Social Sciences Research Nnamdi Azikiwe University, Awka. Nigeria
This study examines Government Expenditure in Nigeria in the light of Zivot Andrews test for stru... more This study examines Government Expenditure in Nigeria in the light of Zivot Andrews test for structural break. The specific objectives of the study were to ascertain if structural breaks existed during the pre SAP, SAP and post SAP periods for economic growth and aggregate spending in Nigeria during the period under study with the aid of secondary macroeconomic data sourced from World Bank Development Indicators (WDI) covering a period of 1970 to 2023. The method of analysis employed was auto regressive distributed lag (ARDL) technique using government expenditure on transport, communication, health, education and utility sectors as independent variables independent variables and Gross Domestic Product as the dependent variable. From the results we observed, there were structural breaks both highest peaks and lowest peaks experienced during the pre SAP, SAP and post SAP periods for economic growth and aggregate spending in Nigeria. The study therefore recommends that the government should not only increase its expenditure in the key sectors of the economy but should do so in line with the needs for these infrastructural facilities so that the economy can attain infrastructural development.
INTERNATIONAL JOURNAL OF RESEARCH AND SCIENTIFIC INNOVATION (IJRSI), 2024
This study examines the impact of government expenditure for infrastructure on economic growth be... more This study examines the impact of government expenditure for infrastructure on economic growth before and after the introduction of SAP in Nigeria, using annual data for the period of 1970 to 2022. Data were sourced from CBN Statistical Bulletin on government spending on transport, communication, health, education, and utilities sectors. Augmented Dickey-Fuller Test and Auto Regressive Distributed Lag Model were employed as analytical tools for the study. The results show a positive short run effect of growth rate of government spending on transportation sector, communication sector, health sector, education sector and utility sector on economic growth in Nigeria during the pre-SAP and SAP periods. The opposite becomes the case to cover from the post-SAP period till date not minding the period anchored a lot more of government policies targeted at the economic development of Nigeria. The study therefore recommends that government should ensure that what is annually budgeted for infrastructural development in the country should be judiciously and economically spent in other to attain economic growth.
Abstract
Subject and purpose of work: The nexus between the terms of trade and marginal propensit... more Abstract Subject and purpose of work: The nexus between the terms of trade and marginal propensity to import and the consequent policy options arising from it among economic blocs is an area that has not been given due attention in the literature. The focus of the current paper is to examine the link between the marginal propensity to import and the terms of trade in the East African Community (EAC). Material and methods: The authors discuss and test a panel Granger causality model which is complemented with the test of impulse response function and variance decomposition using data from five EAC countries (Uganda, Tanzania, Rwanda, Kenya and Burundi). Results: The long-run result of the study indicated that causality runs from all the variables to the terms of trade. In the short-run, results reveal that both the marginal propensity to import and the export of manufactures Grangercaused terms of trade without a feedback. The results of the impulse response function revealed that the terms of trade responded positively to shocks in the marginal propensity to import only in the first period, but afterwards the response turned negative in all the other periods. The terms of trade were equally found to respond positively to shocks in inflation rate in all the periods. The variance decomposition results indicated that apart from shocks to itself which was 100% in the first period, marginal propensity to import contributed about 0.0458% of shocks to the terms of trade, and this rose continuously in all the periods. Conclusions: The analysis shows that both in the long-run and the short-run, marginal propensity to import determines the terms of trade among the EAC countries. Keywords: propensity to import, terms of trade, exchange rate, panel Granger causality, economic bloc
International Journal of Finance, Economics and Business, 2024
In literature, the role of institutions in stimulating FDI inflows has been documented. This stud... more In literature, the role of institutions in stimulating FDI inflows has been documented. This study examined the contributions of two institutional-quality variables, regulatory quality and the rule of law, in attracting FDI in the Economic Community of West African States (ECOWAS). The study used an annual series covering the period from 2000 to 2020 using three different estimation techniques: the panel ARDL, the panel FMOLS, and the panel DOLS. Findings reveal that while the rule of law had a negative and significant impact on FDI inflows under the panel ARDL and FMOLS, the impact of regulatory quality was negative and significant under the panel ARDL and DOLS. The short-run ARDL results revealed that only the population growth rate positively and significantly impacted FDI inflows. However, in the long run, findings showed that while the population growth rate had a positive and significant impact on FDI inflows under the ARDL, the impact of GDP was positive and significant in all the models. The exchange rate was also found to negatively and significantly impact FDI inflows in all the models. The study consequently recommends building strong institutions through collaboration among the member countries while improving human capital and economic growth.
Asian Journal of Social Science and Management Technology, 2024
This study examines human capital development and economic growth in Nigeria. The specific object... more This study examines human capital development and economic growth in Nigeria. The specific objectives of the study were to measure the impact of the components of human development index [life expectancy, education index and Gross National Income (GNI) index] on economic growth in Nigeria with the aid of secondary macroeconomic data sourced from World Bank Development Indicators (WDI) covering a period of 32 years (1990-2022). The method of analysis employed was the Ordinary Least Squares (OLS) technique using Life Expectancy, Adult Literacy, Primary School Enrollment, Gross National Income, Population Growth, and Gross Fixed Capital Formation as independent variables independent variables with Gross Domestic Product as the dependent variable. The estimated model shows that Life Expectancy and Adult Literacy have positive and insignificant impact on economic growth while School Enrollment Primary, Gross National Income and Gross Fixed Capital Formation have significant impact on economic growth in Nigeria. The study recommends that Nigeria government should ensure structural reforms on health and education through training and proper education to enable individuals to have the skills, knowledge and experience that will improve their productivity and in turn have a positive impact on economic growth in Nigeria.
