ABSTRACT This research was mainly aimed at investigating the environmental impact of economic growth in Zimbabwe for the period 1985-2015. Various authors have expressed their views with regards to the determinants of environmental degradation with economic growth as the major player. CO2 was used as a proxy for environmental quality. Using the Ordinary Least Squares model, the researcher obtained that in the early stages of development, growth accelerates the rate of environmental quality lo...
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 The study seeks to investigate the causal linkage between financial development and economic growth of 14 Southern African countries over the period 2006-2015. The study utilises static and dynamic panel regression models with private sector credit ratio and broad money ratio as financial development indicators. Mixed findings are found in this study depending on the method used. There is, however, convincing evidence of causality running from financial development to economic growth...
ABSTRACT The research also examines the relationship between the ARDL procedure and the fully modified OLS approach of Phillips and Hansen to estimation of cointegrating relationship between all the variables, and economic growth, these results provide strong evidence in favor of a rehabilitation of the traditional ARDL approach to time Series econometric modelling. The ARDL approach has the additional advantage of yielding consistent estimates of the long-run co-efficient that is asympt...
ABSTRACT This study examines the interactive effects among road transport infrastructure development, economic growth and poverty level in Nigeria. This was with the view to providing empirical evidence on the linkages among road transport infrastructure, economic growth and poverty level. The study used secondary data. Annual time series data from 1980 to 2013 on road network, Real Gross Domestic Product (RGDP) and Real Consumption Expenditure per Capita were collected from Central Bank of N...
vi Abstract The misconception of services as being nonproductive has led to the neglect of the service sector in both economic theory and applied economic researches. The Nigerian economy highly depends on the oil sector to generate revenue for the entire economy. This study examines the response of economic growth to the dynamics of the service sector in Nigeria from the windows of governance indicators. Using annual data series, endogenous growth model and autoregressive distributed lag tec...
Abstract The existing studies on the relationship between government spending and economic growth provide inconclusive empirical evidence. This study examines the causal relationship between government spending and economic growth for the Namibian economy by employing general government (final) consumption expenditure and real Gross Domestic Product (GDP) data for the period 1980 to 2012. The study employs the pair wise Granger causality test, Co-integration test and Vector Error Correction ...
Abstract This study examined the causal relationship between Private Sector Credit Extension (PSCE) and Economic growth in Namibia. The study used the quarterly data covering the period from 2000:Q1-2017:Q4. The variables employed were Gross Domestic Product (GDP) growth, Private Sector Credit Extended, Broad Money Supply (M2) and lending rates. The study employed co-integration tests on different sets of variables used to examine long run relationship. Granger causality tests established the...
ABSTRACT The objectives of this paper are to: examine whether there is a long-run relationship between financial development and economic growth in Namibia and hence determine the direction of causality as well as the implications of such results for a financial sector policy- oriented growth in the economy. In order to test for the existence of long run relationship between the variables, the study employs a cointegration and error correction modeling (ECM) technique. The study uses quarterl...
ABSTRACT This research examined the impact of value added tax (VAT) on economic growth of Nigeria. The aim of this study is to examine the contributions of the VAT in the economic growth of Nigeria. Data used in this study was mainly from secondary source principally the Central Bank of Nigeria and the Bureau of Statistics. The study employed a time series date for a twenty year period 1995 – 2014. The data was analyzed using the regression statistical model. The model assisted in testing...
ABSTRACT The study investigated the relationship between balance of payments and economic growth for Namibia using quarterly time series data over the period 1999q1to 2018q2. The variables used include real gross domestic product, balance of payments, real exports, real effective exchange rate, net foreign capital inflow and terms of trade. This study employed time series techniques such as unit root and cointegration. The Bounds co-integration analysis and Autoregressive Distributive Lag (AR...
ABSTRACT This paper investigates the Granger causality between agricultural exports and economic growth in Namibia over the period 1998 – 2016. The study used the simple pairwise Granger causality to determine the existence of such a relationship. An Augmented Dickey-Fuller (ADF) test was used to test for stationarity. The results of the study found that there was no causality running from either economic growth or agricultural exports as both variables are independent. Based on the finding...
ABSTRACT The study investigated the relationship between economic growth, exports, and FDI in Namibia using quarterly data for the period of 1980:Q1 to 2013:Q4. The Autoregressive Distributed Lag approach to cointegration was used to carry out the study. The study used foreign direct investment (FDI) inflows as a proxy for FDI, export values as a ratio of GDP as a proxy for Exports, and Real Gross Domestic Product as a proxy for economic growth. The results from the study found that economic ...
ABSTRACT The study investigates the relationship between financial development and economic growth in Namibia. It employed an auto-regression distributive lag modelling approach on quarterly data for the period 1995 to 2014. The study used the following variables, namely: ratio of broad money supply to gross domestic product, real gross domestic product (GDP), saving and interest rate. Firstly, the results of the unit root tests showed a combination of integration of order zero and one. Secon...
ABSTRACT The study sought to examine the impact of free zones exports and free zones investments on economic growth in Ghana. The quarterly time-series data used for this study covered the period 1998 to 2015. Having identified unit roots in our endogenous variables, the Johansen cointegration test was conducted and it came out clear that our three endogenous variables of GDP, free zones exports and free zones investments were cointegrated and this enabled us to use the vector error correcti...