JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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INVESTMENT-SAVINGS GAP AND PUBLIC DEBT SUSTAINABILITY IN NIGERIA
Get PDFThis study evaluates the transmission mechanism from investment-savings gap to public debt sustainability through revenue channel in Nigeria using annual data from 1970 to 2021. The theoretical foundation of the paper is rooted in the two gap model. The procedure involves impulse response functions and variance decomposition analyses which have been used to summarise/interpret the Structural Vector Autoregressive model used for estimation. Empirical evidence suggests that negative shocks to investment-savings gap will cause an increase in revenue which will in turn impact public debt sustainability negatively. The researchers conclude that the positive effect of investment-savings gap on revenue is not communicated to public debt sustainability. The recommendations include blocking of revenue leakages through elimination of corruption. Secondly, implementation of an appropriate mix of tax and income policies should be pursued to generate more savings for investment and hence more revenue to address the debt problem
LOCAL GOVERNEMENT ADVANCES AND POVERTY ALLEVIATION IN KEBBI STATE
Get PDFLocal government advances is about the revenue and expenditure decisions of local governments. This paper addresses issues around advances at the local level and the issue of poverty alleviation. These issues were examined within the context of the social norms which has already had a significant impact on local government finances. Against this background, the paper employs the cross sectional survey method to effectively analyse the issues around local government finance as well as a range of analytical approaches for the economic and financial analysis of investment projects implemented by local governments under conditions of uncertainty. Data were obtained directly from a local community in Birnin Kebbi and evaluated for relevance to the research questions, resulting in a final sample of n=170 responses. The study concluded that the key principals and elements of local government finance that aid in poverty alleviation includes fiscal decentralisation, revenue management, and capital investment planning. Base on the forgoing, the study recommended that local government in a bid to alleviate poverty must apply economic and financial analysis to investment projects relevant to local governments and incorporate uncertainty and probability in decision analysis 
SOCIOECONOMIC EFFECTS OF TERRORISM AND INSECURITY IN NORTHERN NIGERIA
Get PDFThe most highlighted challenges confronting the growth of democracy in Nigeria at the moment are terrorism and insecurity.Terrorism in Northern Nigeria had forced the closure of schools and health facilities in many affected areas, constant killing of soldiers, policemen, aid workers, civilians and in addition to massive refugee problems. These had affected structures of political and economic development of the society. The intensity of terrorist activities and the anxieties it had unleashed on the population have resulted to moral panic. Since the advent of Boko Haram in the Northeast Nigeria in the past decade and followed by the Herdsmen violence across the country, Nigeria is facing the most daunting security challenges in its history. The nature of ethnoreligious divides in Nigeria creates problems in the fight to combat terrorism in the country. The paper looked at how terrorism had affected political stability, educational development, tourism, food crises, national cohesion and economy is general. The paper concluded that ethno-religious sentiments are the root cause of terrorism and constitute major obstacles in the control of terrorism, achieving of national security and the attainment of stable democracy in Nigeria
ANALYSIS OF THE DETERMINANTS OF CAPITAL FLIGHT IN NIGERIA
Get PDFThe objective of this research is to analyze the determinants of capital flight in Nigeria within the context of the Autoregressive Distributed Lag (ARDL) estimation technique. The study utilizes annual data for the period from 1981 to 2018. The bound test result confirms the existence of cointegration, furthermore, the study reveals that GDP growth rate, financial development, external debt, inflation and natural resources endowment are statistically significant and determinants of capital flight in Nigeria both in the long and short run. The study therefore, recommends the need for government to provide a stable financial and macroeconomic environment, address the decay in the critical infrastructure and also ensure that all external loans are invested into productive projects that give higher returns on investment
COMPARATIVE ADVANTAGE-DEFYING STRATEGY: AN ELUSIVE QUEST FOR INCLUSIVE GROWTH IN LAGGING ECONOMIES
Get PDFDespite the “improved” political institutions of governance in the wake of enthronement of democracies, the resource-endowed developing countries still remain largely the most lagging economies in the world. It is with such quest to break the mold of laggedly daunting development challenges of pervasive poverty, huge inequalities and joblessness that this paper examined the structural linkage between institutional quality, the preferred development strategy and broad-based productive employment growth in Nigeria during the period 1998-2017, employing Auto-regressive Distributed Lag (ARDL) bounds testing to cointegration technique. The results of the study revealed that institutional quality had an overall significant impact on the real GDP per person employed. However, contrary to its a-priori expectation, the technology choice index was positively signed, indicative of the country’s adoption of