The sensitive role played by domestic interest rate in the economy has made studies on its determ... more The sensitive role played by domestic interest rate in the economy has made studies on its determinants paramount. This study therefore used the autoregressive distributed lag (ARDL) bounds framework to investigate the impact of financial openness on domestic interest rate in Nigeria over the period from 1980–2020. The study included three de facto financial openness measures, namely: foreign direct investment (FDI) inflows, FDI outflows and portfolio investment as well as one de jure financial openness measure, namely: capital account openness. The short-run results revealed that while FDI inflows had a negative but non-significant impact on domestic interest rate, the impact of FDI outflows was positive and significant. The short-run results also indicated that while foreign portfolio investment had a positive but non-significant impact on domestic interest rate, the impact of capital account openness was positive and significant. In the long-run, the study revealed that FDI inflo...
E- banking enable banks to speed up their retail and wholesale banking services; as the banking i... more E- banking enable banks to speed up their retail and wholesale banking services; as the banking industry believes that adopting the new technology will help to improve customer service level and tie their customers closer to the bank. An understanding of the implications of electronic banking has therefore become crucial. It is on this basis that this study examined the impact of electronic banking on the performance of money deposit banks in Nigeria from 2006 to 2017 using time series quarterly data. The study adopted Ordinary Least Squares as main tool of analysis. The estimated regression equation showed that in the long-run, all the variables are correctly signed, except inter-bank transfer that is negatively signed. The policy implication of the findings is that e-banking has gradual positive impacts on performance of banks in Nigeria and hence could contribute to the process of economic growth. The research therefore suggests that banks must be focused in terms of their needs ...
Journal of Advanced Research in Economics and Administrative Sciences
Purpose: The aim is to examine the roles of institutional quality and financial openness on the e... more Purpose: The aim is to examine the roles of institutional quality and financial openness on the economic performance of BRICS, using annual series that covered the period from 1996 to 2020. Methods: Principal component analysis (PCA) was used to select the institutional quality variables, while analysis of the study was conducted under the panel data random effect model. Findings indicate that FDI inflows and capital account openness positively impacted on GDP per capita significantly; however the impact of FDI outflows on GDP per capita, though positive, was not significant. Moreover, control of corruption and government effectiveness both had positive and significant impact on GDP per capita, while trade openness impacted GDP per capita negatively, though the result was not significant. Findings: The outcome of the study reveals that the economy of the BRICS improved by removing restrictions on capital controls which retard capital inflows, but liberalization of trade had adverse ...
International Journal of Research and Innovation in Social Science
The Nigerian government has consistently increased spending without a corresponding improvement i... more The Nigerian government has consistently increased spending without a corresponding improvement in the country’s economic growth trajectory. Using Hirschman’s approach, this study investigated the impact of government spending on economic growth in Nigeria, analyzing annual data from 1970 to 2020. The study utilized data from the CBN Statistical Bulletin to examine government’s spending in the transport, communication, health, education, and utilities sectors. An autoregressive distributed lag model was employed, and the results indicate a positive but non-significant short-term effect of communication and utility sector spending on Nigeria’s economic growth. However, there was a negative but non-significant short-term effect of transportation, health, and education sector spending on Nigeria’s economic growth. Thus, the study recommends that the government increase expenditure on the highlighted sectors, as well as the agricultural and petroleum sectors, which are areas where Niger...
International Journal of Economics, Business, and Entrepreneurship, 2023
Empirical results have shown that economic openness and institutional quality variables influence... more Empirical results have shown that economic openness and institutional quality variables influence the performance of the economy of different countries and regions differently. While these variables improve the economy of some countries and regions, findings have shown that in others the reverse is the case. In this present study, emphasis is on the contributions of economic openness and institutional quality to the economic performance of the Arab Maghreb Union (AMU). The study utilized the panel autoregressive distributed lag (ARDL) model with annual series ranging from 2000 to 2020. Institutional quality variables were selected using the principal component analysis (PCA). The short run results showed that, while capital account openness impacted positively on GDP per capita, trade openness adversely affected GDP per capita. In the long run, results indicated that FDI inflows had a positive and significant impact on GDP per capita. In the long run also, while governance effectiveness had negative and significant impact on GDP per capita, the impact of political stability was positive and significant. Consequently, the study recommends that in the short run, economic liberalization policy in the bloc should focus more on capital account openness than trade openness, while the long run policy thrust should centre on how to attract and harness FDI inflows into the member countries. This requires improvement in governance through building strong and virile institutions.
INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS), 2023
The Nigerian government has consistently increased spending without a corresponding improvement i... more The Nigerian government has consistently increased spending without a corresponding improvement in the country's economic growth trajectory. Using Hirschman's approach, this study investigated the impact of government spending on economic growth in Nigeria, analyzing annual data from 1970 to 2020. The study utilized data from the CBN Statistical Bulletin to examine government's spending in the transport, communication, health, education, and utilities sectors. An autoregressive distributed lag model was employed, and the results indicate a positive but non-significant short-term effect of communication and utility sector spending on Nigeria's economic growth. However, there was a negative but non-significant short-term effect of transportation, health, and education sector spending on Nigeria's economic growth. Thus, the study recommends that the government increase expenditure on the highlighted sectors, as well as the agricultural and petroleum sectors, which are areas where Nigeria is highly endowed. This approach will enable the country to achieve infrastructural development and positively impacting economic growth.
Insecurity is a feeling of trepidation and unsafe that leads to wanton destruction of lives and p... more Insecurity is a feeling of trepidation and unsafe that leads to wanton destruction of lives and properties in a society. As a result, this study examined the impact insecurity has on the economy and development status of Awka metropolis with respect to public and private economic activities and the Nigerian economy as a whole. The study relied on primary data generated through structured multifactor questionnaire administered on respondents and was analyzed with analysis of variance (ANOVA) technique. The result revealed that insecurity has significant impact on public and private sector activities in Awka metropolis as shown by the responses of the private business owners, top government officials and workers selected for this study. From the results, the study conclude that on average, insecurity has adversely affected public and private sector assets, output, turnover, employment generation and finances in Awka metropolis and Nigeria in general and thereafter recommended that government should increase spending on the different security outfits within the state and country to adequately equip them for their duties.
The main objective of this research paper is to examine the impact of Foreign Direct Investment (... more The main objective of this research paper is to examine the impact of Foreign Direct Investment (FDI) on the Nigerian Manufacturing Sector over a period of forty years (40) from 1981-2020. In order to achieve this, annual time series data on the variables-Manufacturing Output (MFO), Foreign Direct Investment (FDI), Exchange Rate (EXCH), Interest Rate (INTR), Degree of Openness (DOPN) and Government Capital Expenditure (GCPE) were collected from the Central Bank of Nigeria (CBN) Statistical Bulletin and the National Bureau of Statistics. The tools of empirical analysis employed were the Augmented Dickey Fuller (ADF) Unit Root test, the ARDL Bounds Test for Co-integration and the Auto Regressive Distributed Lag (ARDL) Model. Results from this study revealed that there exists a positive and significant impact of Foreign Direct Investment on the Nigerian Manufacturing Sector in both the short and long run. This indicates that FDI is vital to the development of the sector. The study therefore recommends that government should create an enabling and favourable environment for both foreign and domestic investors by stabilizing the Naira/Dollar rate and tackling the insecurity problems of the country.
International Journal of Economics and Financial Management , 2020
Nigeria is not just richly endowed in primary oil (crude oil), but one of the major exporters of ... more Nigeria is not just richly endowed in primary oil (crude oil), but one of the major exporters of the same. However, the nation is also one of the key importers of refined/manufactured oil produce. Thus, the nation is known for her strong engagement in international trade via export and import of crude oil and refined/manufactured respectively. Theoretically, whereas Hechscher-Ohlin posit that international trade promotes economic growth if nations should produce and export goods in which they have factor endowment advantage and take the reserve on import, Prebisch-Singer maintained that exportation of primary product and importation of refined/manufactured produce will lead to negative terms of trade in developing countries which in turn will lead to perpetual underdevelopment. Given the aforesaid, this study examined the impact of international trade on Nigeria's economic growth drawing evidence from oil terms of trade from 2000 to 2018. The study made use of secondary data and employed Ordinary Least Square (OLS) regression technique. The estimated result revealed that in the short run, the oil commodity terms of trade (OCTOT) and non-oil commodity terms of trade (NOCTOT) had positive impact on Nigeria's economic growth, well the granger causality test shows that OCTOT, NOCTOT and GDP are independent of each other. From the results, the study therefore concludes that international trade both in oil and non-oil are vital for economic growth
Direct Research Journal of Social Science and Educational Studies, 2020
This study aimed to assess how inservice training influences the performance of Bank staff in Imo... more This study aimed to assess how inservice training influences the performance of Bank staff in Imo State. However, the prerogative to determine the beneficiaries of in-service training rest on unit Heads who often recommend their colleagues at the senior staff cadre. The human capital theory and system theory were used to uncover the importance of employee training on job performance A sample size of 577 respondents was selected using cluster sampling and simple random sampling technique from a study population of 1202 persons. Responses were gathered with the use of questionnaires. Data collected was analyzed and presented in frequency distribution tables, while the hypothesis was tested using chi-square (χ 2). The study revealed that employees at the senior staff level benefit more from training opportunities in comparison to other categories of bank employees. This lopsided training practice negates effective performance and job commitment to middle level and low-level employees. The researcher recommends that performance appraisal methods should replace the prerogatives exercised by Heads of banking units. The training needs of middle level and low-level staff should be prioritized because these employees are the drivers of banks' objectives.
