JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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IMPACT OF GREEN ADVERTISING ON GREEN PURCHASE INTENTION OF SMARTPHONE USERS IN SOKOTO, NIGERIA
Get PDFThe advancement in environmental concern had influenced customer attitude, behavior, and lifestyle in purchasing telecommunication products and services. There is significant shift from utilizing telecommunication products to greener environment. These had pressured many Smartphone manufacturers to consider on refining the users repurchase intention strategy to focus more on green advertising to achieve customer retention. The impact of green advertising on the green purchase intention has been widely studied by previous literature in the organizational contexts. However, the empirical research from the customer perspective is rather limited. Therefore, this study proposed to fill in the green purchase intention literature gap by focusing on the relationship between green advertising and green purchase intention from the customer perspective using Usmanu Danfodio University Smartphone users. The study used descriptive survey research design consists of 24, 087 students of Usmanu Danfodio University Sokoto (UDUS), using Smartphone with a sample size of 379, out of the total population of UDUS students. Using PLS-SEM the study test the hypotheses formulated and the findings revealed that Product Knowledge has a higher influence on Green Purchase Intention with (β = 0.590), while Green Advertising has (β = 0.011) has the second influence to the Green Purchase Intention.
While the moderation is positive and insignificant (β = 0.011). The study recommends that Smartphone marketers should be aware that student Smartphone consumers will make choices based on eco-labeling in the Smartphone, so obtaining appropriate eco-labels is a necessary to improve the business strategy for environmental enterprises
EXTERNAL FINANCIAL FLOWS AND ALL SHARE INDEX IN THE NIGERIAN CAPITAL MARKET: VECM FRAMEWORK
Get PDFIn many economies, the capital markets play a vital role as one of the most powerful drivers of economic growth and wealth creation. This research work aims to assess the dynamic effects of external financial flows on the All-Share Index of Nigerian capital market over the period 1981-2020. The study employed the VECM and regressors’ and ECT t-statistics causality approaches to establish the short, long and strong relationship. The study found that FPI, remittance from personal transfers, remittance from compensation of employees, TOP and ODA have positive impacts on ASI in the long run except for the FDI. The findings on ECT t-statistics causality relationship were mixed-revealing, the result shows that some variables were statistically significant in the short-run and also in the long-run, these joint statistically significance between the variables in the short-run and long-run implies strong causal relationship among the variables. This implies that external financial flows tend to generate unpredictable and a typical influences on long-term capital market development in Nigeria, although it gives little room for short-run development of the market. The study suggested that the policy measures aimed at directing long run capital inflows should not be the same as those aimed at changing the short run patterns of flow. Thus, policy makers must develop policy directions to suit the time horizon of capital flows in enhancing market value, price stability and liquidity
OIL REVENUE AND POVERTY IN NIGERIA: THE SOUTH-SOUTH PERSPECTIVE IN POST COVID-19 ERA
Get PDFOil revenue has remained the live wire of Nigeria’s economy given that it contributes over 80 per cent to the nation’s foreign exchange earnings and more than 50 per cent to her gross domestic product. Thus, Nigeria rely heavily on oil revenue in funding her annual budget. The oil is naturally located within the South-South region of the country, by implication, the region contributes significantly to Nigeria’s revenue, yet, it is characterized by high rate of poverty. Using a descriptive approach and data obtained from the World Bank and National Bureau of Statistics among others, the study revealed an independent relationship between oil revenue and the rate of poverty in the region. This is because, the region still had high poverty rate even in the years of oil boom, hence, COVID-19 pandemic which led to drastic fall in oil revenue thereafter cannot be held responsible for growing poverty rate in the region. Consequently, the study suggests that since in both times of high and low revenue generation from oil including the present post COVID-19 era, the south-south region has remained in poverty, there is need for stakeholders to refocus on other resources beside oil. In other words, they should concentrate on human capital development as well as technological innovations. This will improve the competitiveness of businesses in the region, attract investors, create employment opportunities and reduce the rate of poverty, hence improve standard of living in the southsouth region
