Debt-Growth Bond in Nigeria: Structural Break Analysis

2018 ◽  
Vol 2 (1) ◽  
pp. 1-6
Author(s):  
Emmanuel O. Okon ◽  
Halirat Umar
Keyword(s):  
Economic Growth ◽  
Structural Break ◽  
External Debt ◽  
Debt Relief ◽  
Debt Service ◽  
Least Square ◽  
Ordinary Least Square ◽  
External Finance ◽  
Its Analysis ◽  
Chow Test

This study examined the structural break relationship between external debt and economic growth from 1985 to 2016 with a view to examine the effect of external debt relief on economic growth in Nigeria. The study used the ordinary least square technique. In addition, it employed the chow test and also adopted the similarity of error variances test in its analysis. From the results and analysis, it was revealed that external debt stock (EXD) is positively and insignificantly related to RGDP. It was concluded that the 2005 external debt relief did significantly caused a change in external debt, external debt service relations with economic growth in Nigeria. Based on these findings, the study suggested that external finance should be used only for projects of highest priority. Spending of external debt on productive self-liquidating investments must be strictly adhered to while projects to be financed with external loan must be properly appraised.

scholarly journals Impact of External Debt on Economic Growth Rate: An Empirical Evidence from Pakistan

2022 ◽  
Vol 27 ◽  
pp. 445-451
Author(s):  
Rabia Zafar ◽  
Muhammad Maleeq-Ul-Islam Zafar
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
External Debt ◽  
Debt Service ◽  
Least Square ◽  
Series Data ◽  
Gdp Growth ◽  
Short Term ◽  
Total Debt ◽  
Gdp Growth Rate

The major objective of this study is to check the effect of external debt on the GDP growth of Pakistan. For this purpose annual time series data were used for the period 1980 to 2020. Augmented Dickey-Fuller test was applied to check the stationary status of the data and the least square method was applied for the estimation of the results. For the analysis GDP growth rate was taken as a dependent variable and other variables, such as economic growth (Annual %), inflation rate (CPI %), Foreign Direct Investment net inflow (% of GDP), multi-lateral debt services (% of public and publically generated debt service), Total debt service (% of GNI), Short term debt (% of total reserves) were taken as explanatory variables. Findings revealed that the total debt and multilateral debt negatively affect the GDP growth rate, whereas, FDI and short term debt are positively associated with growth rate. It is suggested that to improve the economic growth Pakistan should focus on investment projects and there is a need to implementation better policies for foreign debt utilization

Impacts Of Capital Flight On Economic Growth In Nigeria

2015 ◽  
Vol 3 (8) ◽  
pp. 10-46
Author(s):  
OLOYE Martins Ifedayo ◽  
Olatunji Olawale
Keyword(s):  
Economic Growth ◽  
Negative Impact ◽  
External Debt ◽  
Sustainable Growth ◽  
Least Square ◽  
Capital Flight ◽  
Current Account Balance ◽  
Foreign Reserve ◽  
Ordinary Least Square ◽  
The Government

This study examines the impacts of capital flight on economic growth in Nigeria between 1980 and 2012. The study used co-integration, Ordinary Least Square (OLS) and Error Correction Mechanism (ECM) as its main estimation techniques. The evidence, however, shows that capital flight, foreign reserve, external debt, foreign direct investment and current account balance co-integrate with Gross Domestic Product (GDP) in Nigeria within the year under study. It was also discovered that capital flight had negative impact on the economy. Based on the empirical findings, it is recommended that the government should create an enabling environment for profitable investment and offer foreign investors attractive incentives as this will reduce the occurrence of capital flight from Nigeria and lead to sustainable growth and development.

scholarly journals Does Green Energy Complement Economic Growth for Achieving Environmental Sustainability? Evidence from Saudi Arabia

2020 ◽  
Vol 13 (1) ◽  
pp. 180
Author(s):  
Montassar Kahia ◽  
Anis Omri ◽  
Bilel Jarraya
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Environmental Sustainability ◽  
Least Square ◽  
Ekc Hypothesis ◽  
Renewable Energy Consumption ◽  
Ordinary Least Square

This study extends previous environmental sustainability literature by investigating the joint impact of economic growth and renewable energy on reducing CO2 emissions in Saudi Arabia over the period 1990–2016. Using the fully modified ordinary least-square (FMOLS) and dynamic ordinary least-square DOLS estimators, we find that economic growth increases CO2 emissions in all estimated models. Moreover, the validity of the environmental Kuznets curve (EKC) hypothesis is only supported for CO2 emissions from liquid fuel consumption. The invalidity of the EKC hypothesis in the most commonly used models implies that economic growth alone is not sufficient to enhance environmental quality. Renewable energy is found to have a weak influence on reducing the indicators of environmental degradation. We also find that the joint impact of renewable energy consumption and economic growth on the indicators of CO2 emissions is negative and insignificant for all the estimated models, meaning that the level of renewable energy consumption in Saudi Arabia is not sufficient to moderate the negative effect of economic growth on environmental quality. Implications for policy are also discussed.

