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Full-Text Articles in Macroeconomics
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Bullion
This study investigates the relationship between financial deepening and socioeconomic development in Nigeria. The specific objectives examined the impacts of broad money supply, private sector credit and financial openness on human development index in Nigeria from 1991 to 2018. Time series data on each of the variables were analyzed using Fully Modified Least Squares and Granger Causality test. The unit root test results revealed that all the variables in the model became stationary after first difference and are all I (1). The cointegration test result revealed that the variables had long run relationships. The cointegrating regression result indicated that broad …
The Role Of Agriculture In The Economic Diversification Of The Nigerian Economy: (1980 – 2016), Adamu Hassan Muhammad, Tahir Hussaini Mairiga, Iliya Ayuba Thompson, Usman Ismaeel Bello
The Role Of Agriculture In The Economic Diversification Of The Nigerian Economy: (1980 – 2016), Adamu Hassan Muhammad, Tahir Hussaini Mairiga, Iliya Ayuba Thompson, Usman Ismaeel Bello
Bullion
This study empirically examines the role of agriculture in the diversification of the Nigerian economy, using time series data from 1980–2016. Estimation results using Cointegration and Vector Error Correction Technique indicate that agricultural output has a positive relationship and significant impact with non-oil exports (NOE) and that non-oil revenue has a positive relationship with non-oil exports (NOE). It was recommended that, government should endeavor to increase agricultural productivity by improving its expenditure on the sector so as to enhance the growth of the economy. Government should also increase its non-oil revenue and revive the sector through sufficient budgetary allocation and …
Efficiency Gain Argument Of Fiscal Federalism And Economic Growth: Evidence From Five Selected Developing Federal Economies, Hyacinth E. Ichoku, Walter O. Ugwuoke
Efficiency Gain Argument Of Fiscal Federalism And Economic Growth: Evidence From Five Selected Developing Federal Economies, Hyacinth E. Ichoku, Walter O. Ugwuoke
Bullion
This paper investigated efficiency gain argument of fiscal federalism and economic growth with evidence from five selected developing federal economies. The curiosity is to ascertain whether the efficiency gain –the fundamental argument why countries adopt fiscal federalism is justified in these economies. The paper uses stochastic frontier model to achieve this objective. The evidence from the selected developing federal economies revealed diverging results. While in Nigeria, Ethiopia and India there is more expenditure decentralization than revenue decentralization suggesting that efficiency gains from fiscal federalism may remain elusive, in Brazil and South Africa there is more revenue decentralization than expenditure decentralization …
Education, Inclusive Growth And Development In Nigeria: Empirical Examination, Emmanuel Onwioduokit
Education, Inclusive Growth And Development In Nigeria: Empirical Examination, Emmanuel Onwioduokit
Bullion
Fundamental changes in the intellectual and social stance of any society have always been preceded by educational renaissance. This paper investigates the role of education in achieving and sustaining economic development in Nigeria. Abstracting from the theory, the paper examines education in Nigeria, its enhancing, including comparative analysis with selected African countries and its connection with economic development. The ARDL model was adopted to examine both the short run and long run relationships between education and development proxied by HDI and education and economic growth within the context of inclusive growth model. Evidence from the estimated long run ARDL model …
Pension Fund, Financial Development And Output Growth In Nigeria, Iwegbu Onyebuchi
Pension Fund, Financial Development And Output Growth In Nigeria, Iwegbu Onyebuchi
Bullion
This study examines the indirect effect of pension fund on economic growth in Nigeria through the financial system. Using Autoregressive Distributive Lag (ARDL) model, the study found out that pension fund contribution is effective in stimulating growth through investment in portfolios that yield short term returns; this implies that pension fund contribution cannot on its own without a credible financial system impact on economic growth. The policy implication of this study is for Pension Fund Administrators (PFAs) to invest in portfolios with short-term returns; thus, a large chunk of funds invested in federal government securities should be unbundled to other …