scholarly journals Effect of Public Expenditure in Construction and Transportation sectors on Employment in Nigeria

2018 ◽  
pp. 130-136
Author(s):  
EWUBARE,Dennis Brown ◽  
MAEBA, Sampson Lucky
Keyword(s):  
Public Expenditure ◽  
Time Series Data ◽  
Government Expenditure ◽  
Percent Level ◽  
Series Data ◽  
Employment Rate ◽  
Social Infrastructure ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Short Run

This paper examined public expenditure and employment in Nigeria from 1980 to 2017. The study was induced by the insufficient federal government budgetary allocations to some critical sectors such as transport and construction sectors that tend to prompt the decay in the construction sector. To this end, the objectives of the study are to evaluate the effect of public expenditure in construction and transport sectors on employment rate in Nigeria. In doing this time series data were collected from CBN bulletin from 1980-2017 on variables such as employment rate, public expenditure on construction and transportation sectors. The cointegraton and ECM methods were used for the analysis. The long run dynamic results showed that there exists a long-run relationship or equilibrium among the variables. The coefficient of ECM is negatively signed and statistically significant at 5 percent level. Meaning that the short run error has been adjusted to long run equilibrium relationship. The result of analysis showed that in the long run, government expenditure will address the pitfalls in the country employment. Therefore, the paper recommended that effort should be made to ensure viability of social infrastructure through increase in annual capital budget spending in order to increase the level of employment and hence economic growth in Nigeria.

scholarly journals The long-Run and Short-Run Analysis between Stock Market Index and Macroeconomic Variables in Jordan: Bounds Tests Approach

2019 ◽  
Vol 12 (4) ◽  
pp. 50
Author(s):  
Raed Walid Al-Smadi ◽  
Muthana Mohammad Omoush
Keyword(s):  
Stock Market ◽  
Time Series Data ◽  
Stock Exchange ◽  
Series Data ◽  
Stock Market Index ◽  
Macroeconomic Variables ◽  
Market Index ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Short Run

This paper investigates the long-run and short-run relationship between stock market index and the macroeconomic variables in Jordan. Annual time series data for the 1978–2017 periods and the ARDL bounding test are used. The results identify long-run equilibrium relationship between stock market index and the macroeconomic variables in Jordan. Jordanian policy makers have to pay more attention to the current regulation in the Amman Stock Exchange(ASE) and manage it well, thus ultimately helping financial development.

scholarly journals Effects of Public Expenditure on Gross Domestic Product in Zambia from 1980-2017: An ARDL Methodology Approach

2019 ◽  
Vol 11 (2(J)) ◽  
pp. 103-111
Author(s):  
Mubanga Mpundu ◽  
Jane Mwafulirwa ◽  
Mutinta Chaampita ◽  
Notulu Salwindi
Keyword(s):  
Gross Domestic Product ◽  
Current Account ◽  
Public Expenditure ◽  
Government Expenditure ◽  
Private Investment ◽  
Domestic Product ◽  
Series Data ◽  
Current Account Balance ◽  
Long Run ◽  
Short Run

The paper explored the fundamental changes in public expenditure and the resulting effect on the gross domestic product using an ARDL approach for time series data over the period 1980-2017. The control variables included foreign direct investment and current account balance. The objective was to determine changes which had occurred with regard to the performance of GDP since 1980. A quantitative method approach was used to ascertain the relationship between the variables and analysed using the E-views 9 software. Cointegration results showed a long run relationship between GDP and government expenditure. In this regard, changes in government expenditure have a strong converse effect on GDP. Government expenditure, which has increased significantly in the past decade, is seen to have had negative effects both in the short run and long run. Contrary to theory, increased government expenditure may not be ideal for growing the Zambian economy. This could be due to the allocation of this public expenditure, i.e. the 2018 Budget had 24% of the expenditure directed to economic activities. Thus it is recommended that government practice increased fiscal discipline or reallocated resources as their expansionary fiscal policies are not yielding the intended results. Additionally, policies to promote private investment may be more beneficial for the Zambian economy. On the other hand, increased investment is also recommended with government encouraging more investment promoting policies as FDI is observed to have a positive impact in the short run though insignificant in the long run. These should ensure more investors are encouraged to stay longer and the impacts/externalities of their investments be accrued to the nationals to ensure long run benefits. The Zambian government should also ensure that the country diversifies its export base and enhances its external debt management to ensure positive and consistent impact of Current Account Balance in the long run.

scholarly journals Estimating the Determinants of Food Import Demand in Africa

2021 ◽  
Vol 65 (2) ◽  
pp. 238-252
Author(s):  
Saada Abdullahi ◽  
Keyword(s):  
Time Series Data ◽  
Import Demand ◽  
Series Data ◽  
Bounds Testing ◽  
Income Elasticities ◽  
Price And Income Elasticities ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Short Run ◽  
Annual Time Series

This paper examines the determinants of food import demand in Africa taking the case of Nigeria using the ARDL bounds testing approach. Specifically, the study aims to estimates the short run and long run price and income elasticities of food import demand in Nigeria. The paper used annual time series data over the period 1981 to 2019. The empirical result indicates the existence of a long run equilibrium relationship between food import demand and its determinants. The long run price and income elasticities are -4.57% and 5.57%, respectively. The result shows that population and food production exert significant influence in determining food import demand in both the short run and long run while exchange rate is insignificant in the long run. The paper recommends that price and income-oriented policies will be effective measures in controlling food import demand in Nigeria.

