ABSTRACT This paper tests the validity of Purchasing Power Parity (PPP) hypothesis for two Anglophone ECOWAS members, Nigeria and Ghana. The researcher tested the relative PPP equation. It also employed the ADF univariate Unit Root test for the stationarity of the exchange rates of each of the countries. Exchange rates and CPIs data for all countries were collected on annual basis for the period between 1970 and 2005. The results show the non-rejection of the null hypothesis of the fail...
ABSTRACT The study focuses on foreign aid and poverty dynamics in Africa. Specifically, the study addressed two objectives ;(1) the relationship between poverty and aid and (2) the relationship between mortality rate and aid. Following these objectives, the study used fixed effects estimation techniques for the two objectives, the choice of which was determined empirically using Hausman test. Based on this technique, the following results were arrived at:(1) that the coefficient of offi...
Abstract Remittance inflow in Nigeria has surpassed that of FDI since 2007, (World Bank ,2011). The increase in the volume of remittance inflow to Nigeria has generated much interest in terms of knowing what impact it has on the economy. This work therefore has its focus on determining the impact of international remittances in financial sector development in Nigeria. It specifically concentrated on determining the impact of international remittances on financial development and on the c...
Globalised Financial Flows, Capital Market Deepening, and Economic Growth: the Nigerian Experience
Abstract The study has as its objectives, to determine the impact of macroeconomic policies on private capital formation in Nigeria. In addition, the ~tudyso ught to evaluate ipso hcto the pattern of responses of private investment to shocks on macroecononlic Policies. And finally, to determine the causal ordering of the mediating variables connecting private investment :?nd macroeconomic variables. The study applied the co- integrated vector autoregressive framework. The first objective of ...
ABSTRACT This study examines the determinants of wage differential in Nigeria. The contribution of wage differential or inequality to total income inequality in Nigeria cannot be underestimated. This goes without saying that the gross income inequality reckoned in Nigeria could be reduced by tackling the wages disparity. To do this, the study designs three main objectives; to ascertain the impact of education and experience on wage differential in Nigeria, to ascertain the relationship that ...
ABSTRACT Although crude oil in Nigeria is indeed a blessing, the fly in the ointment is the fluctuating price of oil which looks somewhat like a curse. The overdependence on crude oil as the country’s main product leads to Dutch disease syndrome. This study contributes to existing literature by estimating the impact of oil price fluctuations and oil revenue on welfare in Nigeria for the period 1981-2014. Employing the Ordinary Least Square (OLS) estimation technique within an Error C...
ABSTRACT Baringo District is one of the districts in Kenya that is categorized as an ASAL area, characterized by high poverty and food insecurity. Subsistence farming and pastoralism have been and still are the main source of livelihood for majority of the people. However, since crop and livestock agriculture are susceptible to drought, beekeeping has become the sole most important alternative form of sustenance. Despite documented potential benefits of value addition, honey is majorly produ...
ABSTRACT Sugarcane and soybean are emerging value chains in Awendo Sub-County of Kenya with the potential for alleviating the perpetual problems of food and nutrition insecurity, poverty and unemployment among the rural households. Agricultural extension officers have educated farmers on the economic benefits of sugarcane-soybean integration but the uptake and performance of this cropping system has not been evaluated. This study therefore aimed at contributing to increase in farmer’s house...
ABSTRACT The demand for animal products is projected to increase progressively due to extensive urbanization, rapid growth of human population and income dynamics. Despite the potential expansion of beef and dairy production, dairy goat production as an option for enhancing food security and income generation in Kenya is likely to benefit from this prospect. Essentially, goat milk is nutritionally superior to the cow milk. Although the importance of goat milk is empirically known, its valuati...
ABSTRACT Income inequality is one of the major underdevelopment problems facing developing countries including Nigeria. Despite serious attention given to inequality in both theoretical and empirical literature, it is still understudied in the case of Nigeria because most empirical studies overaggregate analysis. This study departs from existing studies in two ways. First, the study disaggregates household consumption expenditure into food and nonfood and thus decomposes inequality into...
ABSTRACT Most economic rationale for granting special incentives for attracting Foreign Direct Investment (FDI) is based on the belief that FDI bridges the ‘idea gaps’ between rich and the poor nations in addition to the generation of technological transfers and spillovers. This study seeks to carry out an empirical investigation of the impact of macroeconomic instability on FDI inflow in Nigeria covering the period 1970 to 2013. The linear regression analysis was applied and it wa...
ABSTRACT This study investigates the macroeconomic determinants of Balance of Payments dynamics in Nigeria between 1970-2011, using econometric method of cointegration and Error correction mechanism. It found that Balance of Payments cointegrated with all the identified explanatory variables, suggesting that Balance of Payments disequilibrium in Nigeria could be caused by naira/dollar nominal exchange rate, interest rate differential, external debt growth and Government spending. Again the d...
Abstract Background of the Study: At the inception of SAP it was clearly stated that " the objective of Government is to evolve a realistic and sustainable market determined exchange rate for the Naira, so as to reduce the demand for foreign exchange to available supply and to reduce the pressure on the balance of payments" (CBN Annual R'eport 1986, Obadan 1993~377) " --- The package of adjustment measures adopted from 1986 placed a heavy burden on monetary policy for containing domestic and ...
Abstract Low output growth in Nigeria have been attributed to a riumber offacto~ssu ch as poor technology, demographic factors, social conditions, poor macroeccwomic policies, insufficient infrastructural facilities and high dependence on primary products What however, attracts lesser attention is the interface between output growth and macroeconomic fluctuations. It is not only that output ~rowth is low but it fluctuates beyond the expectations of different macroeconomic analysts There have...