Growth最新文献_第9页

Strategy and planning for growth 发展战略和规划

Growth Pub Date : 2021-12-08 DOI: 10.4324/9781003149217-3

Joseph C. O'Mahoney

引用次数: 0

A Review of the Unemployment - Economic Growth Nexus in Nigeria from 1980 to 2015: A Disaggregated Approach 1980 - 2015年尼日利亚失业与经济增长关系的回顾:一个分类方法

Growth Pub Date : 2021-12-08 DOI: 10.20448/journal.511.2021.81.48.56

Oyinlola Olaniyi, Muhammad Ali, Adesanya Babatunde Moses

{"title":"A Review of the Unemployment - Economic Growth Nexus in Nigeria from 1980 to 2015: A Disaggregated Approach","authors":"Oyinlola Olaniyi, Muhammad Ali, Adesanya Babatunde Moses","doi":"10.20448/journal.511.2021.81.48.56","DOIUrl":"https://doi.org/10.20448/journal.511.2021.81.48.56","url":null,"abstract":"The phenomenon of jobless growth in Nigeria in recent years has called to question the Okun’s law that the growth of gross domestic product (GDP) reduces unemployment. This study therefore, analyses the nexus between GDP growth and unemployment in Nigeria by disaggregating total output into its sectoral components to analyze the impact of sectoral output on unemployment using data from 1980 to-2015 employing the econometric technique of Autoregressive Distributed Lag (ARDL) bound testing approach. Two ARDL models were specified. The first bound test revealed the existence of co integration between unemployment and GDP growth. The growth of GDP is positively related to unemployment in the long run but a negative relationship was found in the short run. The result of the disaggregated model (i.e the second ARDL model) found no long run relationship between unemployment and agriculture, industry, construction, trade, and services. We opined that the findings of the disaggregated model resulted from the disconnection between aggregate demand and aggregate supply of the productive sectors and the lack of direct linkages between the oil sector and other sectors of the economy. The study recommends that such linkages should be forged through enhanced funding of research and development, technological innovation and the development of value chain of agriculture and solid minerals output. Nigerians should be encouraged to consume locally made products. Efforts should be intensified to develop direct linkages between the oil sector and other sectors through input supply contracts and the development of downstream industries in the oil sector.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91228303","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}

引用次数: 0

Military Outlay and Economic Growth: The Scenarios of Lake Chad Basin Countries of the Republic of Chad and Nigeria 军事开支与经济增长:乍得湖流域国家乍得共和国和尼日利亚的情景

Growth Pub Date : 2021-01-01 DOI: 10.20448/journal.511.2021.81.12.26

Innocent U Duru, M. Eze, Bartholomew O. N. Okafor, Abubakar Yusuf, L. Ede, A. S. Saleh

{"title":"Military Outlay and Economic Growth: The Scenarios of Lake Chad Basin Countries of the Republic of Chad and Nigeria","authors":"Innocent U Duru, M. Eze, Bartholomew O. N. Okafor, Abubakar Yusuf, L. Ede, A. S. Saleh","doi":"10.20448/journal.511.2021.81.12.26","DOIUrl":"https://doi.org/10.20448/journal.511.2021.81.12.26","url":null,"abstract":"This study examined the relationship between military outlay and economic growth in the Lake Chad Basin countries of Nigeria and the Republic of Chad respectively by testing the causal link between these two principal variables. The data ranges used for Nigeria and Chad were 1981-2019 and 1983-2019 respectively. The econometric method employed for this study was the Autoregressive Distributed Lag Bounds approach to cointegration. The results revealed that Nigeria’s military outlay exerted a positive and insignificant relationship with economic growth. However, the Republic of Chad’s military outlay had a positive and significant link with economic growth. The results of the causality test showed that there was no causal relationship between real GDP per capita and military outlay in both Nigeria and the Republic of Chad. These findings for Nigeria and Chad imply that they can pursue the policy objectives of defence and economic growth independently. The study, thus, recommends that the policymakers of the governments of both countries should pursue the policy objectives of defence and economic growth independently. and Independent Corrupt Practices and other Related Offences Commission (ICPC), charged with the responsibility of fighting corruption should rise to the occasion and track down military officials that divert defence funds for individual gains in Nigeria.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"10 11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80397578","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}

引用次数: 2

Investigating the Dynamic Link between External Reserves and Monetary Variables in Nigeria 调查尼日利亚外汇储备与货币变量之间的动态联系