Open grazing is the age-old practice of herders roaming about with their animals in
open fields,... more Open grazing is the age-old practice of herders roaming about with their animals in open fields, plains and nearby bushes in search of pasture for the animals. In Nigeria recently, there seem to be a lot of attention drawn to this phenomenon. This study attempted to ascertain if farmers in Anambra State were aware of open grazing policy and then determine the economic impact of the policy on agricultural produce and food prices in Anambra state. The origin, immediate and remote causes of Fulani herders/farmers conflict with both farmers and thehost communities in Nigeria were studied.Using cluster sampling technique, Anambra State was chosen to represent Nigeria.The research adopted the Karl Marx Conflict theory as the theoretical frame work while focus group discussion, face to face interview to support the data gotten from questionnaire were employed in data collection and analysis. The findings show that farmers in Anambra state are fully aware of the open grazing policy of the government andthere is significant negative impact of open grazing policy on agricultural produce and food prices in Nigeria. The study then recommends that Government should ban open grazing of cattle by the citizens and establish ranches to prevent encroachment into farmlands. Government should also establish a peace mediation committee responsible for reconciliation between the Fulani herders and farmers in the state, in order to reach a lasting solution. Keywords: Anti-grazing, conflict, fulani herdsmen, open grazing, transhumance, Anambra State
Agriculture has remained an important aspect of any economy. However, in Nigeria,
incessant clash... more Agriculture has remained an important aspect of any economy. However, in Nigeria, incessant clashes between herdsmen and farmers, as well as the activities of the boko haram sect in many states of the federation have posed a serious threat to this key sector in recent years. These groups have had a hand in the death of numerous farmers, non-cultivation of farmlands, burning down of farm produce, and attacks on trucks conveying food to different parts of the country, with the consequent reduction in the quantity of food production and then the hike in food prices in Nigeria. Of course, the media, as expected, has been at the forefront of reporting these attacks on farmers. Anchored on the Agenda Setting Theory, this study explores farmers’ responses to the influence of these media reports on agricultural productivity as well as food prices. Data were drawn from 390 farmers in Enugu state using simple random sampling technique and chi-square (x2 ) was used to test the stated hypotheses. Findings showed that the farmer’s exposure to media terrorism reports was high, and that the respondents agreed that media terrorism reports have a significant negative impact on agricultural productivity and food
Social Sciences Research Nnamdi Azikiwe University, Awka. Nigeria
This study examines Government Expenditure in Nigeria in the light of Zivot Andrews test for stru... more This study examines Government Expenditure in Nigeria in the light of Zivot Andrews test for structural break. The specific objectives of the study were to ascertain if structural breaks existed during the pre SAP, SAP and post SAP periods for economic growth and aggregate spending in Nigeria during the period under study with the aid of secondary macroeconomic data sourced from World Bank Development Indicators (WDI) covering a period of 1970 to 2023. The method of analysis employed was auto regressive distributed lag (ARDL) technique using government expenditure on transport, communication, health, education and utility sectors as independent variables independent variables and Gross Domestic Product as the dependent variable. From the results we observed, there were structural breaks both highest peaks and lowest peaks experienced during the pre SAP, SAP and post SAP periods for economic growth and aggregate spending in Nigeria. The study therefore recommends that the government should not only increase its expenditure in the key sectors of the economy but should do so in line with the needs for these infrastructural facilities so that the economy can attain infrastructural development.
INTERNATIONAL JOURNAL OF RESEARCH AND SCIENTIFIC INNOVATION (IJRSI), 2024
This study examines the impact of government expenditure for infrastructure on economic growth be... more This study examines the impact of government expenditure for infrastructure on economic growth before and after the introduction of SAP in Nigeria, using annual data for the period of 1970 to 2022. Data were sourced from CBN Statistical Bulletin on government spending on transport, communication, health, education, and utilities sectors. Augmented Dickey-Fuller Test and Auto Regressive Distributed Lag Model were employed as analytical tools for the study. The results show a positive short run effect of growth rate of government spending on transportation sector, communication sector, health sector, education sector and utility sector on economic growth in Nigeria during the pre-SAP and SAP periods. The opposite becomes the case to cover from the post-SAP period till date not minding the period anchored a lot more of government policies targeted at the economic development of Nigeria. The study therefore recommends that government should ensure that what is annually budgeted for infrastructural development in the country should be judiciously and economically spent in other to attain economic growth.
Abstract
Subject and purpose of work: The nexus between the terms of trade and marginal propensit... more Abstract Subject and purpose of work: The nexus between the terms of trade and marginal propensity to import and the consequent policy options arising from it among economic blocs is an area that has not been given due attention in the literature. The focus of the current paper is to examine the link between the marginal propensity to import and the terms of trade in the East African Community (EAC). Material and methods: The authors discuss and test a panel Granger causality model which is complemented with the test of impulse response function and variance decomposition using data from five EAC countries (Uganda, Tanzania, Rwanda, Kenya and Burundi). Results: The long-run result of the study indicated that causality runs from all the variables to the terms of trade. In the short-run, results reveal that both the marginal propensity to import and the export of manufactures Grangercaused terms of trade without a feedback. The results of the impulse response function revealed that the terms of trade responded positively to shocks in the marginal propensity to import only in the first period, but afterwards the response turned negative in all the other periods. The terms of trade were equally found to respond positively to shocks in inflation rate in all the periods. The variance decomposition results indicated that apart from shocks to itself which was 100% in the first period, marginal propensity to import contributed about 0.0458% of shocks to the terms of trade, and this rose continuously in all the periods. Conclusions: The analysis shows that both in the long-run and the short-run, marginal propensity to import determines the terms of trade among the EAC countries. Keywords: propensity to import, terms of trade, exchange rate, panel Granger causality, economic bloc
International Journal of Finance, Economics and Business, 2024
In literature, the role of institutions in stimulating FDI inflows has been documented. This stud... more In literature, the role of institutions in stimulating FDI inflows has been documented. This study examined the contributions of two institutional-quality variables, regulatory quality and the rule of law, in attracting FDI in the Economic Community of West African States (ECOWAS). The study used an annual series covering the period from 2000 to 2020 using three different estimation techniques: the panel ARDL, the panel FMOLS, and the panel DOLS. Findings reveal that while the rule of law had a negative and significant impact on FDI inflows under the panel ARDL and FMOLS, the impact of regulatory quality was negative and significant under the panel ARDL and DOLS. The short-run ARDL results revealed that only the population growth rate positively and significantly impacted FDI inflows. However, in the long run, findings showed that while the population growth rate had a positive and significant impact on FDI inflows under the ARDL, the impact of GDP was positive and significant in all the models. The exchange rate was also found to negatively and significantly impact FDI inflows in all the models. The study consequently recommends building strong institutions through collaboration among the member countries while improving human capital and economic growth.
