Thesis and Dissertations

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THE GLOBAL ECONOMIC CRISIS AND THE MILLENNIUM DEVELOPMENT GOALS (MDGs): A CASE STUDY OF UNIVERSAL PRIMARY EDUCATION (GOAL 2) IN FCT, NIGERIA
(2015-12-20) Oisamoje, Blessing.
This study examined the implication the global economic crisis had on the achievement of the Universal Primary Education (MDG 2), in the Bwari and Kwali Area Council of FCT, Abuja, Nigeria. With the outburst of the global economic crisis, most developing countries had their economies crippled by the crisis. Also, this meltdown posed a risk on the achievement of the Universal Primary Education, as a result of the inability of donor countries to contribute their quota of aid assistance. The objective of the study is to examine the implication of the global economic crisis on attaining the set Millennium Development Goal of the Universal Primary Education. The study is also to ascertain the causes and effects of global economic crisis and determine the extent to which the MDG 2 have been achieved in FCT, Nigeria. The theory adopted for the study is the dependency theory, which attributes that the cause of the dependency of developing countries on developed countries has been made possible because of the dependent ' relationship that exist between the core (developed countries) and periphery (developing countries). The data used for the study are generated from both primary (questionnaires and interviews) and secondary sources. Findings from the study show that the global economic crisis alongside donor assistance had a negative adverse-effect for the achievement of the Universal Primary Education. The study therefore recommends that the Government show strong political will to strengthen primary education in the country, by developing stronger educational policies to support the framework of the Universal Primary Education. The study further recommends that there ■should be an increased funding and awareness for the achievement of the Universal Primary Education by the government. TABLE
Open Access
THE EFFECT OF LIQUIDITY RISK ON THE PERFORMANCE OF SOME SELECTED QUOTED COMMERCIAL BANKS IN NIGERIA
(Department Of Economics, Faculty Of Social Sciences, Nasarawa State University, Keffi, 2016-11-10) Vokpuize, Uti-Idah
This project titled ,(The effect of liquidity risk on the performance of some selected quoted commercial banks in Nigeria ” was under taken with the following objectives: to determine the effect of money deposits on Net Operating Profit Margin of selected quoted Commercial Bank in Nigeria, to examine the effect of cash on Net Operating Profit Margin of selected quoted Commercial Banks in Nigeria and to investigate the effect of Liquidity-Gap on Net Operating Profit Margin of some selected quoted Commercial Banks in Nigeria. The research adopted Ex-post Factor research design; this enabled the researcher to gather data from 2010 to 2015 from the sampled banks that is Diamond Bank, Eco Bank and KeyStone Banks. The data gathered was analyzed with Multiple Regressions, F-test at 95% confidence level in addition to Statistical Package for Social Science (SPPS) which was used to test the hypotheses. The result shows that: performance of Commercial Banks in Nigeria is negatively affected due to the Liquidity Gap, the increase in the cost ultimately affect the performance of the bank The researcher therefore, recommended for banks to establish the required cash in each product segment and maintain the optional level which help in reducing the cash balance level and increase their customer deposit base through making the product accessible to more customers especially the low income earners who have been neglected for a long time by the main stream banks. At the same time banks should consider targeting the corporate clients who will be willing to retain large cash in the banks for a longer period.
Open Access
THE CONTRIBUTION OF THE AGRICULTURAL SECTOR TO ECONOMY GROWTH OF NIGERIA
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCE NASARAWA STATE UNIVERSITY, KEFFI, 2017-06-26) Gabriel, Attabo Adejoh
Agriculture is known as the engine and panacea for economic growth in most developing nations of the world. As once asserted by Nobel laureate in economics Gunner Myrdal “The battle for long-run economic growth is either won or lost in the agricultural sector ” Nevertheless, how this path births economic prosperity has been the subject of debates among economist and development scholars. It is on this premise that this study is based. This study empirically examines the impact °f agricultural sector on the economic growth of Nigeria. The study is conducted using annual time series data running from 1981 to 2013. The study employs Johansen multivariate cointegration test and Vector Error Correction model (VECM) as the estimation techniques. The results of the study reveals that Real Gross Domestic Product (RGDP), agricultural output and oil rents have a long run equilibrium relationship according to the Johansen Multivariate cointegration test. Whereas, the VECM result shows that the speed of the adjustment the variables towards their long-run equilibrium path was low, estimated as 10.3042%. Based on the empirical outcomes of the result obtained, the following recommendations were offered: Firstly, government and financial institutions should make credit facilities readily available to farmers with little payback. Secondly, government should promote the diversification of the Nigerian economy to other non -oil sector and more allocation in terms of budgeting to the agricultural sector.
