Gideon Goshit - Academia.edu (original) (raw)

Papers by Gideon Goshit

Lwati: a journal of contemporary research, 2014

Monetary authorities have increasingly focused on implementing policies to ensure price stability... more Monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence in both developed and developing economies. However, in developing countries (Nigeria inclusive), monetary `policy alone is ineffective in directing the economy towards the stated macroeconomic objectives of domestic output growth, price stability, high employment level, sustainable balance of payments equilibrium, equitable income distribution and poverty reduction. On the other hand, in the area of fiscal, market development has allowed public debt managers to focus more on cost minimization. This 'divorce' of monetary and debt management functions calls for the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. Therefore an appropriate combination of monetary and fiscal policy mix is crucial for macroeconomic management. This paper employs theoretical technique to analyze monetary and fiscal policy interactions in Nigeria. The paper also surveyed the limitations of both monetary and fiscal policies in a developing economy especially in Nigeria. It analyses the interaction between monetary and fiscal policies, stressing the need for policy coordination in the economy. The paper opines that effective coordination of monetary and fiscal policies without any loss of independence for the policy makers enhances the overall macroeconomic performance of monetary and fiscal policies in the economy.

Lwati: a journal of contemporary research, 2012

Monetary policy is a key element of macroeconomic management and its effectiveness is crucial to ... more Monetary policy is a key element of macroeconomic management and its effectiveness is crucial to the overall economic performance of a country. Therefore, the role of monetary policy in ensuring sustainable macroeconomic stability and output growth is crucial to economic development. This explains why efforts are usually made by every economy to enhance the techniques and content of monetary policy. In Nigeria, monetary management has undergone several changes (reforms) since the inception of the Central Bank of Nigeria (CBN). These changes could be grouped broadly into two, namely, those changes which took place when monetary management was largely based on direct controls and those changes which took place in the process of moving away from such controls. The second category of changes, which started to evolve since the adoption of the Structural Adjustment Programme (SAP) is the focus of this paper. The paper investigates the impact of indirect monetary policy reforms on output growth in Nigeria between 1986 and 2009. The methodology employed was the co-integration analysis and the Ordinary Least Squares (OLS). To characterize the time series property of the variables, the Augmented Dickey-Fuller (ADF) test was employed. A causality test performed on the models show that there was a-two-way causality between money supply and output growth during the reform period in Nigeria. The adjusted coefficient of determination (R 2) = 0.65 indicates that over 65% changes in the real GDP (RGDP), are explained by changes in the monetary policy variables. However, the result points to the fact that indirect monetary policy instruments have not been effective in stimulating the growth of output in Nigeria during the reform period.The paper submits that for indirect monetary policy instruments to be effective in influencing output growth, the banking sector of the economy also needs to be repositioned to be able to respond positively to the challenges of the conduct of monetary policy, particularly in compliance with the CBN requirements regarding the Central Bank discount rate (CBDR), bank liquidity ratio (BLQR), and bank reserve requirement in the economy (BRRE). The efforts in repositioning these banks through Indirect Monetary Policy Reforms and Output Growth in Nigeria 19 the current banking reforms (recapitalization and consolidation) the paper notes are a right step in the right direction.

Journal of Public Affairs, 2020

Given the importance of output growth in Nigeria and the need for monetary policy decisions to be... more Given the importance of output growth in Nigeria and the need for monetary policy decisions to be guided by the knowledge of the asymmetric effects of positive and negative monetary policy shocks, this study investigates the asymmetric effects of monetary policy shocks on output growth in Nigeria using quarterly data from 1981Q1 to 2018Q4. The study employs the recently developed Lee and Strazicich unit root test with structural breaks, Nonlinear ARDL, and the Hatemi-J causality tests. The result reveals the presence of long-run and short-run asymmetries in the effect of monetary policy shocks on output growth in Nigeria. The results of the long-run effect show that both positive and negative monetary policy rate shocks have positive, elastic, and statistically significant effect on output growth. For the short-run, the results indicate that the effect of negative monetary policy shocks dominate the effects of positive monetary policy rate shocks, while the effect of positive money supply shocks dominates the effect of negative money supply shocks. Furthermore, the study finds evidence in support of the expansionary monetary policy in the long-run. Hence, the recommendations for expansionary monetary policy decision to enhance output growth.

