A smart, driven and thorough professional with multiple capabilities, Bodunrin is a hardworking, resourceful and skilful economist with an extensive understanding of economic theory, including behavioural economics and its practical business and policy application.
The EITI is a standard for countries with oil, gas and minerals, it requires all companies extrac... more The EITI is a standard for countries with oil, gas and minerals, it requires all companies extracting oil, gas and minerals to publish what they pay in taxes and royalties and the government also publish what it receives, including other key information about the sector (EITI, 2016). These mineral dependent economies generate at least 8 % of GDP and 40 % of export earnings from the mineral (Auty, 1993). The lack of accountability and efficient management of these resources has led to political unrest, poverty on a larger scale and by extension severe macroeconomic issues thereby impacting negatively on growth and development. The study assessed the wellbeing of countries before and after implementing EITI requirements. It found out that EITI did not help countries diversify their revenue base but its aid them utilize their resources efficiently, as the performance of the manufacturing sector fell with increased mineral rents.
This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from... more This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from 1981 to 2015, with the interest in exploring which of fiscal or monetary policy has been effective in propelling economic growth in Nigeria and how GDP growth responds to the monetary and fiscal policy shock. The positive impact of these policy tools on economic performance will help the country achieve sustained growth and while reducing economic instability. Time series data were collected from the central bank of Nigeria (CBN), the international monetary fund (IMF) and the World Bank. Firstly, a vector autoregressive model (VAR) was applied, and then the vector error correction (VEC) model. The VAR model revealed that fiscal policy distorted real GDP but died out after one year, while monetary policy had no significant impact on real GDP. Of the total government expenditure, the impact of capital expenditure was found to have a significant impact on real GDP while the impact of recur...
This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from... more This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from 1981 to 2015, with the interest in exploring which of fiscal or monetary policy has been effective in propelling economic growth in Nigeria and how GDP growth responds to the monetary and fiscal policy shock. The positive impact of these policy tools on economic performance will help the country achieve sustained growth and while reducing economic instability. Time series data were collected from the central bank of Nigeria (CBN), the international monetary fund (IMF) and the World Bank. Firstly, a vector autoregressive model (VAR) was applied, and then the vector error correction (VEC) model. The VAR model revealed that fiscal policy distorted real GDP but died out after one year, while monetary policy had no significant impact on real GDP. Of the total government expenditure, the impact of capital expenditure was found to have a significant impact on real GDP while the impact of recurrent expenditure was insignificant. With the introduction of VEC model, the study found an unexpected shock on money supply, real effective exchange rate and taxes to have a negative permanent effect on real GDP, while an unexpected shock on recurrent expenditure and capital expenditure to have a positive effect on real GDP. Finally, the study recommends fiscal policy leadership and harmonization between the fiscal and monetary authority, with emphasis on channelling resources to where they are most needed.
The EITI is a standard for countries with oil, gas and minerals, it requires all companies extrac... more The EITI is a standard for countries with oil, gas and minerals, it requires all companies extracting oil, gas and minerals to publish what they pay in taxes and royalties and the government also publish what it receives, including other key information about the sector (EITI, 2016). These mineral dependent economies generate at least 8 % of GDP and 40 % of export earnings from the mineral (Auty, 1993). The lack of accountability and efficient management of these resources has led to political unrest, poverty on a larger scale and by extension severe macroeconomic issues thereby impacting negatively on growth and development. The study assessed the wellbeing of countries before and after implementing EITI requirements. It found out that EITI did not help countries diversify their revenue base but its aid them utilize their resources efficiently, as the performance of the manufacturing sector fell with increased mineral rents.
This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from... more This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from 1981 to 2015, with the interest in exploring which of fiscal or monetary policy has been effective in propelling economic growth in Nigeria and how GDP growth responds to the monetary and fiscal policy shock. The positive impact of these policy tools on economic performance will help the country achieve sustained growth and while reducing economic instability. Time series data were collected from the central bank of Nigeria (CBN), the international monetary fund (IMF) and the World Bank. Firstly, a vector autoregressive model (VAR) was applied, and then the vector error correction (VEC) model. The VAR model revealed that fiscal policy distorted real GDP but died out after one year, while monetary policy had no significant impact on real GDP. Of the total government expenditure, the impact of capital expenditure was found to have a significant impact on real GDP while the impact of recur...
This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from... more This study investigated the impact of fiscal and monetary policy on Nigerian economic growth from 1981 to 2015, with the interest in exploring which of fiscal or monetary policy has been effective in propelling economic growth in Nigeria and how GDP growth responds to the monetary and fiscal policy shock. The positive impact of these policy tools on economic performance will help the country achieve sustained growth and while reducing economic instability. Time series data were collected from the central bank of Nigeria (CBN), the international monetary fund (IMF) and the World Bank. Firstly, a vector autoregressive model (VAR) was applied, and then the vector error correction (VEC) model. The VAR model revealed that fiscal policy distorted real GDP but died out after one year, while monetary policy had no significant impact on real GDP. Of the total government expenditure, the impact of capital expenditure was found to have a significant impact on real GDP while the impact of recurrent expenditure was insignificant. With the introduction of VEC model, the study found an unexpected shock on money supply, real effective exchange rate and taxes to have a negative permanent effect on real GDP, while an unexpected shock on recurrent expenditure and capital expenditure to have a positive effect on real GDP. Finally, the study recommends fiscal policy leadership and harmonization between the fiscal and monetary authority, with emphasis on channelling resources to where they are most needed.
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