Open Access
ANALYSIS OF THE CONTRIBUTION OF TOURISM TO ECONOMIC GROWTH OF NIGERIA: 1995 - 2017
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI, NIGERIA, 2018-05-11) Titilay, Fidelia Akintelure
This study analysed tourism and economic growth in Nigeria. The main objective of the study is to examine the contribution of tourism sector to the economic growth of Nigeria. The study utilizes the econometric methods of unit root, cointegration and granger causality analysis to rid the time series data of unit root, establish the causal link and the long run relationship between tourism and economic growth in Nigeria. The result of the study showed that total visitor exports and capital formation were significant determinants of economic growth in Nigeria in terms of the magnitude of their contribution to the economic growth process of Nigeria. The empirical result of the study further shows that tourism revenue and tourism employment are inversely related to GDP as evidenced in their negative coefficients. This negative relationship is largely explained by poor policy environment, insecurity and leakages of tourism revenue via remittances and interest payments on foreign capital in the Nigerian tourism sector. The study therefore recommends increased government’s investment and private sector participation in the tourism sector
Open Access
REVENUE GENERATION CAPACITY BY LOCAL GOVERNMENT IN NIGERIA (A CASE STUDY OF KEFFI LOCAL GOVERNMENT NASARAWA STATE)
(Department of Economics, Nasarawa State University, Keffi., 2018-05-21) Idris, Garba
The community had long been identified and recognized by the government as the hub to focus on, if the whole country must experience development. In order to achieve this objective, it led to the creation of local government as the third tier of government. The local government was established to bring development to the grass root. For any project implementation, the key element is finance, so it is important to mobilize all source of revenue accruing to the local government authority, so as to record meaningful development at the grass root. Therefore, this study work specifically examines and evaluate Keffi local government in its effort towards revenue generation and expenditure in terns of development at the grass root, within 2000-2008. The major source of data is secondary data. Upon the finding, it was observed that little or no meaningful project has been embark on by the local government authority, despite the huge amount of fund. This is trace to the problem such as had leadership, corruption and misappropriation among the local government officials. Finally, this study calls for appropriate measure to restructure the local government council, so as to improve the performance of the local government and bring about growth and development at the grass root.
Open Access
HUMAN CAPITAL DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA (1980-2015]
(Department Of Economics, Nasarawa State University, Keffi, 2018-06-01) Veronica, Odigure A.
Human Capital Development is an Integral pait of any Country’s Development and Economic Growth, and cannot be over Emphasized and has been the Fulcrum of aid and assistance by International Agencies and Developed Countries, Furthermore, Evidence from Developed Countries Suggests that Human Capital has been the major driver of their Development Process. This notwithstanding, Human Capital Development and the Nigeria Economy has been a subject of debate. The main aim of this Paper is to carryout Empirical Investigation on Human capital and economic growth in Nigeria using time series data from 1980-2015. This Paper Employs Trends Analysis, the Johansen Co integration and Ordinary Least Square Technique (OLS). Based on the Findings, the Policy Implications are in three directions (i) to retain the continuous long run relationship with GDP and Human Capital Development, Effort should be made to harmonize the Activities in the Health, Education Sector with much Attention on Funding. The harmonization of the activities in these two sectors will have long run effect on the economy, (ii) As one of the factors of human capital development, government expenditure on education was found to have positive effect on the economy. In the light of this government should try as well to meet up with world standard benchmark on education expenditure in the annual budget. In so doing this will improve on the economy (Hi) government expenditure on health was found to have negative effect on the economy. Therefore, effort should be made by government to address the agitations by the health, and education sectors which always resort to frequent strike actions. The recommendation drawn from the study centered on revisiting the workable policies which should be put in place to bring about an overall economic growth, expenditure on health and public education should be utilized effectively and efficiently so that the country would experience quality health care services and quality education system. Effort should be made to equip our health and education sector so that capital flight in the name of foreign medical treatment is reduced.
