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Articles 31 - 60 of 210
Full-Text Articles in Growth and Development
Analysis Of The Causal Link Between Economic Growth And Development In Nigeria (1960-2019), Muhammad Umar
Analysis Of The Causal Link Between Economic Growth And Development In Nigeria (1960-2019), Muhammad Umar
Bullion
Taking cognizant of Nigeria's recent policies toward translating growth to meaningful development, this study aimed at analysing causality amid economic growth and development using annual series from 1960-2019.The study engaged vector autoregressive method by embracing Toda and Yamamoto 1995 model. The results reveals a bidirectional causality between economic growth and dependency ratio; population growth rate and economic growth and also it reveals the evidence of uni-directional causality from dependency ratio to life expectancy and from population growth to life expectancy. But economic growth and life expectancy as well as dependency ratio and life expectancy does not present evidence of causality.
Is Central Bank Of Nigeria Pursuing Preferential Development Finance? Some Parametric And Non-Parametric Evidence, Xavier-Itam A. Okon
Is Central Bank Of Nigeria Pursuing Preferential Development Finance? Some Parametric And Non-Parametric Evidence, Xavier-Itam A. Okon
Bullion
As encompassing as the development finance interventions of the Central Bank of Nigeria are, there appears to be a preference for the agricultural sector and the manufacturing sub-sector. The study applied the parametric ANOVA and the non-parametric Kruskal-Wallis Tests, to inferentially determine whether this is, indeed, the case. Findings, however, indicate that the intervention intensity is equal for all sectors, implying the Bank adopts a holistic, rather than preferential, approach to its development finance practice. This strategically engenders, among others, uniform development, inclusive growth and economic diversification. The interventions should be sustained and their coverage extended to other crucial sub-sectors …
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 …
Governance, Institutional Quality, Growth And Inequality In Africa. A Study Of Central Bank Of Nigeria, Ann Ogbo, Arachie Augustine Ebuka, Ezema Ikechukwu Humphrey
Governance, Institutional Quality, Growth And Inequality In Africa. A Study Of Central Bank Of Nigeria, Ann Ogbo, Arachie Augustine Ebuka, Ezema Ikechukwu Humphrey
Bullion
This paper examined the role of institutional quality on economic growth and reduction of inequality in Nigeria. Survey research design was adopted and data were collected through primary and secondary sources. Population of the study was 600 businesses across Nigeria. Descriptive and inferential statistics were used for data analysis. Findings revealed that the bottlenecks facing businesses in accessing loans have significant effects on business creation in Nigeria. The study concluded that lack of policies and interventions are not the problems for small businesses to obtaining funds from government, but effectiveness and efficiency of these interventions and policies.
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 …
Analysis Of The Impact Of Central Bank Of Nigeria's Agricultural Intervention Funds On The Economy, E. T. Adamgbe, M. C. Belonwu, E. R. Ochu, I. I. Okafor
Analysis Of The Impact Of Central Bank Of Nigeria's Agricultural Intervention Funds On The Economy, E. T. Adamgbe, M. C. Belonwu, E. R. Ochu, I. I. Okafor
Economic and Financial Review
This paper set out to investigate the impact of Central Bank of Nigeria's interventions on the agricultural sector within an economy-wide framework of general equilibrium modelling. The paper adopted a dynamic (recursive), two-sector general equilibrium model of the Nigerian economy with some modifications on the standard model developed by the Centre for Econometric and Applied Research (CEAR) and incorporated the contributions of the CBN's agricultural based interventions as increases in the stock of agricultural capital to have a more robust size of interventions into the agricultural sector. The SAM used for the CGE model analysis was derived from the updated …
Deficit Financing, Price And Economic Stability In Nigeria: A Bound Testing Approach., Ali Danjuma Umaru
Deficit Financing, Price And Economic Stability In Nigeria: A Bound Testing Approach., Ali Danjuma Umaru
Bullion
This research work empirically examines the impact of deficits finance on price and economic stability in Nigeria using Autoregressive Distributed Lag (ARDL)/Bound testing approach from 1980-2016. Total deficit financed externally and a disaggregated domestic source which includes CBN, Deposit Money Banks and Non-Bank Public were used as proxies for deficit financing while inflation rates and GDP were captured for price and economic stability respectively. The bound testing analysis which was carried out in a two differently specified models show no cointegration between deficit finance and inflation, while that of deficit finance and economic stability nexus reveals the existence of a …
Macroeconomic Instability Index And Threshold For The Nigerian Economy, B. A. G. Amoo, J. K. Achua, N. P. Audu, B. Hamma
Macroeconomic Instability Index And Threshold For The Nigerian Economy, B. A. G. Amoo, J. K. Achua, N. P. Audu, B. Hamma
Economic and Financial Review
The paper employed statistical algorithms, factor analysis and threshold autoregressive models to address the gaps in management of macroeconomic instability in Nigeria. Using data spanning 2010q1 to 2017q2, the findings showed that the values of macroeconomic instability index (MII) fluctuated between 0.316 and 0.609, with a threshold of 0.461. This showed an inverse relationship between macroeconomic instability and economic growth. This framework could serve as a mechanism to gauge early warning signal of instability in Nigeria.
