scholarly journals Electricity Power, Democratic Governance and Economic Growth: Evidence from Nigeria

2021 ◽  
Vol 2 (3) ◽  
pp. 198-207
Author(s):  
Ibrahim Kabiru Maji ◽  
Salisu Ibrahim Wazirib
Keyword(s):  
Economic Growth ◽  
Power Supply ◽  
Electricity Generation ◽  
Ordinary Least Squares ◽  
Democratic Governance ◽  
Electricity Supply ◽  
Financial Crime ◽  
Electricity Power ◽  
Canonical Cointegrating Regression ◽  
The Impact

The study examines the impact of democratic governance and corruption on electricity power supply in Nigeria. To achieve this goal, an integrated regression analysis such as Dynamic Ordinary Least Squares (DOLS), Fully Modified OLS, Canonical Cointegrating Regression and OLS were utilized to estimate data spanning the period of 1986 – 2020. The result revealed a negative and significant impact of democracy and corruption on electricity power generation in Nigeria. On the other hand, economic growth has shown a positive and important impact on electricity generation, suggesting that higher GDP growth will increase the supply of electricity in Nigeria. The implication of this findings are as follows: (i) one of the dividends of democracy which is providing public good to the citizens have not been achieved, as such, policymakers need to give more attention to the provision electricity supply; (ii) the institutions in charge of fighting corruption such as the Economic and Financial Crime Commissions (EFCC) need to be further strengthened in Nigeria.

scholarly journals AN APPRAISAL OF THE IMPACT OF THE ELECTRICITY POWER SECTOR REFORM PROJECT ON INDUSTRIALIZATION IN NIGERIA

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Thaddeus C. Eze
Keyword(s):  
Power Supply ◽  
Electricity Generation ◽  
Research Approach ◽  
Partial Privatization ◽  
Power Sector ◽  
Sector Reform ◽  
Billing System ◽  
Reform Project ◽  
Electricity Power ◽  
The Impact

This paper examines the effect of the electricity power sector reform Act on industrialization in Nigeria. Power has been a recurring problem in Nigeria in what has been commonly referred to as the electricity gap. The federal government of Nigeria came up with a comprehensive legislation to boost power supply. The implementation of this legislation has led to a partial privatization of the hitherto fully state-owned parastatal that was responsible for electricity generation and supply. The paper examines the outcome of the Electricity Power Sector Reform Act (EPSRA), 2005 on the rate and level of industrialization in Nigeria. It was found that the Act has not, in any way, significantly improved electricity supply in Nigeria. Consequently, Nigerian industries are still groaning under increased cost of production occasioned largely by epileptic power supply. The absence of prepaid digital meters for the billing of many electricity consumers has also worsened the plight of industries that use electricity, and which are forced to pay for electricity supplied under an estimated billing system. The study adopted the doctrinal research approach.

Fiscal Deficit and Economic Growth in Bangladesh

2016 ◽  
Vol 62 (1) ◽  
pp. 31-42 ◽  
Author(s):  
Ebney Ayaj Rana ◽  
Abu N. M. Wahid
Keyword(s):  
Economic Growth ◽  
Budget Deficit ◽  
Negative Impact ◽  
Political Stability ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Government Budget ◽  
The Government ◽  
The Impact ◽  
Government Budget Deficit

The economy of Bangladesh is currently going through a period of continuous budget deficit. The present data suggest that the government budget deficit, on average, is nearly 5% of the country’s GDP. This has been true since the early 2000s. To finance this deficit, governments have been borrowing largely from domestic and foreign sources resulting in inflationary pressure on one hand, and crowding out of private investments on the other. During the same period, although the economy has grown steadily at a rate of more than 6%, this growth is less than the potential. This article presents an econometric study of the impact of government budget deficits on the economic growth of Bangladesh. We conduct a time-series analysis using ordinary least squares estimation, vector error correction model, and granger causality test. The findings suggest that the government budget deficit has statistically significant negative impact on economic growth in Bangladesh. Policy implications of our findings include reestablishing the rule of law, political stability in the country, restructuring tax structure, closing tax loopholes, and harmonizing fiscal policy with monetary policy to attract additional domestic and foreign investment.

scholarly journals The Impact of Industrialization, Trade Openness, Financial Development, and Energy Consumption on Economic Growth in Indonesia

