Aremo Adeleke - Academia.edu (original) (raw)

Papers by Aremo Adeleke

IOSR Journal of Economics and Finance, Apr 1, 2016

The study examines the interactions among financial development, economic growth and poverty leve... more The study examines the interactions among financial development, economic growth and poverty level in twelve selected low-income sub-Sahara African countries (SSA) between1980 and 2012. The study employed annual data from 1980 to 2012 obtained from World Bank Development Indicators (WDI). Cointegration test was applied to determine the long run relationship among these three key variables while panel vector autoregression Model analysis was conducted to examine the dynamic interactions among financial development, economic growth and poverty level with particular reference to economic growth as a channel linking financial development and poverty. The evidence obtained in this study shows that increase in financial development reduces economic growth and ultimately increases poverty level in low income countries. This suggests that economic growth is a weak channel connecting financial development and poverty level in all these SSA countries. It is therefore suggested that policy makers should redesign feasible financial sector reforms that would establish sound economic linkages with existing key sectors in these SSA economies which would eventually translate into reduction in poverty level. Of particular importance is the sectoral allocation of credits to key sectors of the economy like energy sector, infrastructural sector, among others.

International journal of humanities and social science, 2013

Investment in education helps in human capital development in an effort to increase human knowled... more Investment in education helps in human capital development in an effort to increase human knowledge and enhance skills for increasing productivity and income of individual and the nation. Investment in Education is not only seen as a key to poverty reduction but also helps to supply the essential human capital. It is therefore, both individual and social investment. The shortage of academic human resource (human capital) in Nigerian education system and high poverty rate called for this study. This paper examines determinants, sources, problems and opportunities of investment in education in Nigeria. It as well examines the relationship between investment in education and human capital in Nigeria, using annual time series data from NUC and NBS. The study adopts a survey of Nigerian education system in the south west to examine the effect of family socio economic status on investment in education using purposive random sampling. The relationship between human capital and investment in education is determined using granger causality test. The study identifies the problems of investment in education as low level of investment in education by the federal government at a level (below 10%) far below 26% of annual budget recommended by UNESCO, limited educational opportunities for Nigerian youths below 20% up to 2009 and shortage of human and physical resources. The study reveals that human capital influences investments in education. The findings have a strong implication on educational policy in Nigeria and the study suggests increased investment in education by policy makers as a poverty alleviation policy and improvement in the nation's human capital development.

The study analysed the determinants of efficiency of government health expenditure in 3 selected ... more The study analysed the determinants of efficiency of government health expenditure in 3 selected Sub-Saharan African countries (Nigeria, Uganda and South Africa) with a view to identifying the health input most responsible for the inefficiency observed within their health sectors. It also examined the trend in efficiency change over the years in the countries and the effects of efficiency of government health expenditure on health outcomes within the study period. Secondary data were sourced from World Development Indicator (WDI) and from the officially released government budget documents of each country. The Stochastic Frontier Analysis (SFA) model with time-varying inefficiency effects technique was applied. The results showed that capital health expenditure efficiency in the 3 countries had improved significantly over the years while the recurrent health expenditure efficiency had not witnessed any significant improvement. It also showed that changes in infant survival rate were due to improvements in the capital health expenditure efficiency while the recurrent health expenditure efficiency had no statistically significant effect on changes in infant survival rate. The study therefore concluded that recurrent health expenditure compared to capital health expenditure has not resulted in improved health outcome of infant survival rate due to inefficiency in its usage; thus the governments in these 3 countries need to improve efficiency in its usage without International Journal of Economics, Commerce and Management, United Kingdom Licensed under Creative Common Page 141 having to increase current spending levels. This could be achieved through effective and appropriate training of health workforce superintended by well-constituted health regulatory bodies. This process will ensure thoroughness in the training process and strict compliance to standards and job ethics for higher performance.