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 …
The Banking System, Manufacturing Sector And Sustainable Economic Development., Risikat S. Oladoyin Dauda
The Banking System, Manufacturing Sector And Sustainable Economic Development., Risikat S. Oladoyin Dauda
Bullion
The paper is structured into five sections. Section one presents the introduction, while section two presents conceptual and theoretical issues. Section three captures issues in Nigeria's manufacturing sector, Section four presents a brief overview on the performance and financial intermediation roles of Nigeria's banking industry vis-a-vis the manufacturing sector, Section five and six contains the challenges and prospect of promoting banking system intermediary services in the manufacturing sector for sustainable development and concludes the paper respectively.
Overview Of Non-Oil Sector In Nigeria., Uwatt B. Uwatt
Overview Of Non-Oil Sector In Nigeria., Uwatt B. Uwatt
Bullion
This paper is to enhance the understanding of the non-oil sector in Nigeria, The underlying need is the emphasis on why the sector should be embraced as the new economic bride, not only by the government, but by oil and sundry, to fast-track economic recovery and enhance sustainable growth.
Cbn Real Sector Financing For Inclusive Growth And Economic Development., Mudashiru A. Olaitan
Cbn Real Sector Financing For Inclusive Growth And Economic Development., Mudashiru A. Olaitan
Bullion
lt is important to note that no economy can grow and improve the living standard of its population without a vibrant real sector. Consequently, the Central Bank of Nigeria intervenes in the real sector to stimulate flow of finance and boost productivity and employment generation.
Financing Agriculture For Sustainable Economic Development, Grace Ofure Evbuomwan
Financing Agriculture For Sustainable Economic Development, Grace Ofure Evbuomwan
Bullion
Nigeria's agriculture is diverse. presenting various opportunities. lt includes four sub-sectors, namely; crop, livestock, fishery and forestry. The crop sub-sector accounts for about 90.0 per cent of agricultural production in Nigeria, followed by the livestock sub-sector which contributes about 7.0 per cent. Fishing activities contribute about 2.0 per cent and forestry activities account for about 1.0 per cent. However, Nigeria remains a food-deficit country blessed as it is with abundant agro-ecological resources and diversity. As reported by the Food and Agricultural Organization of the United Nations (FAO), the number of people undernourished has been on the increase, from 8.7 per …
Economic Growth, Poverty And Income Inequality Matrix In Nigeria: A Further Investigation, H. O. Okafor
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 government should develop stronger economic institutions that are capable of reorganising the productive …
Economic Growth, Poverty And Income Inequality Matrix In Nigeria: A Further Investigation, H.O. Okafor
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 …
The Impact Of Lending Rate On The Manufacturing Sector In Nigeria, D. B. Akpan, D. J. Yilkudi, D. C. Opiah
The Impact Of Lending Rate On The Manufacturing Sector In Nigeria, D. B. Akpan, D. J. Yilkudi, D. C. Opiah
Economic and Financial Review
The study investigates the impact of lending rate on output of the manufacturing subsector using the Vector Error Correction Model (VECM) and annual data from 1981- 2014. The empirical results indicated that high lending rate had negative impact on manufacturing output in the long-run. This suggests that increase in lending rate undermines manufacturing output, thus retarding growth in the real sector. Specifically, the estimates revealed that a 1.0 per cent increase in lending rate reduces manufacturing output by 0.03 per cent. The study, therefore, recommends the implementation of investment friendly policies that narrows the lending rate by the deposit money …
Keynote Address On Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Central Bank Of Nigeria Executive Seminar, G.I. Emefiele
Economic and Financial Review
This is a keynote address delivered by the Governor of Central Bank of Nigeria at the 2016 executive seminar with the theme "financing government programmes in economic downturn - the role of central bank of Nigeria
Special Remarks: Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Annual Executive Seminar, S.O. Alade
Economic and Financial Review
This is the special remarks delivered by the Deputy Governor (Economic Policy) during the 2016 executive seminar, "financing government programmes in economic downturn- the role of central bank of Nigeria.
