bruce iormom | University of Mkar, Mkar (original) (raw)

Papers by bruce iormom

SN Business & Economics, Feb 14, 2024

Environmental Science and Pollution Research, Apr 29, 2023

Given a new perspective on the environmental hypothesis, this paper systematically investigates t... more Given a new perspective on the environmental hypothesis, this paper systematically investigates the validity of the environmental Kuznets curve (EKC), pollution haven, and pollution halo hypotheses using carbon efficiency as the dependent variable. Applying the dynamic autoregressive distributed lag simulations based on the annual time series data over the period 1990-2019, the study found that real GDP per capita has negative effects on China's environmental quality both in the short and long run, whereas the square of real GDP per capita has positive impacts. This validates the EKC hypothesis for China. Furthermore, foreign direct investment has negative effects on environmental quality in China, implying that the case of China exemplifies the pollution haven hypothesis and not the pollution halo hypothesis. The empirical results also demonstrate that energy efficiency and trade openness improve China's environmental quality both in the short run and long run. These findings, therefore, provide insights into achieving the ambitious climate goals in China by 2050.

International Journal of Physical and Social Sciences, 2014

This article investigates exchange rate pass-through to domestic prices in Namibia. The study cov... more This article investigates exchange rate pass-through to domestic prices in Namibia. The study covers the period of 1993:Q1-2011:Q4, and employed the impulse response functions and variance decompositions obtained from a structural vector autoregressive model. The results from the impulse response functions show that there is a high and long-lasting effect from changes in exchange rates to inflation in Namibia, or high exchange rate pass-through into domestic inflation. The results from the forecast error variance decompositions also reflect that changes in the price level evolve endogenously with changes in the exchange rate. The results are in agreement with the findings of the impulse response functions regarding the significant effect of the exchange rate variable on domestic prices (inflation). The results confirm an incomplete pass-through, indicating that the purchasing power parity theory does not hold, with regard to the price level, in the context of Namibia.

This study investigates to determine whether the sensitivity of import demand to negative partial... more This study investigates to determine whether the sensitivity of import demand to negative partial sum processes of consumer price index, currency price and national income merely mirror the elasticities corresponding to positive partial sums of these same determinants in Nigeria. The test of the recently developed nonlinear autoregressive distributed lag model provided strong proof for asymmetry over the short- and long-run. From the long-run non-linear Autoregressive Distributed Lag estimates, import demand was found to be positve, inelastic and significant in response to positive shocks to Consumer Price Index, and positve, significant but elastic in response to negative shocks. The short-term response of import demand to Consumer Price Index is revealed to be biased towards negative shocks. Import demand is indicated to be more responsive to currency appreciation than depreciation. Further, we found higher coefficients of income elasticity of import demand associated with negativ...

Energy Economics, 2018

This paper examines the quantile behavior of the relationship between the nuances of globalizatio... more This paper examines the quantile behavior of the relationship between the nuances of globalization and energy consumption while incorporating capital and economic growth in case of top-two most globalized countries-Netherlands and Ireland-by employing the recently developed quantile autoregressive distributed lag (QARDL) model of Cho et al. (2015). The model is estimated using quarterly data over the period 1970Q1-2015Q4. The results indicate that the relationship is quantile-dependent, which may reveal misleading results in studies using traditional analyses that address the averages. The Wald test confirms our findings by rejecting the null hypothesis of parameter constancy for both the Netherlands and Ireland. The changes in energy consumption are more responsive to past levels and past changes in globalization than the adjustment provided by the error-correction method (ECM). Interestingly, the findings indicate that globalization is positively correlated with energy consumption in the long-term for the two countries. Furthermore, globalization shares a robust long-term relationship with energy consumption. Energy consumption is strongly related to globalization in the long-term. However, the short-term effects of globalization on energy demand are limited for those countries. Important policy implications are then suggested based on the empirical results.