African Development Review, 2020

This study investigates the nexus between renewable energy consumption and environmental quality ... more This study investigates the nexus between renewable energy consumption and environmental quality in Nigeria, accounting for the role of financial development, and re‐examines the validity of the environmental Kuznet curve (EKC) hypothesis for Nigeria covering the period 1990 to 2016. To cover financial development more adequately, the current study uses the broad‐based financial development index constructed by the International Monetary Fund. The study employs second generation econometric approaches of Lee and Strazicich, and Bayer and Hanck combined cointegration tests to check for stationarity and cointegration among the variables, and then applies autoregressive distributed lag (ARDL) and vector error correction model (VECM) Granger causality tests to explore the effect and causal relationship respectively. The results divulge that renewable energy consumption improves environmental quality, while financial development hurts the environment. Further, the results validate an inverted U‐shaped association between economic growth and environmental degradation in Nigeria. The VECM Granger causality results indicate a long‐run effect of the independent variables on CO2 emission, while the short‐run causality reveals a mixture of unidirectional and bidirectional causality among the variables. This study therefore recommends that policy makers consider the important roles of renewable energy and financial development in reforming energy policies to achieve environmental sustainability.

International Journal of Academic Research in Business and Social Sciences, 2016

The paper examines the effectiveness of indirect monetary policy instruments in reducing poverty ... more The paper examines the effectiveness of indirect monetary policy instruments in reducing poverty in Nigeria using a multiple regression model as well as time series data covering the period 1986 to 2012. The Ordinary Least Squares (OLS) technique was used in the estimation of the regression model. The OLS regression result revealed that interest rate (INTR), banking sector's credit to the economy (BSCE), bank reserve requirement (BARR), bank liquidity ratio (BLQR), central bank discount rate (CBDR) and inflation rate (INFR) could not significantly impact on poverty rate except money supply (MS), real gross domestic product (RGDP), unemployment rate (UNEMPR) and balance of payment (BOP). A major implication of this result is that indirect monetary policy instruments alone were grossly inadequate measure/policy to reduce poverty in Nigeria during the period under review. The paper therefore recommends that in addition to combining monetary policy with other economic policies (fiscal, income policies) etc to fight poverty in Nigeria, the monetary authorities as a matter of obligation must strengthens banking rules and regulations to enhance compliance with CBN's rules and directives by commercial banks in order to further facilitate and enhance the effectiveness of monetary policy instruments in the economy in order to influence poverty reduction in Nigeria.

African Research Review, 2013

The ECOWAS Monetary Cooperation Progamme (EMCP) was designed to facilitate regional trade through... more The ECOWAS Monetary Cooperation Progamme (EMCP) was designed to facilitate regional trade through improvement in the ECOWAS multilateral payments system, the harmonization of economic policies and evolvement of common institutional arrangements. However, the EMCP, adopted in Abuja in 1987, has not recorded the desired progress. This paper is a theoretical survey of the factors that have inhibited the progress of monetary integration in the ECOWAS. Although monetary integration in the ECOWAS is envisaged to increase intra-trade among member countries, facilitate the establishment of a single capital market, improve macroeconomic policy coordination, strengthens common monetary authority, encourage freedom of movement of persons and also lead to market enlargement, it is not without challenges. The paper notes that the major challenges hindering the monetary integration process in the ECOWAS include; low intra-trade among member countries, fear of domination by the larger, wealthier and Copyright© IAARR 2013: www.afrrevjo.net 82 Indexed African Journals Online: www.ajol.info stronger countries, loss of revenue, uneven distribution of the benefits of integration, political instability, ethnic and religious crises and lack of political will and commitment on the part of member countries among other factors. The paper therefore, submits that the encouragement of intra-trade within the ECOWAS sub-region, massive investment in transport and communication infrastructures within the region, and improved government political will and commitment to implementing the monetary integration agreements would foster effective monetary integration in the ECOWAS for maximum benefits of all members.