The study examines the individual and joint effects of trade openness and financial openness on e... more The study examines the individual and joint effects of trade openness and financial openness on economic growth in sub-Saharan African (SSA) countries within the period 1980 and 2017. The SSA countries are divided into two broad categories-low income countries and middle-income countries. The dynamic panel analysis using the techniques of Difference Generalised Method of Moments (GMM) and system GMM were employed. Overall, the empirical findings on low income countries show that trade openness has significant positive impact on economic growth. However, financial openness and the joint trade and financial openness do not have significant positive impact on economic growth. In the case of middle-income countries, the effect of trade openness on economic growth is mixed. However, both financial openness and the joint trade and financial openness do not spur economic growth. Overall, there is no evidence of simultaneous openness hypothesis in SSA economies. Thus, while the economy is o...

International journal of humanities and social science, 2013

Investment in education helps in human capital development in an effort to increase human knowled... more Investment in education helps in human capital development in an effort to increase human knowledge and enhance skills for increasing productivity and income of individual and the nation. Investment in Education is not only seen as a key to poverty reduction but also helps to supply the essential human capital. It is therefore, both individual and social investment. The shortage of academic human resource (human capital) in Nigerian education system and high poverty rate called for this study. This paper examines determinants, sources, problems and opportunities of investment in education in Nigeria. It as well examines the relationship between investment in education and human capital in Nigeria, using annual time series data from NUC and NBS. The study adopts a survey of Nigerian education system in the south west to examine the effect of family socio economic status on investment in education using purposive random sampling. The relationship between human capital and investment i...

This paper investigates the causality among fiscal policy, economic growth and income inequality... more This paper investigates the causality among fiscal policy, economic growth and income inequality in some twenty six selected sub- African countries with a view to identifying the direction of causation among these variables; thus aiding the identification of policy choice variables whose impact could predict the behaviour of some other variables. This approach would ultimately provide solutions to income inequality and economic growth problems in sub-Saharan African countries. To achieve this objective, the sub-Saharan African countries were divided into three–low income countries, lower middle income countries and upper middle income countries. The methodology of multivariate Granger causality was applied to investigate the causality among fiscal policy, economic growth and income inequality variables. The findings show that in low income countries and lower middle income countries, no designable causality could be established among the three variables probably su...

Previous studies have examined the effect of financial sector development on manufacturing output... more Previous studies have examined the effect of financial sector development on manufacturing output growth without examining its effect on the disaggregated manufacturing output growth in Nigeria; hence, the present study filled this gap. The study employed Vector Autoregression (VAR) analysis to test whether or not financial sector variables stimulate the growth of output in manufacturing sector of the Nigerian economy, by maintaining interactions with some key macroeconomic variables in the Nigerian economy using annual data from 1986 to 2012. The study also applied unit root and Johansen cointegration tests to examine the behaviour of the macro data. The result suggests that relaxing financial development constraints and deepening the financial sector are crucial to boosting the manufacturing output growth in Nigeria. Copyright © 2015 JAEBR

The study analysed the determinants of efficiency of government health expenditure in 3 selected ... more The study analysed the determinants of efficiency of government health expenditure in 3 selected Sub-Saharan African countries (Nigeria, Uganda and South Africa) with a view to identifying the health input most responsible for the inefficiency observed within their health sectors. It also examined the trend in efficiency change over the years in the countries and the effects of efficiency of government health expenditure on health outcomes within the study period. Secondary data were sourced from World Development Indicator (WDI) and from the officially released government budget documents of each country. The Stochastic Frontier Analysis (SFA) model with time-varying inefficiency effects technique was applied. The results showed that capital health expenditure efficiency in the 3 countries had improved significantly over the years while the recurrent health expenditure efficiency had not witnessed any significant improvement. It also showed that changes in infant survival rate were...

High Oil price fluctuations have been a common feature in Nigeria and these have considerably con... more High Oil price fluctuations have been a common feature in Nigeria and these have considerably constituted a major source of fiscal policy disturbance to the Nigerian economy as well as the economies of other oil producing countries of the world. The over-reliance on oil production for income generation combined with local undiversified revenue and export bases is an issue for concern. This has policy implications for economic policy and in particular fiscal policy management. The motivation for this study is to examine the effect of oil price shock on fiscal policy in the country. Using structural vector autoregression (SVAR) methodology, the effects of crude oil price fluctuations on two major key fiscal policy variables (government expenditure (GEXP) and government revenue (GREV)), money supply (MS2) and GDP were examined. The results showed that oil prices have significant effect on fiscal policy in Nigeria within the study period of 1980:1 to 2009:4. The study also revealed that oil price shock affects GREV and GDP first before reflecting on fiscal expenditure. The study suggests strongly that diversification of the economy is necessary in order to minimize the consequences of oil price fluctuations on government revenue, by implication government expenditure planning in the country.