Social Science Research Network, 2022

Environmental Science and Pollution Research, 2020

International Journal of Finance & Economics, 2020

This study estimates the Nigerian import demand function with the view to finding the degree of r... more This study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports to domestic product prices while controlling for exchange rate (EXR), gross domestic product and foreign reserves. To refine inference about stationarity in the presence of structural breaks, the study employed the Lee and Strazicich and Zivot-Andrews stationarity tests, which all confirmed that the series are integrated of order one. Both the ARDL bound testing for cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From the cointegrating regression estimates using the Saikkonen and Stock-Watson Dynamic Ordinary Least Square procedure and the Phillip and Hansen's Fully Modified Ordinary Least Square technique, we found that imports in Nigeria are domestic inflation or cross elastic in the long run. The study, however, found import demand to be inelastic to EXR and income, same as to foreign exchange reserves. The sensitivity of these estimates was confirmed with the ARDL procedure suggested by Peseran, Shin and Smith. With the Granger non-causality test using the Toda-Yamamoto's technique, we found unidirectional causality running from domestic inflation to import demand, implying that previous values of domestic inflation offer additional information to explaining future values of aggregate import demand. Diversification of domestic production as well as other policies directed at enhancing price and quality competiveness of domestic products were recommended.

International Journal of Physical and Social Sciences, 2014

The persistent double-digit inflationary rate in Nigeria prompted the research which investigated... more The persistent double-digit inflationary rate in Nigeria prompted the research which investigated the impact of Exchange rate-pass-through to domestic prices in Nigeria between 1982 and 2010 using time series data generated from the CBN and NBS. Using the ADF, Johansen Cointegration and Vector Error Model as the methodology, the empirical evidence arising from the various econometrics tests found that exchange rate is significant in explaining prices in Nigeria during the period of the analysis. Taming exchange rate fluctuations and sustained domestic production were recommended.

Nigerian Economic Society, 2019

The share of government expenditure in total health spending in Nigeria has been persistently low... more The share of government expenditure in total health spending in Nigeria has been persistently low while the share of household health expenditure has been almost always rising. Meanwhile, the Naira exchange rate against the US Dollar has been rising in spite of the sustained application of exchange rate policy over the years. This study investigates the effect of public health expenditure and the everdepreciating exchange rate on household health expenditure while controlling for gross domestic product per capita and consumer price index. We determined the stationarity properties of the series using the Augmented Dickey Fuller test to confirm that none of the variables was integrated after second difference. The ARDL bound test for cointegration and the Johansen procedure both confirmed the existence of long-run relationship among the series. Coefficients obtained using the Autoregressive Distributed Lag Model revealed that public health expenditure has negative impact on household health expenditure in both the short-and long-run. Household health expenditure is also found to be exchange rate elastic in the longrun. The VECM Granger causality result revealed that there is a long-run unidirectional causality running from public health expenditure, exchange rate, income and domestic prices to household health expenditure. Our study suggests fiscal expansion for health, exchange rate appreciation measures and health risk protection for both the formal and informal sectors.

This study estimates the Nigerian import demand function with the view to finding the degree of r... more This study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports to domestic product prices while controlling for exchange rate (EXR), gross domestic product and foreign reserves. To refine inference about stationarity in the presence of structural breaks, the study employed the Lee and Strazicich and Zivot-Andrews stationarity tests, which all confirmed that the series are integrated of order one. Both the ARDL bound testing for cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From the cointegrating regression estimates using the Saikkonen and Stock-Watson Dynamic Ordinary Least Square procedure and the Phillip and Hansen's Fully Modified Ordinary Least Square technique, we found that imports in Nigeria are domestic inflation or cross elastic in the long run. The study, however, found import demand to be inelastic to EXR and income, same as to foreign exchange reserves. The sensitivity of these estimates was confirmed with the ARDL procedure suggested by Peseran, Shin and Smith. With the Granger non-causality test using the Toda-Yamamoto's technique, we found unidirectional causality running from domestic inflation to import demand, implying that previous values of domestic inflation offer additional information to explaining future values of aggregate import demand. Diversification of domestic production as well as other policies directed at enhancing price and quality competiveness of domestic products were recommended.

