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Social and Behavioral Sciences Commons™
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- Bayesian Estimation (1)
- Calibration (1)
- Cluster Analysis (1)
- DSGEM (1)
- DYNARE (1)
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- Data generation (1)
- EGARCH (1)
- Economy development (1)
- Fiscal Federalism (1)
- GARCH (1)
- Growth (1)
- Heckman 2-step and FIML estimators. (1)
- Inflation (1)
- MDA's (1)
- Monetary Policy (1)
- Rational Expectation Hypothesis. (1)
- Revenue Allocation (1)
- Shocks (1)
- Statutory Allocation (1)
- Survey data; Item non-response; Sample selection bias; Sequential procedure; OLS (1)
- Threshold (1)
- VAT. (1)
- Weak-form Efficiency; Random-walk; Autoregression; Nigerian Stock Exchange; Runs and Variance Ratio tests (1)
Articles 1 - 7 of 7
Full-Text Articles in Social and Behavioral Sciences
Enhancing Data Generation For National Development In Nigeria: Institutional And Structural Issues1, Olu Ajakaiye
Enhancing Data Generation For National Development In Nigeria: Institutional And Structural Issues1, Olu Ajakaiye
CBN Journal of Applied Statistics (JAS)
In this presentation, attention is focused on data generation for the purposes of reasoning, discussing and calculating the status, process and prospects of economic development. Economic development has also been defined in various ways. Again for the present purposes, economic development will be conceived as the process of economic growth and structural transformation (Ajakaiye, 2002). Clearly, data, as a gathered body of facts about the economy, is a basic requirement in the process of economic growth and transformation. Foremost, facts about the economy are necessary in order to appreciate the current state of the economy in terms of growth and …
Testing The Weak-Form Efficiency Market Hypothesis: Evidence From Nigerian Stock Market, Gimba K. Victor
Testing The Weak-Form Efficiency Market Hypothesis: Evidence From Nigerian Stock Market, Gimba K. Victor
CBN Journal of Applied Statistics (JAS)
In recent years, the Nigerian Stock Exchange (NSE) has witnessed an unprecedented growth in market capitalization, membership, value and volume traded. By December 2007, the All Share Index has grown massively over 57,990.2 from 1113.4 in January 1993. This rising interest in investment opportunities in the NSE raises questions about its efficiency. This paper tests the Weak-form Efficient Market Hypothesis of the NSE by hypothesizing Normal distribution and Random walk of the return series. Daily and weekly All Share Index and five most traded and oldest bank stocks of the NSE are examined from January 2007 to December 2009 for …
A Business Cycle Model For Nigeria, Alege O. Philip
A Business Cycle Model For Nigeria, Alege O. Philip
CBN Journal of Applied Statistics (JAS)
The current global financial meltdown draws, once again, attention to the existence of business cycle fluctuations. Experts are of the view that the ongoing crisis is far deeper than the great depression of the 1930s. It should be recalled that the Keynes and Keynesianism was a response to that depression. Therefore, the objective of this paper is to develop a small business cycle model in the spirit of Dynamic Stochastic General Equilibrium (DSGE) model for Nigeria designed to examine the sources of business cycles, and use the model for policy analysis. This paper considers the implications of three policy shocks …
Fiscal Federalism In Nigeria: A Cluster Analysis Of Revenue Allocation To States And Local Government Areas, 1999 – 2008, Sam O. Olofin, Olusanya E. Olubusoye, Bello K. Ajide, Salisu A. Afees, Olalekan S. Akinola
Fiscal Federalism In Nigeria: A Cluster Analysis Of Revenue Allocation To States And Local Government Areas, 1999 – 2008, Sam O. Olofin, Olusanya E. Olubusoye, Bello K. Ajide, Salisu A. Afees, Olalekan S. Akinola
CBN Journal of Applied Statistics (JAS)
Existing literature on revenue allocation in Nigeria shows more concern for merits and demerits of sharing principles and /or formulae. Several alternatives have been proposed and will continue to be developed to address the unending agitations from beneficiaries. Contrary however, this paper analyzes two items of revenue (statutory and VAT) shared among the states including FCT and all the Local Government Areas (LGAs) between May 1999 and December 2008. The net statutory allocation after deductions was also analyzed. Using Cluster analysis to evaluate revenue allocation in Nigeria, States and LGAs exhibiting similarity in revenue received were grouped and their common …
Threshold Effect Of Inflation On Economic Growth In Nigeria, Sani Bawa, Abdullahi S. Ismaila
Threshold Effect Of Inflation On Economic Growth In Nigeria, Sani Bawa, Abdullahi S. Ismaila
CBN Journal of Applied Statistics (JAS)
It is widely believed that price stability promote long-term economic growth, whereas high inflation is inimical to growth. This paper utilized a quarterly time series data for the period 1981 – 2009 to estimate a threshold level of inflation for Nigeria. Using a threshold regression model developed by Khan and Senhadji (2001), the study estimated a threshold inflation level of 13 per cent for Nigeria. Below the threshold level, inflation has a mild effect on economic activities, while above it, the magnitude of the negative effect of inflation on growth was high. The negative and significant relationship between inflation and …
Reactions Of Stock Market To Monetary Policy Shocks During The Global Financial Crisis: The Nigerian Case, Aliyu Shehu U.R.
Reactions Of Stock Market To Monetary Policy Shocks During The Global Financial Crisis: The Nigerian Case, Aliyu Shehu U.R.
CBN Journal of Applied Statistics (JAS)
This paper seeks to assess the reactions of Nigeria’s stock market to monetary policy innovations during the period of global financial crisis on the basis of monthly data over the period January, 2007 to August, 2011. In particular, stock market return was regressed against major monetary policy instruments; money stock (M1, and M2) and monetary policy rate (MPR). The theoretical basis for the paper stems from the works of new classical macroeconomics and rational expectation hypothesis (REH). Lucas (1972) postulated that only the unanticipated monetary shock influences real economic activity. Using the GARCH by developed Engle and Bollerslev (1986) and …
Simple Sequential Procedure For Modeling Of Item Non-Response In Econometric Analysis: Application To Cv Survey Data, William M. Fonta, Elias T. Ayuk, Eme H. Ichoku
Simple Sequential Procedure For Modeling Of Item Non-Response In Econometric Analysis: Application To Cv Survey Data, William M. Fonta, Elias T. Ayuk, Eme H. Ichoku
CBN Journal of Applied Statistics (JAS)
Item non-response occurs when respondents fail to provide answers to some or all of the questions posed during survey interviews. The standard procedure is to exclude such responses from the econometric analysis. This may be appropriate if the sample included does not differ significantly from those excluded in the analysis. If this is not the case, the econometric analyst faces a sample selection bias problem. The aim of this paper is to provide further evidence using a simple sequential procedure to deal with the problem when using non-randomly selected samples in social science research. The procedure entails different levels of …