scholarly journals Harnessing The Potentials of Non-Oil Sectors of The Nigerian Economy to Enhance Sustainable Growth

2021 ◽  
Vol 10 (1) ◽  
pp. 51-62
Author(s):  
Emmanuel Ifeanyi Ajudua ◽  
Enesi Chukwuemeka Majebi ◽  
Vivian Anietem Odishika
Keyword(s):  
Time Series Data ◽  
Unit Root Test ◽  
Sustainable Growth ◽  
Series Data ◽  
Agriculture Sector ◽  
Augmented Dickey Fuller ◽  
The Face ◽  
Nigerian Government ◽  
Price Instability ◽  
Bound Test

In the face of global oil price instability, which seems to negatively impact the Nigerian economy, this study examined how the Nigerian government and its stakeholders have explored other sectors of her economy, such as agriculture, manufacturing, and tourism, enhancing sustainable growth. In achieving this, the study employed a time series data covering 24 years (1995-2018). The variables used in the study were real gross domestic product (RGDP), tourism share of GDP, agriculture share of GDP, and manufacturing share of GDP. The unit root test using the Augmented Dickey-Fuller test was conducted to test for stationarity among variables employed. The Autoregressive Distributive Lag Bound Test for Co-integration was also employed, while the ECM was also conducted to check for the speed of adjustment.The study findings revealed that, while the Nigerian government and industry stakeholders have made significant investments in the agriculture sector through the development of improved seedlings and farm infrastructure, there is a need for more investment in the manufacturing and tourism sectors of the nation's economy to boost her gross domestic product.JEL Classification: O13, O14, Q01, Z32How to Cite:Ajudua, E. I., Majebi, E. C., & Odishika, V. A. (2021). Harnessing The Potentials of Non-Oil Sectors of The Nigerian Economy to Enhance Sustainable Growth. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 51-62. https://doi.org/10.15408/sjie.v10i1.18493.

EMPIRICAL ANALYSIS OF INDIA’S FOREIGN TRADE AND ECONOMIC GROWTH

2020 ◽  
Vol 8 (10) ◽  
pp. 105-111
Author(s):  
Khujan Singh ◽  
Anil Kumar
Keyword(s):  
Time Series Data ◽  
Unit Root Test ◽  
Series Data ◽  
Significant Implication ◽  
Causality Test ◽  
First Order ◽  
Long Run ◽  
Directional Relation ◽  
Augmented Dickey Fuller ◽  
Vecm Granger Causality

The present study is an attempt to examine long run relationship among India’s GDP, Exports and Imports for which yearly time series data from 1995 to 2018 has been collected. Data for India’s GDP has been collected from RBI website and India’s export and import data has been collected form Ministry of Commerce and Industry website. The Augmented Dickey-Fuller unit root test for stationarity found that studied variables become stationary at first order of difference. While, Johnson cointegration test revealed long run cointegration between India’s GDP, exports and imports. The results of VECM Granger causality test exhibited bi-directional relationship between India’s GDP and India’s exports, whereas uni-directional relation has been found between India’s GDP and India’s imports. These results have significant implication for India’s export import policy and to achieve a target of $5 trillion economy till 2024-2025.

scholarly journals Panel Econometric Analysis on Mobile Payment Transactions and Traditional Banks Effort toward Financial Accessibility in Sub-Sahara Africa

2020 ◽  
Vol 12 (3) ◽  
pp. 895 ◽  
Author(s):  
Cephas Paa Kwasi Coffie ◽  
Hongjiang Zhao ◽  
Isaac Adjei Mensah
Keyword(s):  
Time Series Data ◽  
Unit Root Test ◽  
Panel Cointegration ◽  
Ordinary Least Squares ◽  
Sustainable Growth ◽  
Series Data ◽  
Mobile Payment ◽  
Cross Sectional ◽  
Mobile Payments ◽  
Long Run