Open Access
EMPIRICAL SURVEY OF THE RELATIONSHIP BETWEEN POVERTY AND ACCESS TO HEALTHCARE IN NASARAWA STATE, NIGERIA
(Department of Economics Nasarawa State University, Keffi, 2018-06-11) Agum, Charles
The broad objective of this study was to empirically investigate the relationship between poverty and access to healthcare in Nasarawa State using Instrumental Variable approach and the study adopted the GrossmanModel. The area covered are three senatorial zones namely: Nasarawa North, Nasarawa South, and Nasarawa West. In Nasarawa North, General Hospital, Akwanga. In Nasarawa South, DalhatuAraft Specialist Hospital, Lafia while in Nasarawa West, Federal Medical Centre, Keffi. Questionnaire was the instrument used in data collection; and the respondents were required to read each question carefully and indicate their agreement or disagreement with the statement using 5 – point likert scale.Using Smith (1984) sample formular, a sample size of 298 was arrived at from a population of 3508; and these samples made up the number of questionnaires that were distributed. The study used an instrumental Variable Approach, and STATA 14 statistical software used. The results revealed that, the per capita income has a negative and insignificant impact on peoples’ access to health care facilities in Nasarawa State. In addition, it was discovered from the results that, the per calorie intake (such as protein, carbohydrates, vitamins, minerals, etc) have a poor impact on under 5 mortality rates in Nasarawa State; and these were due to lack of awareness and ignorance, food insecurity, poor intra family food distribution, poor access to good quality health and sanitation services. Finally, the result showed that, theliteracy level has an insignificant effect on maternal mortality rate in Nasarawa State. Conclusively, no nation can afford to waste its greatest human resource which lies in the health of its people. Complex societal, economic, and political factors must be overcome in order to provide effective coordinated programmes targeted at eradicating poverty and improving the health condition of people living in Nasarawa State. The study therefore recommends that amount charged on health services provided to rural communities, especially in Nasarawa State should be provided in a subsidized form to enable those with low income to have access to available health care services. More so, there is the need for additional resources for healthcare, which should be accompanied by reforms to improve efficiency and effectiveness of healthcare organization and delivery in Nasarawa state. The State government is encouraged to establish some initiatives that are expected to enhance the health status of the people of Nasarawa State.
Open Access
IMPACT OF FOREIGN DIRECT INVESTMENT ON NIGERIA’S ECONOMIC GROWTH
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI, 2018-08-03) Japheth, Danladi Osidoma
This study examines the impact of Foreign Direct Investment on economic growth in Nigeria. The economic growth was proxied by real gross domestic product whilst the Foreign Direct Investment (FDI), Exchange Rate (EXR), Inflation Rate (INFR) and Interest Rate (INTR) were the regressors. Secondary data was employed and sourced from the statistical bulletin of the Central Bank of Nigeria (CBN,) The study adopts the Ordinary Least Square Method (OLS) for estimation. The stationary properties of the variables were determined using the Augumented Dickry-Fuller Test, while the Johansen Co-integration and the Granger Causality test were employed to determine the presence or otherwise of long run relationship and causality among the variables. The result reveals that Foreign Direct Investment (FDI) is positive and significantly contributes to economic growth of the Nigerian economy, while Exchange Rate (EXR), Inflation Rate (INFR) and Interest Rate (INTR) demonstrate negative and insignificant impact on economic growth. Therefore, the study recommends that government should provide an enabling environment that will encourage foreign investors to invest in Nigeria economy as well as ensuring a favorable Exchange rate, Inflation rate and Interest rate.