Journal of economics and sustainable development, 2015

This paper offers a theoretical perspective on how monetary policy can enhance inclusive growth i... more This paper offers a theoretical perspective on how monetary policy can enhance inclusive growth in the economy through the Central Bank of Nigeria (CBN). The ultimate objective of monetary policy is to promote sound economic performance and high living standards of the citizens. This makes monetary policy a key element of macroeconomic management and its effectiveness is crucial to the overall economic performance of Nigeria. The paper constructed a theoretical model for inclusive growth in Nigeria and provides the drivers of inclusive growth in the economy. It also identified and discussed major challenges to the conduct and implementation of monetary policy in Nigeria which undermine the effectiveness of monetary policy to include non-monetized Nigerian rural sector, underdeveloped money and capital markets, and large quantity of money outside the banking system. Others include poor data quality, proliferation of illegal financial houses, and poor banking habits in the economy. Th...

Journal of Public Affairs, 2020

Frontiers in Cellular Neuroscience, 2020

Cyclin-dependent kinase 5 (Cdk5) is a serine/threonine kinase that is activated by the neuron-spe... more Cyclin-dependent kinase 5 (Cdk5) is a serine/threonine kinase that is activated by the neuron-specific activators p35/p39 and plays important roles in neuronal development, synaptic plasticity, and cognitive behavior. However, the proteolytic cleavage of p35 to p25 leads to prolonged and aberrant Cdk5 activation and results in synaptic depression, highly mimicking the early pathology of Alzheimer's disease (AD). Therefore, Cdk5 inhibition is a potential promising strategy for AD drug development. Here in the present study, we showed that metformin, the most widely used drug for type 2 diabetes, suppressed Cdk5 hyper-activation and Cdk5-dependent tau hyperphosphorylation in the APP/PS1 mouse hippocampus. We also identified the underlying molecular and cellular mechanism that metformin prevented Cdk5 hyper-activation by inhibiting the calpain-dependent cleavage of p35 into p25. Moreover, chronic metformin treatment rescued the core phenotypes in APP/PS1 mice as evidenced by restored spine density, surface GluA1 trafficking, Long-term potentiation (LTP) expression, and spatial memory. Altogether our study discovered an unidentified role of metformin in suppressing Cdk5 hyper-activation and thus preventing AD pathogenesis and suggested that metformin is a potential promising AD therapeutic drug.

Journal of Mining Science, 1992

The results of an experimental investigation of the strain hardening of steel 12KhNZA,* which wer... more The results of an experimental investigation of the strain hardening of steel 12KhNZA,* which were obtained during the testing of thin-wall tubular specimens subjected to biaxial tension accompanied by partial unloading with hardening are cited. The load paths were three-and multiple-member broken lines. The effect of the second segment and its length over which forward and backward motion is accomplished on the subsequent character of the material's hardening are addressed. The laws obtained for the deformation are analyzed from positions of an alternate scheme of the theory of plasticity of an anisotropically hardening medium [ 1-3]. The laws governing the inelastic deformation of a material under loading accompanied by partial unloading in one of the directions of preliminary plastic deformation are investigated experimentally. The concept of partial unloading was introduced in [ 1, 2]; this is the intermediate process between active loading and complete unloading, when the sites of influence of the principal tangential stresses T, T12, and T23 t t 1 T-~-(~1-%), r, = g ((rl-o2), r2~ = 2-((r,-%), where el, a2, and a 3 are principal stresses) increase on some systems, and decrease on others. Elastic deformation beyond the yield point in one of the directions of the preliminary plastic deformation, the so-called "partial unloading with hardening," is possible in this state. Cases of loading along paths in the form of two-member broken lines with different fracture angles were studied in detail in [4-6]. The load paths considered in this paper are three-and multiple-member broken lines; the first segment is axial tension, while the second is incomplete loading under a constant or insignificant varying axial stress ((rz) and increasing circumferential stress (%). A backward motion was then followed along the second segment in a state of axial tension, while the final segment was loading with an incomplete-loading parameter tZAa = 3 [1, 2]: 2A~ 2-A~ 1-,A% (1) ~.la~ ~ A(~ 1-A% ' where hal, Aa2, and Aa 3 are the increases in the principal stresses. We investigated the effect of the length of the second segment on the character of material hardening on the final segment; the length of the second segment was: a) a z > (re; b) a z = (rq,; c) (re > az" The experimental results are set forth in conformity with the representations of the material model [ 1-3] in which plastic deformation is treated as a sequence of shears on the sites of influence of the principal tangential stresses T, T12, and "1"23. The experiments discussed in the paper were conducted on an Instron-1275 testing machine at the Institute of Polymer Mechanics, Academy of Sciences of the USSR, and the material was steel 12KhNZA. *Steel 12KhNZA is widely used in mine-machine building for the fabrication of heavily loaded components operating under dynamic and static loads.