Non-Oil Exports, Economic Growth And Macroeconomic Stability, T.A. Oyejide
Non-Oil Exports, Economic Growth And Macroeconomic Stability, T.A. Oyejide
Economic and Financial Review
The author discussed the role of non-oil exports in the structural transformation and sectoral diversification processes which are inherently associated with sustainable growth and development outcomes as well as the focus of the analysis shifts to an examination of the role of non-oil exports in promoting economic growth and development.
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Economic and Financial Review
This author examines the various policy options for the manufacturing sector of the economy in an economic downturn.
Financng Government Programmes During Economic Downturn: Policy Options, E.M. Abolo
Financng Government Programmes During Economic Downturn: Policy Options, E.M. Abolo
Economic and Financial Review
The author discussed various policy options that can be adopted to finance government programmes during economic downturn. He explained in details the concept as it affects the economic growth and development.
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Economic and Financial Review
The paper reviews the strategies for strengthening the existing sources of traditional finance in Nigeria and also, introduces new sources of innovative finance that will be suitable for funding government development programmes, as well as, the SDGs Agenda 2030. Furthermore, the possible role of the central bank vis a-vis the government fiscal authorities in the management of some sophisticated financial instruments which is increasingly gaining momentum as part of innovative development finance is discussed.
Financing Government Programmes In Economic Downturn: Theoretical Issues And Perspectives, A. H. Ekpo
Financing Government Programmes In Economic Downturn: Theoretical Issues And Perspectives, A. H. Ekpo
Economic and Financial Review
The purpose of this paper is to articulate the theoretical issues and perspectives which underscore the need for caution in financing government programmes whether in the recurrent outlay or capital programmes as individual financing modes have built in costs and risks that could inhibit the realisation of government objectives.
Financing Government Programmes In Economic Downturn: A Comparative Analysis, T. Oshikoya
Financing Government Programmes In Economic Downturn: A Comparative Analysis, T. Oshikoya
Economic and Financial Review
This paper examines the experience of Nigeria and other oil exporting countries in adjusting to lower oil prices and financing government programmes during economic downturn.
Financing Government Deficit During Economic Downturn: Options For Consideration, O. Ajakaiye
Financing Government Deficit During Economic Downturn: Options For Consideration, O. Ajakaiye
Economic and Financial Review
The author examines the efficacy of the conventional approach to financing budget deficit during economic downturn in Nigeria. He also considers other (unconventional) options for financing budget deficits during economic downturn in Nigeria.
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
Economic and Financial Review
The author examine both the traditional and developmental roles central banks plays in financing government programmes/projects.
The Role Of The Media In Communicating Developments In Foreign Exchange Management In Nigeria, Stanley Egbochukwu
The Role Of The Media In Communicating Developments In Foreign Exchange Management In Nigeria, Stanley Egbochukwu
Bullion
The branch of journalism that tracks, record, analyses and interprets the economic changes that took place in a society is Financial Journalism. it is said to be a subject of unprecedented circumstance because financial and business stories nowadays move at a digital driven speed. the interpretation and presentation of the up to day activities in the financial world comes with high level of research and cooperate understanding. the Nigeria economy is heavily dependent on import and this records can be presented to the public through the media.
Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere
Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere
Bullion
Financial inclusion suggests an innovative concept which helps to achieve sustainable development, by making available financial services to the unbanked and underbanked with the help of financial institutions. The concept of financial inclusion gained popularity from year 2000. Thus, it is a great weapon to overcomes financial backwardness. This paper attempts to assess the current status of financial inclusion by examining recent policies and developments toward achieving financial inclusion in Nigeria. Specifically, the framework aimed at enhancing financial inclusion in Nigeria while also supporting the growth and stability of the financial sector, including policies around microfinance, mobile payment, KYC, electronic …
Keynote Address At The Executive Seminar On Exchange Rate Policy And Economic Management In Nigeria, Godwin I. Emefiele
Keynote Address At The Executive Seminar On Exchange Rate Policy And Economic Management In Nigeria, Godwin I. Emefiele
Economic and Financial Review
This is keynote address delivered by the Governor of Central Bank, Godwin I. Emefiele, on the executive seminar on exchange rate policy and economic development- Is there a need for paradigm shift?