JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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IMPACT OF CLIMATE CHANGE ON NIGERIAN AGRICULTURAL SECTOR CROP PRODUCTION
Get PDFThis study examined the impact climate change have on Nigerian agricultural sector crop production within the period of 1990 to 2020. This study employed the Non-linear Autoregressive Distributed Lag (NARDL) Model. NARDL is appropriateness because the unit root test results revealed a mixed order of I(0) and I(1) and Wald test which established the existence of non-linearity. This study established the existence of long-run relationship and also found that in the short run, lag of increase in rainfall index has a positive and statistically significant impact on crop output. the past value of decrease in rainfall has a positive and statistically significant impact on crop output. Decrease in temperature has a positive impact on crop production at both the current and lagged value but only the lag is statistically significant. In the long-run both increase and decrease in rainfall as well as increase in temperature indices have negative impact on crop production why reduction in temperature is beneficial to crop production. This study, this study recommends the provision of irrigation facilities such as dam, pumping machines, hose, wells and boreholes to farmers as this will help ameliorate shortages of water caused by climate change
MULTIPLE TAXATION, HIGH TAX RATE AND TAX COMPLIANCE: IMPLICATIONS FOR SMES’ GROWTH IN ZAMFARA STATE, NIGERIA
Get PDFThe study examines if multiple taxation and high tax rate have significant influence on tax compliance among SMEs in Zamfara State. The study focused on Gusau, the state capital of Zamfara, with an estimated population of 682,700. Method of Sampling the Population is the Taro Yamane's sampling formula. The sample size of the study is 400 people who are small and medium business owners in Zamfara state, Nigeria. The study made use of multiple regression analysis, Anova, Coefficient, Collinearity Test in other to find the impact of high tax rate and multiple taxation among SMEs in Zamfara state. The study revealed that multiple tax system has significant influence on tax compliance. The study also revealed that high tax rate has negative significant influence on tax compliance among tax payers who are small business owners. The study therefore recommends that government should avoid high tax rate as this could have negative effect on tax compliance among SMEs in Zamfara State
EXAMINING HOW DECENTRALISATION AND LOCAL GOVERNANCE IMPROVE SERVICE DELIVERY IN THE GAMBIA
Get PDFThe paper examines how decentralisation and local governance improve service delivery to the public in The Gambia. The study used “cross-sectional descriptive survey design”, through the administration of structured questionnaire of five-point Likert scale among the selected local government councils. Random sampling technique was adopted to calculate the sample size for the study. The study randomly selected five (5) institutions which included Kanifing Municipal Council, Brikama Area Council, Kerewan Area Council, Mansakonko Area Council, and the Ministry of Lands and Regional Government. Consequently, the sample size for the study was 325 from the study population of 2099 which included both administrative staff and service beneficiaries of the sampled local government councils and their line ministry in The Gambia. A total of 300 copies of questionnaire were retrieved from the field which represents a response rate of 92 percent. Primary data were collected through questionnaire administration and conduct of interviews. The questionnaire used semi-structured questions which were both open- and close-ended. The data were analysed using Stata version 13. Secondary data were obtained from published and unpublished policy documents, records, journals, relevant text books and the Internet to augment the study. The results of the study showed that decentralisation and local governance contributed immensely to improving service delivery. The study concluded that decentralisation as a strategy contributed a lot in improving local community participation in economic and political activities and empowered them to take ownership of their own community resources
THE EFFECTS OF MOBILE BROADBAND ON ECONOMIC GROWTH IN NIGERIA