Asian Journal of Social Science and Management Technology, 2024
This study examines human capital development and economic growth in Nigeria. The specific object... more This study examines human capital development and economic growth in Nigeria. The specific objectives of the study were to measure the impact of the components of human development index [life expectancy, education index and Gross National Income (GNI) index] on economic growth in Nigeria with the aid of secondary macroeconomic data sourced from World Bank Development Indicators (WDI) covering a period of 32 years (1990-2022). The method of analysis employed was the Ordinary Least Squares (OLS) technique using Life Expectancy, Adult Literacy, Primary School Enrollment, Gross National Income, Population Growth, and Gross Fixed Capital Formation as independent variables independent variables with Gross Domestic Product as the dependent variable. The estimated model shows that Life Expectancy and Adult Literacy have positive and insignificant impact on economic growth while School Enrollment Primary, Gross National Income and Gross Fixed Capital Formation have significant impact on economic growth in Nigeria. The study recommends that Nigeria government should ensure structural reforms on health and education through training and proper education to enable individuals to have the skills, knowledge and experience that will improve their productivity and in turn have a positive impact on economic growth in Nigeria.
The sensitive role played by domestic interest rate in the economy has made studies on its determ... more The sensitive role played by domestic interest rate in the economy has made studies on its determinants paramount. This study therefore used the autoregressive distributed lag (ARDL) bounds framework to investigate the impact of financial openness on domestic interest rate in Nigeria over the period from 1980–2020. The study included three de facto financial openness measures, namely: foreign direct investment (FDI) inflows, FDI outflows and portfolio investment as well as one de jure financial openness measure, namely: capital account openness. The short-run results revealed that while FDI inflows had a negative but non-significant impact on domestic interest rate, the impact of FDI outflows was positive and significant. The short-run results also indicated that while foreign portfolio investment had a positive but non-significant impact on domestic interest rate, the impact of capital account openness was positive and significant. In the long-run, the study revealed that FDI inflo...
E- banking enable banks to speed up their retail and wholesale banking services; as the banking i... more E- banking enable banks to speed up their retail and wholesale banking services; as the banking industry believes that adopting the new technology will help to improve customer service level and tie their customers closer to the bank. An understanding of the implications of electronic banking has therefore become crucial. It is on this basis that this study examined the impact of electronic banking on the performance of money deposit banks in Nigeria from 2006 to 2017 using time series quarterly data. The study adopted Ordinary Least Squares as main tool of analysis. The estimated regression equation showed that in the long-run, all the variables are correctly signed, except inter-bank transfer that is negatively signed. The policy implication of the findings is that e-banking has gradual positive impacts on performance of banks in Nigeria and hence could contribute to the process of economic growth. The research therefore suggests that banks must be focused in terms of their needs ...
Journal of Advanced Research in Economics and Administrative Sciences
Purpose: The aim is to examine the roles of institutional quality and financial openness on the e... more Purpose: The aim is to examine the roles of institutional quality and financial openness on the economic performance of BRICS, using annual series that covered the period from 1996 to 2020. Methods: Principal component analysis (PCA) was used to select the institutional quality variables, while analysis of the study was conducted under the panel data random effect model. Findings indicate that FDI inflows and capital account openness positively impacted on GDP per capita significantly; however the impact of FDI outflows on GDP per capita, though positive, was not significant. Moreover, control of corruption and government effectiveness both had positive and significant impact on GDP per capita, while trade openness impacted GDP per capita negatively, though the result was not significant. Findings: The outcome of the study reveals that the economy of the BRICS improved by removing restrictions on capital controls which retard capital inflows, but liberalization of trade had adverse ...
International Journal of Research and Innovation in Social Science
The Nigerian government has consistently increased spending without a corresponding improvement i... more The Nigerian government has consistently increased spending without a corresponding improvement in the country’s economic growth trajectory. Using Hirschman’s approach, this study investigated the impact of government spending on economic growth in Nigeria, analyzing annual data from 1970 to 2020. The study utilized data from the CBN Statistical Bulletin to examine government’s spending in the transport, communication, health, education, and utilities sectors. An autoregressive distributed lag model was employed, and the results indicate a positive but non-significant short-term effect of communication and utility sector spending on Nigeria’s economic growth. However, there was a negative but non-significant short-term effect of transportation, health, and education sector spending on Nigeria’s economic growth. Thus, the study recommends that the government increase expenditure on the highlighted sectors, as well as the agricultural and petroleum sectors, which are areas where Niger...