IMPACT OF GOVERNMENT CAPITAL EXPENDITURE ON THE ECONOMIC GROWTH RATE OF NIGERIA
Get PDFPublic expenditure strives to provide amenities for the general public as well as distribute resources among its citizens. Government spending can be divided into three main categories: consumption, transfers, and interest payments. Capital and recurrent expenditure make up the majority of government spending in Nigeria. These are further divided into administration, social and community services, economic services, and transfers. Recurrent spending, in contrast to capital spending, does not result in the creation of assets for the future or the reduction of any government liabilities. Recurrent expenses include payments for pensions, interest on prior debt, subsidies, and employee salaries. This study attempts to scientifically examine the effects of government capital expenditure in its disaggregated form (administration, social and community service, economic services, transfers, and government deficit) on Nigeria's economic growth rate from 1981 to 2021 in addition to evaluating how well government expenditure performed in the years following the pandemic in 2021. Secondary data sourced from the CBN statistical bulletin, 2021, were used in the analysis. Because the variables have a mixed order of integration, the study used the autoregressive distributed lag model. The bounds test showed a longrun association between the studied variables. The error correction model showed a strong and positive association between administrative and economic services and the rate of economic growth in Nigeria
AN ANALYSIS OF THE EFFECT OF EXCHANGE RATE DEPRECIATION ON BALANCE OF PAYMENT IN NIGERIA
Get PDFThis paper analyses the effect of exchange rate depreciation on balance of payment in the Nigeria spinning the period 1981-2021. Autoregressive Distributed Lag Model of data analyses is used after conducting unit root test. ARDL bound result indicates a long term association among the macroeconomic models. Empirical evidence reveals that exchange rate depreciation had a positive and significant effect on balance of payment both in the long and short run. Moreover, the results revealed that depreciation of exchange rate improves balance of payment and that Marshall-Lerner (ML) condition subsists for Nigeria. The paper advocates that the Nigerian government should adopt import substitution strategy in order to discourage importation so as to promote local production as well as balance of payment, Nigerian government should also encourage growth of local industries that will satisfy the domestic demand and also compete in a global market, increase investment in agriculture and manufacturing sector as well as promote entrepreneurial skills so as to correct the deficit in the balance of payment account
THE INTEREST RATE CHANNEL OF MONETARY POLICY TRANSMISSION MECHANISM IN NIGERIA: A REGIME-BASED ANALYSIS
Get PDFThis study re-examines the interest rate channel of monetary policy transmission in Nigeria, against the backdrop of the changing macroeconomic conditions in the economy, which has seen inflation rise above the CBN single-digit threshold over the last five years, as well as GDP that has slipped into the negative territory for seven times since 2016Q1 till date. The study adopted the non-ARDL technique, an asymmetric method of ascertaining the passthrough of interest rate in two different regimes of positive and negative output growth. Findings from the estimates of both a linear and non-linear autoregressive model suggests that in the regime of positive output growth, the interest rate passthrough for Nigeria is negative and statistically insignificant, also, in the regime of negative output growth, the interest rate passthrough for Nigeria is equally negative and insignificant. However, the passthrough of interest rate during the regime of positive output growth appears to be higher and faster, compared with the regime of negative output growth, as during the regime of positive output growth which is synonymous to boom cycle in the business environment, banks are poised to lend to the private sector, due to increased productivity and investment in this regime. The study recommends that policy initiatives be directed at reducing the cost of operation of banks in Nigeria, as well as, bridging the gap between the policy rate and the real rate of lending, which would enhance and boost investment and output growth in the economy. 
