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Social and Behavioral Sciences Commons™
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Articles 1 - 6 of 6
Full-Text Articles in Social and Behavioral Sciences
A Test Of The Fisher Effect In Nigeria, M. K. Tule, U. M. Okpanachi, E. T. Adamgbe, S. E. Smith
A Test Of The Fisher Effect In Nigeria, M. K. Tule, U. M. Okpanachi, E. T. Adamgbe, S. E. Smith
Economic and Financial Review
This paper uses the state space model to investigate the dynamic relationship between real interest rate and inflation in Nigeria. The paper reveals varying degrees of effect across interest rate and time horizons.
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 …
Structural Change And Real Output Growth In Nigeria: A Cointegration Analysis, P. D. Golit
Structural Change And Real Output Growth In Nigeria: A Cointegration Analysis, P. D. Golit
Economic and Financial Review
The study employed the Johansen (1988) and the Johansen and Juselius (1990) multivariate maximum likelihood method within a Vector Autoregressive framework to explore the impact of structural reforms on the level of real output in Nigeria. We fit the equation separately for two sub-samples, the pre-reform and the market-reform periods, to enable comparisons of the outcomes under alternative policy regimes. We further estimate the model using data that covered the entire sample period to evaluate the total effects and include a dummy variable to capture the impact of the policy shift. The Johansen cointegration test confirms the existence of long-run …
Demand For Foreign Exchange Reserves In Nigeria: A Cointegration Approach, Nkenchor N. Igue, Toyin S. Ogunleye
Demand For Foreign Exchange Reserves In Nigeria: A Cointegration Approach, Nkenchor N. Igue, Toyin S. Ogunleye
Economic and Financial Review
There have been significant accretions to foreign exchange reserves over the last decade in Nigeria, especially since the return to democratic governance in 1999. The study tries to find out the underlying factors driving the demand for reserves by the monetary authority. To estimate the demand for foreign exchange reserves in Nigeria, Johansen cointegration and error correction methodology was utilized for the period 1985:Q 1-20I0:O4. The results show that the long-run demand for foreign exchange reserves in Nigeria is driven by economic size, capital account vulnerability, exchange rate flexibility and opportunity cost. In the short-run, the major determinant of demand …
Is The Naira-Us Dollar Real Exchange Rate Misaligned?, Babatunde S. Omotosho, Murjanatu U. Wambai
Is The Naira-Us Dollar Real Exchange Rate Misaligned?, Babatunde S. Omotosho, Murjanatu U. Wambai
Economic and Financial Review
Policy makers are generally interested in knowing the degree of real exchange rate (RER) misalignment because of its connection to currency crises and other external sector imbalances. In Nigeria, the Naira-US Dollar RER appreciated by 81.3 per cent between 2000 and 2008 and depreciated afterwards by 10.10 per cent to close at an average of N 150.72 in 2009, due to the impacts of the global financial crisis. The main thesis of this study is: Are the movements in Naira RER during QI :2000 to 02:2011 in line with the economic fundamentals or not? Based on the theory of cointegration …
On The Stability Of The Demand For Money Function In Nigeria, Dipo T. Busari
On The Stability Of The Demand For Money Function In Nigeria, Dipo T. Busari
Economic and Financial Review
Using the cointegration error correction approach on annual data for the period 1970-2002, the study estimated a money demand function for Nigeria and examined some stability issues.