JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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EFFECT OF CORPORATE GOVERNANCE ON FINANCIAL INFORMATION OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Full text linkThis study investigates the effect of corporate governance attributes on financial information disclosure among listed Deposit Money Banks (DMBs) in Nigeria over a ten-year period (2014–2023). Adopting an ex post facto research design and utilizing secondary data from audited annual reports, the study employs a fixed effects panel regression model with robust standard errors to account for firm-level heterogeneity and endogeneity. Key governance variables examined include board financial expertise, board independence, board gender diversity, audit committee meetings, and managerial ownership, with firm size and profitability included as control variables. The findings reveal that board financial expertise, board independence, and audit committee meetings have significant positive effects on financial disclosure, while managerial ownership exerts a significant negative influence. Board gender diversity, although positively related to disclosure, was not statistically significant. The results underscore the importance of effective internal governance mechanisms in promoting transparency and accountability in the Nigerian banking sector. The study recommends strengthening board independence and financial expertise, enhancing audit committee functionality, and improving regulatory oversight on ownership structures to foster robust disclosure practices
TABLE OF CONTENTS (JEAR VOL. 10, ISSUE, 2, JUNE 2025)
No full textJournal of Economics and Allied Research (JEAR) is a peer-reviewed open access journal published by the Centre for Contemporary Economics and Allied Research, Department of Economics, University of Nigeria, Nsukka in collaboration with K-injo Publishers Limited.
The journal accepts state of the art research in the following areas: All areas of mainstream economics as well as other areas such as education, environment, health, economics geography, development issues, social and cultural issues, petroleum and energy economics, political economy, and public policy.
The journal publishes articles quarterly (March, June, September and December Issues). The journal can also publish more than four times a year depending on the rate of submission and also based on editorial board’s decision. Articles involving cross sectional, cross country, time series and panel studies are welcome. In selecting articles for publication (from articles that have passed the review process) the journal will endeavour to strike a balance among the subject areas and methodological approaches. In order to facilitate the speed of acceptance, articles addressing current economic problems or challenges with specific policy relevance will be given priority
IMPACT OF TELECOMMUNICATION INFRASTRUCTURE ON ECONOMIC GROWTH IN NIGERIA
Full text linkThis study examines the impact of telecommunication infrastructure on economic growth in Nigeria from 2001 to 2022, grounded in the endogenous growth theory. Unlike previous studies that rely on monetary proxies, this research constructs a composite telecommunication infrastructure index with the aid of Principal Component Analysis (PCA), incorporating key variables, which include fixed broadband subscriptions per 100 persons, mobile cellular subscriptions per 100 persons, and secure internet servers per one million persons. This multidimensional index offers a more accurate representation of infrastructure utilization and quality. The study utilizes the Autoregressive Distributed Lag (ARDL) bounds testing technique to explore both short-term and long-term relationships, given the mixed order of integration among variables. The empirical results indicate that, in the long run, telecommunication infrastructure has a marginally positive impact on the Nigeria economic growth, but its effect is statistically insignificant and below its potential , and it exerts a negative and statistically significant impact on economic growth in the short run. These findings suggest that operational inefficiencies occasioned by poor rural network service penetration and network infrastructure vandalism undermine the short-term benefits of telecom investments. However, with sustained long-term investment and policy reforms, the sector holds potential for growth-enhancing effects. Policy implications include; prioritizing telecom infrastructure as a critical national asset, expanding rural internet access, and enhancing regulatory frameworks by harmonizing the right-of-way federal and state charges to promote private sector participation and digital inclusiveness
EVALUATION OF PREBISCH-SINGER THESIS BETWEEN NIGERIA AND USA