Journal of economics and sustainable development, 2015

This study specifically examines the relations among private investment, economic growth and pove... more This study specifically examines the relations among private investment, economic growth and poverty level in Nigeria and its two neighbouring sub-Saharan African (SSA) countries of Benin Republic and Cameroon between the periods 1985 and 2010. The study employed Vector Error Correction Model using data extracted from the World Development Indicators. The study revealed that the relationships among private investment, economic growth, and poverty level did not follow expected pattern in the three countries. The results in Benin Republic show that increase in private investment and reduction in poverty level rather than increase real GDP growth, reduced real GDP growth overtime while the results obtained for Cameroon and Nigeria show that increase in private investment increased poverty level and reduction in poverty level reduced private participation in business in Cameroon and Nigeria. The study suggests a weak relation between private investment and economic growth or poverty lev...

International Journal of Business and Economic Sciences Applied Research, 2020

Purpose: While the relationships between energy or electricity consumption and economic growth ar... more Purpose: While the relationships between energy or electricity consumption and economic growth are of great interest to economists, previous studies have not examined the dynamic effect of electricity production on industrial and agricultural output growth in Nigeria; this study attempts to fill the gap. This study thus investigates the dynamic effects of electricity production from renewable and non-renewable energy sources on industrial and agricultural output growth in Nigeria. Design/methodology/approach: This study disentangled electricity production by source - into renewable and non-renewable - and employed a Structural Vector Autoregressive (SVAR) and other time series econometrics analysis. Findings: This study found that electricity production from both sources has a slight impact on the growth of the Nigerian industrial and agricultural sectors. In addition, this study supports the existing claim that economic growth and energy are linked and thus disproves the neo-classi...

Asian Journal of Economics, Business and Accounting, 2020

The paper empirically examines the effects of selected macroeconomic variables on stock market re... more The paper empirically examines the effects of selected macroeconomic variables on stock market returns in Nigeria within the period 1985 and 2014 with a view to determining the macro-factors determining stock market returns in Nigeria. The Autoregressive Distributed Lag (ARDL) approach was employed to examine both the short and long-run effects of selected macroeconomic variables on stock market returns using annual time series data spanning 1985 to 2014. The findings show that both foreign direct investment inflows and external debt do not have significant impact on stock market returns in Nigeria while money supply and trade openness have significant positive effect on stock market returns in the long-run. The annual speed of adjustment towards equilibrium is 91 per cent. The causality results show two-way causality between the nominal stock market returns and foreign direct investment inflows, while one-way causality runs from nominal stock market returns to trade openness.

European Scientific Journal ESJ, 2020

This study empirically examined the relationships between institutional quality and inclusive gro... more This study empirically examined the relationships between institutional quality and inclusive growth as measured by the real GDP per person employed (RGDPE) in Nigeria. An Autoregressive Distributed Lag (ARDL) Bounds testing approach to cointegration was employed using annual secondary time series data from 1998 to 2017. The data were sourced from the Central Bank of Nigeria's statistical Bulletin, National Bureau of Statistics' final Accounts, IMF's International Financial Statistics (IFS) and Worldwide Governance Indicators (WGIs). The study concluded that institutional quality had a significant effect on inclusive growth in Nigeria. It is therefore recommended that institutional improvement beyond the present liberal democratic threshold is much needed to effectively harness the human capital resource base. The Nigerian government should adopt a labour-intensive development strategy such that poor active households are comprehensively integrated into productive activities for optimal value-chain finance-growth inclusiveness. This would address the protracted tripartite socioeconomic problems of poverty, inequality and unemployment in line with Lin's comparative advantage conforming hypothesis. e. This would enhance formulating and implementing employment growth-oriented policies that are compatible with the society's resources endowment and developmental goals.

