JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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FINANCIAL SYSTEM STABILITY, INSECURITY AND REAL SECTOR GROWTH IN NIGERIA
Get PDFFrom 1985 to 2021, this article analyses the effect of a stable financial system on real sector growth in Nigeria. Information for this study came from secondary sources such as the World Bank's World Development Indicators, the Central Bank of Nigeria's Statistical Bulletin, the National Bureau of Statistics (NBS), and the audited annual report and accounts of deposit money banks (DBMs). To determine if the variables were stationary, the Augmented Dickey Fuller unit root method was used. Different orders of integration were shown by the ADF unit root test. As a result, while some variables got stationary at order zero (I(0)), others became stationary at order one (I(1)). In light of this circumstance, the ARDL Model was used in the research. Empirical result from the ARDL analysis found that liquidity ratio (LR), and kidnaping rate (KPR) had a positive and significant relationship with growth rate (GRT) in the long–run and both the previous and second year period of the short-run. However, nonperforming loans (NPL) and arm robbery rate (ARR), are reported to be negative with growth rate (ARR) in the long-run as well as the previous and second year period of the short-run. Finally, the relationship between exchange rate (EXR) and growth rate (GRT) suggest a negative but significant relationship in the current and second year period of the short-run. Hence, it was concluded that financial system stability had a significant influence on growth rate in Nigeria. It was recommended amongst others that, the financial institutions particularly the deposit money banks, (DMBs) should increase their drive for deposit. This will help them increase their liquidity position and withstand periods of instability
IMPACT OF FOREIGN DIRECT INVESTMENT INFLOW ON ECONOMIC GROWTH OF SUB-SAHARAN AFRICAN COUNTRIES
Get PDFThis study examines the impact of FDI Inflow and Economic Growth of Sub-Saharan African Countries over the period 1981–2021. The objective of the study is to examine the impact of foreign direct investment inflow on economic growth of Sub-Saharan African countries. To achieve these objectives, Panel Autoregressive Distributed Lag (ARDL) was used. The results revealed that FDI and have a positive and significant long run impact on economic growth in sub-Saharan African countries. The short-run country-wise result revealed that FDI is positively related to economic in all the selected countries. The study therefore recommended that SSA countries should formulate more FDI-led policies and structural reforms that would encourage the openness of their economy in order attract more FDI and promote larger economic growth
IMPACT OF FOREIGN AID AND INSTITUTIONAL QUALITY ON POVERTY IN SUB – SAHARAN AFRICAN COUNTRIES
Get PDFThe purpose of this study is to examine the impact of foreign aid on foreign direct investment nexus in Sub-Saharan African countries. The system generalized method of moment is applied on 33 countries covering the period of 2002 to 2020. The study reveals that official development assistance (0.012) is positive and statistically significant on poverty rate proxy by household final consumption expenditure in the Sub-Saharan African (SSA) region. Again, the study discovered a non-linear relationship between official development assistance and poverty rate. The rest of the study reveal that interaction term of institutional quality and official development assistance is positive and statistically significant on poverty rate proxy by household final consumption expenditure. The endogenous variables of institutional quality and Gross Domestic Product are positive and statistically significant on poverty rate in the SSA region The study concludes that foreign aid and institutional quality significantly impacted positively on poverty rate proxied by households' final consumption expenditure in SSA countries. Based on the findings, it is suggested that, Sub-Saharan African countries should use the fund received from foreign aid to empower their populace in order to make them selfsustainable. They can achieve this through building institutions that will train masses on selfemployment
FINANCIAL DEVELOPMENT, URBANIZATION AND THE ENVIRONMENTAL NEXUS IN NIGERIA: A NON-LINEAR ANALYSIS
