ABSTRACT The Central Bank of Nigeria (CBN) has pursued among other goals, low and stable domestic price level and output growth using various monetary policy instruments. Despite these efforts, output growth rate averaged 1.32% between 1980 and 1989 and 2.87% between 1990 and 1999. Also, the monetary authority’s inflation rate target of 5.00% in 1992 and 31.00% in 1995 escalated to 44.59% and 72.81% respectively. There has been limited attempt to investigate the channels through which mone...
ABSTRACT Nigeria‘s dependence on food and refined oil importations makes households vulnerable to price shocks of these commodities. While there is a growing body of empirical literature on the consequence of international commodity price shocks, there is little attempt to investigate their effects on households. This study, therefore, examined the effects of international price shocks to food and refined oil on household income and consumption in Nigeria. A recursive-dynamic computable ge...
ABSTRACT The study investigated the relationship between foreign direct investment and economic growth in Liberia. The Autoregressive Distributed Lag approach to cointegration was used with annual data from IMF Statistics 2009 CD ROM, WDI. Capital was disaggregated into foreign direct investment and domestic private investment for a more comparative analysis of their impacts on economic growth. Economic growth was measured by real GDP, Foreign Direct investment (FDI) was measured by Net FDI...
ABSTRACT Repeat borrowing is essential for long term financial sustainability of Microfinance Institutions (MFIs). This long term financial sustainability is threatened by high client exit, that is, premature termination of the borrowing relationship. In view of the above, the purpose of this study is to investigate the reasons for clients exit and to determine the factors that influence the length of the MFI-client borrowing relationship. A duration model (semiparametric model) is used to em...
ABSTRACT Healthcare seeking behaviour among household members often depends on the decision-making structure and headship of the household. In Nigeria, the male is assumed to be de-facto head who takes daily socio-economic household decisions that relate to financial allocations. The implication of this is a possible gender bias in the decision-making and outcomes. While gender bias has been examined within households in Nigeria generally, its incidence and influence on healthcare needs, uti...
ABSTRACT Exchange rate basically influences a currency value of an economy. As such it plays a critical role in international trade as well as economic growth and development for every economy. The study sought to investigate the impact of earnings of cocoa and non-traditional exports on real exchange rate in Ghana. Using a disaggregated data for exports, annual time series data were interpolated into quarterly series over the sample period 1990Q1 to 2011Q4. Johansen cointegration test and ...
ABSTRACT The importance of economic and political institutions to economic growth has been demonstrated in the literature. However, little is known on how such institutions impact on growth and what determine the quality of economic institutions in Africa. Therefore, this study was aimed at examining the impact of economic and political institutions on growth as well as the impact of political transition on the quality of economic institutions. Game theory was used to develop a political ec...
ABSTRACT The study examines the relationship between food security and trade liberalization in the context of Ghana using time series data from 1986 to 2016. The sum of imports and export over GDP is used as the key variable to measure the trade liberalization of the economy. Other than the key variable of trade liberalization, the study employs five variables namely food production index, consumer price index, real GDP, arable land, and reserve of foreign exchange to assess their effect on ...
ABSTRACT The importance of the construction industry cannot be overemphasized because of its strong linkages with other sectors of the economy. Despite this, the empirical literature on the non-linear (Bon curve) relationship between construction expenditure and economic growth remains unclear and hence, leave much space for further engagements. Therefore, this study seeks to find answers to these questions: Does construction expenditure matter in economic growth, and does the Bon curve hold ...
ABSTRACT This study investigated the relationship between economic growth and financial deepening for the case of Ghana using quarterly data from 1983 to 2008. Whereas financial deepening was proxied by credit to private sector/GDP and broad money/GDP, economic growth was measured by real GDP per capita. Other variables included gross fixed capital formation/GDP, interest rate and government spending/GDP. Employing the Johansen cointegration approach, vector error correction, vector autoregre...
ABSTRACT A complementary food was developed from the vitamin A rich orange fleshed sweet potation to help reduce vitamin A deficiency among infants. Experimental research design was used for the study. Fifty six infants of ages 6-24 months were purposively sampled, together with their mothers, to evaluate 3 complementary food samples code named GAD, PEA, SAB and a control KAN. A questionnaire was used to collect data. The samples were formulated from orange fleshed sweet potato, anchovies, on...
ABSTRACT The study sought to empirically examine the effects of real exchange rate on priceincentive to smuggle and the effect of price-incentive to smuggle on cocoa beans export in Ghana. Autoregressive Distributed Lag model (ARDL) was employed in analyzing the data. The study used secondary data from 1986 to 2016, gathered from sources including the Food and Agricultural Organization, World Development Indicators, Institute of Statistical, Social and Economic Research, and the Internationa...
ABSTRACT This study empirically examines the relationship between stock market performance and economic growth in Ghana using quarterly time series data from 1991 to 2012 for four stock market performance indicators, namely; stock market capitalization ratio, stock market turnover ratio, total value traded ratio and the Ghana Stock Exchange market index with three other control variables. The study employed the Johansen and Juselius (1990) multivariate co-integration technique and vector err...
ABSTRACT The study examined the effect of public expenditure on unemployment in Ghana using annual data for the period 1980 to 2016 by employing Autoregressive Distributed Lag (ARDL) approach to cointegration. The study revealed that there is an inverse relationship between government consumption expenditure and unemployment rate. However, government capital expenditure and unemployment rate were found to be positively related. The study therefore established that the threshold of government...
ABSTRACT The Current Account Balance (CAB) of Sub-Sahara African (SSA) countries is characterised by persistent deficits, averaging -7.3%, -3.4%, and -2.4% as a percentage of Gross Domestic Product in 1981, 1995 and 2009, respectively. While there is a growing body of empirical literature on the determinants (focusing specifically on Real Exchange Rate (RER), external debt, Terms of Trade (TOT), among others) of deficit in the CAB, little attention has been devoted to the role of fiscal poli...