British Journal of Education, Society & Behavioural Science, 2017

Background: Providing accessible and affordable healthcare services is a challenge for most devel... more Background: Providing accessible and affordable healthcare services is a challenge for most developing economies including Nigeria. Currently, about 25-50% of all sick children and adults in Nigeria do not receive needed healthcare, while about 100 million live below the poverty line. The general poor state of the nation's healthcare services, the excessive dependence and pressure on government for provision of health facilities have motivated the present study. This study was therefore designed to identify the determinants of healthcare demand pattern, with a focus on the role of health insurance among staff and students of selected universities in southwestern Nigeria. Methods: This study relies on cross-sectional data collected from four universities covering four states of Southwestern Nigeria namely:

International Journal of Education Economics and Development, 2010

The paper examined family background factors that affect students' academic achievement in instit... more The paper examined family background factors that affect students' academic achievement in institutions of higher learning in Nigeria. With the use of structured questionnaire, data were collected from 110 first-degree final year students using random sampling and analysed through multiple linear regression techniques. It was found that student's academic performance was positively influenced by student's parental level of education, maternal income level, age, income of the student and number of hours allocated for reading on daily basis. Those students who spent more hours reading their books daily were found performing better than those who spent lesser hours. The hypothesis that parental educational level impacted positive effects on students' academic performance was confirmed valid for the country while effects of parental occupation and parental income were mixed. The major finding of the paper was that higher educational attainment and income status of parents were essential factors contributing to high academic record of students of tertiary institutions. It was, therefore, recommended that policy that enforces higher education advancement for all parents should be enforced in Nigeria.

Journal of …, 2011

Effects of globalisation on economic growth in Nigeria were examined. The study methododology was... more Effects of globalisation on economic growth in Nigeria were examined. The study methododology was mainly Error Correction Mechanism. The findings revealed that globalisation has negative impact on economic growth in the long run, but positive in the short run. This suggests that while Nigeria participates in globalisation exercise, caution should be exercised in opening up all its growing sectors to international competition, so as not to permanently stiffen the growth of these sectors in the long run with its accompanied negative impacts on the economy

In this study, the impact of globalization on labor force utilization, proxied as employment, in ... more In this study, the impact of globalization on labor force utilization, proxied as employment, in Nigeria was addressed with a view to assessing the extent to which globalization has influenced the structure of development in Nigeria. To achieve this, Augmented Dickey Fuller (ADF) test, and cointegration test were performed to investigate the unit root problem and the long run relationship among variables respectively; also an Error Correction Methodology was applied with a view to capturing both the short run and long run dynamic adjustments in employment model. The findings that emerged from the analysis showed that globalization practice could generate negative impact on employment in both short-and long run periods suggesting that if globalization continues as being practiced, globalization could further worsen the extant decrepit state of unemployment in Nigeria other things being equal. It is therefore recommended that government should confront the imminent unavoidable negative effects of globalization with a well-designed policy mix.

IOSR Journal of Economics and Finance, 2016

The study examines the interactions among financial development, economic growth and poverty leve... more The study examines the interactions among financial development, economic growth and poverty level in twelve selected low-income sub-Sahara African countries (SSA) between1980 and 2012. The study employed annual data from 1980 to 2012 obtained from World Bank Development Indicators (WDI). Cointegration test was applied to determine the long run relationship among these three key variables while panel vector autoregression Model analysis was conducted to examine the dynamic interactions among financial development, economic growth and poverty level with particular reference to economic growth as a channel linking financial development and poverty. The evidence obtained in this study shows that increase in financial development reduces economic growth and ultimately increases poverty level in low income countries. This suggests that economic growth is a weak channel connecting financial development and poverty level in all these SSA countries. It is therefore suggested that policy makers should redesign feasible financial sector reforms that would establish sound economic linkages with existing key sectors in these SSA economies which would eventually translate into reduction in poverty level. Of particular importance is the sectoral allocation of credits to key sectors of the economy like energy sector, infrastructural sector, among others.

