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  • THE IMPACT OF GOVERNMENT EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA A REGRESSION ANALYSIS

    » ABSTRACT The study examined the Impact of Government expenditure on Economic growth in Nigeria. The period between 1981-201 was studied using the Classical Linear Regression model and Ordinary Least Square (OLS) estimation technique. The regression results reveal that Government expenditure significantly have a positive impact on Economic growth in Nigeria. It was also found that on the average, on the long run government expenditure play a vital role in improving Economic growth in Nigeria. More so, Public debt, though not statistically significant has a positive impact on growth. Finally, recommendation was drawn that there should be an adequate scrutiny of the budget prepared by the bureaus in order to checkmate their level of expenditure so that as government expenditure on productive sectors like health, education and the manufacturing sector increase there will be positive impact on the economy. Since government revenue is a key factor in determining the size of public sector, the revenue base should be expanded (diversify) beyond oil sector to include other unexploited solid minerals, agricultural exports and other avenues that could increase the revenue base. Finally, Government should ensure that capital expenditure and recurrent expenditure are properly managed in a manner that it will raise the nation’s production capacity....Continue Reading »

    Item Type: Project Material |  87 Pages |  2,087 engagements | 

  • IMPACT OF INTEREST RATES SPREAD AND FINANCIAL DEVELOPMENT ON FOREIGN CAPITAL INFLOW IN NIGERIA

    » ABSTRACT This work was conducted to find the impact of interest rates spread and financial development on foreign capital inflow in Nigeria from 1985-2015. Using the OLS (Ordinary Least Square) method, the results showed that although financial development has a positive relationship with foreign capital inflow, it was statistically insignificant. Interest rates spread on the other hand, were found to have a positive impact on foreign capital inflow. Other control variables such as market capitalization and treasury bills rate were also found to positively affect foreign capital inflow, while the all share index had a negative impact on foreign capital inflow. The study therefore concluded that enhancing financial development through sound policies and adopting competitive interest rates, could increase the rate of foreign inflow into the economy. In view of this, it is recommended that government policies should target interest rate competitiveness, financial and economic development as well as sustainability. ...Continue Reading »

    Item Type: Project Material |  70 Pages |  2,087 engagements | 

  • STOCK MARKET RETURNS CAPITAL FORMATION AND PRIVATE INVESTMENT IN NIGERIA

    » Abstract This paper investigates the role of banks in the Nigerian economy; what has happened to poverty reduction in Nigeria, covering the period of 1981 ? 2017. Real Gross Domestic Product (RGDP), Poverty Level (POV), Return on asset of banks (ROA), Credit to Private Sector (CPS) and Savings and Time deposit with commercial Banks (STD) were the variables used to carry out this research, using the OLS methodology. The time series properties of the variables were investigated by conducting a unit root test and further to the cointegration analysis. The result showed a the banking activities have a significant and positive relationship with economic growth, but has a significant effect on poverty alleviation. This paper therefore recommends that the implementation of these newer reforms should be made to evolve in a gradual process for proper enlightenment and entrenchment. The Central Bank of Nigeria (CBN) should endeavor to capture the short and long term implications, on all sectors of the economy particularly the rural sector, when making future policy recommendations. ...Continue Reading »

    Item Type: Project Material |  40 pages |  2,087 engagements | 

  • STOCK MARKET RETURNS, CAPITAL FORMATION AND PRIVATE INVESTMENT IN NIGERIA

    » ABSTRACT One of the major manifestations of the bad financial innovation and its difficult reforming task is the enduring nature of the traditional/informal financing system and the recent attempt at modernizing it by the launching of the new Microfinance Policy, Regulatory and Supervisory Framework for Nigeria by the President, Chief Obasanjo on December 15, 206. As stated, by Tunde Lemo, CBN Deputy Governor (2006), the launching is to ?ensure that financial services reach the over 80 million Nigerians unserved by formal financial innovation in Nigeria, especially the economically active poor and low income households who could not have access to services from the formal financial institutions?. The microfinance policy was to complement the on going banking sector reform that has been on since two decades ago in 1986/87...Continue Reading »

    Item Type: Project Material |  46 pages |  2,087 engagements | 

  • STOCK MARKET RETURNS, CAPITAL FORMATION AND PRIVATE INVESTMENT IN NIGERIA

    » ABSTRACT Almost all the economists has laid emphasis on capital formation as the major determinant of growth. The meaning of capital formation is that society does not apply the whole of its current productive resources to the need for immediate desire for consumption, but direct some part of it to the creation of capital goods, tools and instruments, machines and transport facilities, plants and equipments and all the various forms of real capital that can so greatly increase efficiency of productive effort, through Capital Investment. Therefore, the essence of capital formation is to direct a certain amount of resources available, for the purpose of increasing the stock of capital good so as to make possible for an expansion of consumable output in future (investment). However capital formation entails accumulated savings out of the current income of either organizations or individuals, it is investment in fixed assets which in part is finaniced by the monies raised through the capital market...Continue Reading »