CORPORATE GOVERNANCE PRACTICE AND COMPLIANCE LEVEL AMONG LISTED MANUFACTURING FIRMS IN NIGERIA
Get PDFThis paper investigated the level of corporate governance compliance among listed manufacturing firms in Nigeria. The study adopted descriptive survey research design and used secondary data. The population of the study comprised of 78 listed manufacturing firms on the Nigeria Stock Exchange at the end of 2018. Through purposive sampling techniques, relevant data were obtained from 56 firms whose stocks were traded consistently on the stock market. Corporate governance practices and compliance were obtained from the firms’ annual reports, the publication of the Nigeria Stock Exchange (NSE) as well as the website of the firms. The data were analysed using tables, percentages, and charts. Findings clearly indicated that listed manufacturing firms had embedded corporate governance initiatives with a compliance rate of 73.66% on average with the highest and lowest compliance rate of 82% and 60% respectively. The study therefore recommends the need for management to create a conducive business environment by ensuring good corporate governance structure to increase investors’ confidence, facilitate additional foreign direct investment (FDI) and the development of the capital market operation in Nigeri
MACROECONOMIC IMPACT OF REMITTANCES: EVIDENCE FROM NIGERIA
Get PDFThis study investigated the impact of remittances by Nigerians in the diaspora on economic growth for four decades (1980-2020) using the Error correction model developed by Engel and Granger. The impact of remittances on economic growth in developing countries in the literature has is mixed. This research is focused on the impact of per capita remittances as a source of per capita GDP growth relative to other sources of investment in the economy such as investments in human and physical capital within the production framework. We found that remittances and investment in physical capital had positive and significant impacts on the gross domestic product in Nigeria while investment in human capital development and institutional factor both have negative and significant effects on growth. With deliberate policies put in place to strengthen this outcome, the impact could even be greater in the future. Based on the result, the study recommends introduction of more financial innovation tools and inclusion in the use of such tools to reach remote areas. This will increase the volume of remittances, widen the use of the formal financial system in its use and thus its contribution to economic growt
FISCAL POLICY AND SECTORAL OUTPUT GROWTH IN NIGERIA: A NEW EMPIRICAL EVIDENCE
Get PDFFiscal policy actions can be used to stimulate sectoral growth, either by increasing or decreasing government spending or tax. Thus, this study examined the effect of fiscal policy on sectoral output in Nigeria based on annual time series data from 1981 to 2021. An endogenous model, fashioned in line with the standard production function formed the basis of the model specification for the variables of interest. An ARDL model was adopted in order to capture both the short-run and long-run dynamics of the model. The ARDL Bounds Test method of establishing cointegration provided evidence that there is cointegration when Mining (MIN), Manufacturing (MAN), Building and Construction (BCN) and Wholesale retail (WRT) are used as dependent variables. However, when Agricultural output (AGR) and Service (SER) are used as the dependent variable, there is no cointegration. The ARDL long run results revealed that fiscal policy, as measured by total government expenditure has a significant negative effect on the overall output. With regards to sectoral output, fiscal policy variable had a significant long-run negative impact on Agricultural output, Building and Construction, Mining and Services while it has a positive impact on manufacturing and Wholesale and Retail output. In the short run, fiscal policy has a significant positive impact on agricultural output, manufacturing and mining sectors while the impact is negligible on Building and Construction, Wholesale and retail and service output. As a policy prescription, a sector specific fiscal spending must be put in place to drive sectoral output growth in Nigeria
ANALYSIS OF THE IMPACT OF INSECURITY, EXCHANGE RATE AND ENERGY PRICES ON INFLATION IN NIGERIA
Get PDFThe study investigates the impact of insecurity, exchange rate, and energy prices on inflation rate in Nigeria. To document this study, time series data were used from 1985 to 2022. Major variables used include insecurity, which was proxied by security expenditure, exchange rate, premium motor spirit prices, crude oil prices, and inflation. Descriptive and inferential statistics was employed specifically the autoregressive distributive lag (ARDL) model. Findings revealed that LCRPR, LPMS and LINSEC are stationary at first difference whereas LINFL and LEXCH achieved stationarity at levels and a long run relationship exists among the series. However, in the short run, insecurity and premium motor spirit have a positive relationship to inflation whereas exchange rate is on the contrary. Also, crude oil prices and premium motor spirit possesses an inverse relationship while exchange rate and insecurity are on the contrary in the long run. The study further reveals that insecurity, exchange rate and premium motor spirit has a unidirectional relationship to inflation. Consequently, the study concluded that all the variables insecurity, exchange rate, crude oil prices and premium motor spirit have significant impact with varying magnitude on inflation under the period considered. Therefore, the study suggested that government should aggressively diversify her economy towards the non-oil sector with emphasis on the critical sectors and also a Marshallian action plan need to be instituted by all stakeholders within the value chain on how to bring the insecurity condition to its knees as this will revive and spur economic activities