IOSR Journal of Economics and Finance, Apr 1, 2016

The study examines the interactions among financial development, economic growth and poverty leve... more The study examines the interactions among financial development, economic growth and poverty level in twelve selected low-income sub-Sahara African countries (SSA) between1980 and 2012. The study employed annual data from 1980 to 2012 obtained from World Bank Development Indicators (WDI). Cointegration test was applied to determine the long run relationship among these three key variables while panel vector autoregression Model analysis was conducted to examine the dynamic interactions among financial development, economic growth and poverty level with particular reference to economic growth as a channel linking financial development and poverty. The evidence obtained in this study shows that increase in financial development reduces economic growth and ultimately increases poverty level in low income countries. This suggests that economic growth is a weak channel connecting financial development and poverty level in all these SSA countries. It is therefore suggested that policy makers should redesign feasible financial sector reforms that would establish sound economic linkages with existing key sectors in these SSA economies which would eventually translate into reduction in poverty level. Of particular importance is the sectoral allocation of credits to key sectors of the economy like energy sector, infrastructural sector, among others.

International journal of humanities and social science, 2013

Investment in education helps in human capital development in an effort to increase human knowled... more Investment in education helps in human capital development in an effort to increase human knowledge and enhance skills for increasing productivity and income of individual and the nation. Investment in Education is not only seen as a key to poverty reduction but also helps to supply the essential human capital. It is therefore, both individual and social investment. The shortage of academic human resource (human capital) in Nigerian education system and high poverty rate called for this study. This paper examines determinants, sources, problems and opportunities of investment in education in Nigeria. It as well examines the relationship between investment in education and human capital in Nigeria, using annual time series data from NUC and NBS. The study adopts a survey of Nigerian education system in the south west to examine the effect of family socio economic status on investment in education using purposive random sampling. The relationship between human capital and investment in education is determined using granger causality test. The study identifies the problems of investment in education as low level of investment in education by the federal government at a level (below 10%) far below 26% of annual budget recommended by UNESCO, limited educational opportunities for Nigerian youths below 20% up to 2009 and shortage of human and physical resources. The study reveals that human capital influences investments in education. The findings have a strong implication on educational policy in Nigeria and the study suggests increased investment in education by policy makers as a poverty alleviation policy and improvement in the nation's human capital development.

The study analysed the determinants of efficiency of government health expenditure in 3 selected ... more The study analysed the determinants of efficiency of government health expenditure in 3 selected Sub-Saharan African countries (Nigeria, Uganda and South Africa) with a view to identifying the health input most responsible for the inefficiency observed within their health sectors. It also examined the trend in efficiency change over the years in the countries and the effects of efficiency of government health expenditure on health outcomes within the study period. Secondary data were sourced from World Development Indicator (WDI) and from the officially released government budget documents of each country. The Stochastic Frontier Analysis (SFA) model with time-varying inefficiency effects technique was applied. The results showed that capital health expenditure efficiency in the 3 countries had improved significantly over the years while the recurrent health expenditure efficiency had not witnessed any significant improvement. It also showed that changes in infant survival rate were due to improvements in the capital health expenditure efficiency while the recurrent health expenditure efficiency had no statistically significant effect on changes in infant survival rate. The study therefore concluded that recurrent health expenditure compared to capital health expenditure has not resulted in improved health outcome of infant survival rate due to inefficiency in its usage; thus the governments in these 3 countries need to improve efficiency in its usage without International Journal of Economics, Commerce and Management, United Kingdom Licensed under Creative Common Page 141 having to increase current spending levels. This could be achieved through effective and appropriate training of health workforce superintended by well-constituted health regulatory bodies. This process will ensure thoroughness in the training process and strict compliance to standards and job ethics for higher performance.

