Economic Growth In Nigeria
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Balance Of Payments Constrained Economic Growth In Nigeria
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Author : Emmanuel Igbinoba
language : en
Publisher: GRIN Verlag
Release Date : 2015-05-13
Balance Of Payments Constrained Economic Growth In Nigeria written by Emmanuel Igbinoba and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-13 with Business & Economics categories.
Essay from the year 2014 in the subject Business economics - General, , language: English, abstract: This paper assesses the Thirwall's balance of payment(BOP) constrained model by applying it on the Nigerian economy and employing cointegration method to observe the relationship between economic growth and current account balance equilibrium. While extensive research study on economic growth concentrate on the neoclassical supply-oriented approach based on the production function and full employment, Harrod(1939) emphasized that demand generated growth determine long run economic growth and Thirwall developed a Keynesian perspective of the determinants of growth embedded on a dynamic version of the Harrod's foreign trade multiplier. Thirwall pinpoints the incapability of economic agents to increase aggregate demand indefinitely in open economies as justification for income growth differences across nations. The balance of payment constrained growth model states that a country's economic growth rate is constrained by the desire to generate foreign exchange and reiterate the function of demand as the motivation for domestic growth. This arises because growth in export and investment growth in import substitution are the only aspect of aggregate demand that can increase GDP growth and reduce foreign constraints. This implies that growth rate is constrained by the balance of payment as the economy cannot grow faster than what is consistent with the balance of payment equilibrium. The principle of this Keynesian demand side growth theory is that export capability and import attitude establish long run economic growth. Income derived from external trade constitute the principal medium to finance growing import due to a rise in domestic activities. This model differ from the supply induced growth models which evaluate economic growth by using factor inputs such as savings, human and physical capital, population growth and initial per capital GDP on economic growth. Reservations about the traditional growth models stem from the fact that the factor inputs have inconclusive roles in the growth process in developing countries. Also a lot of the neoclassical assumptions have been observed to be unapplicable in developing or transition economies. The balance of payment constrained model infer that economic growth are stimulated by demand factors and the main constraint on demand is the balance of payment.
Socio Economic Development In Nigeria
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Author : Gesiye S. Angaye
language : en
Publisher:
Release Date : 1995
Socio Economic Development In Nigeria written by Gesiye S. Angaye and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Manpower categories.
Fiscal And Monetary Policy And Economic Growth In Nigeria A Comparative Analysis
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Author : Emmanuel Elakhe
language : en
Publisher: GRIN Verlag
Release Date : 2017-11-20
Fiscal And Monetary Policy And Economic Growth In Nigeria A Comparative Analysis written by Emmanuel Elakhe and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-20 with Business & Economics categories.
Master's Thesis from the year 2016 in the subject Economics - Other, grade: 3.67, , course: Development Economics, language: English, abstract: The study examined the impact of government fiscal and monetary policies on economic growth within the period of 33 years (1981-2014). Time series data were derived from the Central Bank of Nigeria statistical bulletin, while the method of analysis was the Johansen Cointegration test, vector error correction method and the Wald test of coefficient. The result of the findings showed that there is a significant relationship between explanatory variables (government expenditure, interest rate and money supply) taken jointly and the dependent variable (real gross domestic product) in the long run. The coefficient of error correction term is -0.02 showing a 2% yearly adjustment towards the long run equilibrium. This proves that there is a relationship between the dependent variable- real gross domestic product and the independent variables - government expenditure, money supply and interest rate in the long run. The estimated coefficients of the short run model indicate no significant relationship between the dependent variable real gross domestic product and independent variables government expenditure, money supply and interest rates taken together but individually a short run relationship exist between the fiscal variable (government expenditure) and real GDP and between the monetary variable (money supply and interest rate) and real GDP. The policy implication of these findings is that more strategies needs to be put in place in order to ensure that monetary and fiscal policies taken jointly positively impacts on economic growth the in the shortrun.
Impact Of Inflation On Economic Growth In Nigeria In The Context Of An Emerging Market
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Author : Micah Effiong
language : en
Publisher: GRIN Verlag
Release Date : 2020-03-25
Impact Of Inflation On Economic Growth In Nigeria In The Context Of An Emerging Market written by Micah Effiong and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-25 with Business & Economics categories.
Research Paper (undergraduate) from the year 2016 in the subject Economics - Economic Cycle and Growth, grade: A, , language: English, abstract: The study was conducted to evaluate the impact of inflation on economic growth in the context of an emerging market using empirical evidence from Nigeria. Using time series data spanning forty one years (1970-2011) which was obtained from the Central Bank of Nigeria (CBN) statistical bulletin volume 22, and Central Bank of Nigeria official website, the nature of the relationship existing between the focus variables - economic growth (proxied by real Gross Domestic Product, GDP) and inflation rate was explored. The Augmented Dickey Fuller (ADF) and Philip-Perron (PP) tests were used to test for the stationary of the variables while the granger causality test was employed to ascertain the direction of influence between inflation and economic growth in Nigeria. The follow research questions guided this study: What is the trend of inflation in Nigeria? Why have all the policies used unable to reduce inflation rate to an acceptable level? What is the impact of inflation of Nigerian economic growth? Inflation growth has been the macro-economic problem in Nigeria that seems to be intractable over the years; Nigeria government has adopted various measures (both monetary and fiscal policies) to curb or reduce inflation growth to an acceptable level but all these policies seem to have no effects. This gave rise to the following research questions.