Open Access
ANALYSIS OF IMPACT OF SAVING DETERMINANTS ON RESIDENTS OF ABUJA MUNICIPAL AREA COUNCIL
(Department of Economics, Nasarawa State University Keffi, 2018-09-17) Chigozie, Gift Chemela
This study examines impact of saving determinants on residents of Abuja Municipal Area Council Descriptive and explanatory research designs are used. A survey technique was employed to collect data from the inhabitants of Abuja Municipal Area Council A sample size of 120 is drawn from the population by the use of quota and purpose non - probability sampling method with data from primary source. The quantitative data is analyzed through descriptive statistics and qualitative with content analysis. Statistical packages for social science (SPSS version 21) and multiple regression analysis are employed with ANOVA to establish the significance level of regression model using F- statistics and t- Statistics to interpret. The ages of the respondents fall from 18 - 51years above, with majority of the respondents being married, of income, the presence of financial institution and interest rate has an impact on the savings of the inhabitants of Abuja Municipal Area Council. The research recommends that the government should include financial literacy in the educational curriculum and also the financial institution should provide more saving outlets. The result showed that the level
Open Access
EFFECT OF MACROECONOMIC VARIABLES ON THE GROWTH OF REAL ESTATE INVESTMENT IN NIGERIA: 1992 – 2016
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES, 2018-09-20) Owuna, Abubakar Abdullahi
This study aims at examining the effect of macroeconomic variables on the growth of real estate investment in Nigeria, 1992 – 2016. Secondary data on the selected macroeconomic variables were obtained from the Nigeria National Bureau of Statistics (NBS). Descriptive and inferential statistics were used to determine the effect of macroeconomic variables on the growth of real estate investment. This involved the use of weighted means, Pearson Product Moment Correlation and the Ordinary Least Square Regression. Findings from the study showed that interest rate has an inverse relationship with the growth of real estate investment, while money supply and population are positively related with the growth of real estate investment in Nigeria. This study recommends that Government should formulate favorable interest rate policies to assist in stabilizing property prices, thereby making housing more affordable. Secondly, monetary policy measures should be enhanced by the Government through the Central Bank of Nigeria (CBN) to increase money supply, in order to increase investment in real estate. Also, the financial reform and credit policy of the Federal Mortgage Bank should be geared towards improving the functions of the National Housing Fund (NHF) by making more loanable funds available to the civil servants and the non-organised private sector (large population) through soft loans bearing attractive interest rate and lessen the stringent collateral security requirements on the citizens to enhance housing affordability.
Open Access
ANALYSIS OF IMPACT OF EXCHANGE RATE POLICIES ON MACROECONOMIC PERFORMANCES IN NIGERIA: 1986 - 2017
(Department Of Economics, Nasarawa State University, Keffi, 2019-01-01) Dalong, Manasseh Ayuba
This study examines the impact of exchange rate policy in Nigeria for the period 19H6 to 2017. In order to achieve the study objectives, secondary data were gathered from the publications of CBN. FBS. World study report and other text hooks. The objective is to determine the precise relationship between exchange rate and other macroeconomic variables such as Balance of Payment (BOP), inflation. Gross Domestic Product (GDP) and its decomposition (Agriculture, industry and Service output). Ordinary Least Square regression method was used. The result of the regression shows that GDP has a negative relationship with exchange rate in Nigeria. The result shows that Naira rates depreciates during inflation and if well managed can lead to a surplus in BOP To increase sectorial output, the result reveals that appreciation policy of exchange rate can be used. Therefore, to obtain a sustainable growth and development. appropriate exchange rate policies should be used to control its effect on other macroeconomic variables and as when due.
