International Journal of Advanced Economics最新文献

{"title":"Monetary policy transmission tools and private sector performance – the Nigerian experience","authors":"Owen Affor Maku, Gabriel Osakwe Ikediashi","doi":"10.51594/ijae.v6i5.1159","DOIUrl":"https://doi.org/10.51594/ijae.v6i5.1159","url":null,"abstract":"Credit to private sector is considered vital for the stimulation of domestic investment, job creation, economic growth, and general improvement in the standard of living of the people. This is because the economic activity in the private sector significantly complements governments’ efforts in attaining macroeconomic objectives, globally. However, as laudable as the benefits of credit to private sector has been in catalyzing private sector performance in developed economies, the situation in most transitioning economies, particularly, Nigeria has been far from satisfying. Several studies in academic literature have identified political instability, poor institutional framework, absence of fiscal transparency, macroeconomic factors and frequent policy changes as having significant constraining influences on credit availability in Nigeria with plausible recommendations to private sector performance. However, the absence of noticeable improvement over the years, and its accompanying growth-retarding multiplier effects on domestic investment and productivity in Nigeria has instigated more concentrated studies on the direct impact of monetary policy framework in the determination of the performance of private sector through credit availability. Therefore, this study empirically evaluates the impact of key monetary policy toolkits on the availability of private sector credits and performance in Nigeria. To this end, annual time series secondary data from 1993 to 2023 were sourced from National Bureau of Statistics and Central Bank of Nigeria Statistical Bulletins for various years within the study period. The study adopts Autoregressive Distributed Lag (ARDL) estimation technique after carrying out pre-diagnostic tests such as ADF unit root test and Bound Cointegration test. Our result reveals that money aggregates (MAG) is positive and significant in explaining variations in private sector credit and performance. Further results reveal that monetary policy rate (MPR), open market operations (OMO) and inflation rate (INR) impacted negatively on the performance of private sector in Nigeria within the study period. Therefore, the  study concludes that the performance of the private sector in Nigeria will improve with increased credit availability, which is positively influenced by systematic increase in money aggregates and efficiently expanded monetary policy framework. The study recommends adoption of a harmonious blend of a more relaxed monetary policy framework with purposeful compliant-based regulation that will free up liquidity for increased private sector credits and performance. \u0000Keywords: Credit to Private Sector, Monetary Policy Rate, Open Market Operations and Money Aggregates.","PeriodicalId":503769,"journal":{"name":"International Journal of Advanced Economics","volume":"24 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141118237","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"PERFORMANCE OF FARM BUSINESS SCHOOL (FBS): A CASE STUDY OF COCOA FARMERS IN NIGERIA","authors":"Temitope Abiodun Oluwalade, Ademola Adegoroye, Christianah Mope, Oluwatosin Ayotomide Olorunfemi","doi":"10.51594/ijae.v5i9.655","DOIUrl":"https://doi.org/10.51594/ijae.v5i9.655","url":null,"abstract":"The study empirically examined the performance of farm business school among cocoa farmers in Nigeria. Primary data were used for this study. The data were collected with the aid of structured questionnaire and 300 respondents were randomly selected through a multistage sampling technique. Descriptive statistics, budgetary techniques and multiple regression were employed to analyze the data. The results showed that the average age was about 54 years and the enterprise is male dominated. About 93.4% and 91.9% were married with nearly 91.7% and 89.7% had at least primary school education for the FBS participants and non-participants, respectively. The average household size was about 8 persons for both groups. Despite that there are no significant differences in the socioeconomic characteristics of the farmers, FBS participants made more benefits than the non-participants in the area. The profit of the FBS participants (N616,297.53) is greater than that of the non-participants (N41,616.08) while the return on investment of FBS participants (2.48) was far more than double of the non-participants. The determinant factors of the FBS participants are age, education, experience, application of agrochemicals and utilization of credit while variables such as age, education, household size and labour cost significantly influence profit of the non-participants in the area. Based on these findings, it can be recommended that monetary policies should be made to encourage lending institutions to administer loans to cocoa farmers in FBS at a lower interest rate as well as the timely release of funds. This will encourage more farmers to participate in the FBS and also help in reducing cost on major agricultural inputs. Keywords: Cocoa, Farm Business School, Participants, Profitability, Socioeconomic, Nigeria","PeriodicalId":503769,"journal":{"name":"International Journal of Advanced Economics","volume":"50 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139174168","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}