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Articles 1 - 16 of 16
Full-Text Articles in Social and Behavioral Sciences
Implications Of The African Continental Free Trade Area For Nigeria’S Economic Growth, O. S. Aigheyisi, M. A. Iyoha
Implications Of The African Continental Free Trade Area For Nigeria’S Economic Growth, O. S. Aigheyisi, M. A. Iyoha
Economic and Financial Review
The objective of this paper is to examine the effect of intra-African Trade on Nigeria’s economic growth from 1981 to 2019. To achieve this, the ARDL modeling technique is employed to investigate the short-run and long-run effects of intra-African trade on Nigeria’s economic growth. The study finds that though the short-run effect is positive but not significant; the long-run effect is significantly positive, and robust to alternative estimation techniques. This suggests that expansion of trade among African countries, which is expected to result from the full implementation of the African Continental Free Trade Agreement (AfCFTA), would have positive growth effect …
Budget Deficit And Economic Growth In Nigeria, A. D. Umaru, H. M. Aliero, M. Abubakar
Budget Deficit And Economic Growth In Nigeria, A. D. Umaru, H. M. Aliero, M. Abubakar
Economic and Financial Review
This paper examines the relationship between budget deficit and economic growth in Nigeria, from a linear and non-linear perspective, using annual time series data from 1981 to 2019. The linear model, which involves the use of an autoregressive distributed lag (ARDL) approach, was compared with a non-linear analysis, using a threshold autoregressive (TAR) model. The ARDL analysis reveals that the growth of national output is positively driven by the persistent budget deficit in Nigeria. This was substantiated by the TAR model which indicates that though budget deficit drives economic growth in Nigeria, the positive relationship holds only if the deficit …
Current Account Balance And Economic Growth In Nigeria: An Empirical Investigation, G. K. Sanni, A. U. Musa, Z. Sani
Current Account Balance And Economic Growth In Nigeria: An Empirical Investigation, G. K. Sanni, A. U. Musa, Z. Sani
Economic and Financial Review
This study examined the relationship between current account balance and economic growth in Nigeria. Auto Regressive Distributed Lag (ARDL) Bounds Testing methodology was employed to investigate the relationship, using annual data spanning from 1970 – 2016. The study found a long-run relationship between the current account balance, the real gross domestic product (GDP) growth and bilateral real exchange rate in Nigeria. The positive relationship between real GDP growth and the current account balance implies that increase in real GDP growth would lead to an improvement in the current account balance. However, the study found a negative relationship between real exchange …
Determinants Of Nigeria's External Sector Competitiveness, O. Duke, M. Yakub, M. Nakorji, B. Gaiya, F. Isma'il, Z. Sani, S. Zimboh, T. Obiezue, O. Asuzu, V. Aliyu
Determinants Of Nigeria's External Sector Competitiveness, O. Duke, M. Yakub, M. Nakorji, B. Gaiya, F. Isma'il, Z. Sani, S. Zimboh, T. Obiezue, O. Asuzu, V. Aliyu
Economic and Financial Review
The study investigated the determinants of Nigeria's external competitiveness, with a view to providing sound policy prescriptions on ways to improve competitiveness. The study employed an Autoregressive Distributed Lag (ARDL) model, using monthly data spanning 2008 to 2016 to determine the short- and long-run relationships among some selected macroeconomic variables. These included real effective exchange rate, exports, productivity, crude oil price, capital flow and consumer price index. The results from the short-run analysis revealed that productivity, proxied by government expenditure, and crude oil price were found to be the major determinants of external sector competitiveness in Nigeria, while CPI was …
Government Size And Economic Growth In Nigeria: A Test Of Wagner's Hypothesis, M. Y. Dogo, U. M. Okpanachi, A. A. Muhammad, C. V. Umolu, K. J. Ajayi
Government Size And Economic Growth In Nigeria: A Test Of Wagner's Hypothesis, M. Y. Dogo, U. M. Okpanachi, A. A. Muhammad, C. V. Umolu, K. J. Ajayi
Economic and Financial Review