Growth Pub Date : 2021-01-01 DOI: 10.20448/journal.511.2021.81.1.11

Nzeh Innocent Chile, Ahamba Kenneth Onyeanuna, M. Eze, Akaolisa Chidiogo Jane, Nkamnebe Ogochukwu Edith

{"title":"Investigating the Dynamic Link between External Reserves and Monetary Variables in Nigeria","authors":"Nzeh Innocent Chile, Ahamba Kenneth Onyeanuna, M. Eze, Akaolisa Chidiogo Jane, Nkamnebe Ogochukwu Edith","doi":"10.20448/journal.511.2021.81.1.11","DOIUrl":"https://doi.org/10.20448/journal.511.2021.81.1.11","url":null,"abstract":"Nigeria is a country whose revenue base is woven around the oil sector. Consequently, any shock to the international price of oil definitely affects the reserve position of the country. Our major motivation for this study is therefore anchored on the volatile nature of the country’s reserves and how domestic monetary variables respond to shocks in the external reserves as well as possible reverse responses of external reserves to changes in monetary variables. Using monthly series over a period of 2007-2019 and under the framework of the VAR, our findings revealed a dynamic relationship that exists between external reserves and monetary variables in Nigeria. That is, as monetary variables responded to shocks in external reserves, a reverse response was also noticed running from external reserves to changes in monetary variables. The impact of oil to the economy was exhibited in the result as external reserves responded positively to oil price shocks; thus showing the importance of the oil sector to the countr y’s reserve position. We therefore recommend that a synergy should exist between monetary and fiscal authorities in order to neutralize the destabilizing effect of unsustainable increase in reserve inflows and to diversify the economy away from the oil sector to reduce volatility in reserves inflows. External reserves, VAR, Volatility, Impulse response.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"78 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83495306","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}

引用次数: 0

International Capital Inflow and Sub-Saharan African Economy: Does Capital Inflow Lead Growth? 国际资本流入与撒哈拉以南非洲经济:资本流入是否引领增长?

Growth Pub Date : 2020-01-01 DOI: 10.20448/journal.511.2020.71.26.34

Ajisafe Rufus Adebayo, Okunade Solomon Oluwaseun

{"title":"International Capital Inflow and Sub-Saharan African Economy: Does Capital Inflow Lead Growth?","authors":"Ajisafe Rufus Adebayo, Okunade Solomon Oluwaseun","doi":"10.20448/journal.511.2020.71.26.34","DOIUrl":"https://doi.org/10.20448/journal.511.2020.71.26.34","url":null,"abstract":"Sub-Sahara African (SSA) countries have become more integrated with the world economy since the early 1990s leading to a surge in international capital inflows, but have also experienced sporadic downfalls in their growth rates leading to instabilities in some macroeconomic variables. This paper examined the dynamic and causal relationship between economic growth and international capital inflow in SSA using data covering the period of 1990 to 2018. Through Structural Vector Autoregression (SVAR) impulse response and variance decomposition, the study found a positive relationship between growth and international capital inflow in SSA. It also found negative relationships between macroeconomic instability and economic growth; and macroeconomic instability and international capital inflow in SSA. In addition, through VAR Granger Causality or Block Exogeneity Wald Tests, the study found a unidirectional causal relationship running from growth to international capital inflow in SSA. The study also found that international capital inflow did not cause economic growth but economic growth attracts international capital inflows. Therefore, the study concluded that a buoyant and viable economy provides conducive business environment for international investors better than less viable economy. Thus, the study recommended that governments and policy makers in SSA should put in place policies that will promote economic growth to attract more international capital inflows which would augment the scarcely available domestic capital resources most especially in terms of knowledge, skills and other technological advancement, that would later translate into further economic growth in SSA region.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"45 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72862307","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}

引用次数: 1

Foreign Aid and Economic Growth: Empirical Evidence from Nigeria 外援与经济增长:来自尼日利亚的经验证据

Growth Pub Date : 2020-01-01 DOI: 10.20448/journal.511.2020.71.35.50

Innocent U. Duru, Bartholomew O.N. Okafor, Millicent Adanne Eze, Gabriel O. Ebenyi