Open Access
ASSESSMENT OF THE CONSUMERS’ ATTITUDE TOWARD POWER SUPPLY IN ABUJA MUNICIPAL COUNCIL ACASE STUDY OF POWER HOLDING COMPANY OF NIGERIA (PHCN) BY
(Department of Economics, Nasarawa State University Keffi, 2019-01-17) Monokpo, Blessing Kadu
This Research Project assessed the consumer's attitude toward Power Supply in Abuja Municipal Council using PPICN as a case study. It takes into recognition the presence of Variables such as the effect of low supply of electricity, Increase in pricing of Electricity and High Corruption Practices of Most PHCN workers and its impact on the consumers * attitude towards electricity bill payment and its general impact on economic development in Nigeria. The adopted descriptive methods by relying on primary data generated by means of questionnaire administration to consumers. A simple percentage (ratio) was employed to analyse the data gathered. The result shows that majority of the respondents are not satisfied with the services being offered by the power holding company of Nigeria in the Abuja Municipal Area Council and hence, do not promptly pay their bills or find other means in obtaining electricity. It was however recommended among others that there is the need to upgrade the power supply in the Abuja Municipal council, while there should be an improvement in the working condition and office environment of the PHCN staff
Open Access
ANALYSIS OF THE IMPACT OF INTERNATIONAL TRADE ON ECONOMIC GROWTH IN NIGERIA: 1986-2016
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASSARAWA STATE UNIVERSITY, KEFFI, NIGERIA, 2019-05-13) Mary, Felicia Haba-Okara
International trade policies are targeted at achieving competitive advantages and optimal productivity in the economy, with a view to stimulating economic growth. In the light of this, this study empirically investigates the impact of international trade on economic growth in Nigeria between 1985 and 2016 using a multiple linear regression model and the Ordinary Least Square (OLS) estimation technique. The Augmented Dickey Fuller unit root test was used to test for the stationary of the time series data used for regression analysis. The results reveal that the relevant indicators of international trade, such as the coefficients of trade balance, exchange rates, foreign direct investments and degree of trade openness, explicitly captured in the specified regression model have significant impact on economic growth in Nigeria during the period under review, implying that that international trade is an important determinant of productivity in Nigeria. The study therefore recommended among other things that strategies should be put in place by the government to create an effective policy framework for effective management of indicators of international trade in the Nigerian economy with a view to enhancing sustainable productivity and the overall transformation of the Nigerian economy
Open Access
PUBLIC EXPENDITURE ON EDUCATION AND POVERTY REDUCTION IN NIGERIA
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI, 2019-06-18) NDANSA, ADAMU
This study examined the impact of government education expenditure on poverty reduction in Nigeria. The objective of the study is to look at the impact of government education expenditure on economic growth. It employed vector autoregressive approach as technique of analysis with time series data for the period, 1981-2016.The theoretical framework and the methodology of the study are based on the Keynesian macro-economic theory, which assumes that any increase in government expenditure has positive and significant impact on economic growth and level of poverty. The variables were tested to determine their level of stationarity using Augmented Dicker Fuller (ADF) test, co-integration test, error correction model and granger causality test. The results shows that there is a significant and negative relationship between government expenditure on education, youth trained, entrepreneurship Scheme, Open Apprenticeship Scheme and Loans to small scale enterprises on economic growth in Nigeria, the study recommends that government should, as a deliberate policy, increase allocation to the economic and social sectors, such as education, in view of their direct impact on the poor
Open Access
IMPACT OF FISCAL POLICY ON ECONOMIC GROWTH IN NIGERIA
(DEPARTMENT OF ECONOMICS, FACULTY OF SOCIAL SCIENCES, NASARAWA STATE UNIVERSITY, KEFFI, 2019-07-13) Gyang, Joshua Emily
Despite government efforts aimed at instilling discipline on the Nigeria fiscal policy and fiscal deficit by way of economic diversification policies and implementation of other fiscal variables like total government expenditures, public debts and revenues, the economy is still in comatose. Government expenditure has continued to rise due to the huge receipts from production and sales of crude oil, and the increased demand for public goods. Unfortunately, rising government expenditure has not translated to meaningful growth and development. Based on these problems, the study thus examined the impact of fiscal policy and deficit financing on economic growth in Nigeria between 1981 and 2016 using Error Correction Technique. The research design is based on secondary source of data. Co-integration analysis was utilized to determine the longtime trend on the variables. The bound test approach to co-integration was conducted and the results revealed that there is a long-run equilibrium relationship that exists between fiscal policy and deficit financing on economic growth in Nigeria. The Findings from the study further revealed that government total expenditure have no significant impact on the growth of the Nigerian economy within the period under review. Hence government total revenue have a positive impact on economic growth in Nigeria. Based on these findings, the study recommends that deficit financing should be managed effectively, and that government should ensure an efficient public expenditure process and fiscal discipline. The government should diversify and broaden its revenue base so as to reduce the negative shocks from oil revenue; and equally, there is the need for government to reduce its recurrent expenditure and spend the deficit on economically viable and productive ventures that will boost economic activities and provide jobs for the teaming Nigerian labour force.