KIU Journal of Social Sciences, Apr 21, 2021

JOURNAL OF ECONOMIC AND FINANCIAL ISSUES, 2018

The trend of price movements in Nigeria has been a fluctuating one showing wide gaps between the ... more The trend of price movements in Nigeria has been a fluctuating one showing wide gaps between the target and actual rates of inflation. This development is not only worrisome but it also creates uncertainties in the economy, weakens investors' confidence and affects expectations which are mainly adaptive.This study, therefore, attempted a forecast of the short term inflation rate in Nigeria using the autoregressive integrated moving average (ARIMA) and the artificial neural network (ANN) models to forecast the monthly rate of inflation. The aim is to compare the predictive ability of the two forecasting models and conduct inflation forecast up to December, 2018. The study found that ANN has higher predictive or forecasting ability compared to ARIMA (1 1 1). Also, the results of the forecasted monthly inflation for 2018 showed that inflation rate will be slightly lower in the early months but, again, rise marginally in the later months. The study, therefore, recommends that monetary authorities should think in the direction of using Artificial Neural Networks (ANN) in conducting short-term inflation forecasts in Nigeria.

Lwati: a journal of contemporary research, 2014

Monetary authorities have increasingly focused on implementing policies to ensure price stability... more Monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence in both developed and developing economies. However, in developing countries (Nigeria inclusive), monetary `policy alone is ineffective in directing the economy towards the stated macroeconomic objectives of domestic output growth, price stability, high employment level, sustainable balance of payments equilibrium, equitable income distribution and poverty reduction. On the other hand, in the area of fiscal, market development has allowed public debt managers to focus more on cost minimization. This 'divorce' of monetary and debt management functions calls for the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. Therefore an appropriate combination of monetary and fiscal policy mix is crucial for macroeconomic management. This paper employs theoretical technique to analyze monetary and fiscal policy interactions in Nigeria. The paper also surveyed the limitations of both monetary and fiscal policies in a developing economy especially in Nigeria. It analyses the interaction between monetary and fiscal policies, stressing the need for policy coordination in the economy. The paper opines that effective coordination of monetary and fiscal policies without any loss of independence for the policy makers enhances the overall macroeconomic performance of monetary and fiscal policies in the economy.