Full text linkThe Prebisch-Singer thesis (PST) states that the price of primary commodities decline relative to the price of manufactured goods on the long term, which causes the terms of trade of primary-product-based economies to deteriorate. The essence of PST is that the peripheral or less developed countries (LDC’s) had to export large amounts of their primary products in order to import manufactured goods from the industrially advanced countries. Nigeria over the years seems to have been caught on this web of unequal trade interaction with the industrially advanced countries and therefore, needs a functional regional trade blocs to leverage on for a better terms of trade. This study therefore aims at ascertaining the degree of potential gains or loss of Nigeria’s trade relation with USA, using a fixed-effect panel data model sourced from the world Development Indicators. The study revealed that PST is real in Nigeria, as successive trading with economically advanced and industrialized nations have kept the country’s BOPs at a deficit. The study therefore argued that AFCFTA should be an option for Nigeria as it unlock manufacturing potential and facilitate industrialization, driving sustainable growth and jobs among other objectives. Findings from the study revealed the need for Nigeria to diversify into the manufacturing sector as a matter of urgency in order to avert declining terms of trade. Nigeria needs to take advantage of this AFCFTA agreement which is an intra-African trade, in order to provide a new era of development model for the African continent
INCOME INEQUALITY, WEALTH DISTRIBUTION AND SUSTAINABLE ECONOMIC DEVELOPMENT: A REVIEW OF STEADY STATE ECONOMIC THEORY FOR DEVELOPING ECONOMIES
Full text linkEcological economists and environmental scientists have challenged the possibility of our current economic system being driven by more growth to guarantee a healthy environment, achieve human well-being and promote social equality. This issue emerged because of growing rates of environmental degradation, social breakdowns, and income inequality that have characterised the world system. In response to these concerns, Daly (1996) proposed the concept of “steady state economy (SSE)” as an alternative economic model. The concept deviates from mainstream economics, which focuses on growth. It draws attention to the need to improve the quality of life and maintain stable and sustainable resource use that is kept within the ecological limits. Using a critical review approach, I explored the relevance and applicability of this concept in developing countries. The study posits that although SSE is more suited for developed countries, some of its principles can be adapted to advance sustainable economic development in developing economies, particularly regarding income inequality
ASSESSING THE IMPACT OF LIBRARY ELECTRONIC RESOURCES ON STUDENTS’ ACADEMIC PERFORMANCE IN ECONOMICS IN PRIVATE UNIVERSITIES IN LAGOS STATE, NIGERIA
Full text linkThis study examined the impact of library electronic resources on students’ academic performance in economics in private universities in Lagos State, Nigeria. Library electronic resources are digital materials and tools provided by libraries to support research, teaching, and learning. These resources include online journals, e-books, databases, multimedia content, and economic data repositories serve as critical tools that can enhance students' academic performance in Economics. Four research questions and one hypothesis guided the study. The study employed descriptive survey research designs. The simple random sampling technique was used in selecting a sample size of 80 students in economics department. The research instrument used for the data collection in this study was self-structured questionnaire. The data collected were analyzed using frequency tables, and simple percentages were used to summarize the data. Pearson Product Moment Correlation (PPMC) analysis was also used to test the hypothesis formulated for the study. The level of significance was set at 0.05. Based on these findings, the study revealed that there was significant relationship between library electronic resources on students’ academic performance in economics in private universities in Lagos State, Nigeria. This implies that the library electronic resources helps to improve the understanding of economics and academic performance in assignments, reading online, research project, exams, overall academic assessments in Economics. The study recommended that government should develop a national policy focuses on digital library resources for tertiary education, encouraging private universities to adopt global best practices in managing e-resources. The study also recommended that university library management should create awareness of the use of library electronic resources for students by conducting trainings, workshops, seminars, et
EFFECTIVENESS OF NIGERIA’S FISCAL POLICY IN MANAGING OIL PRICE SHOCKS: IMPLICATIONS FOR HEALTH EXPENDITURE AND EXTERNAL DEBT SUSTAINABILITY USING D-i-D TECHNIQUE
Full text linkThe volatility of oil prices presents significant fiscal challenges for oil-dependent economies like Nigeria, often exacerbating economic instability and undermining social sector investments. This study investigates the effectiveness of Nigeria’s fiscal policy in managing oil price shocks, with particular emphasis on their implications for health expenditure and debt sustainability. Motivated by the need to address persistent fiscal imbalances and declining public healthcare funding, the study examines the extent to which fiscal responses mitigate the adverse impacts of oil price fluctuations over a 43-year period. Grounded in Resource curse hypothesis, Wagner’s law and fiscal illusion, and Public finance theory, the study highlights the inadequacies of countercyclical fiscal policies in resource-dependent economies. The analysis employs the Difference-inDifferences (D-i-D) technique, and macroeconomic time series data. Key variables include oil price changes, government health expenditure, and debt-to-GDP ratio. Findings from the study reveal that fiscal policy responses during periods of economic contraction often result in reduced healthcare spending and increased borrowing. In contrast, periods of economic recovery from rising oil prices show limited fiscal prudence, with inadequate investments in social infrastructure or debt reduction. These inefficiencies amplify fiscal vulnerabilities and compromise long-term economic stability.The study recommends adopting countercyclical fiscal measures, diversifying revenue sources, and strengthening institutional frameworks to enhance fiscal resilience. Policymakers should prioritize healthcare financing and debt sustainability to mitigate the socioeconomic effects of oil price volatility, ensuring equitable access to health services and fiscal stability