Benue Journal of Social Sciences, 2019

The volume of imports in Nigeria has been rising continuosly to the point of re-enforcing the fun... more The volume of imports in Nigeria has been rising continuosly to the point of re-enforcing the fundamentals impinging on the attainment of key macroeconomic objectives even after several policy interventions have been applied. This current study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports, particularly to domestic product prices while controlling for exchange rate, gross domestic product and foreign reserves. The ADF and Zivot-Andrews (1992) stationarity test with structural breaks were used to determine the order of integration in the series. Both the ARDL bound testing for cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From the cointegrating regression estimates using the Saikkonen (1990) and Stock-Watson (1993) Dynamic Ordinary Least Sqauare procedure and the Phillip and Hansen (1990) Fully Modified Ordinary Least Square technique, we found that imports in Nigeria are domestic inflation or cross elastic in the long run. The study however found import demand to be inelastic to exchange rate and income, same as to foreign exchange reserves. Policies directed at enhancing price and quality competiveness of domestic products were recommended.

Journal of Economic Studies, 2019

Nigerian imports have continued to rise astronomically over the years even in the face of several... more Nigerian imports have continued to rise astronomically over the years even in the face of several policy interventions aimed at expanding the domestic economy and reducing import concentration of our domestic consumption. This current study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports, particularly to income, price and exchange rate. Our study used both the ADF and Zivot-Andrews (1992) stationarity test with structural breaks to confirm that none of the series is integrated of order two, but that all the series are integrated at first difference. Both the ARDL bound testing cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From our shortand long-run estimates, We found that imports in Nigeria are income elastic both in the short-and long-run from 1981 to 2016. We however found import to be inelastic to exchange rate, relative prices and domestic prices. Deviations from long-run equilibrium are found to be corrected by about 68.9% within one year.

Journal of Public Affairs

This study investigates the effect of public health expenditure and the ever-depreciating exchang... more This study investigates the effect of public health expenditure and the ever-depreciating exchange rate on household health expenditure while controlling for gross domestic product per capita and consumer price index. We determined the stationarity properties of the series using the Lee and Strazicich, Economic Bulletin, 2013, 33, 2483-2492 and the Augmented Dickey Fuller test to confirm that none of the variables was integrated at an order higher than one. The ARDL bound test for cointegration and the Johansen procedure both confirmed the existence of long-run relationship among the series. From the Autoregressive Distributed Lag Model results, study reveals that public health expenditure has decreasing impact on the incidence of household health expenditure in both the short-and long-run. Household health expenditure is also found to be exchange rate elastic in the long-run. The VECM Granger causality result reveals a long-run unidirectional causality running from public health expenditure, exchange rate, income and domestic prices to household health expenditure. Our study suggests fiscal expansion for health, exchange rate appreciation measures and health risk protection for both the formal and informal sectors.

Environmental Science and Pollution Research , 2020

1 2 3 Your article is protected by copyright and all rights are held exclusively by Springer-Verl... more 1 2 3 Your article is protected by copyright and all rights are held exclusively by Springer-Verlag GmbH Germany, part of Springer Nature. This e-offprint is for personal use only and shall not be self-archived in electronic repositories. If you wish to self-archive your article, please use the accepted manuscript version for posting on your own website. You may further deposit the accepted manuscript version in any repository, provided it is only made publicly available 12 months after official publication or later and provided acknowledgement is given to the original source of publication and a link is inserted to the published article on Springer's website. The link must be accompanied by the following text: "The final publication is available at link.springer.com".

Benue Journal of Social Sciences, 2019

A simple model of inflation was built on the foundation of the Vector Autoregressive framework to... more A simple model of inflation was built on the foundation of the Vector Autoregressive framework to analyse the response of domestic commodity prices to currency prices, global price trend and a number of macroeconomic variables. The study sought to determine the extent to which exchange rate values contribute to inflation and by extension, test the acceptability of the theoretical argument for complete exchange rate pass-through using Nigerian data. Series were confirmed to achieve stationarity at first difference when the Augmented Dickey Fuller test was applied to check the order of integration. Using the Johansen cointegration procedure, it was also established that there is long-run equilibrium relationship among the variables. The results of the Vector Error Correction Model confirmed the response of inflation to exchange rate in Nigeria. Inflation was also found to respond to the global trend of prices and those variables other than openness. Short run adjustment to long run equilibrium is completed within four (4) years and seven (7) months. Supply side measures were recommended as potent in correcting inflationary pressures in Nigeria. Good harmony of monetary and fiscal measures was also recommended to achieve external and internal balance.

