JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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EFFECT OF WOODFUEL CONSUMPTION ON UNDER FIVE AND INFANT MORTALITY IN SUB SAHARAN AFRICAN COUNTRIES: SYSTEM GMM APPROACH
Full text linkThis study aims to investigate the effect of woodfuel consumption on under-five and infant mortality in Sub-Saharan African countries by using a panel data set of 44 Sub-Saharan African countries spanning from 2011 to 2019. System Generalized Method of Moments (GMM) was used in analyzing the data. The estimated GMM result revealed that woodfuel consumption is positively associated with both under-five and infant mortality. This implies that a 1% increase in woodfuel consumption increases under-five and infant mortality by .0000579% and .0000304%, respectively. The study further reveals that per capita income, government health expenditure, and food availability were significant determinants of under-five and infant mortality in Sub-Saharan African countries. The findings of this study revealed concern for population health and the future of the labor force in the region. The study recommends that Sub-Saharan African governments, non-governmental organizations, donor agencies, and foundations make clean cooking energy, such as electricity, gas, and solar, available and affordable to households; this would facilitate the transition from wood fuel to cleaner fuel
ANALYSIS OF INSECURITY, LABOUR FORCE, CAPITAL STOCK AND ECONOMIC GROWTH NEXUS IN NIGERIA
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This study examines the interrelationship between insecurity, the labour force, capital stock, and economic growth in Nigeria, a nation facing complex socio-economic challenges. The primary objective is to analyze how these factors interact and influence economic growth. The study employs an Autoregressive Distributed Lag (ARDL) model to examine the relationship between the variables, after confirming their order of integration through an ex-ante analysis, which shows a mix of I(1) and I(0) processes. The ARDL model bound test confirms cointegration among the variables at the 1% significance level, suggesting that the Nigerian economy can recover from short-term shocks and reach equilibrium over time. The findings reveal that, in the short run, insecurity and capital stock do not significantly impact economic growth, while labour force participation has a positive and statistically significant influence. The speed of adjustment is slow, with a negative and significant coefficient of -0.038908, indicating the need for more immediate policy interventions to facilitate a quicker return to equilibrium. Key recommendations based on these findings include prioritizing national security and increasing labour force participation, particularly among youth, women, and rural populations, through education and skill development programs. However, the government should implement policies to enhance capital stock by improving infrastructure, fostering foreign direct investment (FDI), and enhancing access to affordable credit for small and medium-sized enterprises (SMEs). These actions will stimulate private sector growth and contribute to long-term economic development
EXAMINING THE LINK BETWEEN GREEN ENERGY ADOPTION AND ECONOMIC PROGRESS: EVIDENCE FROM NIGERIA
Full text linkThis study investigates the impact of renewable energy consumption on economic growth and productivity in Nigeria, using two distinct datasets spanning 1990–2023 and 2000–2023. Employing the Autoregressive Distributed Lag (ARDL) bounds testing approach and Pairwise Granger causality analysis, the study provides new insights into the dynamic and causal relationships among key macroeconomic variables. The findings reveal that renewable energy consumption has a significant negative effect on economic growth in the long run and a consistently negative impact on economic productivity in both the short and long term. Causality tests show a unidirectional relationship from economic growth to renewable energy consumption, and from renewable energy consumption to economic productivity. While foreign direct investment (FDI) and trade openness positively influence economic growth, they are found to hinder productivity. Conversely, natural resource endowment negatively affects growth but enhances productivity. Domestic credit to the private sector supports both growth and productivity. These findings highlight the need for strategic policies that position renewable energy as a complementary input to production while maintaining economic stability. The study recommends a phased transition to renewable energy, supported by financial incentives, modern infrastructure investment, and enhanced research and development. Such measures will help Nigeria achieve sustainable and inclusive economic transformation
IMPACT OF INFLATION AND PER CAPITA INCOME ON CONSUMPTION EXPENDITURE IN ECOWAS
Full text linkThe study used advanced auto regressive distributed lag to examine the relationship between consumer expenditure, inflation rate, and per capita income in nine ECOWAS countries from 1991 to 2023. It finds a cointegration link between GDP per capita, inflation rate, and consumption spending. In the long run, consumption is positively impacted by inflation and income in eight ECOWAS countries while in the short run, high inflation leads to a decrease in consumption expenditure. The study recommends that the government should keep inflation under control and encourage economic expansion, central banks and fiscal authorities must work together and policymakers should create stimulus plans or tax breaks that will boost spending and spur economic expansion
THEORETICAL FOUNDATION AND DYNAMICS OF PUBLIC DEBT IN SELECTED COUNTRIES
Full text linkThis paper discusses the importance of effective public debt management for fiscal sustainability, economic stability, and growth. It examines different types of public debt and lessons learned from countries with high debt burdens. The paper provides a comparative analysis of public debt levels across countries and discusses debt sustainability analysis, highlighting the impact of public debt on economic growth. Various public debt management strategies are discussed, with a focus on emerging trends. The research emphasizes the need for sustainable financing, particularly through green and social bonds, and the integration of advanced technologies. The paper also emphasizes the development of local currency bond markets and enhanced risk management practices to reduce dependency on foreign debt and mitigate market risks. The paper concludes that, although scholars have exhaustively reviewed public debt in various countries around the world, the dynamics of public debt are still evolving. The study recommended promoting sustainable financing for improving public debt management practices among others
DISAGGREGATED HOUSEHOLD CONSUMPTION EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA
Full text linkThe study empirically analyzed the disaggregated household consumption expenditure on economic growth in Nigeria for the period of 1981-2023. The dependent variable is gross domestic product growth rate (GDPGR) while the explanatory variables are Final Consumption Expenditure of Household (FCEH) and Final Consumption Expenditure of Non-ProfitInstitution Serving Household (FCEN). The data were all sourced from Central Bank of Nigeria Statistical Bulletin 2023. The preliminary analysis was carried out using Augmented Dickey Fuller Unit Root test and Johansen Cointegration while the main estimation technique is Vector Error Correction Method and Granger Causality/Block Exogeneity Wald Tests. This study revealed that the Final Consumption Expenditure of Households (FCEH) significantly drives Nigeria's GDP growth, with a short-term impact of 9.35 percentage points and a stronger longterm effect of 17.80 percentage points. The Final Consumption Expenditure of Non-Profits Serving Households (FCEN) shows short-term benefits with a 1.91 percentage point rise but a long-term decline of 2.78 percentage points. The Granger Causality Test indicates that FCEH and FCEN Granger-cause GDP growth. This study concluded with emphasize on the importance of promoting household consumption while optimizing public expenditure to support long-term economic growth. To foster economic growth, Nigeria should implement policies to increase household disposable income and boost consumer spending, while also expanding social welfare programs to reduce regional disparities
DECOUPLING GROWTH AND EMISSIONS: ECONOMETRIC EVIDENCE FROM SELECTED AFRICAN ECONOMIES
Full text linkThe nexus between economic growth, energy consumption, and climate change aligned with different emission levels has been a growing contention among the stakeholders. The narrative of striking a balance between economy, climate, and resource management is one of the primary fundamentals of recent Sustainable development goals. African nations are not only geographically important but also economically significant which is mostly ignored in most research. This study employed the autoregressive distributed lag (ARDL) approach as it explains how economic variables change over time. To examine the overall impact of energy consumption (per capita), renewable energy consumption (per capita), and CO2 emissions on GDP, three African nations—Nigeria, South Africa, and Morocco—have been selected. . According to this study, renewable energy may impede economic progress. On the other hand, over time, renewable energy sources do hurt CO2 emissions but a positive effect on measures of economic growth like GDP per capita. African nations have the option to use renewable energy sources, which can lessen environmental harm and promote general economic expansion. This study can help emerging nations find strategies to attain sustainable development without reverting to the carbon-intensive models of the past. Policymakers can use this information to determine which economic sectors use the most energy and to evaluate the effects of switching to low-carbon alternatives. This study also impacts the security of the energy supply because reliance on renewable energy sources lessens reliance on finite and unstable fossil fuel supplies. Additionally, it advocates for the implementation of financial incentives that encourage innovation and private investment in sustainable practices, such as carbon taxes and green financing
IMPACT OF AUDIT QUALITY ON FINANCIAL REPORTING QUALITY OF LISTED OIL AND GAS FIRMS IN NIGERIA: THE MODERATING ROLE OF INTERNAL CONTROL SYSTEM (ICS)
Full text linkThe increase in a number of scandalous reportage in the last three decade have led to apprehensions about legitimacy of most firms financial reporting qualities. This study investigated the moderating effect of internal control system (ICS) on the relationship between audit quality and financial reporting quality (FRQ) of listed oil and gas firm in Nigeria. For a period of ten years (2013-2022). The study has employed the use of regression model as technique of analysis. The population of the study is all the 13 oil and gas companies listed on the Nigerian stock exchange as at 31st December, 2022 and a purposive sampling techniques was adopted in arriving at the 10 samples. Secondary data was employed and data were extracted from the financial statements of the all samples oil and gas firm in Nigeria. The study findings is that both auditor fee (AF), audit size (AS) and internal control system (ICS) has a significant impact on the FRQ of oil and gas firms in Nigeria while audit tenure (AT), Leverage (LEV)) and firms size (FSIZE) has no significantly impact FRQ of the sampled oil and gas firms in Nigeria. The study also confirmed that ICS only moderated AF, AS and AT the sampled firms. The study therefore, concluded that both AF, AT and AS has significant and positive impact on the FRQ of listed oil and gas firms in Nigeria. The study further concluded that ICS significantly moderated the relationship between AF (ICS_AF),AS (ICS_AS ), AT (ICS_AT ) and FRQ of the listed sampled firms. This study therefore recommended that the composition of internal control system for the oil and gas firms should be sustained and improved upon in order to enhance audit quality since it moderated both AF, AS and AT significantly
IMPACT OF GOOD GOVERNANCE ON PUBLIC DEBT IN NIGERIA
Full text linkNigeria has faced substantial public debt challenges, exacerbated by corruption and inadequate accountability. This study looks at how good governance has an effect on Nigeria's public debt from 2003 to 2022. It utilizes data on corruption control, political stability without violence, rule of law, and voice and accountability from the World Bank Development Indicator (2023).Details about total external debt and information and communication technology come from the Central Bank of Nigeria Statistical Bulletin (2023). The autoregressive distributed lag model shows in its long-term analysis that PSAV, RLE, VAE (lag-1), and ICT have a positive effect on public debt, while CCE and VAE have a negative effect on public debt. Short-term results show that PSAV RLE, and ICT keep having a positive effect on public debt, while CCE and VAE keep having a negative effect. The study concludes that effective governance, marked by increased accountability and reduced corruption, can significantly alleviate public debt issues. It recommends that the Nigerian government implement robust anti-corruption policies, strengthen the rule of law, and enhance transparency in debt management. Additionally, it suggests improving legislative oversight to ensure all borrowing decisions are scrutinized and approved by parliamentary bodies, with appropriate tools and training for legislators. These measures are essential for better public debt management and for building stakeholder trus