This paper attempts an empirical validation of Wagner's law in Nigeria using quarterly data for the period 1982 to 2012. The hypothesis that real income does not Granger-cause government expenditure was rejected. Adopting the Fully Modified Ordinary Least Square (FMOLS) regression techniques, the study found support for the Wagner's hypothesis in Nigeria. The analysis provided empirical evidence to support the existence of a long-run equilibrium relationship between economic activity and government expenditure in Nigeria. Overall, the results corroborated the Goffman's version of the Wagner's law in Nigeria. Thus, government needs to create fiscal space to enable deployment of more resources …
Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi
Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi
Economic and Financial Review
The keynote address delivered by the Governor, Central Bank of Nigeria at the Executive Seminar on "Financial Sector Development, Economic Growth and the Nigerian Economy" for CBN executive staff held in Eko Hotel and Suites, Victoria Island, Lagos State, May 7-10, 2012
Special Remarks By Sarah O. Alade, Ph.D (Mrs), Sarah O. Alade
Special Remarks By Sarah O. Alade, Ph.D (Mrs), Sarah O. Alade
Economic and Financial Review
Special remarks made by the Deputy Governor, (Economic Policy), Central Bank of Nigeria at the Executive seminar on "Financial Sector Development, Economic Growth and the Nigerian Economy" for CBN executive staff on May 7-10, 2012.
Financial Sector Development And Economic Growth: A Theoretical Exposition, Peter N. Umoh
Financial Sector Development And Economic Growth: A Theoretical Exposition, Peter N. Umoh
Economic and Financial Review
The various literature and studies reviewed in this exposition have underscored the positive impacts of a developed financial sector on an economy. Whilst a few studies showed that finance follows growth, the majority opinion is that finance leads growth. Unfortunately, growth has not led to economic development in many developing economies, necessitating intervention by such bodies as the United Nations, International Labour Organization and United Nations Development Programme. Economists are equally concerned about this development and have, therefore, conducted studies to show the relationship between economic growth and poverty alleviation. They generally agreed that growth is good for poverty reduction.
Policy Choices And Challenges In Expanding Access To Finance For Growth In Rural Nigeria, Anthony E. Akinlo
Policy Choices And Challenges In Expanding Access To Finance For Growth In Rural Nigeria, Anthony E. Akinlo
Economic and Financial Review
Access to finance, in general, is fundamental to growth and development. A well-functioning financial market assists in channeling funds to their most productive uses, and allocates risks to those who can best bear it. An efficient financial sector that responds to the needs of the private sector increases investment, enhances economic growth, creates job opportunities and improves income distribution.
Finance For Growth And Policy Options For Emerging And Developing Economies: Nigeria, Wumi Olayiwola, Henry Okoduwa, Evans Osabuohien
Finance For Growth And Policy Options For Emerging And Developing Economies: Nigeria, Wumi Olayiwola, Henry Okoduwa, Evans Osabuohien
Economic and Financial Review
This paper attempts to address the issues of the major impediments to mobilising investment funds, and the appropriate policies for achieving and guaranteeing finance for growth, by assessing the performance of financial policies of selected EMEs in mobilising financial resources for economic growth, and identifying policy options necessary for achieving finance for growth. The rest of the paper is organised as follows. Section 2 discusses the basic characteristics of emerging economies (EMEs), and Section 3 positions Nigeria among the EMEs within the context of finance for growth. Section 4 deals with challenges and constraints of Nigeria in achieving finance for …
Monetary Policy And Economic Growth: Theoretical And Conceptual Issues, D. G. Omotor
Monetary Policy And Economic Growth: Theoretical And Conceptual Issues, D. G. Omotor
Economic and Financial Review
This article seeks to address the relationship between monetary policy and economic growth by enunciating the conceptual and theoretical issues that relate to monetary policy and economic growth. The paper is divided into five sections. Following the introduction in section 1, section 2 discusses the objectives of monetary policy. The monetary transmission mechanisms are schematically explained in section 3. Section 4 reviews the performance assessment of monetary policy and its framework in Nigeria. The constraints of monetary policy management in Nigeria are espoused in section 5. The final section concludes the paper.