an inappropriate development strategy. Meanwhile, all other explanatory variables were found to exert a positive statistically significant impact on inclusive growth in Nigeria both in the short-run and the long-run. The findings of the analysis showed that the state institution remains the major reference point in the conceptualization of a dynamic inclusive growth. Given her relatively labour-abundant resource endowment, building certain degrees of institutional capacity and character is much needed to harness the conversion of the nation’s socio-economic potentialities into realities of sustainable broad-based productive employment growth. Therefore, a comparative advantage-conforming development strategy should become the policy priority of the Nigerian government. This would lift millions out of poverty and bridge the long standing huge inequality gaps amongst the citizens
MICROFINANCE PERFORMANCE IN A CHALLENGING ECONOMY: EVIDENCE FROM NIGERIA
Get PDFFollowing the challenges posed by increasing wave of global coronavirus pandemic, this study examines Microfinance performance in a challenging economy using monthly time series data from January, 2019 to June, 2021. The study employs the ARDL technique of analysis focusing on the indices of profitability, deposits, credits, interest rates and inflation using monthly data from statistical reports of Microfinance banks/institutions and Returns to Central bank of Nigeria and the Nigeria Deposit Insurance Corporation. The findings reveal that the profitability and economic conditions of microfinance banks/institutions degenerated during the period under study. The results also show that loan portfolio significantly increased during the period due to nonperforming status. Expansion degenerates and this affects the profit rate. The work recommends that the government through the Central Bank should provide adequate bail out or financial support to cushion the effect of the challenging environment on the loss of income to the institutions
THE IMPACT OF PUBLIC HEALTH EXPENDITURE ON HEALTH INDICATORS IN NIGERIA
Get PDFThis study investigates the relationship between public health expenditure and health indicators in Nigeria. The study utilized the Error Correction Mechanism (ECM) framework to capture the plausible short-run effects of public health expenditure on health indicators (proxy by life expectancy and under-5 mortality rate) in Nigeria from 1985 to 2019. The results revealed a long-run relationship between health indicators, health expenditure, gross domestic product (GDP) per capita, carbon dioxide emission, literacy level, and urban population. The results also indicate that GDP per capita and literacy level positively affect health indicators while urban population and carbon dioxide emissions impacted negatively on health indicators. Furthermore, the results revealed that the various speeds to adjustment are significant and low. The study concludes that expenditure on healthcare is vital for improving the quality of life in Nigeria and recommends that the government should increase health expenditure, control over-crowding in urban centers, reduce inequality, and promote the use of green energy
ECONOMIC SIZE, UNCERTAINTY, AND INCOME INEQUALITY IN NIGERIA
Get PDFThis paper investigates the effect of economic size and uncertainty on income inequality in Nigeria from 1980 to 2020. Using the ARDL methodology, and controlling for structural breaks, we investigate how economic size and uncertainty influence income inequality in Nigeria while controlling for the effects of government expenditure, oil rent, birth rate, and primary school enrollment rates. Results from the analysis shows that the short-run effects of economic size and uncertainty on income inequality is positive and insignificant. The effect in the long-run remains positive and insignificant for economic size, but negative and significant for uncertainty. The effects of other variables like government expenditure and birth rate are negative and statistically significant. The government of Nigeria need to treat the reduction of income inequality as a long-run phenomenon, but endeavour to reduce uncertainties in the short run which exacerbates income inequality
WORK ETHICS AND SUSTAINABLE SERVICE DELIVERY IN NIGERIA PUBLIC SERVICE
Get PDFThe Nigerian public service is an important national institution. It provides support to constituted government, and also provides the enabling environment that can help public servants contribute to good economic development through effective service delivery. Unfortunately, the unbecoming behaviour of public servants hurts service delivery in Nigeria. It is a matter of grave concern that public service in Nigeria is facing ethical crisis, which manifests in the pervasive absence of accountability, institutionalization of corrupt practices and new forms of cutting corners or what some writers have described as briberisation. Against this backdrop, the study examined work ethics and how it affects quality service delivery in the Nigeria public service. The study adopted consequential list theory as its theoretical framework of analysis. Data for the study were drawn from participant observation and authentic secondary sources. The study identified that unethical behaviour in the Nigeria public service is high and unacceptable and has negatively affected quality service delivery and sustenance of services to the public. The study recommended among others, the imposition of severe punishments on public servants that breach the Code of Conduct in Public Service. The study concluded that public officials in Nigeria should improve on their ethical practices, to enable them achieve their goals of providing sufficient and effective service to the public