scholarly journals Dominance of Fossil Fuels in Japan’s National Energy Mix and Implications for Environmental Sustainability

2021 ◽  
Vol 18 (14) ◽  
pp. 7347
Author(s):  
Tomiwa Sunday Adebayo ◽  
Abraham Ayobamiji Awosusi ◽  
Seun Damola Oladipupo ◽  
Ephraim Bonah Agyekum ◽  
Arunkumar Jayakumar ◽  
...  
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Natural Gas ◽  
Co2 Emissions ◽  
Environmental Sustainability ◽  
Least Square ◽  
Kuznets Curve ◽  
Gas Oil ◽  
Energy Mix ◽  
Ordinary Least Square

Despite the drive for increased environmental protection and the achievement of the Sustainable Development Goals (SDGs), coal, oil, and natural gas use continues to dominate Japan’s energy mix. In light of this issue, this research assessed the position of natural gas, oil, and coal energy use in Japan’s environmental mitigation efforts from the perspective of sustainable development with respect to economic growth between 1965 and 2019. In this regard, the study employs Bayer and Hanck cointegration, fully modified Ordinary Least Square (FMOLS), and dynamic ordinary least square (DOLS) to investigate these interconnections. The empirical findings from this study revealed that the utilization of natural gas, oil, and coal energy reduces the sustainability of the environment with oil consumption having the most significant impact. Furthermore, the study validates the environmental Kuznets curve (EKC) hypothesis in Japan. The outcomes of the Gradual shift causality showed that CO2 emissions can predict economic growth, while oil, coal, and energy consumption can predict CO2 emissions in Japan. Given Japan’s ongoing energy crisis, this innovative analysis provides valuable policy insights to stakeholders and authorities in the nation’s energy sector.

scholarly journals Banking Sector Development, Inflation and Economic Growth in Asian Countries: A Panel Causality and Co-Integration Approach

2018 ◽  
Vol 8 (4) ◽  
pp. 384
Author(s):  
Muhammad Imran Nazir ◽  
Rehana Tabassam ◽  
Ifran Khan ◽  
Muhammad Rizwan Nazir
Keyword(s):  
Economic Growth ◽  
Banking Sector ◽  
Vital Role ◽  
Least Square ◽  
Policy Implications ◽  
Asian Countries ◽  
Ordinary Least Square ◽  
Long Run ◽  
Banking Sector Development ◽  
Integration Test

This study investigates the causal relationship between banking sector development, inflation, and economic growth for six Asian countries (Bangladesh, China, India, Malaysia, Pakistan and Sri Lanka) over the period of 1970-2016. Using a Pedroni panel, Kao co-integration test, Panel Granger causality-based Error Correction Model, Dynamic ordinary least square (DOLS), and Fully modified ordinary least square (FMOLS), this study finds that the development of the banking sector generally has a positive relationship with economic growth in the long-run. This results show that in the long-run, monetary policy play a vital role in the economic growth. This study also confirmed the response causality between the indicators of banking sector development and economic growth. Based on the empirical findings, this research provides important policy implications to the banking sector and economic supervisory bodies in order to achieve the long run economic growth.

scholarly journals Impacto das exportações de alta tecnologia no crescimento econômico: evidências empíricas do Paquistão

2017 ◽  
Vol 8 (1) ◽  
pp. 91 ◽  
Author(s):  
Muhammad Usman
Keyword(s):  
Economic Growth ◽  
World Bank ◽  
Time Span ◽  
Least Square ◽  
High Tech ◽  
Ordinary Least Square ◽  
Robust Standard Error ◽  
Long Run ◽  
Data Source ◽  
The Impact

The goal of this study is to explore the impact of high tech exports on economic growth of Pakistan. To examine this relationship, data are collected from World Bank database, State Bank of Pakistan data source and Statistical Bureau of Pakistan. Time span of study is consisting of 20 years from 1995 to 2014. By using ordinary least square (OLS) with robust standard error, results confirm that there is a positive and statistically significant impact of high tech exports on economic growth. Although Pakistan is an agriculture country and its economic growth is largely depend upon farming, but for long run economic growth, Pakistan has to increase its high tech exports.

scholarly journals Analisis faktor-faktor yang mempengaruhi pertumbuhan ekonomi di Provinsi Riau tahun 2000-2018

SOROT ◽  
2020 ◽  
Vol 15 (2) ◽  
pp. 87
Author(s):  
Miftakul Khoiri ◽  
Syapsan Syapsan ◽  
Sri Endang Kornita
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Capital Expenditure ◽  
Labour Force ◽  
Private Investment ◽  
Least Square ◽  
Domestic Product ◽  
Ordinary Least Square

