Sumerianz Journal of Economics and Finance

    
Online ISSN: 2617-6947
Print ISSN: 2617-7641

Quarterly Published (4 Issues Per Year)

Journal Website: https://www.sumerianz.com/?ic=journal-home&journal=26

Archive

Volume 1 Issue 1 (2018)

Economic Growth and Poverty Reduction in Nigeria

Authors : Agbasi Obianuju Emmanuela ; Edoko Tonna David ; Ezeanolue, Uju Scholastica
Abstract:
This study examined the impact of economic growth on poverty reduction in Nigeria. This study was informed by the rising poverty level in the country. it was argued that despite concerted efforts made by successive government through one form of poverty reduction programme and the other to combat poverty still soars in the country.  in order to address the conundrum the study modelled selected macroeconomic variables (poverty, unemployment, population, mortality rate, life expectancy rate, corruption, consumption, per capita income, illiteracy rate) and Gross Domestic Product (GDP) in Nigeria using an econometric regression model of the Ordinary Least Square (OLS) to ascertain the effect and relationship in the country’s poverty-growth nexus. Findings revealed that there is significant effect and relationship between poverty, unemployment, mortality rate, consumption and Gross Domestic Product (GDP) in Nigeria. Based on the findings of this study, the following recommendations are made: Nigeria poverty reduction programmes should be designed to be measurable and realistic. By targeting the felt need and occupational engagement of the people. Supervised capacity building before and after the implementation of the programmes is imperative. This will help address the challenge of unemployment occasioned by failures of businesses supported by the government. The leadership should cultivate a decisive spirit of patriotism and nationalism which will reinforces itself in high level trust, mutual coexistence, stability and development that will permit accountability, transparency and openness which in the long run would help increase economic growth and reduce poverty. Continued investment in human capital as in use of ICT to educate the poor, can boost the living standards of households by expanding opportunities, raising productivity, attracting capital investment, and increasing earning power. Also, holistic effort should be made by governments to improve basic human welfare in both health and social infrastructure that will eventually reduce the high rate of child mortality as well as improve standard of living.

Pages: 31-36

An Empirical Investigation into the Effects of Crude Oil Price on Government Revenue in Nigeria

Authors : Babalola Adedayo Emmanuel ; Akindele Olawale Olamide ; Rotimi Olufemi Henry
Abstract:
Nigeria’s vulnerability to crude oil price fluctuations is a phenomenon which has become reoccurring effects and there was the need for emphasis on the need to establish the relationship effects of crude oil price on the Nigeria government revenue. This study, therefore, examined the impacts of oil price shock on government revenue in Nigeria, and, also analyzed its trend within the period under study (1983 – 2016). This study employed Vector Autoregressive (VAR) model to examine the short and long-run effects of crude oil price distortions on revenue in Nigeria. The impulse response analysis was carried out, the trend analysis was demonstrated and the time series properties of the data were tested by ADF unit root. The study found that government revenue was characterized with trended swing movements in same directions as the world oil price. The government revenue was negatively and significantly impacted by the world oil price in the first period and second period (-9.59006 and -9.82006 respectively). However both in the short run and long run, government revenue declined as a result of the impact of the world oil price shock. Consequently, the study suggested that the policy makers should focus on policy that will strengthen and stabilize the macroeconomic structure of the Nigerian economy with specific focus on alternative sources of government revenue (reduction of dependence on oil proceeds and diversify) and ensure fiscal discipline in governance.

Pages: 22-30

Foreign Exchange Market Efficiency in Nigeria (The Past and Current Exchange Rate Returns)

Authors : Akindele Olawale Olamide
Abstract:
The foreign exchange market in Nigeria has always been much in contention as to its inefficiency and consequent impact on various sectors of the economy. This study therefore assessed the efficiency of the foreign exchange market in Nigeria, and by extension, test whether the past exchange rate affected the current exchange rate returns. The scope of the study covered the period from 1985 - 2016. The data employed were secondary time-series data. The data were analyzed with two equations and estimated using Fully Modified Ordinary Least Square Approach (FMOLS). The time series properties of the data were tested by the use of ADF unit root test and Co-integration test. The finding of the study revealed that oil price, GDP, inflation rate, and interest rate have positive and significant relationships with exchange rate; while broad money supply (M2) has a negative relationship with exchange rate. Also, previous exchange rate returns has negative and insignificant relationship with current exchange rate returns. The study thereby concluded that the exchange rate market in Nigeria is inefficient. It was therefore recommended the monetary authorities should ensure transparency in determining exchange rate process such that various economic distortions associated with exchange rate can be minimized, and strict monetary policies should be pursued. Also, a properly designed and execution of fiscal and monetary policies should be adopted and diversification of the economy a priority.

Pages: 14-21

Determinants Affecting Regulatory Education and Management Knowledge Practices on Financial Performance, an Analysis of Pakistan

Authors : Nisar Ahmad Bazmi ; Muqqadas Rehman ; Chaudhary Abdul Rehman
Abstract:
This study is an attempt to achieve this either of two regulatory practices of any Regulatory education and knowledge Administration system of the groups have the ability to influence the performance of the group or not for the purpose of practitioners and academics working on this subject. It has been reviewed and the conclusion that it has become in this changing business environment quickly appears Inevitable for groups to invest in education Administration system and Regulatory information to increase the information cause of its employees. This knowledge affects the financial performance of the non-financial staff. So all of the factors considered directly affect the group’s performance. This study has also pointed out the various dimensions of education and Regulatory knowledge Administration system.

Pages: 9-13

The Role of Arts and Social Science Education on the Growth and Development of the Nigerian Economy

Authors : Oniovosa Stanley Oghenenyerhovwo
Abstract:
This paper studied the role of arts and social science education on the growth and development of the Nigerian economy. The relevance of arts and social science education in reforming the Nigerian state was overemphasized. The paper explained terms such as arts, social science, education, economic growth and economic development. The contributions of arts and social sciences to national transformation and economic development were reviewed. The paper revealed that art education empowers individuals with creative skills that widen the base of participation in the society, create jobs, self reliance, identity, communicates by creating, recording and transferring ideas, builds and perpetuates social, religious, political and economic stability. It posited that arts and social science are very important aspects of our education and should not be treated otherwise but should be given premium like other subjects in the curriculum of schools. The need for improving on the system of arts and social science education in Nigeria’s tertiary institutions was stressed. It was concluded that policy-making processes in the nation’s education sector should be tilted towards making arts and social sciences engines for the growth and development of the Nigerian economy and relevant research findings/recommendations in arts and social sciences should be implemented.

Pages: 1-8