Get PDFThis paper examines the determinants of carbon dioxide (CO2) emissions by analysing the consequences of financial development (FD) and urbanization (URB) accompanied by economic growth (RGDP) in Nigeria over the period 1986-2022. The study used nonlinear autoregressive distributive lag (NARDL) model posing the asymmetry aspect that can happen among financial development, urbanization and economic growth which movements in either of the variables. The analysis establishes the asymmetric effect of URB, FD and RGDP shocks on CO2 emissions both in the short run, while FD and RGDP shocks impacted CO2 emission in the long run. Moreover, RGDP contributed significantly to CO2 emissions both in the short- and long-run. The study also fulfils to a large degree the existence of EKC associating the unilateral (inverted U shape) connection among FD, RGDP and CO2 emissions in Nigeria. Furthermore, the error correction model confirms a short-run relationship among the variables. Finally, the study proposes the implementation and use of clean energies and technologies are vital for controlling environmental degradation in Nigeria
IMPACT OF HEALTH AND EDUCATION EXPENDITURES ON POVERTY REDUCTION IN NIGERIA
Get PDFNigerian governments have continued to make concerted efforts on providing community goods and services to enhance welfare at the same time reduce poverty through its expenditures, yet no significant results as these expenditures are regularly influenced by factors such as corruption. Hence, this study look at the effect of health and education spending by government in reducing poverty in Nigeria spanning from 1996-2021 employing the ARDL bounds test methodology. Results of the analysis showed that spending on education and health expenditures are all significant at a 5 percent level of significance and are positively related to the dependent variable implying that on average, the higher the education and health expenditure, the higher the poverty reduction, ceteris paribus. While the short run results revealed that health expenditures negatively relate with poverty at the conventional level of significance, i.e 5 percent On the other hand, a positively significant association exists between spending on education and corruption with poverty reduction at a conventional level of 5 percent significance. The study suggested that the Nigerian government need to concentrate on improving the quality of health care services and that of education by spending more on policies and programme that are pro-poor via increasing investments in health and education, while the government implements anti-corruption measures to reduce all forms of corruption to the barest minimu
THE PREVALENCE OF OPEN DEFECATION IN THE TOLON DISTRICT IN GHANA
Get PDFPoor sanitation practices are a major health concern for most countries. The prevalence of open defecation is one of the leading factors eroding the gains towards a cleaner environment in most sub-Saharan countries. In Ghana, open defecation is seen to be predominant in rural areas. However, there is limited data on the prevalence of open defecation in these areas. In the absence of sufficient data, one cannot thoroughly assess the successes or failures in the fight against open defecation. Hence, this study aims to determine the prevalence of open defecation in the Tolon District in the Northern part of Ghana. The study employed a quantitative descriptive cross-sectional design, utilizing structured questionnaires to collect data from 132 randomly sampled participants. Data analysis was done descriptively using SPSS software. And results were compared to similar studies elsewhere. The study found that 73.5 % of respondents practised open defecation while 26.% utilised existing facilities such as latrines in their households in the Tolon district. There is a relatively higher prevalence of open defecation in the rural part of Ghana, especially in the Northern part of the country. Also, the majority of people do not have access to toilet facilities in rural Ghana. The lack of access to toilet facilities is a major contributory cause of the high prevalence of open defecation in the rural part of Ghana. The study recommends strong sanitation policies and provision of toilet facilities by the Ghanaian government to address the open defecation prevalence in the Tolon Distric
MEDIATION ROLE OF SOCIAL MEDIA ADOPTION ON THE ORGANIZATIONAL INNOVATIVENESS AND SMEs PERFORMANCE IN NORTH-WESTERN NIGERIA
Get PDFThe study seeks to examine the relationship between organizational innovativeness and SME performance and the mediating effect of social media adoption. Statistical analyses were based on the data collected, through a survey questionnaire from 396 SMEs in North western Nigeria. The Partial Least Square (PLS) method was used to investigate the relationship between the study variables. The study found that the direct impact of organizational innovativeness is not significantly correlated with SME performance, social media is significant in mediating the relationship between organizational innovativeness and the SME's performance and context-specific nature necessitates tailoring strategies based on industry-specific conditions, market characteristics, and technological landscapes. The study concluded that organizational innovativeness exhibited relatively modest effects on SME performance, and social media adoption as a mediator unveiled a statistically significant relationship, highlighting the pivotal role of social media in influencing SME performance within the context of organizational innovation. Finally, the study recommends that SMEs should emphasize the incorporation of social media platforms as integral components of innovation strategies within SMEs, consider holistic approaches that incorporate diverse elements such as social media adoption to enhance the effectiveness of innovation strategies and encourage SMEs to invest in technological adoption beyond traditional innovation practices