Get PDFThis paper analyzes the effects of mobile broadband on economic growth between 2010 and 2020 in Nigeria. The paper set out two objectives to analyze the effects of mobile broadband on (1). Economic growth and on (2) employment in Nigeria. The rising mobile broadband penetration rates in the face of declining growth and the growing unemployment rates call for an investigation into its impact on the Nigerian economy. The review of the literature suggested that the impact of mobile broadband in the economy is positive while its effects on employment are both positive and negative. The paper employed structural equations and GMM techniques for the analysis. The findings of this paper revealed that mobile broadband influences economic growth and employment in Nigeria. But the results depended upon instrumental variables such as population growth, broadband speed, capital stock, financial deepening and prices of crude oil in the international market. Mobile broadband subscriptions showed the evidence of reducing unemployment and other labour market outcomes in Nigeria. The quality and speed of mobile broadband was instrumental to enhancing economic growth and employment in Nigeria. The paper concluded that the potentials of mobile broadband are yet to be fully utilized in the country. The paper recommends that the government should invest in unserved areas, deepens the financial system, and reduce the regulation of the social media platforms because they help reduce unemployment and improving mobile broadband penetration in Nigeria
THE CAPITAL MARKET AND ECONOMIC GROWTH IN NIGERIA
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 study assessed the impact of the capital market on economic growth in Nigeria spanning the period of 1986-2021. The study used the Autoregressive Distributed Lag (ARDL) model to carry out its empirical analysis. The study’s empirical findings showed that Nigeria’s capital market positively and significantly contributed to the growth of the Nigerian economy. It found that market capitalization which is the widely used indicator in assessing the size of a capital market had a significant positive impact economic growth both in the short and the long-run run. Consequently, to improve the performance of the capital market, the study recommends that the Securities and Exchange Commission should increase the level of coordination among the capital market regulators so as to ensure efficiency in its operations, raise small investors' understanding of risk and financial literacy, make sure that long-term term credit is accessible, and, ensure that only legitimate businesses are gaining access to the capital market, among others. 
ANALYSIS OF THE RELATIONSHIP BETWEEN REMITTANCES AND MONETARY POLICY ON ECONOMIC GROWTH IN NIGERIA
Get PDFRemittances has become a significant source of foreign currency to the people or a nation at large especially in Africa and developing countries. The paper examines the shocks effect of Remittances and monetary policy on Economic Growth in Nigeria using quartly data from 2010Q1 to 2021Q4. The study employed Structural Vector Autoregressive (SVAR) model. The Zivot and Andrew unit root test indicates that variables such as gross domestic product, remittances, and monetary policy rate are integrated of order one while real exchange rate and money supply are integrated of order zero. The results from the impulse response functions revealed that, the shock effect of real exchange rate to gross domestic product shock is negative, money supply transmit positive effect on gross domestic product in Nigeria, monetary policy rate transmit positive shock to gross domestic product in Nigeria, remittances transmit negative shocks to gross domestic product in Nigeria. The Granger causality test shows bi-directional causality of real exchange rate, money supply, monetary policy rate and remittances on gross domestic product in Nigeria. Furthermore, the study shows that monetary policy has a positive effect on economic growth in Nigeria while a remittance has a negative effect on economic growth in Nigeria. The paper recommends that monetary authority (Monetary Policy Committee) should increase monetary policy rate to manageable rate as higher monetary policy rate increases gross domestic product in Nigeria. Government should bring many ways to increase remittances an inflow to the country due to its significance in influencing economic growth. 
