain soc...
EVOLUTION OF MICROECONOMICS Microeconomics is the study of the behaviour of individuals and small impacting organisations in making decisions on the allocation of limited resources. The modern field of microeconomics arose as an effort of neoclassical economics school of thought to put economic ideas into mathematical mode.