70 research outputs found
Monte Carlo Study of Some Classification-Based Ridge Parameter Estimators
No full textRidge estimator in linear regression model requires a ridge parameter, K, of which many have been proposed. In this study, estimators based on Dorugade (2014) and Adnan et al. (2014) were classified into different forms and various types using the idea of Lukman and Ayinde (2015). Some new ridge estimators were proposed. Results shows that the proposed estimators based on Adnan et al. (2014) perform generally better than the existing ones
DETERMINANTS OF INFLATION IN NIGERIA: A CO- INTEGRATION APPROACH
No full textInflation is undeniable one of most leading and dynamics macroeconomics issues confronting almost all economies of the world. Its dynamism has made it an imperative issue to be considered. Hence the study examines the factors affecting inflation in Nigeria. Time series data were employed for the study. The data was sourced from the Central Bank of Nigeria and National Bureau of Statistics. Descriptive statistics and cointegration analysis were the analytical tools used. It was observed that there were variations in the trend pattern of inflation rate. Some of the variables considered were significant in determining inflation in Nigeria. The previous total export was found to have a negative impact on current inflation while the previous total import exerts a positive effect likewise the food price index. It has thus been recommended that policies that will set the interest rate to a level at which it will encourage investment and increase in production level could be institutionalized, importation should be reduced in Nigeria such that it will not encourage change of consumer taste resulting to inflating prices, exchange rate system should be maintained at a level that will not impose threat on the Nigeria economy and the domestic consumption of petroleum product should be focused, not only exportation.Financial Economics,
Analysis of determinants of maize price variations in Nigeria (1978 - 2014)
No full textSkyrocketing prices of food staples such as maize can lead to inefficient agricultural production and definitely have detrimental effects on the economic, social, and political growth of any country. Most studies on maize in Nigeria are focused on the increasing consumption or competitiveness, very few address the determinants of maize price change as a panacea for the increase of productivity. Filling this gap requires a study on the various factors that contribute to the variations in the price of maize. In this study, secondary data were used. The study used descriptive statistics tools to analyze the pattern of price variations and changes in the production of maize over a period of 36 years in Nigeria. Also, various factors affecting price variation of maize were examined. It was recommended that the positive and significant impact of country’s population to maize price change should serve as an impulse to encourage investment in agricultural sector of Nigeria in order to ensure food security in the country. Also, the government should use the inflation measures to regulate prices of maize in the country
Effect of equation identification status and correlation between error terms on estimators of a system of simultaneous equations model
No full text
Robustness of Some Estimators of Linear Model with Autocorrelated Error Terms When Stochastic Regressors are Normally Distributed
No full textPerformances of estimators of the linear model under different level of autocorrelation (ρ) are known to be affected by different specifications of regressors. The robustness of some methods of parameter estimation of linear model to autocorrelation are examined when stochastic regressors are normally distributed. Monte Carlo experiments were conducted at both low and high replications. Comparison and preference of estimator(s) are based on their performances via bias, absolute bias, variance and more importantly the mean squared error of the estimated parameters of the model. Results show that the performances of the estimators improve with increased replication. In estimating all the parameters of the model, the Ordinary Least Square (OLS) estimator is more efficient than any of the Generalized Least Square (GLS) estimators considered when − 0.25 \u3c ρ ≤ 0.25; and the Maximum Likelihood (ML) and the Hildreth and LU (HILU) estimators are robust
A dynamic macro-panel autoregressive distributed lag (ARDL) approach to the determinants of cocoa export among West African
No full textModeling Nigerian Government Revenues and Total Expenditure: An Error Correction Model Approach
No full textThe national total expenditure of a country is precipitated on several factors of which revenue generated could be one and very significant. This paper therefore examines the contribution of some selected sources of Nigerian government revenue to total national expenditure. Secondary data sourced and collected from Nigerian Statistical Bulletin of the Central Bank for a period of thirty nine (39) years were used. Statistical and econometric techniques used for the data analysis are unit root test, cointegration test and the error correction model (ECM). Results showed that the original variables are non stationary but are stationary at first difference. Further investigations resulted into the use of the error correction model whose parameters’ estimation was improved by the use of Feasible Generalized Linear (FGLS) Estimator. Findings revealed significant contribution of oil revenue, federation account (federal allocation) and federal retained revenue to the Nigeria total expenditure and that Nigeria may need to be very cautious as non-availability of revenue from these sources points to non-expenditure. These become very essential if the country will have to achieve its developmental goals and objectives towards development and economic growth, among other things
DETERMINANTS OF INFLATION IN NIGERIA: A CO- INTEGRATION APPROACH
No full textInflation is undeniable one of most leading and dynamics macroeconomics issues
confronting almost all economies of the world. Its dynamism has made it an imperative
issue to be considered. Hence the study examines the factors affecting inflation in
Nigeria. Time series data were employed for the study. The data was sourced from the
Central Bank of Nigeria and National Bureau of Statistics. Descriptive statistics and cointegration
analysis were the analytical tools used. It was observed that there were
variations in the trend pattern of inflation rate. Some of the variables considered were
significant in determining inflation in Nigeria. The previous total export was found to
have a negative impact on current inflation while the previous total import exerts a
positive effect likewise the food price index. It has thus been recommended that policies
that will set the interest rate to a level at which it will encourage investment and increase
in production level could be institutionalized, importation should be reduced in Nigeria
such that it will not encourage change of consumer taste resulting to inflating prices,
exchange rate system should be maintained at a level that will not impose threat on the
Nigeria economy and the domestic consumption of petroleum product should be focused,
not only exportation
Empirical Analysis of Agricultural Growth and Unemployment in Nigeria
No full textUnemployment which has been identified as the major cause of poverty is a worldwide economic problem. Poverty alleviation has been a great concern to developing countries. The economic burden of unemployment on a society necessitates this study. Consequently, this study analyses the Nigerian agricultural growth rate, its contributions, and examines the linkage and dimension of agricultural growth and unemployment rates. Collected time series data were analyzed with the aid of t – test, Duncan Multiple Range test, Granger Causality test and regression analysis. Results showed that Nigerian agricultural growth rate has an inverse relationship with unemployment and re – establish the Cobweb supply theory. In addition, increase in agricultural growth decrease unemployment and thus can alleviate poverty. Consequently, recommending polices to alleviate poverty should focus on increasing agricultural growth.Cobweb supply theory, Granger Causality test, Nigeria, Unemployment, Agricultural and Food Policy, Community/Rural/Urban Development, Environmental Economics and Policy, Farm Management, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, International Relations/Trade, Marketing, Productivity Analysis, Research and Development/Tech Change/Emerging Technologies,
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