Browsing by Author "Osuoha, Rophina Chionyeka"

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    Effect of Public Debts on Private-Sector Investment in Nigeria
    (Department of Banking and Finance, Faculty Of Administration Nasarawa State University, Keffi., 2021-03-18) Osuoha, Rophina Chionyeka; Udenwa, Theresa A; Nwala, M. Nneka
    This study empirically analyzed the effect of Public Debt and Private-Sector Investment in Nigeria (1986-2017). This study employed secondary data in the analysis. The study used the ordinary least square method (OLS) and Error Correction Model (ECM) tools of analysis in the investigation of the impact and relationship among the economic variables. The Ordinary Least Squares (OLS) and the Error Correction Models show that there is a strong relationship between Private Investment (PIVN)in Nigeria and Public Debt in Nigeria. Public Debt in Nigeria has a negative effect on the economy both in the short run and long rim especially the Public Domestic Debt in Nigeria and Public External Debts in Nigeria. This is because the more government borrows from both the domestic and the external the more it crowds out investment especially the domestic debt crowds out private investment through lack of access to funds. The ECM result revealed that Public Debt Service in Nigeria has a positive effect on Private Investment (PIVN)in Nigeria, this is because when the government pays back loans or debts, it increases access to funds by the private investors thereby increasing the level of private investment in the country. Therefore, the study recommends that government should design a mechanism for effective and efficient Public Debt Service Management in Nigeria to increase access to funds by private investors and thereby increasing and enhancing Private Investment (PIVN) in Nigeria.
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    AN IMPACT ANALYSIS OF THE RELATIONSHIP BETWEEN MONEY SUPPLY AND INTEREST RATE IN NIGERIA
    (Department of Economics, Nasarawa State University, Keffi., 2019-06-26) Chukwumaeze, Donald Ugochukwu; Yelwa, Mohammed; Henry, Ahmed Eggon; Osuoha, Rophina Chionyeka
    The study examines the relationship between money supply and interest rate in Nigeria for the period 2000-2016. The study utilizes the simple linear regression model, using the ordinary least squares (OLS) technique. The pairwise Granger causality test was used to determine the causal relationship between money supply and interest rate, and result shows that a uni-directional causality runs from money supply to interest rate but not from interest rate to money supply. The Augmented Dickey-Fuller (ADF) unit root test method was applied to test for the stationarity of the time series variables, and results show that the variables were stationary at level. The OLS regression results show that money supply positively and significantly impacted on interest rate during the period investigated and that the regression model has a good fit as the coefficient of determination shows that 85% of the variation in interest rate was explained by money supply. Based on these findings, the study recommends that there should be a time-to-time moderate increase in money supply into the economy which will consequently reduce interest rate, increase investment and boost economic growth in the country; and that the Central Bank of Nigeria should pay special attention on broad money supply by regulating instruments like the liquidity ratio, reserve ratio, among others which directly affect broad money supply.
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    IMPACT OF FISCAL POLICY ON INVESTMENT DECISION OF MANUFACTURING INDUSTRY IN NIGERIA
    (Department of Banking and Finance, Nasarawa State University, Keffi., 2017-10-11) Osuoha, Rophina Chionyeka
    The study focuses on the impact of fiscal policy on investment decision of manufacturing industry in Nigeria. The study employed time series data from 1986 to 2016, statistical and econometric tools were used to test the stationary of variables and for the estimation of the impact of fiscal policy on investment decision of manufacturing industry in Nigeria. The finding revealed that fiscal policy has impact on investment decision of manufacturing industry in Nigeria, this implies that effective or ineffective fiscal policy is a strong determinant of investment decision of manufacturing industry in Nigeria. Also, government total expenditure was found to have positive impact on investment decision of manufacturing industry in Nigeria and its impact was statistically significance in explaining variation in investment decision of manufacturing industry in Nigeria. Furthermore, debt was found to have negative impact on investment decision of manufacturing industry in Nigeria. This implies that debt can crowd out investment decision of manufacturing industry in Nigeria. Therefore, the study recommended that tax, expenditure and debt policies in Nigeria should be revisited to improve its significant on investment decision of manufacturing industry in Nigeria and increase the level of investment of manufacturing industry in Nigeria.