JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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EFFECT OF EXCHANGE RATE AND INFLATION RATE ON AGRICULTURAL SECTOR OUTPUT IN NIGERIA
Get PDFThe study examined the effect of exchange rate and inflation rate on agricultural sector output in Nigeria from 1981 to 2020. In other to achieve the objective of this study, the Autoregressive Distributed Lag (ARDL) approach was used to analyse the effect of the data on agricultural sector output. The findings reveal that exchange rate and inflation rate has negative insignificant effect on agricultural output (AGDP) while commercial bank credit to agriculture has positive insignificant effect on agricultural sector output (AGDP) in the longrun. In addition, the short-run results revealed that the current value of exchange rate and its lag value (-2), inflation rate current value and commercial bank credit’s current value and its lag value (-1) have negative effect on agricultural output in the short-run. Similarly, the short run result also showed that the lag values of exchange rate (-1, -3), the lag values of inflation rate (-1, -2 and -3) has positive relationship with agricultural sector output (AGDP)in the shortrun. Consequently, the study recommends among other things that Government should ensure adequate and effective implementation of policies that would enhance stable exchange rates, as effective and prudent management of exchange rate policies will significantly ensure stability of country’s exchange rate (naira). So also government should put in place policy that will help curb inflation. Policy such as selective credit control can be introduced by the central bank of Nigeria with full implementation. As this will help increase production forcing the price of agricultural goods and services to reduce
NEXUS BETWEEN INFRASTRUCTURE DEVELOPMENT AND MANUFACTURING SECTOR PERFORMANCE IN NIGERIA: THE MODERATING ROLE OF INSTITUTIONAL QUALITY
Get PDFThe role of infrastructure development in the manufacturing growth process is recognized in the literature and policy cycles, therefore, what determines it is also worthy of attention. This study investigates the relationship between infrastructural development and manufacturing sector performance in Nigeria: the moderating role of institutional quality. To accomplish this objective, the study employs an Autoregressive distributed lag (ARDL) from (2002–2021). The results show that institutional quality in Nigeria has a negative impact on manufacturing sector performance both in the short run and long run. The study reveals that productive infrastructure development is positively and significantly improving manufacturing sector performance in Nigeria. In general, institutional quality is introduced to improve the influence of infrastructural development on manufacturing sector performance. Furthermore, the study presents a perspective on the role of government in establishing an enabling environment that promotes infrastructural development. and, as a result, enhances manufacturing sector performance in Nigeria. Based on this finding, the study recommends the implementation of measures and policies aimed at encouraging productive infrastructural development that contributes to manufacturing sector performance in Nigeria. In addition, government and policymakers should improve the quality of institutions such as improving Government Effectiveness, Political Stability, Absence of Violence, Voice and Accountability, Regulatory Quality, Rule of Law, and Control of Corruption. 
FOREIGN DIRECT INVESTMENT AND WELFARE IN NIGERIA: EVIDENCE FROM ARDL MODEL
Get PDFThis study examined the effect of foreign direct investment on wellbeing in Nigeria from 1986 to 2021. Human development index was used to measure welfare while FDI inflows were used to measure foreign direct investment. Exchange rate (EXCH), inflation rate (INF), domestic investment (lnDI), trade openness (TOP), and corona virus (COVID19) were used as the study's control variables. To test for stationarity, a unit root test was performed using Augmented Dickey Fuller (ADF) and Philip Perron. According to the results of the unit root test, the exchange rate and trade openness were stationary at first levels, whereas the human development index, foreign direct investment inflows, the inflation rate, and domestic investment were stationary at levels. In order to examine for a long-term partnership, the ARDL bound test was used. According to the study, there is no significant long-term relationship between welfare and foreign direct investment. The outcome of co-integration and long-term analysis demonstrates that inflation and exchange rates have a negative, significant impact on the human development index. Covid19 and trade openness have insignificant effect on the human development index. Inflows of foreign direct investment and domestic investment have significant positive impact on the human development index. According to the research, Nigeria has to take the battle against corruption seriously. The amount to which foreign direct investment is misappropriated for personal gain would be constrained if corruption were to be reduced
HUMAN CAPITAL DEVELOPMENT IN PUBLIC TERTIARY EDUCATION OF KADUNA STATE
Get PDFHuman capital development denotes the most valuable and critical assets in the public tertiary education and it is globally recognized as a key driver for innovation and sustainable development. However, the study examines the effect of human capital development in public tertiary education of Kaduna state. The population of this study was made up of the all the public Tertiary Institutions in Kaduna State (Ahmadu Bello University Zaria, Kaduna state University, Nuhu Bamalli Polytechnic Zaria, Kaduna Polytechnic, National College of education Zaria and Kaduna state college of education Gidan Waya. Twenty-five questionnaires were administered to each public institution. 150 questionnaires administered and 112 were retrieved from the respondents which was used as the sample size. Therefore, the impact and significance of human capital development in Public Tertiary Education in Kaduna State will no doubt enhance learning as well as development in all area of human endeavor. Based on the findings, it was recommended that the Nigerian government should develop an adequate human capital with global skills and e-learning practices, with proper training partnership with other domestic industries, technical training institutions and research institutions internationally. Also, there is an urgent need for the federal and state government to raise their spending on education in order to fulfill the 26% UNESCO criterion by increasing staff costs and salaries, which will aid in advancing knowledge, increasing production, and fostering national progres