International Journal of Economics, Business, and Entrepreneurship, 2023
Empirical results have shown that economic openness and institutional quality variables influence... more Empirical results have shown that economic openness and institutional quality variables influence the performance of the economy of different countries and regions differently. While these variables improve the economy of some countries and regions, findings have shown that in others the reverse is the case. In this present study, emphasis is on the contributions of economic openness and institutional quality to the economic performance of the Arab Maghreb Union (AMU). The study utilized the panel autoregressive distributed lag (ARDL) model with annual series ranging from 2000 to 2020. Institutional quality variables were selected using the principal component analysis (PCA). The short run results showed that, while capital account openness impacted positively on GDP per capita, trade openness adversely affected GDP per capita. In the long run, results indicated that FDI inflows had a positive and significant impact on GDP per capita. In the long run also, while governance effectiveness had negative and significant impact on GDP per capita, the impact of political stability was positive and significant. Consequently, the study recommends that in the short run, economic liberalization policy in the bloc should focus more on capital account openness than trade openness, while the long run policy thrust should centre on how to attract and harness FDI inflows into the member countries. This requires improvement in governance through building strong and virile institutions.
INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS), 2023
The Nigerian government has consistently increased spending without a corresponding improvement i... more The Nigerian government has consistently increased spending without a corresponding improvement in the country's economic growth trajectory. Using Hirschman's approach, this study investigated the impact of government spending on economic growth in Nigeria, analyzing annual data from 1970 to 2020. The study utilized data from the CBN Statistical Bulletin to examine government's spending in the transport, communication, health, education, and utilities sectors. An autoregressive distributed lag model was employed, and the results indicate a positive but non-significant short-term effect of communication and utility sector spending on Nigeria's economic growth. However, there was a negative but non-significant short-term effect of transportation, health, and education sector spending on Nigeria's economic growth. Thus, the study recommends that the government increase expenditure on the highlighted sectors, as well as the agricultural and petroleum sectors, which are areas where Nigeria is highly endowed. This approach will enable the country to achieve infrastructural development and positively impacting economic growth.
Insecurity is a feeling of trepidation and unsafe that leads to wanton destruction of lives and p... more Insecurity is a feeling of trepidation and unsafe that leads to wanton destruction of lives and properties in a society. As a result, this study examined the impact insecurity has on the economy and development status of Awka metropolis with respect to public and private economic activities and the Nigerian economy as a whole. The study relied on primary data generated through structured multifactor questionnaire administered on respondents and was analyzed with analysis of variance (ANOVA) technique. The result revealed that insecurity has significant impact on public and private sector activities in Awka metropolis as shown by the responses of the private business owners, top government officials and workers selected for this study. From the results, the study conclude that on average, insecurity has adversely affected public and private sector assets, output, turnover, employment generation and finances in Awka metropolis and Nigeria in general and thereafter recommended that government should increase spending on the different security outfits within the state and country to adequately equip them for their duties.
The main objective of this research paper is to examine the impact of Foreign Direct Investment (... more The main objective of this research paper is to examine the impact of Foreign Direct Investment (FDI) on the Nigerian Manufacturing Sector over a period of forty years (40) from 1981-2020. In order to achieve this, annual time series data on the variables-Manufacturing Output (MFO), Foreign Direct Investment (FDI), Exchange Rate (EXCH), Interest Rate (INTR), Degree of Openness (DOPN) and Government Capital Expenditure (GCPE) were collected from the Central Bank of Nigeria (CBN) Statistical Bulletin and the National Bureau of Statistics. The tools of empirical analysis employed were the Augmented Dickey Fuller (ADF) Unit Root test, the ARDL Bounds Test for Co-integration and the Auto Regressive Distributed Lag (ARDL) Model. Results from this study revealed that there exists a positive and significant impact of Foreign Direct Investment on the Nigerian Manufacturing Sector in both the short and long run. This indicates that FDI is vital to the development of the sector. The study therefore recommends that government should create an enabling and favourable environment for both foreign and domestic investors by stabilizing the Naira/Dollar rate and tackling the insecurity problems of the country.
