An Empirical Evaluation of Budget Implementation on Economic Development in Nigeria

One of the primary goals of this study was to explore how a budget review approach may affect Nigeria's economic development. The reasoning was that the Nigerian economy was being challenged by a variety of imbalances in budget creation and implementation. The study strategy was based on events that occurred after the study was completed, and the data used in the study came from the Central Bank Statistical Bulletin and the Federal Ministry of Finance. A model was constructed based on both empirical and theoretical investigations in order to achieve this broad goal. The HDI, which was utilized as a measure of development, was the dependent variable in the model. The government's capital budget, recurrent budget, and the speed of annual budget implementation were the other independent variables in the model. They examined data using the Auto Regressive Distributed Lag (ARDL) Model, diagnostic tests such as the test of normality, auto correlation test, and heteroskedasticity test, which proved the validity and reliability of the model they chose; inferential results reveal that the use of budget evaluation had a positive and significant impact on the Nigerian economy. According to the study's suggestions, Nigeria's government should try to increase capital and recurrent expenditures in its annual budget, both of which have a significant impact on economic development. Finally, the government should work to build budget monitoring and review infrastructure that will aid in the effective implementation of large budget expenditures while also ensuring compliance with legal procedures.

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Budget Evaluation and Economic Development in Nigeria

Journal Dimensie Management and Public Sector ◽

10.48173/jdmps.v2i2.99 ◽

2021 ◽

Vol 2 (2) ◽

pp. 51-62

Author(s):

Christy Twaliwi ◽

Georgina Obinne Ugwuanyi ◽

Udeme Okon Efanga

Keyword(s):

Economic Development ◽

Due Process ◽

Ordinary Least Squares ◽

Strict Adherence ◽

Capital Budget ◽

Economic Progress ◽

Ex Post ◽

Ex Post Facto ◽

The Government ◽

Budget Evaluation

The major goal of this research was to see how budget assessment affected Nigeria's economic progress. The inspiration stemmed from a number of inconsistencies in the Nigerian economy's budget preparation and execution. This study employed an ex-post-facto design, with data gathered from the Central Bank Statistical Bulletin and the Federal Ministry of Finance for analysis. A model based on empirical and theoretical reviews was developed to attain this wide purpose. The model's dependent variable was the Human Development Index (HDI), while the model's independent variables were the government's capital budget, recurrent budget, and yearly budget implementation rate. To evaluate data, the researchers used the Ordinary Least Squares (OLS) Model. Budget assessment had a favorable and considerable influence on Nigeria's economic progress, according to the inferential findings. According to the report, Nigeria's government should make an effort to raise capital and recurring expenditures in its yearly budget, since both have a substantial influence on economic development. Finally, the government should make an effort to put in place effective budget monitoring and assessment equipment that will increase the rate of budget implementation while simultaneously ensuring strict adherence to due process.

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Determinants of Insurance Penetration in West African Countries: A Panel Auto Regressive Distributed Lag Approach

Journal of Risk and Financial Management ◽

10.3390/jrfm14080350 ◽

2021 ◽

Vol 14 (8) ◽

pp. 350

Author(s):

Odunayo Olarewaju ◽

Thabiso Msomi

Keyword(s):

Banking Sector ◽

West African ◽

Education Sector ◽

African Countries ◽

Distributed Lag ◽

Long Run ◽

Short Run ◽

Auto Regressive ◽

Insurance Penetration ◽

The Government

This study analyses the long- and short-term dynamics of the determinants of insurance penetration for the period 1999Q1 to 2019Q4 in 15 West African countries. The panel auto regressive distributed lag model was used on the quarterly data gathered. A cointegrating and short-run momentous connection was discovered between insurance penetration along with the independent variables, which were education, productivity, dependency, inflation and income. The error correction term’s significance and negative sign demonstrate that all variables are heading towards long-run equilibrium at a moderate speed of 56.4%. This further affirms that education, productivity, dependency, inflation and income determine insurance penetration in West Africa in the long run. In addition, the short-run causality revealed that all the pairs of regressors could jointly cause insurance penetration. The findings of this study recommend that the economy-wide policies by the government and the regulators of insurance markets in these economies should be informed by these significant factors. The restructuring of the education sector to ensure finance-related modules cut across every faculty in the higher education sector is also recommended. Furthermore, Bancassurance is also recommended to boost the easy penetration of the insurance sector using the relationship with the banking sector as a pathway.