{"title":"Foreign Aid and Economic Growth: Empirical Evidence from Nigeria","authors":"Innocent U. Duru, Bartholomew O.N. Okafor, Millicent Adanne Eze, Gabriel O. Ebenyi","doi":"10.20448/journal.511.2020.71.35.50","DOIUrl":"https://doi.org/10.20448/journal.511.2020.71.35.50","url":null,"abstract":"This study explored the relationship between foreign aid and economic growth in Nigeria from 1984 to 2017. The Autoregressive Distributed Lag Bounds method to cointegration was employed for this study. The results revealed that foreign aid did not contribute to economic growth in Nigeria. Also, the macroeconomic policy environment did not contribute to economic growth in both the short-run and long-run. Furthermore, the results revealed that the impact of foreign aid on economic growth in Nigeria was contingent on the quality of the macroeconomic policy environment. Hence, the claim that the effectiveness of aid is dependent on the q policy environment was valid for Nigeria. The study, therefore, recommends that the policymakers of the government should put in place a sound macroeconomic policy environment that is stable to stimulate domestic saving and ensure the effective utilization of foreign aid. Besides, there is a need for the diversification of the economy through viable alternatives such as agriculture, industrialization and trade to lessen heavy reliance on foreign aid as a major means of stimulating economic growth. Furthermore, the Economic and Financial Crimes Commission and Independent Corrupt Practices and other Related Offences Commission, established to fight corruption should be effective in their job and convince development partners and other aid donors that it is no longer business as usual for those that divert public resources including foreign aid funds for personal gains and the government should provide incentives to private investors and good enabling environment for the thriving of private businesses.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88310439","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}

引用次数: 2

Fiscal-Monetary Policy Interactions and Macroeconomic Performance in a Small Open Economy: A GMM Approach 小型开放经济中的财政货币政策互动与宏观经济绩效:GMM方法

Growth Pub Date : 2020-01-01 DOI: 10.20448/journal.511.2020.71.1.12

Ojeyinka Titus Ayobami, Y. Olalekan

{"title":"Fiscal-Monetary Policy Interactions and Macroeconomic Performance in a Small Open Economy: A GMM Approach","authors":"Ojeyinka Titus Ayobami, Y. Olalekan","doi":"10.20448/journal.511.2020.71.1.12","DOIUrl":"https://doi.org/10.20448/journal.511.2020.71.1.12","url":null,"abstract":"The study investigates the nature and the effect of fiscal and monetary policy interactions on major macroeconomic variables in a small open economy of Nigeria between 1981 and 2018. The paper employs the generalized method of moment as technique of analysis due to its potential to address the endogeneity issues among the explanatory variables. Findings from the study reveals that interest rate and government expenditure have significant effect on output and inflation. Also, the study finds that fiscal and monetary policy interact as strategic substitutes in Nigeria. This implies that when one policy authority pursues a contractionary measure, the other policymaker counteracts the action using an expansionary policy. It is also revealed that the effect of fiscal and monetary policy interactions on output and inflation is negative and significant. This implies that the two policies perform better when combined in achieving price stability and sustained output growth in the country. Based on the findings, there is a need for macroeconomic policy coordination in Nigeria to optimise the macroeconomic objectives of the country. The study investigated the nature and the effect of fiscal and monetary policy interactions on output and inflation in a small open economy of Nigeria on quarterly data between 1981 and 2018.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"87 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79372234","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}

引用次数: 3

International Financial Reporting Standards Adoption and Liquidity Performance of Food and Beverages Listed Companies: Empirical Evidence from Nigeria 国际财务报告准则的采用与食品饮料上市公司的流动性表现:来自尼日利亚的经验证据