Open Access
EFFECT OF FISCAL POLICY ON ECONOMIC GROWTH IN NIGERIA
(Department of Economics, Nasarawa State University, Keffi, 2019-07-17) Taimako, Sunday Anyuabaga
This study examines the effects of fiscal policy on economic growth in Nigeria for the period 1995-2015. The study used times series data in its analysis. The model adopted for the study is Robust Least Square (RLS) technique using M- estimation method to estimate the model. Also, some econometric techniques such as Granger Causality, Cointegration and ADF tests were employed in the analysis of the data. The findings established that there exist positive and significant relationship between fiscal policy and economic growth in Nigeria. From the results, one-unit increase in GE, GTR and TDF will lead to 4.222740, 0.002013 and 8.616608 units increase in RGDP respectively. The study recommends increase in government expenditure especially in the productive sectors in order to boost economic performance. The study also recommends government to develop a robust tax base and sound policies to strengthen tax authorities in Nigeria so as to boost economic growth.
Open Access
EFFECTS OF MANUFACTURING SECTOR OUTPUT ON ECONOMIC GROWTH IN NIGERIA
(DEPARTMENT OF ECONOMICS FACAUTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI, 2019-07-26) Ebigye, Salihu Ebosu
This study examines the effects of manufacturing sector output on economic growth in Nigeria for the period 1981-2015. Nigeria has enjoyed a long period of sustained economic growth since 1980s but the contribution of manufacturing sector output to the country’s real gross domestic product (RGDP) is far from being realized when compared to other emerging economies of the world where structural changes have already occurred and where millions are lifted out of poverty. The study utilizes secondary data and co-integration analysis to estimate data for its findings. The results of the major findings demonstrate a positive effect of the manufacturing sector output (MSO) on economic growth (GDP). The findings equally revealed that Productivity (PR) and exports (EXP) demonstrate positive and strong effects on economic growth (GDP). More so, the indexes of manufacturing sector output, productivity and exports have enhanced economic growth over time except for manufacturing capacity utilization during the study period. The study therefore, recommends that the Nigerian government in collaboration with major stakeholders should improve the performance of the manufacturing sector through provision of adequate access to credits and other incentives so as to increase capacity utilization, employment opportunities, boost productivity, provide ready market, improve exports towards achieving sustainable economic development.
Open Access
IMPACT OF INFLATION ON NIGERIA’S ECONOMIC GROWTH 1986-2012
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCE NASARAWA STATE UNIVERSITY, KEFFI, 2019-08-01) Ojugbo, Abru Matthew
This study investigates the impact of inflation on economic growth of Nigeriabetween 1986- 2012. Typically, this relationship has been analyzed using simple correlations and deterministic models, incorporating unemployment rate into the framework for analysis, through the application of Ordinary Least Square (OLS) technique in estimating the effects of unemployment and inflation on growth, Augmented Dickey-Fuller test and Phillip"s-Perron test statistics were employed to test the presence of unit root in the series, after which Johansen cointegration test was employed to test the existence of long-run relationship between economic growth and the independent variables. The results of unit root suggest that all the variables in the model were stationary. The Johansen cointegration result shows that there exist 2 cointegrating equations, implying the existence of long run relationship between economic growth, unemployment and inflation. The results also reveal that unemployment impacts negatively on economic growth while inflation rate impacts positively on economic growth. However,, only the coefficient of unemployment was found to be significant. The hypothesis test result using f-statistics reveals that unemployment and inflation jointly affect economic growth at 1 percent and 5 percent respectively, with values of 5.8900 in model 11 and 4.0637 in model III This therefore, implies that a good performance of the Nigerian economy in terms of growth may be achieved with lows rate of unemployment and inflation in the country. Based on the coefficients of unemployment - 4.6727 and inflation 0.0246 in model III, it follows that 1 percent reduction in unemployment would increase economic growth by 4.6727 percent, while 1 percent increase in inflation would increase economic growth by 0.0246 percent; hence a major policy implication is that concerted effort should be made to reduce unemployment and stabilize the prices of goods and services (inflation) so as to achieve high, rapid and sustained economic growth rate in Nigeria.