REVISITING THE ENVIRONMENTAL KUZNETS RELATION IN NIGERIA: AN EMPIRICAL STUDY OF ECONOMIC AND ENVIRONMENTAL TRENDS
Full text linkThis study reexamines the Environmental Kuznets Curve (EKC) in the context of Nigeria, exploring the relationship between economic growth and environmental degradation. The EKC hypothesis suggests that as an economy grows, environmental degradation worsens initially, but improves once a certain income threshold is reached. While some studies support this theory, others have produced mixed results, largely due to the oversimplification of the relationship between economic growth and environmental quality. The study specifically focuses on Nigeria, assessing the EKC hypothesis using indicators of environmental degradation such as CO₂ emissions, fossil fuel consumption, resource depletion, and erosion. The study aims to determine if a relationship exists between these environmental indicators and per capita GDP, whether the relationship follows the EKC pattern, and if Nigeria has reached the income threshold where economic growth begins to benefit the environment. Using time-series data from 1981 to 2023 sourced from the World Bank, the study employs threshold regression analysis to test the EKC. Results indicate that while some models support the EKC theory, the relationship is not consistent across all environmental indicators. The study concludes that for Nigeria to achieve sustainable and balanced growth, the government should implement green technologies, promote renewable energy, adopt circular economy models, and enforce stricter environmental regulations to mitigate pollution, preserve resources, and combat climate change. These measures could help Nigeria transition to a more environmentally sustainable growth trajectory
DOES ENERGY POVERTY UNDERMINE ENVIRONMENTAL SUSTAINABILITY? EVIDENCE FROM NIGERIA
Full text linkThis study explores the nexus between energy poverty and environmental sustainability in Nigeria using annual data from 1995-2024 sourced from the World Development Indicators. Environmental sustainability was measured through institutional policy ratings, while energy poverty served as the core explanatory variable, complemented by access to electricity, electricity consumption per capita, fossil fuel use, and access to clean fuel as threshold variables. Foreign direct investment, urbanisation, and per capita income were included as controls. Employing the autoregressive distributed lag (ARDL) approach, the results confirmed long-run cointegration among the variables. The short-run estimates revealed largely insignificant effects, though access to electricity and clean fuel exhibited contractionary tendencies. In the long run, access to electricity and urbanisation significantly improved environmental sustainability, whereas energy poverty, fossil fuel dependence, foreign direct investment, and per capita income exerted adverse effects, reflecting structural inefficiencies and enclave-type investment practices. Post-estimation diagnostics confirmed the robustness of the model. From a policy perspective, the findings underscore the need to reduce energy poverty through broader electricity access and clean energy adoption, promote sustainable urbanisation with adequate infrastructure, and restructure foreign investment to maximise domestic spillovers. Failure to address fossil fuel dependence risks undermining Nigeria’s long-run environmental sustainability agenda
DOES TECHNOLOGICAL PROGRESS COMPLEMENT THE IMPACT OF CARBON EMISSIONS ON POVERTY RATE? EVIDENCE FROM VECM APPROACH
Full text linkThis study examines the relationship between carbon emissions, technological advancement, and poverty reduction in Nigeria. Using a combination of Johansen cointegration and Vector Error Correction Model (VECM) techniques and 1990-2023 annual data, the study analyzes both long-run and short-run relationships among key economic and environmental variables. The findings reveal that while technological advancement significantly reduces poverty, increased carbon emissions, infrastructure expansion-measured through access to electricity-, and economic growth exacerbate poverty levels. These results underscore the importance of integrating technological innovation with environmentally sustainable policies to achieve meaningful poverty alleviation. The study recommends targeted policy interventions to enhance digital access, improve renewable energy adoption, and mitigate the adverse effects of carbon emissions on vulnerable populations. Further research should explore regional disparities and household-level impacts of technology and environmental factors on povert