4 results
Search Results
2. Trivariate analysis of oil revenue, government spending and economic growth in Nigeria.
- Author
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Fasanya, Ismail O. and Ogundare, Abosede E.
- Subjects
PETROLEUM ,BUSINESS revenue ,PUBLIC spending ,ECONOMIC development ,GROSS domestic product ,ECONOMICS - Abstract
Abstract: This study examines the dynamic relationship between oil revenue, government spending and economic growth in Nigeria. Since the discovery of oil, oil proceeds have dominated the country's federation account and have improved public spending. In this paper, we analyse if the huge government spending has improved the rate of economic growth. To do this, the multivariate vector autoregression framework with special attention to Generalised Impulse Response Function is adopted in analysing the annual data of oil revenue, total government expenditure and real Gross Domestic Product from 1980 to 2015. We find evidence that oil receipts remain the major route which public spending is financed and the fundamental source for growth. Hence, there is need for the government to diversify the sources of foreign exchange inflow of the country. The diversification of the economy is required to insulate it from external shocks. It is recommended for Nigeria to explore ways of reviving its huge agricultural potential which has been neglected since the discovery of oil in addition to exploring its rich untapped solid minerals deposit in order to promote diversification of the economy away from a mono cultural product base. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
3. An Examination of Subnational Growth in Nigeria: 1999-2012.
- Author
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Obikili, Nonso
- Subjects
ECONOMIC development ,REMOTE sensing ,DEMOCRACY ,GROSS domestic product ,LOCAL government ,STATE governments ,ECONOMICS - Abstract
I use satellite imagery on night-time lights to measure growth across states and local government areas in Nigeria since the return of democracy in 1999. The data suggest that states in southern Nigeria have grown faster on average than states in the north. Using the Ordinary Least Squares, I estimate a relationship between change in night lights and real gross domestic product ( GDP) growth in Africa and use the coefficients to estimate GDP growth for states and local government areas in Nigeria over the period. Finally, I evaluate the effects of violence on growth in Plateau, Yobe and Borno states. I find that the crisis in Plateau state has resulted in slower growth compared with other states in the region. I also show that Yobe and Borno states had performed worse than other states in the north even before the outbreak of violence related to the Boko Haram sect. [ABSTRACT FROM AUTHOR]
- Published
- 2015
- Full Text
- View/download PDF
4. Revisiting the impact of credit market development on Nigeria's economic growth.
- Author
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Ayowole, Temitayo Esther and Beton Kalmaz, Demet
- Subjects
ECONOMIC expansion ,FOREIGN investments ,GROSS domestic product ,ECONOMIC policy ,ECONOMIC development ,BOND market ,FINANCE - Abstract
This study aims to reinvestigate the long run relationship between credit market development and economic growth in Nigeria covering the years between 1981 and 2016 by applying recently developed econometric techniques. In addition to measures of credit market development indicators of domestic credit to the private sector and broad money, trade openness, foreign direct investment and urbanization are also included in estimations to overcome the omitted variable problem. The measure for economic growth used is real gross domestic product. To the best of our knowledge, no study has been conducted before, examining these relationships with all these listed indicators. Therefore, this study proposes to close this gap in the literature. To capture the long run effects, we used ARDL, Fully Modified Ordinary Least Squares, and Dynamic Ordinary Least Squares estimator approaches. Findings uncover that (a) a long run equilibrium relationship exists between credit market development and economic growth, (b) economic policy makers are required to seek after developing the credit market with the main intention of guaranteeing that banks and other money related establishments are enabled and empowered to give the essential funds to the beneficial part of the economy which are urban and private sectors. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
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