Lwati: a journal of contemporary research, 2012

Monetary policy is a key element of macroeconomic management and its effectiveness is crucial to ... more Monetary policy is a key element of macroeconomic management and its effectiveness is crucial to the overall economic performance of a country. Therefore, the role of monetary policy in ensuring sustainable macroeconomic stability and output growth is crucial to economic development. This explains why efforts are usually made by every economy to enhance the techniques and content of monetary policy. In Nigeria, monetary management has undergone several changes (reforms) since the inception of the Central Bank of Nigeria (CBN). These changes could be grouped broadly into two, namely, those changes which took place when monetary management was largely based on direct controls and those changes which took place in the process of moving away from such controls. The second category of changes, which started to evolve since the adoption of the Structural Adjustment Programme (SAP) is the focus of this paper. The paper investigates the impact of indirect monetary policy reforms on output growth in Nigeria between 1986 and 2009. The methodology employed was the co-integration analysis and the Ordinary Least Squares (OLS). To characterize the time series property of the variables, the Augmented Dickey-Fuller (ADF) test was employed. A causality test performed on the models show that there was a-two-way causality between money supply and output growth during the reform period in Nigeria. The adjusted coefficient of determination (R 2) = 0.65 indicates that over 65% changes in the real GDP (RGDP), are explained by changes in the monetary policy variables. However, the result points to the fact that indirect monetary policy instruments have not been effective in stimulating the growth of output in Nigeria during the reform period.The paper submits that for indirect monetary policy instruments to be effective in influencing output growth, the banking sector of the economy also needs to be repositioned to be able to respond positively to the challenges of the conduct of monetary policy, particularly in compliance with the CBN requirements regarding the Central Bank discount rate (CBDR), bank liquidity ratio (BLQR), and bank reserve requirement in the economy (BRRE). The efforts in repositioning these banks through Indirect Monetary Policy Reforms and Output Growth in Nigeria 19 the current banking reforms (recapitalization and consolidation) the paper notes are a right step in the right direction.

Journal of Public Affairs, 2020

Given the importance of output growth in Nigeria and the need for monetary policy decisions to be... more Given the importance of output growth in Nigeria and the need for monetary policy decisions to be guided by the knowledge of the asymmetric effects of positive and negative monetary policy shocks, this study investigates the asymmetric effects of monetary policy shocks on output growth in Nigeria using quarterly data from 1981Q1 to 2018Q4. The study employs the recently developed Lee and Strazicich unit root test with structural breaks, Nonlinear ARDL, and the Hatemi-J causality tests. The result reveals the presence of long-run and short-run asymmetries in the effect of monetary policy shocks on output growth in Nigeria. The results of the long-run effect show that both positive and negative monetary policy rate shocks have positive, elastic, and statistically significant effect on output growth. For the short-run, the results indicate that the effect of negative monetary policy shocks dominate the effects of positive monetary policy rate shocks, while the effect of positive money supply shocks dominates the effect of negative money supply shocks. Furthermore, the study finds evidence in support of the expansionary monetary policy in the long-run. Hence, the recommendations for expansionary monetary policy decision to enhance output growth.

African Development Review, 2020

This study investigates the nexus between renewable energy consumption and environmental quality ... more This study investigates the nexus between renewable energy consumption and environmental quality in Nigeria, accounting for the role of financial development, and re‐examines the validity of the environmental Kuznet curve (EKC) hypothesis for Nigeria covering the period 1990 to 2016. To cover financial development more adequately, the current study uses the broad‐based financial development index constructed by the International Monetary Fund. The study employs second generation econometric approaches of Lee and Strazicich, and Bayer and Hanck combined cointegration tests to check for stationarity and cointegration among the variables, and then applies autoregressive distributed lag (ARDL) and vector error correction model (VECM) Granger causality tests to explore the effect and causal relationship respectively. The results divulge that renewable energy consumption improves environmental quality, while financial development hurts the environment. Further, the results validate an inverted U‐shaped association between economic growth and environmental degradation in Nigeria. The VECM Granger causality results indicate a long‐run effect of the independent variables on CO2 emission, while the short‐run causality reveals a mixture of unidirectional and bidirectional causality among the variables. This study therefore recommends that policy makers consider the important roles of renewable energy and financial development in reforming energy policies to achieve environmental sustainability.