Nigerian Economy
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Author : Milton A. Iyoha
language : en
Publisher:
Release Date : 2002
Nigerian Economy written by Milton A. Iyoha and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Nigeria categories.
Implication Of Big Push Theory On Nigerian Economic Development
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Author : Erhunse Confidence
language : en
Publisher: GRIN Verlag
Release Date : 2020-02-19
Implication Of Big Push Theory On Nigerian Economic Development written by Erhunse Confidence and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-19 with Business & Economics categories.
Seminar paper from the year 2020 in the subject Economics - Economic Cycle and Growth, grade: 4, Chukwuemeka Odumegwu Ojukwu University (Social Sciences), language: English, abstract: This paper examined the implication of Big-Push theory on Nigerian economic development. The theory provided an explanation of how developing countries can industrialize through broad-based investment and coordination. The paper looked at the meaning of Big-Push theory, assumptions and its implication on Nigeria economic development. If the need for a Big Push to survive in an economy that is open to international trade and capital movements, or if openness to trade and capital movements is sufficient to overcome all poverty traps, these questions have daunted development economics since its inception. The theory of the big push asserts that underdeveloped countries require large amounts of investments to come out of the problem of backwardness and launch policies for economic development. The logic behind this theory is that a programme of “bit-by-bit” investment will not have much impact on the process of growth and will only lead to a dissipation of resources. Policies designed to encourage the development of the Nigerian economy will need to be guided by the big-push theory.
Tax Structure And Economic Growth In Nigeria
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Author : Damian Nwosu
language : en
Publisher: GRIN Verlag
Release Date : 2011-12
Tax Structure And Economic Growth In Nigeria written by Damian Nwosu and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12 with Business & Economics categories.
Master's Thesis from the year 2010 in the subject Economics - Economic Cycle and Growth, grade: M.Phil/PhD, University of Ibadan, course: Economis, language: English, abstract: This study examined the relationship between tax structure and economic growth in Nigeria using annual data between 1970 to 2007. The motivation is to track the impact of the observed change in the tax structure on economic growth in order to inform policy. Two tax structures namely pre Value Added Tax (VAT) and post VAT were identified and their impacts evaluated. The empirical analysis was anchored on the endogenous growth theoretical framework which allowed for linking tax structures to growth. Econometric models were then developed to explore the relationship between the identified tax structures and economic growth. The first model present a growth equation with average tax rate variable, while the second model is where the specific tax variables were included alongside variables in the first model. The third, fourth and fifth models were used to test the robustness of the second model. This was accomplished basically by introducing additional variables. Prior to the empirical estimations, the standard tests of unit root and co-integration analysis were conducted to ascertain the appropriate estimation procedure and technique(s) to use. The unit root test show that all the variables of the models are stationary at the first difference, while the co-integration analysis indicates that one model out of the five models had no co-integrating relationship, while the rest had co integrating relationships. On the basis of these tests results, the model for which we found no co-integrating relationship was estimated using the Vector Auto Regression (VAR) technique while the others with co-integrating relationship were estimated via the Error Correction Modeling (ECM) technique. Further to this, the Granger Causality test was also conducted to ascertain the direction of causality among the variab
Fdi And Economic Growth
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Author : Adeolu B. Ayanwale
language : en
Publisher:
Release Date : 2007
Fdi And Economic Growth written by Adeolu B. Ayanwale and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Investments, Foreign categories.
Globalization And Economic Growth
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Author : A. Maduka
language : en
Publisher:
Release Date : 2017
Globalization And Economic Growth written by A. Maduka and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Globalization has over the years been widely celebrated as one of the keys to economic growth and development. The international competitiveness resulting from the integration of the world into a global village has brought tremendous progress to the world economy. Regrettably, since the integration of the Nigerian economy into the global economy, the growth pattern of the economy has remained below expectation when compared with other countries of the world. This had in the recent time generated hearted debates among the Nigerian economic researchers on whether globalization is actually a key to economic growth. Thus, the study uses the contemporary econometric techniques of cointegration and error correction mechanism within the framework of the Pesaran et al. (2001) ARDL model to examine the impact of globalization on economic growth in Nigeria. Using annualized secondary time series data from 1970 to 2015, the study reveals that trade openness; financial integration and foreign direct investment have significant positive impact on economic growth in Nigeria. Thus, adequate mechanism should be put in place to ensure that globalization brings about the desired pace of economic growth.
The Nigerian Economy
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Author : Tijani M. Yesufu
language : en
Publisher:
Release Date : 1996
The Nigerian Economy written by Tijani M. Yesufu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Nigeria categories.