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Export Diversification and Economic Growth in Nigeria

Signifikan Jurnal Ilmu Ekonomi ◽

10.15408/sjie.v8i2.9861 ◽

2019 ◽

Vol 8 (2) ◽

Author(s):

Philip Ifeakachukwu Nwosa ◽

Fasina Oluwadamilola Tosin ◽

Ogbuagu Matthew Ikechukwu

Keyword(s):

Economic Growth ◽

Poor Performance ◽

Export Diversification ◽

Economic Policies ◽

Oil Market ◽

Distributed Lag ◽

The Poor ◽

Auto Regressive ◽

Oil Sector ◽

The Government

The issue of export diversification has been contentious in Nigeria due to the country’s unstable growth pattern which is majorly associated with instability in the international oil market and the poor performance of other sectors of the economy. Therefore, this study examines the link between export diversification and economic growth in Nigeria from 1962 to 2016. The study utilizes the Auto-regressive Distributed Lag (ARDL) technique. The result of this study shows that export diversification has a positive but insignificant influence on economic growth in Nigeria. The above result implies that the oil sector still dominates the Nigerian economy while the diversification drive of the government has not been significant in other sectors of the economy. Thus, the study recommends the need for conscious economic policies that would promote the diversification of the entire non-oil sector of the economy. The study concludes that export diversification is an insignificant determinant of economic growth in Nigeria.

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Capital Flight and Economic Development: Evidence from Nigeria

Management and Economics Research Journal ◽

10.18639/merj.2020.964791 ◽

2020 ◽

Vol 6 ◽

pp. 1

Author(s):

Samson O Akinwale ◽

Keyword(s):

Economic Development ◽

Adult Literacy ◽

Unit Root ◽

Positive Impact ◽

Capital Flight ◽

Literacy Rate ◽

Distributed Lag ◽

Augmented Dickey Fuller ◽

Auto Regressive ◽

The Relationship

This study examined the nexus between capital flight and economic development in Nigeria. The null hypothesis was that capital flight has no significant relationship with economic development in Nigeria. The study used the auto regressive distributed lag (ARDL) method on data obtained from the Central Bank of Nigeria and the World Bank, for the period 1986–2018, to examine the relationship between capital flight and economic development in Nigeria. The study examined the unit root problem and cointegrating properties of the data. The unit root problem was tested for by using the augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) tests. Findings from ARDL showed an inverse relationship exists between capital flight, real exchange rate, and economic development. This implies that the variables contributed significantly to reduce economic development within the study period. However, a positive relationship existed between economic development and adult literacy rate in Nigeria. By implication, improvements made in providing quality and affordable education tend to have a positive impact on economic development in Nigeria. The study concluded that economic development is strongly influenced by capital flight, real exchange, and adult literacy rates in Nigeria. The study, therefore, recommends that government policies to curb capital flight should be introduced and monitored so as to lead to economic development in Nigeria.

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Does government spending reduce poverty in Nigeria? Evidence from Auto-Regressive Distributed Lag Specification.

e-Journal Ekonomi Bisnis dan Akuntansi ◽

10.19184/ejeba.v7i2.17322 ◽

2020 ◽

Vol 7 (2) ◽

pp. 86

Author(s):

Olufemi Samuel Adegboyo

Keyword(s):

Government Spending ◽

Time Series Data ◽

Capital Expenditure ◽

Transportation Cost ◽

Series Data ◽

Distributed Lag ◽

Auto Regressive ◽

The Government ◽

Transfer Capital ◽

The Impact

This paper analyses the impact of government spending on poverty reducing in Nigeria for the period 1981 to 2017 making use of annual time series data. The study employs the Auto-Regressive Distributed Lag (ARDL) approach. The result of the study revealed that economic service recurrent expenditure (ESRX), social and community recurrent expenditure (SCSRX), Transfer recurrent expenditure (TRX) reduces poverty while transfer capital expenditure (TCX) and administrative recurrent expenditure (ADRX) escalate poverty. Consequently, the study recommends that Government should embark on provision of food subsidies, subsidies farm input for farmers, subsidies transportation cost. Furthermore, government should endeavor to pay pensioners all their entitlements including gratuities as at when due without any delay, government should also be giving stipend to the unemployed and disabled, more poverty alleviating programs should be organize Also, the huge cost of maintaining the government should be reduced by reducing the numbers of political appointees to a reasonable size.

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Determinants of Indonesia’s National Income: An Auto-Regressive Distributed Lag Analysis

Signifikan Jurnal Ilmu Ekonomi ◽

10.15408/sjie.v9i2.14469 ◽

2020 ◽

Vol 9 (2) ◽

pp. 207-218

Author(s):

Prihartini Budi Astuti ◽

Nur Khasanah

Keyword(s):

Economic Growth ◽

Aggregate Demand ◽

Government Expenditure ◽

National Income ◽

The United States ◽

Jel Classification ◽

Distributed Lag ◽

Long Run ◽

Auto Regressive ◽

The Government

At the end of 2019, most countries experienced an economic slowdown due to a trade war between the United States and China. According to macroeconomic theory, aggregate demand is one of the factors that influence economic growth. This study aims to add the debate and fill the gap by studying the relationship between aggregate demand and economic growth in the case of Indonesia. Using an Auto-Regressive Distributed Lag analysis, the results indicate that in the long-run, household consumption and investment had a positive effect on Indonesia's national income in 2010-2019. It means that the government must continue to make policies to maintain the purchasing power of Indonesian consumers, so that public consumption remains high, and maintaining the investment climate to be more conducive. On the other hand, government expenditure and net exports variables have no impact on Indonesia's national income in 2010-2019.JEL Classification: E01, E12, O47How to Cite:Astuti, P. B., & Khasanah, N. (2020). Determinants of Indonesia’s National Income: An Auto-Regressive Distributed Lag Analysis. Signifikan: Jurnal Ilmu Ekonomi, 9(2), 207-218. https://doi.org/10.15408/sjie.v9i2.14469.