The study examines the individual and joint effects of trade openness and financial openness on e... more The study examines the individual and joint effects of trade openness and financial openness on economic growth in sub-Saharan African (SSA) countries within the period 1980 and 2017. The SSA countries are divided into two broad categories-low income countries and middle-income countries. The dynamic panel analysis using the techniques of Difference Generalised Method of Moments (GMM) and system GMM were employed. Overall, the empirical findings on low income countries show that trade openness has significant positive impact on economic growth. However, financial openness and the joint trade and financial openness do not have significant positive impact on economic growth. In the case of middle-income countries, the effect of trade openness on economic growth is mixed. However, both financial openness and the joint trade and financial openness do not spur economic growth. Overall, there is no evidence of simultaneous openness hypothesis in SSA economies. Thus, while the economy is o...

International journal of humanities and social science, 2013

Investment in education helps in human capital development in an effort to increase human knowled... more Investment in education helps in human capital development in an effort to increase human knowledge and enhance skills for increasing productivity and income of individual and the nation. Investment in Education is not only seen as a key to poverty reduction but also helps to supply the essential human capital. It is therefore, both individual and social investment. The shortage of academic human resource (human capital) in Nigerian education system and high poverty rate called for this study. This paper examines determinants, sources, problems and opportunities of investment in education in Nigeria. It as well examines the relationship between investment in education and human capital in Nigeria, using annual time series data from NUC and NBS. The study adopts a survey of Nigerian education system in the south west to examine the effect of family socio economic status on investment in education using purposive random sampling. The relationship between human capital and investment i...

This paper investigates the causality among fiscal policy, economic growth and income inequality... more This paper investigates the causality among fiscal policy, economic growth and income inequality in some twenty six selected sub- African countries with a view to identifying the direction of causation among these variables; thus aiding the identification of policy choice variables whose impact could predict the behaviour of some other variables. This approach would ultimately provide solutions to income inequality and economic growth problems in sub-Saharan African countries. To achieve this objective, the sub-Saharan African countries were divided into three–low income countries, lower middle income countries and upper middle income countries. The methodology of multivariate Granger causality was applied to investigate the causality among fiscal policy, economic growth and income inequality variables. The findings show that in low income countries and lower middle income countries, no designable causality could be established among the three variables probably su...

Previous studies have examined the effect of financial sector development on manufacturing output... more Previous studies have examined the effect of financial sector development on manufacturing output growth without examining its effect on the disaggregated manufacturing output growth in Nigeria; hence, the present study filled this gap. The study employed Vector Autoregression (VAR) analysis to test whether or not financial sector variables stimulate the growth of output in manufacturing sector of the Nigerian economy, by maintaining interactions with some key macroeconomic variables in the Nigerian economy using annual data from 1986 to 2012. The study also applied unit root and Johansen cointegration tests to examine the behaviour of the macro data. The result suggests that relaxing financial development constraints and deepening the financial sector are crucial to boosting the manufacturing output growth in Nigeria. Copyright © 2015 JAEBR

The study analysed the determinants of efficiency of government health expenditure in 3 selected ... more The study analysed the determinants of efficiency of government health expenditure in 3 selected Sub-Saharan African countries (Nigeria, Uganda and South Africa) with a view to identifying the health input most responsible for the inefficiency observed within their health sectors. It also examined the trend in efficiency change over the years in the countries and the effects of efficiency of government health expenditure on health outcomes within the study period. Secondary data were sourced from World Development Indicator (WDI) and from the officially released government budget documents of each country. The Stochastic Frontier Analysis (SFA) model with time-varying inefficiency effects technique was applied. The results showed that capital health expenditure efficiency in the 3 countries had improved significantly over the years while the recurrent health expenditure efficiency had not witnessed any significant improvement. It also showed that changes in infant survival rate were...

High Oil price fluctuations have been a common feature in Nigeria and these have considerably con... more High Oil price fluctuations have been a common feature in Nigeria and these have considerably constituted a major source of fiscal policy disturbance to the Nigerian economy as well as the economies of other oil producing countries of the world. The over-reliance on oil production for income generation combined with local undiversified revenue and export bases is an issue for concern. This has policy implications for economic policy and in particular fiscal policy management. The motivation for this study is to examine the effect of oil price shock on fiscal policy in the country. Using structural vector autoregression (SVAR) methodology, the effects of crude oil price fluctuations on two major key fiscal policy variables (government expenditure (GEXP) and government revenue (GREV)), money supply (MS2) and GDP were examined. The results showed that oil prices have significant effect on fiscal policy in Nigeria within the study period of 1980:1 to 2009:4. The study also revealed that oil price shock affects GREV and GDP first before reflecting on fiscal expenditure. The study suggests strongly that diversification of the economy is necessary in order to minimize the consequences of oil price fluctuations on government revenue, by implication government expenditure planning in the country.