Terdapat beberapa permasalahan yang berbeda pada sumber daya di setiap daerah, yaitu investasi, tenaga kerja dan teknologi sebagai faktor pembentuk output perekonomian daerah. Penelitian ini menganalisis hubungan antara investasi dalam bentuk Penanaman Modal Asing (PMA), Penanaman Modal Dalam Negeri (PMDN), belanja modal pemerintah, angkatan kerja dan ekspor dengan pertumbuhan ekonomi. Tujuan penelitian adalah melihat pengaruh besarnya faktor-faktor tersebut terhadap Pertumbuhan ekonomi di Provinsi Riau 2000-2018. Untuk kepentingan khusus penelitian dengan tujuan melihat pengaruh krisis keuangan global tahun 2008 terhadap pertumbuhan ekonomi maka dimasukkan variabel dummy krisis keuangan. Penelitian ini adalah penelitian kuantitatif dengan metode regresi berganda log-log linier dan data time series. Model diestimasi dengan metode Ordinary Least Square (OLS). Hasil penelitian menunjukkan bahwa PMA, PMDN, angkatan kerja dan ekspor signifikan positif mempengaruhi pertumbuhan ekonomi yang diukur dengan nilai Produk Domestik Regional Bruto (PDRB). Begitu juga dengan dummy krisis keuangan global meskipun berlangsung singkat ternyata berpengaruh terhadap PDRB di Provinsi Riau. Namun demikian ditemukan bahwa belanja modal pemerintah tidak signifikan mempengaruhi pertumbuhan PDRB.There are some problems in resources of the regions, namely investment, labour force, and technology as the component factors to make the output of the region’s economy. This study aims to analyze the relationship between investment as consist of foreign direct investment (FDI), private investment, government capital expenditure, labour force, export and economic growth to the gross regional domestic product growth of regency in Riau Province 2000-2018. For the specific purpose of describing global financial crises in 2008 influence the economic growth, we put the dummy variable of the financial crisis in the model. This research is quantitative descriptive with the multiple regression model of log-linear and time series method using Ordinary Least Square (OLS). The study shows that government capital expenditure is statistically not significant to affect the gross regional domestic product growth. FDI, private investment, labour force and export is statistically significant to affect the gross regional domestic product growth. As well as a dummy of the global financial crisis is statistically significant to affect the gross regional domestic product growth.

scholarly journals PENGARUH FAKTOR EKONOMI, SOSIAL EKONOMI DAN IKLIM TERHADAP BENCANA ALAM DI INDONESIA

Jurnal Ecogen ◽  
2019 ◽  
Vol 1 (3) ◽  
pp. 539
Author(s):  
Surya Irmayani ◽  
Zul Azhar ◽  
Melti Roza Adry
Keyword(s):  
Economic Growth ◽  
Population Density ◽  
Natural Disasters ◽  
Urban Population ◽  
Participation Rate ◽  
Least Square ◽  
Ordinary Least Square ◽  
Descriptive Research ◽  
Negative Effect ◽  
Education Participation

This purpose of the research  are to the analyse the Economic Growth, Education Participation Rate, Urban Population, Population Density, Number of Rainfall in terms of Damage Natural Disasters in Indonesia. This type of research is associative descriptive research. This study is based on data 2015 obtained from institutions and related institution. Methods that being used are Ordinary Least Square (OLS). The estimation results show that Economic Growth has a significant negative effect the Damage Natural Disasters in Indonesia, Education Participation Rate has a not significant effect the Damage Natural Disasters in Indonesia, Urban Population has a significant positive effect the Damage Natural Disasters in Indonesia, Population Density has a not significant effect the Damage Natural Disasters in Indonesia, Number of rainfall has a not significant effect the Damage Natural Disasters in Indonesia. Keywords: Economic Growth, Education Participation Rate, Urban Population, Population Density, Number of Rainfall

scholarly journals Impact of Exchange Rate Management on the Nigerian Economic Growth: Empirical Validation

2019 ◽  
Vol 1 (2) ◽  
pp. 28-35
Author(s):  
Friday Osaru Ovenseri Ogbomo ◽  
Precious Imuwahen Ajoonu
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Inflation Rate ◽  
Government Expenditure ◽  
Least Square ◽  
Ordinary Least Square ◽  
Exchange Rate Management ◽  
Long Run ◽  
Short Run ◽  
The Impact

This paper examined the impact of Exchange Rate Management on economic growth in Nigeria between 1980 and 2015. The study was set to gauge how the management of exchange rate in Nigeria has impacted the economy. The study employed the Ordinary Least Square (OLS) method in its analysis. Co-integration and Error Correction Techniques were used to establish the Short-run and Long-run relationships between economic growth and other relevant economic indicators. The result revealed that exchange rate management proxy by various exchange rates regimes in Nigeria was not germane to economic growth. Rather, government expenditure, inflation rate, money supply and foreign direct investment significantly impact on economic growth in Nigeria. It is against this backdrop that the Nigerian economy must diversify her export base to create room for more inflow of foreign exchange.  

scholarly journals External Debt Relief and Economic Growth in Nigeria

2012 ◽  
Vol 2 (7) ◽  
pp. 195-205
Author(s):  
M. C. Ekperiware ◽  
S. I. Oladeji
Keyword(s):  
Economic Growth ◽  
External Debt ◽  
Debt Relief
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