The Persistence Of Corruption And Slow Economic Growth By Paolo Mauro Imf Staff Papers: A Review, A. U. Musa
The Persistence Of Corruption And Slow Economic Growth By Paolo Mauro Imf Staff Papers: A Review, A. U. Musa
Economic and Financial Review
The author listed two classical corruption practice that has impeded on economic growth i.e. (i) the individual bureaucrat who allocates his labour services between productive activity and theft of government resources in a classical case of portfolio adjustment and (ii) the corrupt politician who sets a bribe collection system (a bribe rate) with the maximization of utility as his goal vis-Ã -vis similar decisions by fellow politicians.
Economic Growth And Human Capital Development: The Case Study Of Nigeria, Moses F. Otu, Adeniyi O. Adenuga
Economic Growth And Human Capital Development: The Case Study Of Nigeria, Moses F. Otu, Adeniyi O. Adenuga
Economic and Financial Review
The paper examines empirically the relationship between economic growth and human capital development using Nigeria data. Microeconomics variables such as Growth of real gross domestic products (RGDPG), capital expenditure (CE) on education. recurrent expenditure on education (RE), real gross capital formation (RGCF) was used to proxy physical formation, enrolment into primary (PRYE), post-primary (PPE) and tertiary (TERE) educational institutional were used to proxy human capital development. It found that investment in human capital, through the availability of infrastructure requirements in the education sector accelerates economics growth.
Nigeria's Economic Growth: Performance And Determinants, Essien Abel Essien
Nigeria's Economic Growth: Performance And Determinants, Essien Abel Essien
Economic and Financial Review
in this paper some recent developments in time series econometrics, which is of great potential for extending the frontier of economic research is applied to Nigerian data in order to estimate a production function type equation as well as examine the key macroeconomic determinants of economic growth in Nigeria. Of particular application is the vector error correction modelling technique. Apart from the determination of criteria for selecting the lag length, the paper also explored variance decomposition and effect of shocks through the impulse response function. Results from the econometric analysis revealed that output was elastic to capital injection in the …
Economic Growth And Foreign Debt: A Case Study Of Nigeria, J. O. Ashinze, E. A. Onwioduokit
Economic Growth And Foreign Debt: A Case Study Of Nigeria, J. O. Ashinze, E. A. Onwioduokit
Economic and Financial Review
In this study, a macro-economic model is used to examine the relationship between external debt and economic growth in Nigeria. The study has established empirically that foreign credit only contributed positively to growth between 1988 and /992 when the resources mobilized externally were used in directly productive activities. However, between 1979 and /987 as well as the period /993-/994, there was a negative relationship between foreign capital and growth. Among other factors, policy inconsistencies, drying up of external assistance and political instability were identified as the main factors that militated against foreign credit-induced growth of the Nigerian economy.
Africa's Adjustment And Growth In The 1980s: The World Bank And The Undp; Charles Humphreys And Williams Jaeger & C0., 31pp., March 1989, H. N. Okonta
Economic and Financial Review
The paper, "'Africa's Adjustment and Growth in the 1980s" was written by a team led by Charles Humphreys and William Jaeger of the World Bank. They reviewed on Sub-Saharan Africa's economic experience in the 1980s from a new perspective as against that which was generally perceived as one of crisis and decline caused largely by hostile external factors. The paper was divided into six parts. Part one is an overview of the causes that led to the region's current problems. Sections 2, 3 and 4 analytically dis,:uss the developments in trade and commodity prices, the international community's response with more …