Journal of economics and sustainable development, 2015

This study specifically examines the relations among private investment, economic growth and pove... more This study specifically examines the relations among private investment, economic growth and poverty level in Nigeria and its two neighbouring sub-Saharan African (SSA) countries of Benin Republic and Cameroon between the periods 1985 and 2010. The study employed Vector Error Correction Model using data extracted from the World Development Indicators. The study revealed that the relationships among private investment, economic growth, and poverty level did not follow expected pattern in the three countries. The results in Benin Republic show that increase in private investment and reduction in poverty level rather than increase real GDP growth, reduced real GDP growth overtime while the results obtained for Cameroon and Nigeria show that increase in private investment increased poverty level and reduction in poverty level reduced private participation in business in Cameroon and Nigeria. The study suggests a weak relation between private investment and economic growth or poverty lev...

International Journal of Business and Economic Sciences Applied Research, 2020

Purpose: While the relationships between energy or electricity consumption and economic growth ar... more Purpose: While the relationships between energy or electricity consumption and economic growth are of great interest to economists, previous studies have not examined the dynamic effect of electricity production on industrial and agricultural output growth in Nigeria; this study attempts to fill the gap. This study thus investigates the dynamic effects of electricity production from renewable and non-renewable energy sources on industrial and agricultural output growth in Nigeria. Design/methodology/approach: This study disentangled electricity production by source - into renewable and non-renewable - and employed a Structural Vector Autoregressive (SVAR) and other time series econometrics analysis. Findings: This study found that electricity production from both sources has a slight impact on the growth of the Nigerian industrial and agricultural sectors. In addition, this study supports the existing claim that economic growth and energy are linked and thus disproves the neo-classi...

Asian Journal of Economics, Business and Accounting, 2020

The paper empirically examines the effects of selected macroeconomic variables on stock market re... more The paper empirically examines the effects of selected macroeconomic variables on stock market returns in Nigeria within the period 1985 and 2014 with a view to determining the macro-factors determining stock market returns in Nigeria. The Autoregressive Distributed Lag (ARDL) approach was employed to examine both the short and long-run effects of selected macroeconomic variables on stock market returns using annual time series data spanning 1985 to 2014. The findings show that both foreign direct investment inflows and external debt do not have significant impact on stock market returns in Nigeria while money supply and trade openness have significant positive effect on stock market returns in the long-run. The annual speed of adjustment towards equilibrium is 91 per cent. The causality results show two-way causality between the nominal stock market returns and foreign direct investment inflows, while one-way causality runs from nominal stock market returns to trade openness.

European Scientific Journal ESJ, 2020

This study empirically examined the relationships between institutional quality and inclusive gro... more This study empirically examined the relationships between institutional quality and inclusive growth as measured by the real GDP per person employed (RGDPE) in Nigeria. An Autoregressive Distributed Lag (ARDL) Bounds testing approach to cointegration was employed using annual secondary time series data from 1998 to 2017. The data were sourced from the Central Bank of Nigeria's statistical Bulletin, National Bureau of Statistics' final Accounts, IMF's International Financial Statistics (IFS) and Worldwide Governance Indicators (WGIs). The study concluded that institutional quality had a significant effect on inclusive growth in Nigeria. It is therefore recommended that institutional improvement beyond the present liberal democratic threshold is much needed to effectively harness the human capital resource base. The Nigerian government should adopt a labour-intensive development strategy such that poor active households are comprehensively integrated into productive activities for optimal value-chain finance-growth inclusiveness. This would address the protracted tripartite socioeconomic problems of poverty, inequality and unemployment in line with Lin's comparative advantage conforming hypothesis. e. This would enhance formulating and implementing employment growth-oriented policies that are compatible with the society's resources endowment and developmental goals.