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Foreign Aid and Child Mortality Rate in Nigeria

Signifikan Jurnal Ilmu Ekonomi ◽

10.15408/sjie.v9i2.14960 ◽

2020 ◽

Vol 9 (2) ◽

pp. 187-194

Author(s):

Funmilola Bukola Adebanji ◽

Philip Ifeakachukwu Nwosa ◽

Olusoji Ojo ◽

Olamide Jacquilyne Alake

Keyword(s):

Mortality Rate ◽

Foreign Aid ◽

Child Mortality ◽

Government Expenditure ◽

Carbon Dioxide Emission ◽

Distributed Lag ◽

Real Gdp ◽

Auto Regressive ◽

The Government ◽

Child Mortality Rate

Several factors have attributed to the high child mortality rate, including poverty, age of women at birth, and length of the interval between births. Besides, the lack of financial resources in developing countries has been a challenge in addressing the prevalent high child mortality rate. Thus, this study seeks to examine the relationship between foreign aid and infant mortality in Nigeria from 1981 to 2018. Employing Auto-Regressive Distributed Lag (ARDL) technique, the study observed that foreign aid, government expenditure on health, real GDP, and carbon dioxide emission negatively impacted child mortality. Hence, the study concludes that foreign aid reduces child mortality in Nigeria. The study recommends that the government ensure that all foreign aid and grants use immediately to reduce child mortality by building the necessary infrastructure and making it readily available.JEL Classification: F35, I19.How to Cite:Adebanji, F. B., Nwosa, P. I., Ojo, O. O., & Alake, O. J. (2020). Foreign Aid and Child Mortality Rate in Nigeria. Signifikan: Jurnal Ilmu Ekonomi, 9(2), 187-194. https://doi.org/10.15408/sjie.v9i2.14960.

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Effects of Exchange Rate Volatility On Non-Traditional Exports In Ghana

Journal of Business and Enterprise Development ◽

10.47963/jobed.2017.05 ◽

2017 ◽

Vol 7 (2017) ◽

pp. 80-103

Author(s):

Camara Kwasi Obeng

Keyword(s):

Exchange Rate ◽

Exchange Rate Volatility ◽

Real Effective Exchange Rate ◽

Distributed Lag ◽

Long Run ◽

Effective Exchange ◽

Short Run ◽

Auto Regressive ◽

The Government ◽

Effective Exchange Rate

The government of Ghana has implemented a number of policies to strengthen the production and export of non-traditional products as a way of diversifying exports in Ghana with very little success. Foremost among these policies is the liberalization of exchange rate. Meanwhile, the exchange rate has been very volatile. The study, therefore, examines the effects of exchange rate volatility on non-traditional exports in Ghana.This study employed Auto-regressive Distributed Lag (ARDL) co-integration estimation technique for the investigation. The results indicate that exchange rate volatility negatively impacts Ghana’s non-traditional exports. Also, the effect is greater in the long- run than it is in the short-run. Other results also show that world income, growth rate of the economy and Treasury bill rate promote non-traditional exports, but real effective exchange rate does not. The value of the paper lies in the discussion of the short-run and long-run effects of exchange rate volatility on non-traditional exports in the Ghanaian context.

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Modelling Sustainability Agriculture and Economic Development in Indonesia

E3S Web of Conferences ◽

10.1051/e3sconf/202131602049 ◽

2021 ◽

Vol 316 ◽

pp. 02049

Author(s):

Agung Suwandaru ◽

Thamer Alghamdi

Keyword(s):

Economic Development ◽

Sustainable Agriculture ◽

Technical Assistance ◽

Agricultural Policies ◽

Distributed Lag ◽

Negative Results ◽

Distributed Lag Model ◽

Long Run ◽

Short Run ◽

The Government

Agriculture sustainability plays an essential role in country development. This paper aims to examine whether sustainable agriculture is beneficial to economic development in Indonesia. The empirical analysis employs the autoregressive distributed lag model over the data from 1961-2016. The results show that sustainable agriculture significantly contributes to economic development in the long run for both models. The gross fixed capital and rural population as endogenous variables show the positive relationship in the long run, but technical assistance shows negative results. In the short run, all variables show mixed results in different lags. These findings conclude that agricultural policies are broadly on the right track. However, the government needs to focus more on the agricultural bureaucracy and strengthen its infrastructure.

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