International Journal of Economics and Financial Management , 2020
Nigeria is not just richly endowed in primary oil (crude oil), but one of the major exporters of ... more Nigeria is not just richly endowed in primary oil (crude oil), but one of the major exporters of the same. However, the nation is also one of the key importers of refined/manufactured oil produce. Thus, the nation is known for her strong engagement in international trade via export and import of crude oil and refined/manufactured respectively. Theoretically, whereas Hechscher-Ohlin posit that international trade promotes economic growth if nations should produce and export goods in which they have factor endowment advantage and take the reserve on import, Prebisch-Singer maintained that exportation of primary product and importation of refined/manufactured produce will lead to negative terms of trade in developing countries which in turn will lead to perpetual underdevelopment. Given the aforesaid, this study examined the impact of international trade on Nigeria's economic growth drawing evidence from oil terms of trade from 2000 to 2018. The study made use of secondary data and employed Ordinary Least Square (OLS) regression technique. The estimated result revealed that in the short run, the oil commodity terms of trade (OCTOT) and non-oil commodity terms of trade (NOCTOT) had positive impact on Nigeria's economic growth, well the granger causality test shows that OCTOT, NOCTOT and GDP are independent of each other. From the results, the study therefore concludes that international trade both in oil and non-oil are vital for economic growth
Direct Research Journal of Social Science and Educational Studies, 2020
This study aimed to assess how inservice training influences the performance of Bank staff in Imo... more This study aimed to assess how inservice training influences the performance of Bank staff in Imo State. However, the prerogative to determine the beneficiaries of in-service training rest on unit Heads who often recommend their colleagues at the senior staff cadre. The human capital theory and system theory were used to uncover the importance of employee training on job performance A sample size of 577 respondents was selected using cluster sampling and simple random sampling technique from a study population of 1202 persons. Responses were gathered with the use of questionnaires. Data collected was analyzed and presented in frequency distribution tables, while the hypothesis was tested using chi-square (χ 2). The study revealed that employees at the senior staff level benefit more from training opportunities in comparison to other categories of bank employees. This lopsided training practice negates effective performance and job commitment to middle level and low-level employees. The researcher recommends that performance appraisal methods should replace the prerogatives exercised by Heads of banking units. The training needs of middle level and low-level staff should be prioritized because these employees are the drivers of banks' objectives.
Open grazing is the age-old practice of herders roaming about with their animals in
open fields,... more Open grazing is the age-old practice of herders roaming about with their animals in open fields, plains and nearby bushes in search of pasture for the animals. In Nigeria recently, there seem to be a lot of attention drawn to this phenomenon. This study attempted to ascertain if farmers in Anambra State were aware of open grazing policy and then determine the economic impact of the policy on agricultural produce and food prices in Anambra state. The origin, immediate and remote causes of Fulani herders/farmers conflict with both farmers and thehost communities in Nigeria were studied.Using cluster sampling technique, Anambra State was chosen to represent Nigeria.The research adopted the Karl Marx Conflict theory as the theoretical frame work while focus group discussion, face to face interview to support the data gotten from questionnaire were employed in data collection and analysis. The findings show that farmers in Anambra state are fully aware of the open grazing policy of the government andthere is significant negative impact of open grazing policy on agricultural produce and food prices in Nigeria. The study then recommends that Government should ban open grazing of cattle by the citizens and establish ranches to prevent encroachment into farmlands. Government should also establish a peace mediation committee responsible for reconciliation between the Fulani herders and farmers in the state, in order to reach a lasting solution. Keywords: Anti-grazing, conflict, fulani herdsmen, open grazing, transhumance, Anambra State
Agriculture has remained an important aspect of any economy. However, in Nigeria,
incessant clash... more Agriculture has remained an important aspect of any economy. However, in Nigeria, incessant clashes between herdsmen and farmers, as well as the activities of the boko haram sect in many states of the federation have posed a serious threat to this key sector in recent years. These groups have had a hand in the death of numerous farmers, non-cultivation of farmlands, burning down of farm produce, and attacks on trucks conveying food to different parts of the country, with the consequent reduction in the quantity of food production and then the hike in food prices in Nigeria. Of course, the media, as expected, has been at the forefront of reporting these attacks on farmers. Anchored on the Agenda Setting Theory, this study explores farmers’ responses to the influence of these media reports on agricultural productivity as well as food prices. Data were drawn from 390 farmers in Enugu state using simple random sampling technique and chi-square (x2 ) was used to test the stated hypotheses. Findings showed that the farmer’s exposure to media terrorism reports was high, and that the respondents agreed that media terrorism reports have a significant negative impact on agricultural productivity and food
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Papers by Okoli Uju Victoria
Subject and purpose of work: The nexus between the terms of trade and marginal propensity to import and the
consequent policy options arising from it among economic blocs is an area that has not been given due attention
in the literature. The focus of the current paper is to examine the link between the marginal propensity to import
and the terms of trade in the East African Community (EAC).
Material and methods: The authors discuss and test a panel Granger causality model which is complemented with
the test of impulse response function and variance decomposition using data from five EAC countries (Uganda,
Tanzania, Rwanda, Kenya and Burundi).
Results: The long-run result of the study indicated that causality runs from all the variables to the terms of trade. In
the short-run, results reveal that both the marginal propensity to import and the export of manufactures Grangercaused terms of trade without a feedback. The results of the impulse response function revealed that the terms of
trade responded positively to shocks in the marginal propensity to import only in the first period, but afterwards
the response turned negative in all the other periods. The terms of trade were equally found to respond positively
to shocks in inflation rate in all the periods. The variance decomposition results indicated that apart from shocks
to itself which was 100% in the first period, marginal propensity to import contributed about 0.0458% of shocks
to the terms of trade, and this rose continuously in all the periods.
Conclusions: The analysis shows that both in the long-run and the short-run, marginal propensity to import
determines the terms of trade among the EAC countries.