Open Access
IMPACT OF PUBLIC EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA
(Department of Economics, Nasarawa State University, Keffi., 2019-08-21) MOSES, MANGBA ANZAKU
The link between public expenditure and economic growth has attracted considerable interest on the part of both economic researchers and policy makers both at the theoretical as well as empirical levels. This study investigate the impact of public expenditure on economic growth in Nigeria over a period 1981-2015. Public expenditure outlays provide public goods such as education and other infrastructure and thus put money in people’s pocket which is expected to boost economic growth. The study used time series data on Capital expenditure, recurrent expenditure and gross domestic product, data sources from Central Bank of Nigeria. The econometric approach that is adopted in examining the impact of public expenditure on economic growth in Nigeria is the Ordinary Least Squares (OLS). It employs augmented Dick-Fuller test for stationary, Johansson Co-integration method, error correction techniques and Granger causality test. Result shows capital expenditure has positive significant effect on economic growth via GDP in Nigeria. Also public expenditure was found to be statistically significant in explaining economic growth in Nigeria as the R2, student t test, and the F-Test showed high level of significance, long-run equilibrium convergence between gross domestic product and capital and recurrent expenditures, while recurrent expenditure was statistically significant in explaining growth, the capital component was significantly low in explaining growth for the period under review. The recommendations in this research are that Government should ensure that capital expenditure and recurrent expenditure are properly managed in a manner that will raise the nation’s production capacity and accelerate economic growth. A proper surveillance on capital spending is required in order to boost economic growth in Nigeria. The government must ensure that resource allocated to capital projects are properly supervised and monitored to prevent fund misappropriation.
Open Access
EXAMINATION OF THE DIFFERENTIAL IMPACT OF INTERNATIONAL TRADE ON ECONOMIC GROWTH AMONG ECOWAS AND NON ECOWAS COUNTRIES: 2000 - 2015
(DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES, NASARAWA STATE UNIVERSITY, KEFFI – NIGERIA, 2019-09-11) Ibrahim, Aadamu suleman
The objective of the study was to examine the differential impact of international trade on economic growth among ECOWAS and Non-ECOWA countries from 2000 – 2015. To achieve this objective, the researcher used secondary data sourced from the World Bank Data Base on Macroeconomic Indicators and Selected Statistics on African Countries from annual publications of African Development Bank. GDP was used as a proxy for economic growth while import, export, and foreign exchange rate as proxies for international trade. The data were subjected to the following diagnostic tests: Unit Root Test, Co-integration Test and Granger Causality Test as well as Error Correction Mechanism before the estimation of the model. The model used Neoclassical Solow Growth Model adopted from Obadan (2008) and Usman (2011). E-views 10.0 and STATA Econometric Software Version 14.2 were used to estimate the model. The researcher selected six ECOWAS and six Non-ECOWAS countries based on the availability of data. The results of the study revealed that international trade drives economic growth in both ECOWAS and Non-ECOWAS countries. Comparatively, international trade promotes economic growth more in the Non-ECOWAS countries than the ECOWAS countries. The study recommends among others that ECOWAS countries need to borrow a leaf from their Non-ECOWAS countries in terms of trade enhancing policies. This is because the Non-ECOWAS countries benefit more from trade than the ECOWAS countries