British Journal of Education, Society & Behavioural Science, 2017

Background: Providing accessible and affordable healthcare services is a challenge for most devel... more Background: Providing accessible and affordable healthcare services is a challenge for most developing economies including Nigeria. Currently, about 25-50% of all sick children and adults in Nigeria do not receive needed healthcare, while about 100 million live below the poverty line. The general poor state of the nation's healthcare services, the excessive dependence and pressure on government for provision of health facilities have motivated the present study. This study was therefore designed to identify the determinants of healthcare demand pattern, with a focus on the role of health insurance among staff and students of selected universities in southwestern Nigeria. Methods: This study relies on cross-sectional data collected from four universities covering four states of Southwestern Nigeria namely:

International Journal of Education Economics and Development, 2010

The paper examined family background factors that affect students' academic achievement in instit... more The paper examined family background factors that affect students' academic achievement in institutions of higher learning in Nigeria. With the use of structured questionnaire, data were collected from 110 first-degree final year students using random sampling and analysed through multiple linear regression techniques. It was found that student's academic performance was positively influenced by student's parental level of education, maternal income level, age, income of the student and number of hours allocated for reading on daily basis. Those students who spent more hours reading their books daily were found performing better than those who spent lesser hours. The hypothesis that parental educational level impacted positive effects on students' academic performance was confirmed valid for the country while effects of parental occupation and parental income were mixed. The major finding of the paper was that higher educational attainment and income status of parents were essential factors contributing to high academic record of students of tertiary institutions. It was, therefore, recommended that policy that enforces higher education advancement for all parents should be enforced in Nigeria.

Journal of …, 2011

Effects of globalisation on economic growth in Nigeria were examined. The study methododology was... more Effects of globalisation on economic growth in Nigeria were examined. The study methododology was mainly Error Correction Mechanism. The findings revealed that globalisation has negative impact on economic growth in the long run, but positive in the short run. This suggests that while Nigeria participates in globalisation exercise, caution should be exercised in opening up all its growing sectors to international competition, so as not to permanently stiffen the growth of these sectors in the long run with its accompanied negative impacts on the economy

In this study, the impact of globalization on labor force utilization, proxied as employment, in ... more In this study, the impact of globalization on labor force utilization, proxied as employment, in Nigeria was addressed with a view to assessing the extent to which globalization has influenced the structure of development in Nigeria. To achieve this, Augmented Dickey Fuller (ADF) test, and cointegration test were performed to investigate the unit root problem and the long run relationship among variables respectively; also an Error Correction Methodology was applied with a view to capturing both the short run and long run dynamic adjustments in employment model. The findings that emerged from the analysis showed that globalization practice could generate negative impact on employment in both short-and long run periods suggesting that if globalization continues as being practiced, globalization could further worsen the extant decrepit state of unemployment in Nigeria other things being equal. It is therefore recommended that government should confront the imminent unavoidable negative effects of globalization with a well-designed policy mix.

IOSR Journal of Economics and Finance, 2016

The study examines the interactions among financial development, economic growth and poverty leve... more The study examines the interactions among financial development, economic growth and poverty level in twelve selected low-income sub-Sahara African countries (SSA) between1980 and 2012. The study employed annual data from 1980 to 2012 obtained from World Bank Development Indicators (WDI). Cointegration test was applied to determine the long run relationship among these three key variables while panel vector autoregression Model analysis was conducted to examine the dynamic interactions among financial development, economic growth and poverty level with particular reference to economic growth as a channel linking financial development and poverty. The evidence obtained in this study shows that increase in financial development reduces economic growth and ultimately increases poverty level in low income countries. This suggests that economic growth is a weak channel connecting financial development and poverty level in all these SSA countries. It is therefore suggested that policy makers should redesign feasible financial sector reforms that would establish sound economic linkages with existing key sectors in these SSA economies which would eventually translate into reduction in poverty level. Of particular importance is the sectoral allocation of credits to key sectors of the economy like energy sector, infrastructural sector, among others.