The financial landscape of sub-Sahara Africa is undergoing major changes due to the advent of FinTech, which has seen mobile payments boom in the region. This paper examines the salient role of mobile payments in traditional banks’ drive toward financial accessibility in sub-Sahara Africa by using panel econometric approaches that consider the issues of independencies among cross-sectional residuals. Using data from the World Development Index (WDI) 2011–2017 on 11 countries in the region, empirical results from cross-sectional dependence (CD) tests, panel unit root test, panel cointegration test, and the fully modified ordinary least squares (FMOLS) approach indicates that (i) the panel time series data are cross-sectionally independent, (ii) the variables have the same order of integration and are cointegrated, and (iii) growth in mobile payment transactions had a significant positive relationship with formal account ownership, the number of ATMs, and number of new bank branches in the long-run. The paper therefore confirms that the institutional structure of traditional banks that makes them competitive, irrespective of emerging disruptive technologies, has stimulated overall financial accessibility in the region leading to overall sustainable growth in the financial sector. We conclude the paper with feasible policy suggestions.

scholarly journals Health Status, Labour Productivity and Economic Growth in Nigeria

2019 ◽  
pp. 1-12
Author(s):  
Kelani, Fatai Adeshina ◽  
Odunayo, Henry Adewale ◽  
Ozegbe, Azuka Elvis ◽  
Nwani, Stanley Emile
Keyword(s):  
Economic Growth ◽  
Health Status ◽  
Time Series Data ◽  
Labour Productivity ◽  
Unit Root Test ◽  
Developed Countries ◽  
Policy Framework ◽  
Series Data ◽  
The Impact ◽  
Bound Test

The quest for rapid economic growth and development has pre-occupied the minds of researchers and policy makers most especially in less developed countries. This has resulted to empirical inquiry into the causes of growth in a sustainable term. This study therefore examines the impact of health status and labour productivity on economic growth in Nigeria. By utilizing annual time series data from 1981 to 2017, the study carried out ADF unit root test to ascertain the stationarity of the series. The result confirms that the series were stationary at levels and t first difference, hence, the adoption of ARDL bound test to Co-integration. The empirical estimates of the parameters of the model show that both health status and labour productivity have positive impacts on economic growth in Nigeria. This follows economic theory as expected. A further analysis of the significance of the estimates reveals that health status plays a significant role in Nigerian growth process. However, labour productivity fails to significantly impact on growth episodes in Nigeria. Other variable which stimulates economic growth in the country is gross fixed capital formation. The study therefore recommends a policy framework towards improvement in the quality of labour through adequate funding of education and re-tooling the educational system to enhance labour productivity for a more robust growth of the economy.

scholarly journals Impacts of the renewable-energy consumptions on Thailand's economic development: Evidence from Cointegration Test

2020 ◽  
Vol 8 (2) ◽  
pp. 57-67
Author(s):  
Snober Fazal ◽  
Seemab Gillani ◽  
Mariam Amjad ◽  
Zulqarnain Haider
Keyword(s):  
Time Series ◽  
Economic Development ◽  
Renewable Energy ◽  
Time Series Data ◽  
Renewable Energies ◽  
Series Data ◽  
Test Model ◽  
Augmented Dickey Fuller ◽  
Robust Measures ◽  
Bound Test

Thailand is one of the biggest developing nations of 'Southeast Asia,' economy which use heavy amount of renewable energy. So, this research mainly focuses on the paradigm that examines the effects of renewable energy, and it has combined the nation's economic development predictions. To verify this, time-series data from the year 1990 the up-to-the year 2018 utilized for the examination. The research utilized the (ARDL) Auto-Regressive-Distributive-Lag with Bound test model to confirm the relationship between renewable energy and economic growth in Thailand. Time series data is use in this study so (ADF) Augmented-Dickey-Fuller test apply to check stationary of the variables and further use Granger-causality to check causal association amongst energy and growth. The study's outcomes revealed that the consumption of renewable energy in Thailand combined the nation's economic development predictions up to the range, which is the 1% boost in consumption of renewable energies to increase Thailand's economic development by 0.57 percent. Additionally, a 1 percent boost in capital formation leads towards the rise in economic development by 0.025 percent. However, a 1.70 percent boost in economic development is because of the 1 percent increase in labor efficiency. On the other side, the causality examination showed that the presence of the feedback consequence among consumption of renewable energies also the capital initiate to be bidirectional. Also, their same interpretation was revealed to existed amongst economic development and the capital. The research recommends that there must be some robust measures that help prevent the failure of the renewable energy market internationally between others and domestically.