Lambert Academic Publishing, 2019

Journal of Public Affairs, 2020

This study investigates the effect of public health expenditure and the ever-depreciating exchang... more This study investigates the effect of public health expenditure and the ever-depreciating exchange rate on household health expenditure while controlling for gross domestic product per capita and consumer price index. We determined the stationarity properties of the series using the Lee and Strazicich, Economic Bulletin, 2013, 33, 2483-2492 and the Augmented Dickey Fuller test to confirm that none of the variables was integrated at an order higher than one. The ARDL bound test for cointegration and the Johansen procedure both confirmed the existence of long-run relationship among the series. From the Autoregressive Distributed Lag Model results, study reveals that public health expenditure has decreasing impact on the incidence of household health expenditure in both the short-and long-run. Household health expenditure is also found to be exchange rate elastic in the long-run. The VECM Granger causality result reveals a long-run unidirectional causality running from public health expenditure, exchange rate, income and domestic prices to household health expenditure. Our study suggests fiscal expansion for health, exchange rate appreciation measures and health risk protection for both the formal and informal sectors.

International Journal of Development and Economic Sustainability , 2018

The paper examined the impact of exchange rate variation on the competitiveness of Nigerian non-o... more The paper examined the impact of exchange rate variation on the competitiveness of Nigerian non-oil exports using the Autoregressive Distributed Lag (ARDL) model after the diagnostic tests reveal that variables were integrated of different orders. The ARDL estimation showed the presence of a long run relationship between the variables in the model. The results revealed that a 1% increase in exchange rate variation, degree of openness and bilateral exchange rate (RER) which measured the competitiveness of the nation's exports will cause a 14.67%, 63.21% and 7.49% reductions respectively in the volume of non-oil exports in the long run. The short run dynamics revealed that the variables above exerted a negative effect on the volume of non-oil exports from Nigeria. The GDP showed positive impacts on the volume of trade both in the short and long run. The study therefore recommended the vigorous pursuance of exchange rate stabilization policies in order to minimize variation in rates and improve the competitiveness of the nation's non-oil exports as well as the imposition of slight restrictions on non-capital imports and consumables to reduce the effect of openness on the Economy.

SN Business & Economics, Feb 14, 2024

Environmental Science and Pollution Research, Apr 29, 2023

Given a new perspective on the environmental hypothesis, this paper systematically investigates t... more Given a new perspective on the environmental hypothesis, this paper systematically investigates the validity of the environmental Kuznets curve (EKC), pollution haven, and pollution halo hypotheses using carbon efficiency as the dependent variable. Applying the dynamic autoregressive distributed lag simulations based on the annual time series data over the period 1990-2019, the study found that real GDP per capita has negative effects on China's environmental quality both in the short and long run, whereas the square of real GDP per capita has positive impacts. This validates the EKC hypothesis for China. Furthermore, foreign direct investment has negative effects on environmental quality in China, implying that the case of China exemplifies the pollution haven hypothesis and not the pollution halo hypothesis. The empirical results also demonstrate that energy efficiency and trade openness improve China's environmental quality both in the short run and long run. These findings, therefore, provide insights into achieving the ambitious climate goals in China by 2050.

International Journal of Physical and Social Sciences, 2014

This article investigates exchange rate pass-through to domestic prices in Namibia. The study cov... more This article investigates exchange rate pass-through to domestic prices in Namibia. The study covers the period of 1993:Q1-2011:Q4, and employed the impulse response functions and variance decompositions obtained from a structural vector autoregressive model. The results from the impulse response functions show that there is a high and long-lasting effect from changes in exchange rates to inflation in Namibia, or high exchange rate pass-through into domestic inflation. The results from the forecast error variance decompositions also reflect that changes in the price level evolve endogenously with changes in the exchange rate. The results are in agreement with the findings of the impulse response functions regarding the significant effect of the exchange rate variable on domestic prices (inflation). The results confirm an incomplete pass-through, indicating that the purchasing power parity theory does not hold, with regard to the price level, in the context of Namibia.

