GUSAU JOURNAL OF ECONOMICS AND DEVELOPMENT STUDIES
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ANALYSIS OF THE IMPACT OF DEPOSIT MONEY BANK’S FINANCING ON GROSS DOMESTIC PRODUCT PER CAPITA OF NIGERIA USING THE ARDL MODEL
Get PDFThis study examines the impact of Deposit Money Bank (DMB) financing on GDP per Capita (GDPPC) of Nigeria for 37years (1982-2019). Quantitative research method was utilized where by econometric tools such as unit root, Autoregressive Distributive Lag (ARDL) model, and granger causality test were employed. Secondary data obtained from World bank and Central Bank of Nigeria Data base was used. The study revealed that all the variables adopted for this study [GDPPC, Credit to Private Sector (CPS), Total Deposit Liabilities (TOD), Manufacturing Output (MAO), Prime Lending Rate (PLR), Population Growth (POPGR)] are stationary and also the bound test revealed that there exists a long run relationship at 5 percent level of significance. Also, the R-square is 0.55 which implies that 55% of the ARDL model is been explained by the independent variables. Furthermore, the finding reveals that CPS, TOD, MAO, POPGR, PLR have a positive relationship to GDPPC but only PLR and POPGR that are statistically significance. Also, the study reveals that CPS and GDPPC have neither a unidirectional or bidirectional relationship. Additionally, the Error Correction Model (ECM) coefficient is statistically significant which is CointEq (-1) is -0.87. This implies that GDPPC has a speed of adjustment of 87% to return to equilibrium if there are deviations from CPS, TOA, MAO, PLR and POPGR. The study concluded that the Banks financing has a marginal positive impact on the GDPPC. Therefore, the study recommends that, the monetary authorities should sustain PLR as this will motivate banks to increase their lending especially to the real sector of the economy which invariably stimulate growth
EFFECT OF HOUSEHOLDS’ PRIMARY COOKING FUEL ON INFANT’S ACUTE RESPIRATORY INFECTION IN NIGERIA
Get PDFAcute Respiratory Infection (ARI) has been identified as a major global burden of disease and a dominant cause of under-5 mortality in Nigeria. Oxidative stress and irritations in respiratory tracts are linked to toxic emission from household cooking with unclean biomass fuels. Yet, the extent to which individual polluting fuels explain the prevalence of ARI among under-5 children in Nigeria is unclear. This study therefore adopts a disaggregated-fuel approach to examine the contributory role of household cooking fuels on the prevalence of ARI in Nigeria. It uses the 2018 Demographic and Health Survey data and employs a Logistic Regression model to examine the fuel-ARI link among underfive children in the country. The result suggests that 91% of children in homes cooking with unclean fuels experience ARI while barely 8% reported the same in clean cooking households. Also, cooking with firewood and strew was significantly linked to ARI, while other factors such as maternal education, household wealth and place of residency equally predicted ARI prevalence among under-5 children. The study recommends the need for policies targeted towards up-scaling the deployment of improved cooking stoves among rural, biomass cooking households in country
IMPACT OF GOVERNANCE AND COMPENSATION PRACTICES ON THE PERFORMANCE OF FINANCIAL SECTOR. A CASE STUDY OF FIRST BANK PLC
Get PDFThis paper examined the governance and compensation practice on financial sector with particular reference to First bank Plc, Lagos state. To achieve the objectives set for the study, questionnaires were used to elicit the needed information from the target respondents of Fist bank Plc. A study population of 2,836 with a sample size of 351 staff gotten through Taro Yamani sample size determination formula made up the respondents from the study. Two hypotheses were formulated and tested. The statistical technique used was multiple regression analysis. The result shows that a statistically strong and positive relationship exists between transparency and competitive advantage (R square = 0.673 p < 0.05), and that incentives have significant influence on employee performance (R square = 0.801 p < 0.05). This result is statistically significant as the p-value of the results (0.000) is less than 0.05 level of significance set for the study. The study concluded that transparency has a strong and significant impact on competitive advantage and incentives affect employee performance. Therefore, the study recommended that organizational managers should increase transparency that creates trust between employers and employees, helps improve morale, and also lowers jobrelated stress to gain competitive edge above rivals
IMPACT OF PRIVATE CREDIT ON NON-FINANCIAL FIRMS CAPITAL STRUCTURE IN AFRICA
Get PDFThe basic focus of this empirical study is to assess whether the private credit improves access to non-financial firms' debt capital in Africa. This research uses a panel data model to analyze the relationship between private credit and capital structure of nonfinancial firms’ in Africa. The research used two-step Generalized Method of Moments approach to evaluate panel data for the period 2010-2018 for 406 firms from eight African nations. The research finds evidence that growth in private credit raises the debt capital of firms in African nations. The growth in private credit has been shown to have positive influence on capital structure choices of non-financial firms in the selected African nations. In addition, the outcome revealed that firms in Africa prefer debt financing in their capital structure. This results illustrates the vital role played by financial markets in helping non-financial firms in Africa to get access to debt capital
SENSITIVITY OF EXCHANGE RATE TO CBN MONETARY POLICY COMMUNICATIONS 2010-2020
Get PDFOver the last decade, central bank communication has become an increasingly essential policy instrument for monetary authorities. This is due to the significant impact that central bank communication has on economic agents' expectations and, as a result, their economic decision-making. This study therefore investigated the sensitivity of Exchange rate to MPC communication from 1st January, 2010 to 30th June, 2020 series of test were carryout and EGARCH was chosen as the appropriate techniques in which dummy variable was used to capture the meeting days in the variance equation. Data of monetary policy were sourced from CBN website. The results of an EGARCH model show that the communications between central bank and the money market are considerably informative and therefore assist to reduce market ‘Exchange rates' volatility. The study has so concluded that the Communication from the Central Bank in Nigeria has an impact on the desired direction of Exchange. One policy implication of this conclusion is that it is clear enough about the desired policy orientation for the future that CBN communique substance of MPC meetings will guide the market in the proper way. This is consistent with the recognized literature, that if a central bank opens the foundations for monetary policy implementation up to the markets, it raises the odds of controlling agents' expectations. Therefor the study recommends that the meeting should be sustained
IMPACT OF REMITTANCES ON FINANCIAL SECTOR DEVELOPMENT IN NIGERIA
Get PDFThis study investigates the impact of remittances on financial sector development in Nigeria using annual data from 1986 to 2020. Autoregressive distributed lag (ARDL) bound testing approach was employed. Evidence from the bounds test results revealed a long run relationship exists between financial sector development, remittances (REMT), GDP growth rate (GDP), real interest rate (RIR), gross fixed capital formation (GCFG) and trade openness (TROP). The empirical findings from the ARDL result shows that, there is positive relationship between financial sector development, RIR, GCFG, and TROP. While negative relationship exists among REMT, GDP and financial sector development. Based on the empirical findings, the study makes the following recommendations; government should employ policies that will encourage judicious utilization of funds received through remittances by channeling the funds into productive investment as it will encourage more inflow of remittances. Also, Nigerian government should make policy measures more stabilized to attract more inflow of remittances