scholarly journals TRADE OPENNESS AND ECONOMIC GROWTH IN MALAYSIA FROM 1980-2018

2020 ◽  
Vol 5 (2) ◽  
pp. 55-63
Author(s):  
Khairunisah Kamsin ◽  
James Alin ◽  
Mori Kogid
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Trade Openness ◽  
Unit Root Test ◽  
Wald Test ◽  
Real Effective Exchange Rate ◽  
Series Data ◽  
Long Run ◽  
The Impact ◽  
Bound Test

This study analyses the impact of trade openness on economic growth, between 1980-2018. This study using the unit root test (ADF) and the Philip and Perron (PP) test to examine the stationary of the time series data, the ARDL test to show the cointegration and long-run relationship between variables, and the Wald test to show the short-term effect of the variables. The finding shows that all variables have a long-run relationship with economic growth and the bound test shows that foreign direct investment (FDI) and the Real Effective Exchange Rate (REER) have a positive and significant relationship with economic growth. The study also found that openness is correlated with economic growth in Malaysia.

scholarly journals Are the non-stationarities in global market shares of top automotive nations of the world same?

2021 ◽  
Vol 244 ◽  
pp. 08016
Author(s):  
Huu Tran Aí ◽  
Muhammad Imtiaz Subhani ◽  
Sommaya Prachyangprecha
Keyword(s):  
Automotive Industry ◽  
Time Series Data ◽  
Stationary Process ◽  
Unit Root Test ◽  
Global Market ◽  
Series Data ◽  
Automotive Market ◽  
Market Shares ◽  
Augmented Dickey Fuller ◽  
Almost All

This paper is an attempt to investigate the non-stationary process in the global market shares of automotive industry of top 26 automotive producing nations. The time series data of global automotive market shares of top 26 automotive producing nations were collected from data stream Eikon for the period from 2002 to 2014. Augmented Dickey Fuller Unit root test (ADF URT) is used to investigate the non-stationarities or shocks in the outlined series of global automotive market shares. Findings confirmed the presence of shocks or non-stationarity (absence of stationary process) in global market shares of almost all top automotive producing nations except of Australia, India, Malaysia and South Africa for2002 to 2014. Findings further revealed that the non-stationarities got fixed at 2nd difference in all outlined series of global market shares of automotive for the period from 2002 to 2014. It is also revealed that there are the same shocking patterns in the global market shares of all top automotive producing nations with few exception.

scholarly journals The Dynamic of Macroeconomics Elements in Malaysia: Further Insight into Causality Analysis

2019 ◽  
Vol 4 (1) ◽  
pp. 1
Author(s):  
Dayang Hummida Abang Abdul Rahman ◽  
Nuzaihan Majidi ◽  
Jati Kasuma ◽  
Yusman Yacob ◽  
Dayang Affizzah Awang Marikan
Keyword(s):  
Time Series Data ◽  
Unit Root Test ◽  
Series Data ◽  
Causality Analysis ◽  
Causality Test ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Augmented Dickey Fuller ◽  
Short Run

This paper intends to explore the causality effect between Growth Domestic Product (GDP), population and unemployment in Malaysia. Based on the observation of Malaysia’s historical data, there is a distinct movement in each of these individual macroeconomics components over the years. Past literature within the same area has illustrated various patterns on the possibility of a causal relationship that each variable has on one another. Several stages of analysis are conducted to verify the presence of causality effect from Malaysian economic perspective, which includes unit root test that employs the Augmented Dickey Fuller (ADF), Phillips-Perron (PP) and Kwiatkowski-Phillips-Schmidt-Shin (KPSS) procedures, followed by Johansen and Juselius test of cointegration and Granger-causality test based on Vector Error Correction Model (VECM) using E-views software. Each procedure is conducted using Malaysia’s time series data for each of the three elements from 1980 to 2013 obtained from Malaysia’s Department of Statistics. Our findings revealed that there is one cointegration detected for the tested variables; whereas the results indicate that population can Granger cause unemployment in the short run. Furthermore, it is found that unemployment solely bears the effect from short run adjustment to bring about the long run equilibrium within the tested framework. This study is important for the policy maker to understand the reason behind the causality effect that could jeopardize the rate of unemployment in Malaysia. As the attention is given specifically to three variables particularly GDP, population and unemployment, this study is aimed at broadening the prospect for further investigation within the same area of macroeconomics.