International Journal of Academic Research in Business and Social Sciences, 2016

The paper examines the effectiveness of indirect monetary policy instruments in reducing poverty ... more The paper examines the effectiveness of indirect monetary policy instruments in reducing poverty in Nigeria using a multiple regression model as well as time series data covering the period 1986 to 2012. The Ordinary Least Squares (OLS) technique was used in the estimation of the regression model. The OLS regression result revealed that interest rate (INTR), banking sector's credit to the economy (BSCE), bank reserve requirement (BARR), bank liquidity ratio (BLQR), central bank discount rate (CBDR) and inflation rate (INFR) could not significantly impact on poverty rate except money supply (MS), real gross domestic product (RGDP), unemployment rate (UNEMPR) and balance of payment (BOP). A major implication of this result is that indirect monetary policy instruments alone were grossly inadequate measure/policy to reduce poverty in Nigeria during the period under review. The paper therefore recommends that in addition to combining monetary policy with other economic policies (fiscal, income policies) etc to fight poverty in Nigeria, the monetary authorities as a matter of obligation must strengthens banking rules and regulations to enhance compliance with CBN's rules and directives by commercial banks in order to further facilitate and enhance the effectiveness of monetary policy instruments in the economy in order to influence poverty reduction in Nigeria.

African Research Review, 2013

The ECOWAS Monetary Cooperation Progamme (EMCP) was designed to facilitate regional trade through... more The ECOWAS Monetary Cooperation Progamme (EMCP) was designed to facilitate regional trade through improvement in the ECOWAS multilateral payments system, the harmonization of economic policies and evolvement of common institutional arrangements. However, the EMCP, adopted in Abuja in 1987, has not recorded the desired progress. This paper is a theoretical survey of the factors that have inhibited the progress of monetary integration in the ECOWAS. Although monetary integration in the ECOWAS is envisaged to increase intra-trade among member countries, facilitate the establishment of a single capital market, improve macroeconomic policy coordination, strengthens common monetary authority, encourage freedom of movement of persons and also lead to market enlargement, it is not without challenges. The paper notes that the major challenges hindering the monetary integration process in the ECOWAS include; low intra-trade among member countries, fear of domination by the larger, wealthier and Copyright© IAARR 2013: www.afrrevjo.net 82 Indexed African Journals Online: www.ajol.info stronger countries, loss of revenue, uneven distribution of the benefits of integration, political instability, ethnic and religious crises and lack of political will and commitment on the part of member countries among other factors. The paper therefore, submits that the encouragement of intra-trade within the ECOWAS sub-region, massive investment in transport and communication infrastructures within the region, and improved government political will and commitment to implementing the monetary integration agreements would foster effective monetary integration in the ECOWAS for maximum benefits of all members.

Journal of economics and sustainable development, 2015

This paper offers a theoretical perspective on how monetary policy can enhance inclusive growth i... more This paper offers a theoretical perspective on how monetary policy can enhance inclusive growth in the economy through the Central Bank of Nigeria (CBN). The ultimate objective of monetary policy is to promote sound economic performance and high living standards of the citizens. This makes monetary policy a key element of macroeconomic management and its effectiveness is crucial to the overall economic performance of Nigeria. The paper constructed a theoretical model for inclusive growth in Nigeria and provides the drivers of inclusive growth in the economy. It also identified and discussed major challenges to the conduct and implementation of monetary policy in Nigeria which undermine the effectiveness of monetary policy to include non-monetized Nigerian rural sector, underdeveloped money and capital markets, and large quantity of money outside the banking system. Others include poor data quality, proliferation of illegal financial houses, and poor banking habits in the economy. Th...

Journal of Public Affairs, 2020

Frontiers in Cellular Neuroscience, 2020

Cyclin-dependent kinase 5 (Cdk5) is a serine/threonine kinase that is activated by the neuron-spe... more Cyclin-dependent kinase 5 (Cdk5) is a serine/threonine kinase that is activated by the neuron-specific activators p35/p39 and plays important roles in neuronal development, synaptic plasticity, and cognitive behavior. However, the proteolytic cleavage of p35 to p25 leads to prolonged and aberrant Cdk5 activation and results in synaptic depression, highly mimicking the early pathology of Alzheimer's disease (AD). Therefore, Cdk5 inhibition is a potential promising strategy for AD drug development. Here in the present study, we showed that metformin, the most widely used drug for type 2 diabetes, suppressed Cdk5 hyper-activation and Cdk5-dependent tau hyperphosphorylation in the APP/PS1 mouse hippocampus. We also identified the underlying molecular and cellular mechanism that metformin prevented Cdk5 hyper-activation by inhibiting the calpain-dependent cleavage of p35 into p25. Moreover, chronic metformin treatment rescued the core phenotypes in APP/PS1 mice as evidenced by restored spine density, surface GluA1 trafficking, Long-term potentiation (LTP) expression, and spatial memory. Altogether our study discovered an unidentified role of metformin in suppressing Cdk5 hyper-activation and thus preventing AD pathogenesis and suggested that metformin is a potential promising AD therapeutic drug.

