The goal of this research was to investigate empirically how government expenditure contributes to economic growth in East Africa. Most existing studies on the association between government expenditure and economic growth show conflicting results and mainlyfocus on developed economies. Hence this study focused on both the functional and composition of public spending of the East African countries over the period from 1980 to 2010, with a particular focus on sectoral expenditures: Education, ...
Abstract. This study makes an empirical case that the level of sensitivity of economic growth to political and economic institutional reforms in Nigeria matters for sustained and sustainable economic performance both in the short, medium and long term. We first document the empirical evidence that successive regimes in Nigeria were indifferent to the impact of institutional reforms on economic growth. Several regimes both military and civilian pursued time bound and ambitious economic goals...
ABSTRACT Despite the gains from capital and labour productivity, there is still a problem of low total factor productivity (TFP) in Nigeria. This study, therefore, examined the impact of imports on total factor productivity as an alternative to the conventional sources of productivity gains for the country. The study covered the period 1980-2011. Building on the theoretical Cobb-Douglas production function, we developed and estimated an empirical model which incorporated Foreign Direct Inve...
ABSTRACT Small and medium-sized enterprises (SMEs) make up approximately 90 per cent of Uganda's private sector and contribute two-thirds of national income. In Uganda, leasing has bridged the current financing gap experienced by SMEs, and efforts have been made to improve the leasing competences of SME Managers yet many more SMEs close shop annually. This empirical study sought to establish the relationship between leasing competence, lease structure and perceived performance of SMEs. The ...
TABLE OF CONTENTS Title page……………………………………………………………………………… i Approval page………………………………………………………….......................... ii Certification…………………………………………………………………………… iii Dedication…………………………………………………………................................ iv Acknowledgement……………………………�...
ABSTRACT Every time the economy recesses the role of government intervention as proposed by Keynes again reiterates. However the nature and magnitude of these policies are important to note. It is on this premise that this study examines the impact of oil revenue fluctuations and fiscal policy response on economic growth in Nigeria. The study used data from the Central Bank of Nigeria (CBN) Annual Reports and Statistical Bulletin, the World Bank Indicators and National Bureau of Statistics. T...
ABSTRACT Public expenditure1 is not only used for stimulation of aggregate demand, it is also a useful tool for redistribution of wealth and provision of public goods. Consequently, the size and object of government expenditure becomes a leading policy issue of general concern in most national and international gathering. To proffer the much needed professional guidance on such occasion at the local level, this study therefore carried out economic analysis of public expenditure growth and opt...
ABSTRACT Primarily, the paper assesses the determinants of non-oil import demand with the aim to empirically measure the relative strengths, weaknesses and nature of the determinants, and subsequently assess the extent to which results are in conformity with those previously obtained on a wider aggregate of the Nigerian economy. An econometric method of analysis which encompasses wide range of test was employed, using data from the Nigerian economy over the period 1970 to 2009. Results of the...
Abstract The study examined the efficient market hypothesis and Nigerian capital market in relation to information contained in dividend and bonus issues announcement to ascertain the speed at which the market adjust to all the relevant available information on share prices of the listed firms in the main board market. To estimate the speed of adjustment of daily share prices of 33 sampled firms listed in the market in semi-strong form, market model developed by Fama (1969) is employed. From ...
ABSTRACT This study analyzes the interactions between remittance inflows and human capital development: implication for economic growth in Nigeria. Using Nigeria most recent data set on remittances inflows, human capital development and economic growth this study investigated how remittances inflow influences education and health spending in Nigeria. To unravel this, we adopted an Autoregressive Distributed Lag (ARDL) model. We estimated an error correction equation due to the long-run nature...
ABSTRACT This study was carried out to test empirically if Nigeria’s pattern of production and trade is consistent with the Heckscher-Ohlin framework. It was necessitated by the fact that Nigeria is abundantly endowed with labour resources, fertile land, and good climatic conditions among others. In addition, there have been varying results among different existing studies of empirical evidence of the Heckscher-Ohlin framework in different countries of the world. Most of these studies showe...
ABSTRACT This study examined the relationship between exchange rate variations and migrants’ remittances to Nigeria. The time-series econometric method of Vector Error Correction (VEC) was applied to estimate the demand-supply equation for remittance transfers. An empirical model that links remittances to its potential determinants was specified and estimated using multivariate Johansen co-integration test and complemented by impulse response and variance decomposition analyses. The key res...
ABSTARCT The need to capture stock market and foreign exchange market nexus in Nigeria is underscored by the rapidly expanding financial markets integration due to trade and financial liberalization policies which seem to have enhanced the inflow of capital as well as accelerated investment/business interactions. Theoretically, the relationship between stock prices and exchange rate can be either positive or negative and can also run either way. This study therefore captures returns/mean and ...
ABSTRACT Government expenditure is a very important fiscal tool used by policy makers to stimulate the economy. Therefore, the study of its determinants has led us to include energy consumption in this study. The study therefore, investigated the nexus between government expenditure and energy consumption in Nigeria covering a period of 1981-2013 under the frameworks of ARDL and VECM. Findings show that there is a long-run relationship among the variables. In addition to this, results of the ...
ABSTRACT This study was the brain child of the earnest desire to unravel the impact of the incessant fluctuating oil prices on two crucial sectors of the Nigerian economy; the agricultural sector and the industrial sector which used manufacturing sector as proxy. The analysis employed the unrestricted Vector Autoregressive methodology as its empirical technique, with a quarterly time series data spanning from 1987 quarter one through 2014 quarter four which covered 112 observations. The resul...