scholarly journals Determining the Nominal Exchange Rate in Sri Lanka: An Application of The Lagrange Multiplier Structural Break Unit Root Test and The Ardl Co-Integration

2020 ◽  
Vol 8 (2) ◽  
pp. 57-70
Author(s):  
Iwanthika Rajakaruna ◽  
Nelson Perera
Keyword(s):  
Exchange Rate ◽  
Sri Lanka ◽  
Unit Root ◽  
Time Series Data ◽  
Structural Break ◽  
Unit Root Test ◽  
Nominal Exchange Rate ◽  
Series Data ◽  
The Impact ◽  
Bound Test

Bihari There is a vast literature on the impact of exchange rate on developing countries’ economies. This paper studies the determinants of nominal exchange rate fluctuations in Sri Lanka. It employs recent secondary macroeconomics monthly time series data (2011:01-2018:07) and tests the ARDL co-integration approach with structural break LM unit root test, which was introduced by Lee and Strazicich in 2013. Results of the bound test show that the nominal exchange rate has a long-term relationship with its determinants. Further, our empirical findings suggest that a strong depreciating link exists between the nominal exchange rate and money supply in Sri Lanka during the sample period. Outcomes are signals that identify new lessons for policy-makers to implement consistent foreign exchange policies. Doing so must consider both monetary and fiscal policy simultaneously.

Honor Among Thieves: Understanding Rhetorical and Material Cooperation Among Violent Nonstate Actors

2021 ◽  
pp. 1-40
Author(s):  
Christopher W. Blair ◽  
Erica Chenoweth ◽  
Michael C. Horowitz ◽  
Evan Perkoski ◽  
Philip B.K. Potter
Keyword(s):  
Time Series ◽  
Strategic Behavior ◽  
Time Series Data ◽  
Transnational Networks ◽  
Series Data ◽  
Nonstate Actors ◽  
State Repression ◽  
Security Risks ◽  
Community Monitoring ◽  
The Face

Abstract Cooperation among militant organizations contributes to capability but also presents security risks. This is particularly the case when organizations face substantial repression from the state. As a consequence, for cooperation to emerge and persist when it is most valuable, militant groups must have means of committing to cooperation even when the incentives to defect are high. We posit that shared ideology plays this role by providing community monitoring, authority structures, trust, and transnational networks. We test this theory using new, expansive, time-series data on relationships between militant organizations from 1950 to 2016, which we introduce here. We find that when groups share an ideology, and especially a religion, they are more likely to sustain material cooperation in the face of state repression. These findings contextualize and expand upon research demonstrating that connections between violent nonstate actors strongly shape their tactical and strategic behavior.

Export-led Growth Hypothesis: Econometric Evidence from Malaysia

2013 ◽  
Vol 14 (2) ◽  
pp. 94-112
Author(s):  
Hassanudin Mohd Thas Thaker ◽  
Tan Siew Ee ◽  
Sushant Vaidik
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Series Data ◽  
Vector Error Correction ◽  
Distributed Lag ◽  
Long Run ◽  
Paper Cover ◽  
Econometric Evidence ◽  
Augmented Dickey Fuller ◽  
Growth Hypothesis

The objective of this paper is to test the validity of the Export-led Growth Hypothesis (ELGH) in the Malaysian economy. Malaysia has always been considered to have attained its growth primarily through exports (Okposin, Bassey, Hamid, Halim, and Boon, 1999; Mun, 2008; Mahathir, 1990). In the past, several studies on this topic have been conducted but their analyses were limited to relationships using Bound-testing, Autoregressive –Distributed Lag (ARDL) and the Toda Yamamoto analysis. Empirical data and analysis in our paper cover a 21 – year span and quarterly time-series data (1991:Q1 – 2012:Q4) are used to test this ELG hypothesis. Also, many dynamic econometric measures including the Augmented Dickey Fuller (ADF) and Phillip – Perron (PP) unit root tests, Cointegration test as well as the Vector Error Correction model (VEC) for the long run have been applied. Based on these generic models, both real exports and capital stock (productivity) are found to have stimulated positive adjustments to economic growth in the long run whereas real exchange rate is found to have influenced economic growth negatively. Overall, our conclusion is that the ELG hypothesis seems applicable to Malaysia in the long run.

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