Economies ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 174
Author(s):  
Khalid Eltayeb Elfaki ◽  
Rossanto Dwi Handoyo ◽  
Kabiru Hannafi Ibrahim
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Least Squares ◽  
Financial Development ◽  
Correction Term ◽  
Trade Openness ◽  
Ordinary Least Squares ◽  
Distributed Lag ◽  
Long Run ◽  
The Impact

This study aimed to scrutinize the impact of financial development, energy consumption, industrialization, and trade openness on economic growth in Indonesia over the period 1984–2018. To do so, the study employed the autoregressive distributed lag (ARDL) model to estimate the long-run and short-run nexus among the variables. Furthermore, fully modified ordinary least squares (FMOLS), dynamic least squares (DOLS), and canonical cointegrating regression (CCR) were used for a more robust examination of the empirical findings. The result of cointegration confirms the presence of cointegration among the variables. Findings from the ARDL indicate that industrialization, energy consumption, and financial development (measured by domestic credit) positively influence economic growth in the long run. However, financial development (measured by money supply) and trade openness demonstrate a negative effect on economic growth. The positive nexus among industrialization, financial development, energy consumption, and economic growth explains that these variables were stimulating growth in Indonesia. The error correction term indicates a 68% annual adjustment from any deviation in the previous period’s long-run equilibrium economic growth. These findings provide a strong testimony that industrialization and financial development are key to sustained long-run economic growth in Indonesia.

scholarly journals The Impact of Government Debt on the Economic Growth of Ghana: A Time Series Analysis from 1990-2015

2015 ◽  
Vol 2 (5) ◽  
pp. 31-39 ◽  
Author(s):  
Lucy Anning ◽  
Collins Frimpong Ofori ◽  
Ernest Kwame Affum
Keyword(s):  
Economic Growth ◽  
World Bank ◽  
Negative Relationship ◽  
Secondary Data ◽  
Government Debt ◽  
Ordinary Least Squares ◽  
Poor Countries ◽  
High Dependency ◽  
Heavily Indebted Poor Countries ◽  
The Impact

In this study we investigate the impact of government debt on the economic growth of Ghana adopting the methodology of the simple Ordinary Least Squares with data spanning from 1990 to 2015. Ghana has unfortunately found itself in the tragic situation of high external government debt which has led to high dependency on aid and other loans to support its development. These aids and loans have seen the debt of Ghana rise steadily over the years. As a result of the Heavily-Indebted Poor Countries (HIPC) which was presented by the IMF and World Bank in 1999, Ghana was judged to be a HIPC with unsustainable debt enabling the country to benefit from debt relief. We investigate the impact of government debt (both external and domestic) by testing three related models at the domestic and external levels including the general growth of the Ghanaian economy. In constructing our dataset, we build on the study of many scholars including a substantial amount of new materials from both primary and secondary data sources being Ministry of Finance (MOF) or Treasury Latest actual data: Government Finance Statistics Manual (GFSM), Ghana and World Bank. The research findings revealed that there is a negative relationship between debt (domestic and external) and growth in the economy of Ghana and recommend among others that government debt borrowing should be discouraged while increasing the revenue base through tax reform programs is encouraged.

scholarly journals The human capital–economic growth nexus in SSA countries: what can strengthen the relationship?

2020 ◽  
Vol 47 (9) ◽  
pp. 1143-1159
Author(s):  
Roseline Tapuwa Karambakuwa ◽  
Ronney Ncwadi ◽  
Andrew Phiri
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Least Squares ◽  
Ordinary Least Squares ◽  
African Countries ◽  
Content Type ◽  
Econometric Approach ◽  
The Impact ◽  
The Relationship ◽  
Ssa Countries

PurposeThe purpose of this study is to examine the impact of human capital on economic growth for a selected sample of nine SSA countries between 1980 and 2014 using a panel econometric approach.Design/methodology/approachThe authors estimate a log-linearized endogenous using the fully modified ordinary least squares (FMOLS) and the dynamic ordinary least squares (POLS) applied to our panel data time series.FindingsThe empirical analysis shows an insignificant effect of human capital on economic growth for our selected sample. These findings remain unchanged even after adding interactive terms to human capital, which are representatives of government spending as well as foreign direct investment. Nevertheless, the authors establish a positive and significant effect of the interactive term between urbanization and human capital on economic growth.Practical implicationsThe results emphasize the need for African policymakers to develop urbanized, “smart”, technologically driven cities within the SSA region as a platform toward strengthening the impact of human capital-economic growth relationship.Originality/valueThis study becomes the first in the literature to validate the human capital–urbanization–growth relationship for African countries.