This study investigates to determine whether the sensitivity of import demand to negative partial... more This study investigates to determine whether the sensitivity of import demand to negative partial sum processes of consumer price index, currency price and national income merely mirror the elasticities corresponding to positive partial sums of these same determinants in Nigeria. The test of the recently developed nonlinear autoregressive distributed lag model provided strong proof for asymmetry over the short- and long-run. From the long-run non-linear Autoregressive Distributed Lag estimates, import demand was found to be positve, inelastic and significant in response to positive shocks to Consumer Price Index, and positve, significant but elastic in response to negative shocks. The short-term response of import demand to Consumer Price Index is revealed to be biased towards negative shocks. Import demand is indicated to be more responsive to currency appreciation than depreciation. Further, we found higher coefficients of income elasticity of import demand associated with negativ...

Energy Economics, 2018

This paper examines the quantile behavior of the relationship between the nuances of globalizatio... more This paper examines the quantile behavior of the relationship between the nuances of globalization and energy consumption while incorporating capital and economic growth in case of top-two most globalized countries-Netherlands and Ireland-by employing the recently developed quantile autoregressive distributed lag (QARDL) model of Cho et al. (2015). The model is estimated using quarterly data over the period 1970Q1-2015Q4. The results indicate that the relationship is quantile-dependent, which may reveal misleading results in studies using traditional analyses that address the averages. The Wald test confirms our findings by rejecting the null hypothesis of parameter constancy for both the Netherlands and Ireland. The changes in energy consumption are more responsive to past levels and past changes in globalization than the adjustment provided by the error-correction method (ECM). Interestingly, the findings indicate that globalization is positively correlated with energy consumption in the long-term for the two countries. Furthermore, globalization shares a robust long-term relationship with energy consumption. Energy consumption is strongly related to globalization in the long-term. However, the short-term effects of globalization on energy demand are limited for those countries. Important policy implications are then suggested based on the empirical results.

Social Science Research Network, 2022

Environmental Science and Pollution Research, 2020

International Journal of Finance & Economics, 2020

This study estimates the Nigerian import demand function with the view to finding the degree of r... more This study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports to domestic product prices while controlling for exchange rate (EXR), gross domestic product and foreign reserves. To refine inference about stationarity in the presence of structural breaks, the study employed the Lee and Strazicich and Zivot-Andrews stationarity tests, which all confirmed that the series are integrated of order one. Both the ARDL bound testing for cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From the cointegrating regression estimates using the Saikkonen and Stock-Watson Dynamic Ordinary Least Square procedure and the Phillip and Hansen's Fully Modified Ordinary Least Square technique, we found that imports in Nigeria are domestic inflation or cross elastic in the long run. The study, however, found import demand to be inelastic to EXR and income, same as to foreign exchange reserves. The sensitivity of these estimates was confirmed with the ARDL procedure suggested by Peseran, Shin and Smith. With the Granger non-causality test using the Toda-Yamamoto's technique, we found unidirectional causality running from domestic inflation to import demand, implying that previous values of domestic inflation offer additional information to explaining future values of aggregate import demand. Diversification of domestic production as well as other policies directed at enhancing price and quality competiveness of domestic products were recommended.

International Journal of Physical and Social Sciences, 2014

The persistent double-digit inflationary rate in Nigeria prompted the research which investigated... more The persistent double-digit inflationary rate in Nigeria prompted the research which investigated the impact of Exchange rate-pass-through to domestic prices in Nigeria between 1982 and 2010 using time series data generated from the CBN and NBS. Using the ADF, Johansen Cointegration and Vector Error Model as the methodology, the empirical evidence arising from the various econometrics tests found that exchange rate is significant in explaining prices in Nigeria during the period of the analysis. Taming exchange rate fluctuations and sustained domestic production were recommended.

Nigerian Economic Society, 2019

The share of government expenditure in total health spending in Nigeria has been persistently low... more The share of government expenditure in total health spending in Nigeria has been persistently low while the share of household health expenditure has been almost always rising. Meanwhile, the Naira exchange rate against the US Dollar has been rising in spite of the sustained application of exchange rate policy over the years. This study investigates the effect of public health expenditure and the everdepreciating exchange rate on household health expenditure while controlling for gross domestic product per capita and consumer price index. We determined the stationarity properties of the series using the Augmented Dickey Fuller test to confirm that none of the variables was integrated after second difference. The ARDL bound test for cointegration and the Johansen procedure both confirmed the existence of long-run relationship among the series. Coefficients obtained using the Autoregressive Distributed Lag Model revealed that public health expenditure has negative impact on household health expenditure in both the short-and long-run. Household health expenditure is also found to be exchange rate elastic in the longrun. The VECM Granger causality result revealed that there is a long-run unidirectional causality running from public health expenditure, exchange rate, income and domestic prices to household health expenditure. Our study suggests fiscal expansion for health, exchange rate appreciation measures and health risk protection for both the formal and informal sectors.

