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Papers by gospel nwauwa

European Scientific Journal ESJ, 2020

This study investigates the effect of government public expenditures on Nigeria's economic growth... more This study investigates the effect of government public expenditures on Nigeria's economic growth and development using the sectorial economic function approach. The real Gross Domestic Product (GDP), which is the outcome variable in this study, was employed as the proxy for economic growth while government's expenditures on administrative services, economic services, social and community services, and transfers were used as the predictor variables in this study. Surprisingly, the results from the cointegration test and Vector Error Correction Model estimate reveal that all the predictor variables, apart from expenditure on administration, have a positive relationship with economic growth. While expenditures on economic services and social and community services have positive and significant relationship with economic growth, government transfers has a positive but insignificant relationship with economic growth. Emphatically, expenditure on administrative services has a significant negative relationship with economic growth. The result from Wald coefficient diagnostic test reveals that there is short run causality running from the public expenditure aggregates to economic growth. Thus, this study recommends, among others, that efforts should be made to reduce the deadweight aggregate public expenditure on administrative services since it has a significant negative impact on economic growth trend in Nigeria.

The International Journal of Business and Management, Oct 31, 2021

1. Background Information There are overwhelming reports from different scholars showing that fin... more 1. Background Information There are overwhelming reports from different scholars showing that financial intermediaries assume a tremendous part in the economic development of any country. This is because it propels economic development through capital accumulation and technological progress by increasing the savings rate, mobilizing and pooling savings, producing information about investment, facilitating and encouraging foreign capital inflows, also as optimizing the allocation of capital, consequently, reduces poverty rate. It is in this perspective that the world's global financial development remarks that countries with better developed financial systems will develop quicker throughout broad time frames (World Bank, 2019). This means that financial intermediaries broaden access to finance, facilitates risk management by reducing their shortcoming to risk, and increasing investment and productivity that result in higher income generation and diminishes poverty and inequality to the poor and less developed countries like Nigeria. Consequently, this can only be achieved when financial resources are mobilized as savings through banks and channelling these funds in the form of credits to more productive uses for investments; hence, making up one of the principal functions of bank financial intermediation in the savings funds mobilization and investment process.

International Economic Review, 2010

We present a model of economic development where the importance of financial differences caused b... more We present a model of economic development where the importance of financial differences caused by limited enforcement can be measured. Economies where enforcement is poor direct less capital to the production sector, and employ less efficient technologies. Calibrated simulations reveal that the resulting effect on output is large. Furthermore, the model correctly predicts that the average scale of production should rise with the quality of enforcement. Finally, we find that the importance of limited enforcement rises with the importance of capital in production.

The International Journal of Business & Management

European Scientific Journal ESJ, Mar 31, 2020

This study investigates the effect of government public expenditures on Nigeria's economic gr... more This study investigates the effect of government public expenditures on Nigeria's economic growth and development using the sectorial economic function approach. The real Gross Domestic Product (GDP), which is the outcome variable in this study, was employed as the proxy for economic growth while government's expenditures on administrative services, economic services, social and community services, and transfers were used as the predictor variables in this study. Surprisingly, the results from the co-integration test and Vector Error Correction Model estimate reveal that all the predictor variables, apart from expenditure on administration, have a positive relationship with economic growth. While expenditures on economic services and social and community services have positive and significant relationship with economic growth, government transfers has a positive but insignificant relationship with economic growth. Emphatically, expenditure on administrative services has a si...

European Scientific Journal ESJ, 2020

This study investigates the effect of government public expenditures on Nigeria's economic growth... more This study investigates the effect of government public expenditures on Nigeria's economic growth and development using the sectorial economic function approach. The real Gross Domestic Product (GDP), which is the outcome variable in this study, was employed as the proxy for economic growth while government's expenditures on administrative services, economic services, social and community services, and transfers were used as the predictor variables in this study. Surprisingly, the results from the cointegration test and Vector Error Correction Model estimate reveal that all the predictor variables, apart from expenditure on administration, have a positive relationship with economic growth. While expenditures on economic services and social and community services have positive and significant relationship with economic growth, government transfers has a positive but insignificant relationship with economic growth. Emphatically, expenditure on administrative services has a significant negative relationship with economic growth. The result from Wald coefficient diagnostic test reveals that there is short run causality running from the public expenditure aggregates to economic growth. Thus, this study recommends, among others, that efforts should be made to reduce the deadweight aggregate public expenditure on administrative services since it has a significant negative impact on economic growth trend in Nigeria.

The International Journal of Business and Management, Oct 31, 2021

1. Background Information There are overwhelming reports from different scholars showing that fin... more 1. Background Information There are overwhelming reports from different scholars showing that financial intermediaries assume a tremendous part in the economic development of any country. This is because it propels economic development through capital accumulation and technological progress by increasing the savings rate, mobilizing and pooling savings, producing information about investment, facilitating and encouraging foreign capital inflows, also as optimizing the allocation of capital, consequently, reduces poverty rate. It is in this perspective that the world's global financial development remarks that countries with better developed financial systems will develop quicker throughout broad time frames (World Bank, 2019). This means that financial intermediaries broaden access to finance, facilitates risk management by reducing their shortcoming to risk, and increasing investment and productivity that result in higher income generation and diminishes poverty and inequality to the poor and less developed countries like Nigeria. Consequently, this can only be achieved when financial resources are mobilized as savings through banks and channelling these funds in the form of credits to more productive uses for investments; hence, making up one of the principal functions of bank financial intermediation in the savings funds mobilization and investment process.

International Economic Review, 2010

We present a model of economic development where the importance of financial differences caused b... more We present a model of economic development where the importance of financial differences caused by limited enforcement can be measured. Economies where enforcement is poor direct less capital to the production sector, and employ less efficient technologies. Calibrated simulations reveal that the resulting effect on output is large. Furthermore, the model correctly predicts that the average scale of production should rise with the quality of enforcement. Finally, we find that the importance of limited enforcement rises with the importance of capital in production.

The International Journal of Business & Management

European Scientific Journal ESJ, Mar 31, 2020

This study investigates the effect of government public expenditures on Nigeria's economic gr... more This study investigates the effect of government public expenditures on Nigeria's economic growth and development using the sectorial economic function approach. The real Gross Domestic Product (GDP), which is the outcome variable in this study, was employed as the proxy for economic growth while government's expenditures on administrative services, economic services, social and community services, and transfers were used as the predictor variables in this study. Surprisingly, the results from the co-integration test and Vector Error Correction Model estimate reveal that all the predictor variables, apart from expenditure on administration, have a positive relationship with economic growth. While expenditures on economic services and social and community services have positive and significant relationship with economic growth, government transfers has a positive but insignificant relationship with economic growth. Emphatically, expenditure on administrative services has a si...