Growth Pub Date : 2019-01-01 DOI: 10.20448/journal.511.2019.61.20.26

Abubakar Sambo Junaidu, Haruna Ahmadu

{"title":"International Financial Reporting Standards Adoption and Liquidity Performance of Food and Beverages Listed Companies: Empirical Evidence from Nigeria","authors":"Abubakar Sambo Junaidu, Haruna Ahmadu","doi":"10.20448/journal.511.2019.61.20.26","DOIUrl":"https://doi.org/10.20448/journal.511.2019.61.20.26","url":null,"abstract":"Despite the relevance and adaptations of International Financial Reporting Standard (IFRS) in Nigeria, the literature indicates very few studies have attempted to investigate the effect of IFRS adoption to the firm’s performance, specifically, the relationship between IFRS adoption and liquidity performance of food and beverages listed companies in Nigeria. The literature suggests that there is not only limited information on the impact of IFRS adoption but also little research in this important area of study. Based on this information and research gab, the objective for the study is to investigate the effect of IFRS adoption on liquidity performance of food and beverages listed companies in Nigeria. By using Secondary data was collected from the annual reports of the sample companies. Multiple ordinary least square (OLS) regression was used to analyse the data collected from the audited financial statements of the sampled companies. I-T test and J-T test were also applied to test for any significant increase in firm performance after the adoption of IFRS. The analysed result showed that there is significant relationship between IFRS adoption and liquidity performance of food and beverages companies listed in the NSE. The implication of this study is that, the practice of the adoption of IFRS should be given more emphasis by organisations in Nigeria. The finding of the study indicates that, organisations that adopt IFRS would be able to improve their liquidity performance.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78452559","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}

引用次数: 0

Time Preferences, Intertemporal Optimization, and the Permanent Income-Life Cycle Hypothesis 时间偏好、跨期优化与永久收入-生命周期假说

Growth Pub Date : 2019-01-01 DOI: 10.20448/journal.511.2019.61.1.11

Hiroaki Hayakawa

{"title":"Time Preferences, Intertemporal Optimization, and the Permanent Income-Life Cycle Hypothesis","authors":"Hiroaki Hayakawa","doi":"10.20448/journal.511.2019.61.1.11","DOIUrl":"https://doi.org/10.20448/journal.511.2019.61.1.11","url":null,"abstract":"This paper analyzes how the three lines of development, namely, the structure of dynamic recursive preferences, Pontryagin's maximum principle, and the permanent income-life cycle hypothesis, are interrelated in the context of consumer choice in continuous time. First, by introducing variational changes in consumption around two different points in time that are compensating to the lifetime utility or having canceling effects on asset accumulation, we define and compute the marginal rates of substitution and transformation and express the optimality condition in terms of the instantaneous time rates of change of these rates. This condition is then related to the Bohm-Bawerkian and Fisherian rates of time preference, which are defined, calculated, and shown to give an equivalent measure whether inclusive of the first order change of consumption or not. The Keynes-Ramsey rule of consumption is related to this optimality condition and is given a new interpretation. Second, we inquire into the preference basis of the permanent income-life cycle hypothesis and show explicitly that the proportionality of optimal consumption to wealth and permanent income follows from the homotheticity of recursive time preferences and a dynamic budget constraint, thereby confirming that the hypothesis, as originally conceived by Friedman and Modigliani-Brumberg, is a dynamic version of the static demand under homothetic preferences.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"50 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88218000","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}

引用次数: 2

Implementation of Green Tax in Malaysia: An Exploratory Study 马来西亚实施绿色税的探索性研究

Growth Pub Date : 2019-01-01 DOI: 10.20448/journal.511.2019.61.12.19

Natrah Saad, Z. Z. Ariffin

{"title":"Implementation of Green Tax in Malaysia: An Exploratory Study","authors":"Natrah Saad, Z. Z. Ariffin","doi":"10.20448/journal.511.2019.61.12.19","DOIUrl":"https://doi.org/10.20448/journal.511.2019.61.12.19","url":null,"abstract":"This study provides empirical evidence on the perception of green tax mechanisms that are currently implemented in Malaysia. This study is undertaken in response to increasing incidents of environmental degradation taking place in our country as a result of business activities. In particular, this study sets to explore the current practice of green tax in Malaysia and its effectiveness in achieving the intended goal of green environment. For that purpose, a qualitative approach of data collection was conducted, mainly through interviews and document review. Hence, 11 participants representing government agencies and industries were interviewed and data gathered were transcribed and analysed accordingly using thematic analysis. Annual reports and performance reports were also reviewed to complement the findings. Among others, the findings indicate that green tax practice in Malaysia is merely focused on incentive-based which are under jurisdiction of Malaysian Investment Development Authority and the Inland Revenue Board Malaysia (IRBM). The authority to impose penalties (which are not related to tax) rests with the Department of Environment. The practice is slightly different from the developed country which blends both incentive-based and penalty-based under jurisdiction of the tax authority. It is hoped that these findings would assist the relevant agencies to formulate the strategies in their effort to preserve our natural heritage.","PeriodicalId":75887,"journal":{"name":"Growth","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84702292","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}

引用次数: 4