This study estimates the Nigerian import demand function with the view to finding the degree of r... more This study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports to domestic product prices while controlling for exchange rate (EXR), gross domestic product and foreign reserves. To refine inference about stationarity in the presence of structural breaks, the study employed the Lee and Strazicich and Zivot-Andrews stationarity tests, which all confirmed that the series are integrated of order one. Both the ARDL bound testing for cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From the cointegrating regression estimates using the Saikkonen and Stock-Watson Dynamic Ordinary Least Square procedure and the Phillip and Hansen's Fully Modified Ordinary Least Square technique, we found that imports in Nigeria are domestic inflation or cross elastic in the long run. The study, however, found import demand to be inelastic to EXR and income, same as to foreign exchange reserves. The sensitivity of these estimates was confirmed with the ARDL procedure suggested by Peseran, Shin and Smith. With the Granger non-causality test using the Toda-Yamamoto's technique, we found unidirectional causality running from domestic inflation to import demand, implying that previous values of domestic inflation offer additional information to explaining future values of aggregate import demand. Diversification of domestic production as well as other policies directed at enhancing price and quality competiveness of domestic products were recommended.

Benue Journal of Social Sciences, 2019

The volume of imports in Nigeria has been rising continuosly to the point of re-enforcing the fun... more The volume of imports in Nigeria has been rising continuosly to the point of re-enforcing the fundamentals impinging on the attainment of key macroeconomic objectives even after several policy interventions have been applied. This current study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports, particularly to domestic product prices while controlling for exchange rate, gross domestic product and foreign reserves. The ADF and Zivot-Andrews (1992) stationarity test with structural breaks were used to determine the order of integration in the series. Both the ARDL bound testing for cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From the cointegrating regression estimates using the Saikkonen (1990) and Stock-Watson (1993) Dynamic Ordinary Least Sqauare procedure and the Phillip and Hansen (1990) Fully Modified Ordinary Least Square technique, we found that imports in Nigeria are domestic inflation or cross elastic in the long run. The study however found import demand to be inelastic to exchange rate and income, same as to foreign exchange reserves. Policies directed at enhancing price and quality competiveness of domestic products were recommended.

Journal of Economic Studies, 2019

Nigerian imports have continued to rise astronomically over the years even in the face of several... more Nigerian imports have continued to rise astronomically over the years even in the face of several policy interventions aimed at expanding the domestic economy and reducing import concentration of our domestic consumption. This current study estimates the Nigerian import demand function with the view to finding the degree of responsiveness of imports, particularly to income, price and exchange rate. Our study used both the ADF and Zivot-Andrews (1992) stationarity test with structural breaks to confirm that none of the series is integrated of order two, but that all the series are integrated at first difference. Both the ARDL bound testing cointegration and the Johansen cointegration approach all confirmed long-run relationship among the variables. From our shortand long-run estimates, We found that imports in Nigeria are income elastic both in the short-and long-run from 1981 to 2016. We however found import to be inelastic to exchange rate, relative prices and domestic prices. Deviations from long-run equilibrium are found to be corrected by about 68.9% within one year.

Journal of Public Affairs

This study investigates the effect of public health expenditure and the ever-depreciating exchang... more This study investigates the effect of public health expenditure and the ever-depreciating exchange rate on household health expenditure while controlling for gross domestic product per capita and consumer price index. We determined the stationarity properties of the series using the Lee and Strazicich, Economic Bulletin, 2013, 33, 2483-2492 and the Augmented Dickey Fuller test to confirm that none of the variables was integrated at an order higher than one. The ARDL bound test for cointegration and the Johansen procedure both confirmed the existence of long-run relationship among the series. From the Autoregressive Distributed Lag Model results, study reveals that public health expenditure has decreasing impact on the incidence of household health expenditure in both the short-and long-run. Household health expenditure is also found to be exchange rate elastic in the long-run. The VECM Granger causality result reveals a long-run unidirectional causality running from public health expenditure, exchange rate, income and domestic prices to household health expenditure. Our study suggests fiscal expansion for health, exchange rate appreciation measures and health risk protection for both the formal and informal sectors.