    Item Type: Project Material |  53 pages |  2,087 engagements | 

  • ROLE OF AGRICULTURE IN EMPLOYMENT GENERATION AND POVERTY REDUCTION IN NIGERIA

    » Abstract This study examined the role of agriculture in employment generation and poverty reduction Nigeria between the period 1976-2004. Secondary data were collected from CBN Statistical Bulletin and National Bureau of Statistics (NBS). The variables used Employment in agriculture (% of total employment) (modeled ILO estimate), Poverty headcount ratio at national poverty lines (% of population), Agricultural productivity, Loan to agricultural sector, Transfers to the agricultural sector. The overall or general objective of this research work was to investigate the role of agriculture on employment generation and poverty reduction in Nigeria. Unit root test was carried out to check if the variables were stationary and co-integration analysis was done to ascertain the existence of long run relationship between the variables. The models were estimated using the Ordinary Least Square (OLS) method. From the findings, it was found that AGP is statistically significant in the model and has a negative relationship with employment (i.e. as AGP increases, EMP decreases) and it also has a positive relationship with POV (as AGP increases, POV increases), also LAS has a negative relationship with EMP and a positive relationship with POV, while TRA has a negative relationship with EMP and a positive relationship with POV. Based on these findings, the study recommends amongst others that government should provide appropriate policies that will Ensure that local farmers have access to credit facilities, good storage facilities etc. ...Continue Reading »

    Item Type: Project Material |  41 pages |  2,087 engagements | 

  • PUBLIC DEBT BURDEN AND INFRASTRUCTURAL DEVELOPLEMENT IN NIGERIA

    » ABSTRACT Economic theory suggests that reasonable levels of borrowing by a developing country are likely to enhance its economic growth (Pattillo, Ricci, and Poirson 2002). When economic growth is enhanced (at least more than 5% growth rate) the economy?s poverty situation is likely to be affected positively. In order to encourage growth, countries at early stages of development like Nigeria borrow to augment what they have because of dominance of small stocks of capital hence they are likely to have investment opportunities with rates of return higher than that of their counterparts in developed economies (Amakom, 2003). This becomes effective as long as borrowed funds and some internally ploughed back funds are properly utilized for productive investment and do not suffer from macroeconomic instability, policies that distort economic incentives, or sizable adverse shocks. Growth therefore is likely to increase and allow for timely debt repayments. When this cycle is maintained for a period of time growth will affect per capita income positively which is a prerequisite for poverty reduction (Amakom, 2003). These predictions are known to hold even in theories based on the more realistic assumption that countries may not be able to borrow freely because of the risk of debt denial. ...Continue Reading »

    Item Type: Project Material |  70 Pages |  2,087 engagements | 

  • MONETARY POLICY AND AGRICULTURAL DEVELOPMENT: IMPLICATION FOR UNEMPLOYMENT IN NIGERIA

    » ABSTRACT In the last two decades, monetary policy in Nigeria had relied heavily on the use of direct monetary instruments such as credit ceilings, selective credit controls, administered interest and exchange rate, cash reserve requirements and special deposits. However, after the introduction of structural adjustment programme (SAP), monetary policy has been aimed at fast tracking economic reforms with the objective of providing enabling financial system infrastructure and environment to support sustainable agricultural growth, price stability and employment creation. Monetary policy instruments commonly used in recent times include the issuances of credit rationing guidelines, which primarily set the rates of change for the components and aggregate commercial bank loans and advances to the private sector (Enoma, 2010). The sectoral allocation of bank credit in CBN guidelines was to stimulate the productive sectors and thereby stem inflationary pressures. The fixing of interest rates at relatively low levels was done mainly to promote investment and growth. Occasionally, special deposits were imposed to reduce the amount of free reserves and credit-creating capacity of the banks....Continue Reading »

    Item Type: Project Material |  62 Pages |  2,087 engagements | 

  • BALANCE OF TRADE AND ECONOMIC PERFORMANCE IN NIGERIA: DOES POLITICAL REGIME MATTER

    » ABSTRACT The prevailing institutional design of economic institutions thus depends mostly on the allocation of political power among elite groups. Political institutions, formal and informal, determine both the constraints and incentives faced by key players in a given society. Given the endogenous feature of political institutions and strategic allocation of powers they provide, appropriately chosen institutions can help the development of credible mechanisms capable of decreasing risks of opportunistic behavior of political and economic players. In other words, political institutions have to provide incentives for politicians to abide by them repeatedly over time....Continue Reading »

    Item Type: Project Material |  59 Pages |  2,087 engagements | 

  • INVESTIGATION OF PUBLIC EXPENDITURE GAP ON ECONOMIC GROWTH IN NIGERIA

    » Abstract This study is an attempt to assess the impact of public expenditure gap on the growth of the Nigerian economy, and to ascertain whether there is a relationship between gross domestic product (GDP) and government expenditure in Nigeria. It covers the period of 1981 – 2017 and the Ordinary Least Square (OLS) method of econometric technique was used. The econometric analysis indicates that although there is a positive relationship between the dependent and independent variables, the adjustment of economic growth or gross domestic product was a fair one which made it difficult to reject the null hypothesis. The policy implication of the above scenario is that government over the years appears to be bad managers of resources and have failed to play their role in the process of economic growth and development. The study recommended an urgent need to instill fiscal discipline in government expenditure by initiating far reaching effective internal control measures and more proactive economic management coordination and implementation as well as discouraging all non-productive activities and expenditures in all tiers of government forthwith. Also, both the Federal government and Central Bank of Nigeria (CBN) should be more articulate in managing the exchange rate effectively to achieve her macroeconomic objectives. This will stimulate investment surplus thus raising output and enhancing the standard of living of Nigerians....Continue Reading »

    Item Type: Project Material |  49 Pages  |  2,087 engagements | 

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