Social and Behavioral Sciences Commons^™

Dynamic Effects Of Fiscal Policy On Output And Unemployment In Nigeria: An Econometric Investigation, Attahir B. Abubakar

CBN Journal of Applied Statistics (JAS)

This study investigates the effect of fiscal policy shocks on output and unemployment in Nigeria under the Keynesian framework by employing the Structural Vector Autoregression (SVAR) methodology to analyse annual series on the relevant variables for the period 1981-2015. Augmented Dickey Fuller (ADF) test for unit root result shows all variables to be integrated of order one and Johansen Cointegration test confirms the presence of long run association among the variables. Findings of the SVAR model shows shock in public expenditure as having a positive long- lasting effect on output. Revenue shock was found to exert a positive effect (lower …

How Micro Small And Medium Enterprises (Msmes) Can Leverage On Central Bank Of Nigeria's Real Sector Initiatives, Paul Nduka Eluhaiwe

Bullion

This paper seeks to explore how MSMES can leverage on financing interventions of the CBN with a view to enabling them grow their businesses, employ more Nigerians and contribute to GDP.

Monetary Policy And Financing Real Sector Growth In Nigeria., Moses K. Tule

Bullion

The study examines CBN's real sector financing initiatives and implication for real sector growth and economic development. Section 2 discusses selected CBN real sector financing initiatives. Section 3 is the implications of the initiatives for growth and economic management. Section 4 discusses challenges of implementing the policies while section 5 concludes the paper and presents suggestions on the way forward.

The Place Of Collateral Registry In Credit Delivery Services, Muhammad Mainasara

Bullion

Micro, small and medium enterprises (MSMEs) are the main engines of economic growth. The sub-sector constitutes on integral part of the economy, providing products and services to Nigeria's teeming population, yet they are grossly underfunded. The huge financing gap, which characterized the MSMES, inhibits their development, thus having a telling effect on the economy.

Macroeconomic Stability And The Role Of Financial Institutions In Promoting Financial Inclusion In Nigeria, Mbutor O. Mbutor, Ibrahim A. Uba

Bullion

This article discusses the role of financial institutions in promoting financial inclusion in Nigeria as well as its macroeconomic stability. Positive growth of the economy is prerequisite for financial inclusion but the stability of the economy is sine qua non for economic growth. Therefore, the discussion of financial inclusion is best served when enclosed in the framework of the extent to which the economy is stable. The article further highlights financial inclusion and its related concepts and the role of financial institutions in promoting financial inclusion.

Real Exchange Rate Misalignment And Economic Growth In Nigeria (1960-2011), Waheed O. Ibrahim

CBN Journal of Applied Statistics (JAS)

This paper examines the impact of real effective exchange rate misalignment on economic growth in Nigeria using an annual data spanning 1960 to 2011. The augmented growth model was estimated using purchasing power parity (PPP) and generalized method of moment (GMM) approaches. Through series of iterative processes, it was observed that it will take four years for the exchange rate to revert back to equilibrium. The result from the PPP approach shows that the period of flexible exchange rate regime is characterized by a relatively lower real exchange rate misalignment over time compared with the fixed exchange rate regime. The …

Economic Growth, Poverty And Income Inequality Matrix In Nigeria: A Further Investigation, H.O. Okafor

Economic and Financial Review

This paper examined the existing relationship among economic growth, poverty and income inequality in Nigeria. Using the Vector Auto-regressive (VAR) model and the Engle-Granger technique to test for the causality existing among the variables, the results revealed that economic growth had no impact on poverty reduction and income distribution in Nigeria due its non-inclusive nature. There was, however, evidence of a unidirectional causality, running from income inequality to increased poverty. This implied that inequality would lead to increase in poverty in Nigeria. Therefore, the paper recommended that govemment should develop stronger economic institutions that ore capable of reorganising the productive …

Is The Discovery Of Oil A Curse Or A Blessing To Nigeria?, Ahmed S. Saidu, Saidu B. Aliyu, Umar A. Zubair

Bullion

The discovery of oil in commercial quantity in Oloibiri in Niger Delta in 1955 opened a new chapter in the economic landscape of Nigeria. Before the discovery of oil resources, agriculture was the main source of government revenue. Over the years however, revenue from oil export become the backbone of the economy. The annual budget, which defines economic direction the country charts, is solely based on crude oil revenue. This situation can be likened to one putting his eggs in one basket. And it is exactly this situation that has become the major source of agitation by oil producing areas …

Impact Of Exchange Rate Regimes On Economic Growth, Brigitta Jakob

Undergraduate Economic Review

It has been a challenge to identify a direct correlation between exchange rate regimes and economic growth. One of the most important issues left unanswered in international finance is the debates over which type of exchange rate can best stimulate economic growth.

The main hypothesis of this research is that fixed exchange rate regime will have positive correlation with GDP growth due to the stability factor it has to offer. Control variables used in this study include inflation rate, gross capital formation (%GDP), index of government spending, and index of human capital per person. After observing the data from 74 …