ENTREPRENEURIAL ECOSYSTEM IN NORTH CENTRAL NIGERIA: A STRATEGY FOR SUSTAINABLE DEVELOPMENT
Get PDFThe concept of sustainable development via entrepreneurship ecosystem is an approach to understand every unit of an entrepreneurial ecosystem and its individual contributions to entrepreneurial sustainability within a particular territory. It is an approach that affects all spheres of life; social, economic and environment, connecting them within entrepreneurial processing to a sustainable societal development. Using content analysis and drawing out causal mechanisms with systematic evaluation, This study reveals the various dimensions of entrepreneurship ecosystem in the North Central Nigeria, breaking down its elements into systems as drawn from the existing entrepreneurship literature, and critically linking them to entrepreneurship, sustainable development, industrial and technological backwardness in North Central region. The study therefore revealed that every unit of entrepreneurial ecosystem should be viewed on a process-based criteria so as to have a better framework of understand the role of entrepreneurial ecosystem on entrepreneurship in its micro form, in order to effectively support entrepreneurship venture creation, growth process and the transformation. The study recommends a point clarification on entrepreneurial ecosystem structures and their abilities on entrepreneurship in the region, as this could capitalize on the opportunities available to systematically and objectively tackle the threats on entrepreneurship in North Central Region of Nigeri
IMPACT OF INSURGENCY ON INCOME OF SCAVENGERS OF SOLID WASTE IN MAIDUGURI, BORNO STATE –NIGERIA
Get PDFThe study assessed the impact of insurgency on income of scavengers of solid waste in Maiduguri, Borno State. The population of the study comprised the residents within Maiduguri, Borno state Nigeria out of which 385 persons were sampled, purposively. Three hundred and eighty-five (385) copies of questionnaire were administered and all were retrieved, making 100% return rate. The study employed inferential statistics (Logistic regression) and descriptive statistics (frequency and percentage) for data analysis. Results were presented in tables and discussed according to the research objectives. The findings reveal a significant decrease in the income of the scavengers after insurgency in the study area; thus, insurgency has negative impact on the income of scavenger of solid waste in Maiduguri. The study recommends that Federal Government should intensify the fight against Boko Haram insurgency. This will restore normalcy and help many businesses recover in Borno state
COVID – 19 AND STOCK MARKET VOLATILITY IN NIGERIA
Get PDFAfter the discovery of corona virus, in Wuhan city of Hubei Province in central China in the late part of December, 2019, the disease spread like wildfire across almost all the continent of the world within a short period of time. Global financial markets and particularly the stock markets have experienced deep dive in the value and abnormal volatility. The objective of this research is to assess the impact of Covid-19 on the Nigerian Stock Market Volatility using daily time series data ranging from January, 2020 to December, 2022. The data used in this study are Secondary data that were sourced from the Nigerian Stock Exchange (NSE) website and the Central Bank of Nigeria (CBN) Website, the Nigeria Center for Disease Control (NCDC). Unit Root Test: The unit root test was conducted to check the stationarity of a data series. the Augmented Dickey Fuller (ADF) (1979) and Phillips-Perron (PP) (1988) tests were conducted for this purpose. ARCHLM Test was also conducted to find presence of ARCH effects in the model to be estimated. The Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH) was applied. The result shows that the impact of covid19 on stock market volatility is positive and statistically significant. The study recommends that covid-19 vaccine should be given to people in order to stop the spread of the disease
EMPIRICAL INVESTIGATION OF MONEY SUPPLY, INFLATION AND ECONOMIC GROWTH NEXUS IN NIGERIA
Get PDFThe main goal of monetary policy is to guarantee that the money supply is at a dimension that is steady with the development focus of real income, to such an extent, that non-inflationary development is certain and price stability, guaranteed. Since the discovery of the COVID-19 Pandemic, the money supply has risen consistently, averaging 9.16% between 2020Q1 and 2022Q2. Inflation, on the other hand, has risen by 15.70% while growth averaged a meagre 1.24%. As a result, this study aims to analyse the relationship among select macroeconomic variables. The Toda Yamamoto Vector Autoregressive and Granger Causality approaches are adopted for this study and cover the period 2006Q1 to 2022Q2. There is evidence of joint causality to money supply growth and lending rate. Impulse response functions reveal that increasing growth in money supply causes a marginal rise in inflation while having no contemporaneous effect on real GDP growth. However, over the forecast horizon, increasing levels of money supply growth cause a persistent decline in real GDP growth, insinuating that the levels of growth in the Nigerian economy are motivated by other factors. The Central Bank is encouraged to manage the level of money supply effectively to sustain real GDP growth.
 
DOES INCOME INEQUALITY MATTER IN THE CONTRIBUTION OF HEALTH CAPITAL TO ECONOMIC GROWTH? EVIDENCE FROM SUB-SAHARAN AFRICAN COUNTRIES
Get PDFInvestment in healthcare is of paramount importance as it builds up the stock of health capital, which is primordial to economic growth. However, a high level of income inequality can impair an economy's human capital insofar as low-income people do not have sufficient access to health facilities or health care (Ray and Linden, 2018). This study attempts to unveil the contribution of health capital to economic growth in a situation of rising income disparity in sub-Saharan African countries. The study employs a dynamic model of the Generalized Method of Moments in 38 countries using annual data from 1998 to 2018. Empirical results show that rising income inequality reduces the positive effect of health capital on economic growth. This study suggests that health care financing should be a government priority while ensuring that effective redistributive measures are put in place to reduce income inequality.
Key words: health, human capital, income inequality, economic growth, SGMM
JEL Classification: I150, C11, C2