Keywords: propensity to import, terms of trade, exchange rate, panel Granger causality, economic bloc
open fields, plains and nearby bushes in search of pasture for the animals. In Nigeria
recently, there seem to be a lot of attention drawn to this phenomenon. This study
attempted to ascertain if farmers in Anambra State were aware of open grazing
policy and then determine the economic impact of the policy on agricultural produce
and food prices in Anambra state. The origin, immediate and remote causes of
Fulani herders/farmers conflict with both farmers and thehost communities in
Nigeria were studied.Using cluster sampling technique, Anambra State was chosen
to represent Nigeria.The research adopted the Karl Marx Conflict theory as the
theoretical frame work while focus group discussion, face to face interview to
support the data gotten from questionnaire were employed in data collection and
analysis. The findings show that farmers in Anambra state are fully aware of the
open grazing policy of the government andthere is significant negative impact of
open grazing policy on agricultural produce and food prices in Nigeria. The study
then recommends that Government should ban open grazing of cattle by the citizens
and establish ranches to prevent encroachment into farmlands. Government should
also establish a peace mediation committee responsible for reconciliation between
the Fulani herders and farmers in the state, in order to reach a lasting solution.
Keywords: Anti-grazing, conflict, fulani herdsmen, open grazing, transhumance,
Anambra State
incessant clashes between herdsmen and farmers, as well as the activities of the boko
haram sect in many states of the federation have posed a serious threat to this key
sector in recent years. These groups have had a hand in the death of numerous
farmers, non-cultivation of farmlands, burning down of farm produce, and attacks
on trucks conveying food to different parts of the country, with the consequent
reduction in the quantity of food production and then the hike in food prices in
Nigeria. Of course, the media, as expected, has been at the forefront of reporting
these attacks on farmers. Anchored on the Agenda Setting Theory, this study
explores farmers’ responses to the influence of these media reports on agricultural
productivity as well as food prices. Data were drawn from 390 farmers in Enugu
state using simple random sampling technique and chi-square (x2
) was used to test
the stated hypotheses. Findings showed that the farmer’s exposure to media
terrorism reports was high, and that the respondents agreed that media terrorism
reports have a significant negative impact on agricultural productivity and food
Subject and purpose of work: The nexus between the terms of trade and marginal propensity to import and the
consequent policy options arising from it among economic blocs is an area that has not been given due attention
in the literature. The focus of the current paper is to examine the link between the marginal propensity to import
and the terms of trade in the East African Community (EAC).
Material and methods: The authors discuss and test a panel Granger causality model which is complemented with
the test of impulse response function and variance decomposition using data from five EAC countries (Uganda,
Tanzania, Rwanda, Kenya and Burundi).
Results: The long-run result of the study indicated that causality runs from all the variables to the terms of trade. In
the short-run, results reveal that both the marginal propensity to import and the export of manufactures Grangercaused terms of trade without a feedback. The results of the impulse response function revealed that the terms of
trade responded positively to shocks in the marginal propensity to import only in the first period, but afterwards
the response turned negative in all the other periods. The terms of trade were equally found to respond positively
to shocks in inflation rate in all the periods. The variance decomposition results indicated that apart from shocks
to itself which was 100% in the first period, marginal propensity to import contributed about 0.0458% of shocks
to the terms of trade, and this rose continuously in all the periods.
Conclusions: The analysis shows that both in the long-run and the short-run, marginal propensity to import
determines the terms of trade among the EAC countries.
Keywords: propensity to import, terms of trade, exchange rate, panel Granger causality, economic bloc
open fields, plains and nearby bushes in search of pasture for the animals. In Nigeria
recently, there seem to be a lot of attention drawn to this phenomenon. This study
attempted to ascertain if farmers in Anambra State were aware of open grazing
policy and then determine the economic impact of the policy on agricultural produce
and food prices in Anambra state. The origin, immediate and remote causes of
Fulani herders/farmers conflict with both farmers and thehost communities in
Nigeria were studied.Using cluster sampling technique, Anambra State was chosen
to represent Nigeria.The research adopted the Karl Marx Conflict theory as the
theoretical frame work while focus group discussion, face to face interview to
support the data gotten from questionnaire were employed in data collection and
analysis. The findings show that farmers in Anambra state are fully aware of the
open grazing policy of the government andthere is significant negative impact of
open grazing policy on agricultural produce and food prices in Nigeria. The study
then recommends that Government should ban open grazing of cattle by the citizens
and establish ranches to prevent encroachment into farmlands. Government should
also establish a peace mediation committee responsible for reconciliation between
the Fulani herders and farmers in the state, in order to reach a lasting solution.
Keywords: Anti-grazing, conflict, fulani herdsmen, open grazing, transhumance,
Anambra State
incessant clashes between herdsmen and farmers, as well as the activities of the boko
haram sect in many states of the federation have posed a serious threat to this key
sector in recent years. These groups have had a hand in the death of numerous
farmers, non-cultivation of farmlands, burning down of farm produce, and attacks
on trucks conveying food to different parts of the country, with the consequent
reduction in the quantity of food production and then the hike in food prices in
Nigeria. Of course, the media, as expected, has been at the forefront of reporting
these attacks on farmers. Anchored on the Agenda Setting Theory, this study
explores farmers’ responses to the influence of these media reports on agricultural
productivity as well as food prices. Data were drawn from 390 farmers in Enugu
state using simple random sampling technique and chi-square (x2
) was used to test
the stated hypotheses. Findings showed that the farmer’s exposure to media
terrorism reports was high, and that the respondents agreed that media terrorism
reports have a significant negative impact on agricultural productivity and food