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  1. Revisiting the trade and unemployment nexus
    empirical evidence from the Nigerian economy
    Autor*in: Onifade, Stephen T.; Ay, Ahmet; Asongu, Simplice; Bekun, Festus Victor
    Erschienen: [2019]
    Verlag:  African Governance and Development Institute, [Yaoundé]

    The recent exacerbation of unemployment crisis in Nigeria stands to be a serious threat to both socio-economic stability and progress of the country just as the report from the nation's bureau of statistics shows that at least over 8.5 million people... mehr

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    DS 524
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    The recent exacerbation of unemployment crisis in Nigeria stands to be a serious threat to both socio-economic stability and progress of the country just as the report from the nation's bureau of statistics shows that at least over 8.5 million people had no gainful employment at all as at the last quarter of the year 2017. It is on the above premise, that the present study explores the link between trade and unemployment for the case of Nigeria with the intention of exploring how the unemployment crisis has been impacted within the dynamics of the country's trade performance. The empirical evidence shows that the nation's terms of trade were insignificant to unemployment rate while trade openness and domestic investment, on the other hand, have significant opposing impacts on unemployment in Nigeria over the period of the study. Further breakdowns from the empirical analysis also revealed that the Philips curves proposition is valid within the Nigerian economic context while the evidences for the validity of Okun's law only exist in the short-run scenario. Based on the empirical results, we recommend that concerted effort should be geared toward stimulating domestic investment by providing adequate financial and infrastructural facilities that will promote ease of doing business while utmost precautions are taken to ensure that unemployment crisis is not exacerbated when combating inflation in the economy in the wake of dynamic trade relations.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/227957
    Schriftenreihe: AGDI working paper ; WP/19, 079
    Umfang: 1 Online-Ressource (circa 22 Seiten), Illustrationen
  2. An empirical retrospect of the impacts of government expenditures on economic growth
    new evidence from the Nigerian economy
    Autor*in: Onifade, Stephen T.; Çevik, Savaş; Erdoğan, Savaş; Asongu, Simplice; Bekun, Festus Victor
    Erschienen: 2019
    Verlag:  African Governance and Development Institute, [Yaoundé]

    The impacts of public expenditures on economic growth have been revisited in this paper with respect to capital expenditure, recurrent expenditure and the government fiscal expansion in line with support for the budgetary allocations to various... mehr

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    DS 524
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    The impacts of public expenditures on economic growth have been revisited in this paper with respect to capital expenditure, recurrent expenditure and the government fiscal expansion in line with support for the budgetary allocations to various sectors in the context of the Nigerian economy. The Pesaran ARDL approach has been applied to carry out the impact analysis using annual time series data from 1981 to 2017. Empirical findings support the existence of a level relationship between public spending indicators and economic growth in Nigeria. Incisively, recurrent expenditures of government were found to be significantly impacting on economic growth in a negative way while the positive impacts of public capital expenditures were not significant to economic growth over the period of the study. Further results from the granger causality test reveal that fiscal expansion of the government that is hinged on debt financing is strongly granger causing public expenditures and domestic investment with the latter also granger causing real growth in the economy. We, therefore, provide some important policy recommendations following the results of the empirical analysis.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/227967
    Schriftenreihe: AGDI working paper ; WP/19, 096
    Umfang: 1 Online-Ressource (circa 20 Seiten), Illustrationen
  3. Extending the frontiers of financial development for sustainability of the MENA states
    the roles of resource abundance and institutional quality
    Autor*in: Onifade, Stephen T.; Gyamfi, Bright Akwasi; Haouas, Ilham; Asongu, Simplice
    Erschienen: [2023]
    Verlag:  African Governance and Development Institute, [Yaoundé]

    Resource abundance characterizes economies within the MENA region from North Africa to the Middle East. As such, to improve financial development (FD) for regional economic sustainability, this study provides a comprehensive analysis of the roles of... mehr

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    Resource abundance characterizes economies within the MENA region from North Africa to the Middle East. As such, to improve financial development (FD) for regional economic sustainability, this study provides a comprehensive analysis of the roles of natural resources abundance and institutional quality indicators on the region's FD while underscoring the inflationary levels and general economic growth trends amidst rising globalization. The adopted empirical strategy (CS-ARDL and AMG) is employed for potential cross-sectional dependency (CD) and slope homogeneity in the regional data spanning over two decades (2000-2020). Unlike the extant literature, two separate regional FD indicators were considered for an insightful analysis namely, banking financial services via domestic credit to private sector, and financial stability via the Z-score values showing the tendencies of default in a country's banking structure. Regardless of the FD indicator, the results reveal that natural resources, growth trends, and inflationary levels significantly spur long-run regional FD thereby invalidating the financial resource curse hypothesis in the region. Furthermore, both institutional quality levels and globalization produced detrimental impacts on FD levels. However, the interaction between institutional quality levels and natural resources shows a desirable FD-stimulating effect in the region, noticeably when FD is proxied by the Z-score. Thus, implying that stronger institutions are crucial for MENA's overall financial stability vis-à-vis reduction in the risk of default in the banking system. Hence, policy recommendations including the strengthening of institutional capacities among others, were suggested to regional authorities towards harnessing resources for sustainable regional FD.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: AGDI working paper ; WP/23, 055
    Schlagworte: Natural resources; Financial development; Institutions; MENA region; Sustainable growth
    Umfang: 1 Online-Ressource (circa 32 Seiten)
  4. Government size, openness and income risk nexus
    new evidence from some African countries
    Autor*in: Nwaka, Ikechukwu Darlington; Onifade, Stephen T.
    Erschienen: December 2015
    Verlag:  African Governance and Development Institute, [Yaoundé]

    Empirical evidence for the compensation hypothesis holds that trade openness independent of income risk has no significant effects on government size. Hence, using time series data for the period 1965-2013 from Egypt, Ghana, Kenya, Nigeria and South... mehr

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    Empirical evidence for the compensation hypothesis holds that trade openness independent of income risk has no significant effects on government size. Hence, using time series data for the period 1965-2013 from Egypt, Ghana, Kenya, Nigeria and South Africa and applying the bounds test method of cointegration, this paper investigates the nature of the relationship between openness, income risk, terms of trade volatility and income per capita on government size in each of the 5 African countries. Our empirical findings show a long-run relationship particularly in Egypt and Ghana and a limited evidence for other countries. Similarly, after applying both the Autoregressive Distributed Lags (ARDL) and Fully Modified OLS (FM-OLS) on original data and Moving Average (MV) converted data, our findings vary across the countries due to country-specific factors. Hence, the evidence we find does not support the compensation hypothesis. However, we observe significant positive effects of income per capita on government size for each country and some evidence of the mitigating and cushioning effects of governments when exposed to income risks and volatility due to trade openness. We therefore suggest some appropriate policy recommendations for the selected countries.

     
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    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/149917
    Schriftenreihe: AGDI working paper ; WP/15, 056
    Umfang: 1 Online-Ressource (circa 25 Seiten), Illustrationen