Journal of Mining Science, 1992

The results of an experimental investigation of the strain hardening of steel 12KhNZA,* which wer... more The results of an experimental investigation of the strain hardening of steel 12KhNZA,* which were obtained during the testing of thin-wall tubular specimens subjected to biaxial tension accompanied by partial unloading with hardening are cited. The load paths were three-and multiple-member broken lines. The effect of the second segment and its length over which forward and backward motion is accomplished on the subsequent character of the material's hardening are addressed. The laws obtained for the deformation are analyzed from positions of an alternate scheme of the theory of plasticity of an anisotropically hardening medium [ 1-3]. The laws governing the inelastic deformation of a material under loading accompanied by partial unloading in one of the directions of preliminary plastic deformation are investigated experimentally. The concept of partial unloading was introduced in [ 1, 2]; this is the intermediate process between active loading and complete unloading, when the sites of influence of the principal tangential stresses T, T12, and T23 t t 1 T-~-(~1-%), r, = g ((rl-o2), r2~ = 2-((r,-%), where el, a2, and a 3 are principal stresses) increase on some systems, and decrease on others. Elastic deformation beyond the yield point in one of the directions of the preliminary plastic deformation, the so-called "partial unloading with hardening," is possible in this state. Cases of loading along paths in the form of two-member broken lines with different fracture angles were studied in detail in [4-6]. The load paths considered in this paper are three-and multiple-member broken lines; the first segment is axial tension, while the second is incomplete loading under a constant or insignificant varying axial stress ((rz) and increasing circumferential stress (%). A backward motion was then followed along the second segment in a state of axial tension, while the final segment was loading with an incomplete-loading parameter tZAa = 3 [1, 2]: 2A~ 2-A~ 1-,A% (1) ~.la~ ~ A(~ 1-A% ' where hal, Aa2, and Aa 3 are the increases in the principal stresses. We investigated the effect of the length of the second segment on the character of material hardening on the final segment; the length of the second segment was: a) a z > (re; b) a z = (rq,; c) (re > az" The experimental results are set forth in conformity with the representations of the material model [ 1-3] in which plastic deformation is treated as a sequence of shears on the sites of influence of the principal tangential stresses T, T12, and "1"23. The experiments discussed in the paper were conducted on an Instron-1275 testing machine at the Institute of Polymer Mechanics, Academy of Sciences of the USSR, and the material was steel 12KhNZA. *Steel 12KhNZA is widely used in mine-machine building for the fabrication of heavily loaded components operating under dynamic and static loads.

KIU Journal of Social Sciences, Apr 21, 2021

JOURNAL OF ECONOMIC AND FINANCIAL ISSUES, 2018

The trend of price movements in Nigeria has been a fluctuating one showing wide gaps between the ... more The trend of price movements in Nigeria has been a fluctuating one showing wide gaps between the target and actual rates of inflation. This development is not only worrisome but it also creates uncertainties in the economy, weakens investors' confidence and affects expectations which are mainly adaptive.This study, therefore, attempted a forecast of the short term inflation rate in Nigeria using the autoregressive integrated moving average (ARIMA) and the artificial neural network (ANN) models to forecast the monthly rate of inflation. The aim is to compare the predictive ability of the two forecasting models and conduct inflation forecast up to December, 2018. The study found that ANN has higher predictive or forecasting ability compared to ARIMA (1 1 1). Also, the results of the forecasted monthly inflation for 2018 showed that inflation rate will be slightly lower in the early months but, again, rise marginally in the later months. The study, therefore, recommends that monetary authorities should think in the direction of using Artificial Neural Networks (ANN) in conducting short-term inflation forecasts in Nigeria.