Environmental Science and Pollution Research , 2020

1 2 3 Your article is protected by copyright and all rights are held exclusively by Springer-Verl... more 1 2 3 Your article is protected by copyright and all rights are held exclusively by Springer-Verlag GmbH Germany, part of Springer Nature. This e-offprint is for personal use only and shall not be self-archived in electronic repositories. If you wish to self-archive your article, please use the accepted manuscript version for posting on your own website. You may further deposit the accepted manuscript version in any repository, provided it is only made publicly available 12 months after official publication or later and provided acknowledgement is given to the original source of publication and a link is inserted to the published article on Springer's website. The link must be accompanied by the following text: "The final publication is available at link.springer.com".

Benue Journal of Social Sciences, 2019

A simple model of inflation was built on the foundation of the Vector Autoregressive framework to... more A simple model of inflation was built on the foundation of the Vector Autoregressive framework to analyse the response of domestic commodity prices to currency prices, global price trend and a number of macroeconomic variables. The study sought to determine the extent to which exchange rate values contribute to inflation and by extension, test the acceptability of the theoretical argument for complete exchange rate pass-through using Nigerian data. Series were confirmed to achieve stationarity at first difference when the Augmented Dickey Fuller test was applied to check the order of integration. Using the Johansen cointegration procedure, it was also established that there is long-run equilibrium relationship among the variables. The results of the Vector Error Correction Model confirmed the response of inflation to exchange rate in Nigeria. Inflation was also found to respond to the global trend of prices and those variables other than openness. Short run adjustment to long run equilibrium is completed within four (4) years and seven (7) months. Supply side measures were recommended as potent in correcting inflationary pressures in Nigeria. Good harmony of monetary and fiscal measures was also recommended to achieve external and internal balance.

Lambert Academic Publishing, 2019

Journal of Public Affairs, 2020

This study investigates the effect of public health expenditure and the ever-depreciating exchang... more This study investigates the effect of public health expenditure and the ever-depreciating exchange rate on household health expenditure while controlling for gross domestic product per capita and consumer price index. We determined the stationarity properties of the series using the Lee and Strazicich, Economic Bulletin, 2013, 33, 2483-2492 and the Augmented Dickey Fuller test to confirm that none of the variables was integrated at an order higher than one. The ARDL bound test for cointegration and the Johansen procedure both confirmed the existence of long-run relationship among the series. From the Autoregressive Distributed Lag Model results, study reveals that public health expenditure has decreasing impact on the incidence of household health expenditure in both the short-and long-run. Household health expenditure is also found to be exchange rate elastic in the long-run. The VECM Granger causality result reveals a long-run unidirectional causality running from public health expenditure, exchange rate, income and domestic prices to household health expenditure. Our study suggests fiscal expansion for health, exchange rate appreciation measures and health risk protection for both the formal and informal sectors.

International Journal of Development and Economic Sustainability , 2018

The paper examined the impact of exchange rate variation on the competitiveness of Nigerian non-o... more The paper examined the impact of exchange rate variation on the competitiveness of Nigerian non-oil exports using the Autoregressive Distributed Lag (ARDL) model after the diagnostic tests reveal that variables were integrated of different orders. The ARDL estimation showed the presence of a long run relationship between the variables in the model. The results revealed that a 1% increase in exchange rate variation, degree of openness and bilateral exchange rate (RER) which measured the competitiveness of the nation's exports will cause a 14.67%, 63.21% and 7.49% reductions respectively in the volume of non-oil exports in the long run. The short run dynamics revealed that the variables above exerted a negative effect on the volume of non-oil exports from Nigeria. The GDP showed positive impacts on the volume of trade both in the short and long run. The study therefore recommended the vigorous pursuance of exchange rate stabilization policies in order to minimize variation in rates and improve the competitiveness of the nation's non-oil exports as well as the imposition of slight restrictions on non-capital imports and consumables to reduce the effect of openness on the Economy.