IMPACT OF SOCIAL PROTECTION PROGRAMMES ON HOUSEHOLD ACCESS TO HEALTHCARE SERVICES IN NASARAWA STATE
Get PDFThe paper examined the impact of social protection programmes on household access to healthcare services in Nasarawa State. Primary data was used for the study, which was collected with the aid of survey instrument (questionnaire). A sample of 439 treatment group and same number of sample of the control group were considered in the research. The study adopted a quasi-experimental design and Difference-in-Difference regression model was employed for the data analysis. Results of analysis of the three outcome variables were statistically significant for all components of the social protection programmes (Conditional Cash Transfer, Health Insurance, and N-Power), implying that social protection programmes significantly increased household access to healthcare services in Nasarawa State. The study concluded that social protection programmes are veritable instruments of addressing health inequalities and affordability of healthcare services, and if properly harnessed will lead to achieving the Sustainable Development Goal three in Nasarawa State. The paper based on the findings recommended that more awareness is required on social protection programmes operations in the Nasarawa State, and there is need for institutionalization of social protection policy in Nasarawa State for effective service delivery
LIFE EXPECTANCY IN SUB-SAHARAN AFRICAN COUNTRIES: DOES ECONOMIC WELFARE MATTER?
Get PDFTo achieve Sustainable Development Goal 3, improved health outcomes is very vital. However, relatively low life expectancy and high mortality rates characterized most countries in subSaharan Africa (SSA) region. This paper investigated the effect of economic welfare on life expectancy in sub-Saharan Africa for a panel dataset of 44 selected countries spanning between 2000 and 2021. The study decomposed economic welfare into real gross domestic product, carbon dioxide emission and secondary school enrolment rate. Cross-sectional dependence and homogeneity slope tests were conducted, Generalized Method of Moments estimation method was employed in the analysis, further robustness checks were conducted with Average Mean Group. Reduction in carbon dioxide emission and secondary school enrolment rate level significantly increased life expectancy. Real Gross Domestic Product had positive but insignificant effect on life expectancy. The panel granger causality test revealed that real GDP, secondary school enrolment rate and carbon dioxide emission had bidirectional causal relationship with life expectancy. The study recommends that policy reforms towards reducing carbo dioxide emissions, increase in income levels, and adequate investment in education should be adopted for achieving long life expectancy in Sub-Saharan African countries
IMPACT OF CAPITAL MARKET ON ECONOMIC GROWTH IN NIGERIA
Get PDFThis paper evaluates the contribution of capital market development on economic growth in Nigeria. Annual time series data was generated from 1986 to 2022 and Autoregressive Distributed Lag (ARDL) technique was used for data analysis. Capital market development index (CMD) was constructed to proxy capital market development, GDP growth rate proxied economic growth, while interest rate, technological advancement and government expenditure are control variables. The ARDL F-Bound test result revealed that a long-run relationship exists among the variables. The result further indicates that all variables in the long-run have insignificant negative relationship with growth; while in the short run, a positive and significant impact of capital market development (1.1503) and technological advancement (0.0067) was found on economic growth; interest rate was positive but insignificant; on the other hand, exchange rate (-0.0507) and government expenditure (-1.3280) have significant negative impact on economic growth. The study therefore concludes that capital market development has significant positive impact on growth in Nigeria. To further enhance growth, it is recommended that financial authorities should encourage more private sector participation in the market to raise fund. This increases the capacity of the private sector to expand output which in turn generates employment and consequently, enhances growth in the economy