EFFECTS OF POPULATION GROWTH AND URBANIZATION ON ECONOMIC GROWTH IN NIGERIA
Get PDFThe uncontrollable population growth and urbanization rates in Nigeria is empirically contrary to the Malthus population and Haris-Todaro propositions. Thus, this motivated this study on the effects of population growth, urbanization, and economic growth in Nigeria. Secondary annual datasets from 1980 to 2019 were sourced from the World Development Indicators (WDI), the National Bureau of Statistics (NBS) and the Central Bank of Nigeria Statistical Bulletin (CBN). To achieve the specific objectives, the OLS estimation techniques employed are Autoregressive Distributed Lag (ARDL), Fully Modified OLS (FMOLS), and granger causality to test the causal direction of the model variables. While the ARDL estimates the short-run and long-run impact, the FMOLS estimates the long-run effects of population growth and urbanization on economic growth. Lastly, the granger causality test helps to identify the policy directions in this study. Findings revealed that population growth has a positive and significant effect on economic growth in both the short-run and long-run, while urbanization has a negative and insignificant effect on economic growth in the short-run and the long-run over the study periods. Therefore, the study recommended that government policy should be directed to improve the active population growth to spur economic growth through a quality education system. Also, Urbanization Policy should be guided to maximize the benefits rather than the current challenges posed like increasing Urban Unemployment
FINANCIAL DEVELOPMENT, PUBLIC HEALTH EXPENDITURE AND HEALTH OUTCOMES: EVIDENCE FROM NIGERIA
Get PDFThis study examined the link among financial development, public health expenditure and health outcomes in Nigeria between 1981 and 2020. Annual time series data was extracted from the Central Bank of Nigeria (CBN) statistical bulletin and the World Development Index (WDI), and the data was analysed using the Autoregressive Distributed Lag Model (ARDL) with Bounds Testing. The result showed that government expenditure on health worsens health outcome (life expectancy) in the short run while it improves life expectancy in the long run. Also, the result showed that the effect of financial development on health outcome is sensitive to the financial development indicator employed while inflation negatively and significantly influenced health outcomes in Nigeria. The study recommends increased spending on the health sector by the government and a stable financial sector, in order to significantly drive the desired level of health outcome in Nigeria
GOVERNMENT FINAL CONSUMPTION AND HOUSEHOLDS AND HOUSEHOLDS FINAL CONSUMPTION EXPENDITURE IN NIGERIA
Get PDFThis study seeks to investigate the effect of Government Final Consumption Expenditure; Financial Deepening on Households, Non-profit institutions serving households (NPISHs) Final consumption expenditure using data on Nigeria spanned 1981 to 2019. This study employed Vector Error Correction Model. The results of the study revealed that the coefficient Government final consumption expenditure has a positive effect on household consumption expenditure in the long run. There is a long run and short run relationship between gross fixed capital formation and household consumption expenditure. The coefficients credit to private secto (cpsgdp) which are financial deepening indicators and gross fixed capital formation posits a negative impact on household final consumption expenditure. The coefficients money supply (lm2gdp) which is another proxy for financial deepening and the coefficient FDI have a positive effect on household final consumption expenditure in the long run. Therefore this study recommends that Gross fixed capital formation stimulates household consumption expenditure, a legal framework to support investment is a panacea to increasing household income, consumption and reduce poverty in Nigeria. Therefore, this should be a key central component for policy. The implication for policy is that government final consumption expenditure stimulates household consumption expenditure positively thus cannot be underscored hence a realistic policy driven towards increasing government final consumption expenditure is strategic to increasing effective and consumption as wel
IMPACT OF SELECTED MACROECONOMIC DRIVERS ON THE BEHAVIOUR OF THE NIGERIAN STOCK MARKET
Get PDFThe behaviour of macroeconomic variables exerts impact on the operations and happenings in the stock market and by extension the economy in general. This study investigated the impact of some macroeconomic variables (real gross domestic product, foreign direct investment, aggregate government expenditure, and real exchange rate) as drivers and catalyst to the performance of the Nigeria stock market, utilizing the time series data from 1986 – 2020. Stationarity test was conducted to determine the order of integration, Johansen cointegration test for long run relationship among the variables. The ARDL-ECM model was specified and estimated to determine the short and long run impacts of the independent variable on the dependent variable. ECM component of the model shows the speed of adjustment from short run disequilibrium to long run equilibrium. Findings reveal the positive impacts of the selected macroeconomic drivers on the performance of the stock market proxied by All share index (ASI) in both short and long run. The study thus recommends deliberate undertaking of policies that will encourage inflows of FDI as well as increase aggregate spending for sustained positive impact on the stock market