scholarly journals Effect of Money Supply on Economic Growth: A Comparative Study of Nigeria and Ghana

2019 ◽  
Vol 7 (3) ◽  
pp. 16
Author(s):  
Cordelia Onyinyechi Omodero
Keyword(s):  
Economic Growth ◽  
Money Supply ◽  
Negative Impact ◽  
Ordinary Least Squares ◽  
Negative Influence ◽  
Positive Influence ◽  
Least Squares Regression ◽  
Monetary Authorities ◽  
Significant Negative Impact ◽  
The Impact

The effect of money supply in enhancing economic growth in Nigeria and Ghana is investigated in this study. The major objectives of the study are to establish the joint and individual influences of money supply mechanisms on economic growth in Nigeria and Ghana. The study employs data from 2009 to 2018 and uses Ordinary Least Squares regression technique for analysis of the data. The findings reveal that broad money supply (M2) has an insignificant negative influence on RGDP in Nigeria, but in Ghana the impact is significant and positive. Broad money supply (M3) exerts insignificant positive influence on RGDP in Nigeria, but significant negative impact on RGDP in Ghana while credit to private sectors (CPS) has insignificant positive influence on RGDP in both Nigeria and Ghana. The study among others suggests that the Monetary Authorities in the two countries should come up with monetary policy strategies that will help drive the economy better and such policies should consider M2 and CPS more as their contributions are necessary for economic expansion that lead to more output and employment.

scholarly journals POWER SUPPLY SYSTEM WITH VARIABLE ELECTRICITY GENERATION

2020 ◽  
Vol 2018 (1) ◽  
pp. 129-130
Author(s):  
Oleg Arsent'ev ◽  
Evgeniy Krylov
Keyword(s):  
Power Supply ◽  
Electricity Generation ◽  
Power Supply System ◽  
Electrical Equipment ◽  
Supply System ◽  
Energy Costs ◽  
Peak Loads ◽  
The Impact

the questions of the organization of power supply system with control elements to reduce the impact of peak loads on the operation of electrical equipment and reduce energy costs

scholarly journals Measuring the Effect of the Internet on Economic Growth: The Case of Saudi Arabia

2020 ◽  
Vol 12 (12) ◽  
pp. 61
Author(s):  
Hisham J. Bardesi
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Saudi Arabia ◽  
Internet Access ◽  
Ordinary Least Squares ◽  
The Internet ◽  
Macroeconomic Performance ◽  
The Impact

The purpose of this study is to examine and assess the impact of the Internet on economic growth in Saudi Arabia. Various studies show that there is a relationship between the growth rate of GDP and the Internet, as estimated by Internet user numbers. In this paper, the ordinary least squares (OLS) model is utilized to study the economic impact of Internet Access from 1994 to 2018, which has had a profound effect on the market structure of many sectors and Saudi’s global macroeconomic performance. The study constructs a model to investigate any significant impact of the Internet on the Saudi economy. Finally, this paper suggests that an understanding of the role of the Internet is essential for policymakers who plan to promote new forms of economic growth in the future. To take a long-term view implies working on technologies that could improve the economy and people’s lives by creating a technological ecosystem in and around Saudi Arabia, along with other major economies.

scholarly journals Impact of Demographic Variables on Economic Growth in South Asian Countries: A Panel Data Analysis

2021 ◽  
Vol 3 (1) ◽  
pp. 49-58
Author(s):  
Nisar Ahmad ◽  
Sara Nayyab
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Life Expectancy ◽  
South Asian ◽  
Total Fertility Rate ◽  
Ordinary Least Squares ◽  
Demographic Variables ◽  
Fertility Rate ◽  
Asian Countries ◽  
The Impact

This study find the impact of demographic variables on economic growth in selected South Asian countries; Pakistan, India, Bangladesh and Sri-Lanka using panel data from 1976 to 2017. Fertility rate and life expectancy are used as demographic variables and GDP is used to indicate the economic growth. Panel unit root tests including Levin-Lin & Chu, Im-Pesaran & Shin, ADF-Fisher χ2, PP-Fisher χ2 are applied to check the stationary of variables. Pedroni and Kao Panel Co-integration are employed to test the co-integration among variables. Fully Modified Ordinary Least Squares (FMOLS) estimators are obtained for long run relationship. Results show that total fertility rate and life expectancy have significant impact on economic growth in these four South Asian countries. For example, one unit increase in total fertility rate depresses the economic growth by 0.106 units. However, economic growth is accelerated by 0.196 units due to one year increase in life expectancy.

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