scholarly journals The causal and cointegration relationship between government revenue and government expenditure

2017 ◽  
Vol 6 (3) ◽  
pp. 23-32
Author(s):  
Kebitsamang Anne Sere ◽  
Ireen Choga
Keyword(s):  
South Africa ◽  
Time Series Data ◽  
Government Expenditure ◽  
Series Data ◽  
Government Revenue ◽  
Causality Test ◽  
Vector Error Correction ◽  
Long Run ◽  
Reserve Bank ◽  
Short Run

This study determines the causal relationship that exists between government revenue and government expenditure in South Africa. The study employed annual time series data from the year 1980 to 2015 taken from the South African Reserve Bank. The Johansen multivariate method was employed to test for co-integration and for causality the Vector Error Correction/Granger causality test was employed. The empirical results suggest that there is a long-run relation-ship between government revenue and government expenditure. The causality result suggests that there is no causality between government revenue and government expenditure in South Africa. Thus, policy makers in the short run should determine government revenue and government expenditure of South Africa independently when reducing the budget deficit.

An Investigation into the Intertemporal Spending Path of Local Government in Mauritius

2020 ◽  
Vol 14 (4) ◽  
pp. 432-453
Author(s):  
Sanju Naraidoo ◽  
Sanjeev K. Sobhee
Keyword(s):  
Local Government ◽  
Intertemporal Choice ◽  
Time Series Data ◽  
Government Expenditure ◽  
Jel Classification ◽  
Series Data ◽  
Middle Income ◽  
Long Run ◽  
Short Run ◽  
Local Government Expenditure

This article examines whether local government expenditure in Mauritius is characterised by an intertemporal decision-making path. In other words, to what extent does local government expenditure respond to contemporaneous changes in revenues. In this respect, the article contributes to the existing body of literature by exploring the context of an upper-middle-income country like Mauritius while factoring intertemporal choice in the supply of local public goods. Moreover, the article determines the short-run and long-run responsiveness of local public expenditure to Gross Domestic Product (GDP) through an error correction model based on time series data for Mauritius over the period 1987–2017. Our findings indicate that local government spending becomes less sensitive to its previous values when GDP and its past values are introduced as control variables in the model. Local government expenditure and real output are also found to be co-integrated or to share a long-term relationship. JEL Classification: B22, C1, D9, H4, H11

scholarly journals Impact of Exports and Imports on Economic Growth in Rwanda: 1961-2018

2020 ◽  
Author(s):  
Charles Ruranga ◽  
Daniel S. Ruturwa ◽  
Valens Rwema
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Series Data ◽  
Causality Test ◽  
Development Indicators ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Short Run ◽  
Annual Time Series ◽  
The Impact

Abstract The aim of this paper is to investigate the impact of trade on economic growth in Rwanda. This paper uses exports and imports for trade and gross domestic product for economic growth. Research questions were formulated as (1) Are exports, imports and economic growth cointegrated? (2) Is there a long or short run relationship between those Variables? (3) Are there any causal relationships between factors (4) what the direction of the causality is it? Annual time series data from World Development Indicators for the period from 1961 to 2018 have been used. The methods of linear regression for estimation of Vector Auto regressions models have been used. Our findings established that VAR was appropriate model, and GDP, Exports were stationary at first differences while Imports was stationary at second difference but not at levels. Hence the two series were integrated of order one and the third one was integrated of order two. Tests of cointegration indicates that the three variables were not cointegrated, implying there was no long run equilibrium relationship between the three series. The causality test indicated that exports and imports influenced GDP. On the other hand, we found that there was a strong evidence of unidirectional causality from exports to economic growth. However, there was bidirectional causality between GDP and imports. These results provide evidence that exports and imports, thus, were seen as the source of economic growth in Rwanda.

scholarly journals Development expenditure, fiscal consolidation and public revenue in India

2017 ◽  
Vol 5 (1) ◽  
pp. 16
Author(s):  
Subramanya Venkataraman ◽  
Arabi Urmi
Keyword(s):  
Time Series Data ◽  
Government Expenditure ◽  
Well Being ◽  
Series Data ◽  
Fiscal Consolidation ◽  
Long Run ◽  
Development Expenditure ◽  
Short Run ◽  
Public Revenue ◽  
The Government

Following challenges with increasing fiscal deficit, the Government of India adopted the path of fiscal consolidation with the sole intention of reducing fiscal and other deficits. However, in the drive to reduce government expenditure, it is necessary to be cautious of how it affects expenditures such as development expenditure that are very essential to the well-being of people. This study therefore investigated how fiscal consolidation and Public revenue affect development expenditure in India using time series data from 1977-2015 and the ARDL model. The study found that, in both the short run and long run, public revenue had a positive significant impact on development expenditure whiles fiscal consolidation had a negative significant impact on development expenditure. The study therefore recommended that in our attempt to attain fiscal consolidation, care must be taken not to abandon development expenditure which has serious effects on the well-being of people.

scholarly journals Impact of Government Expenditure on Economic Growth in Nigeria, 1970-2019

2021 ◽  
Vol 12 (No. 1) ◽  
pp. 139-174
Author(s):  
Chandana Aluthge ◽  
Adamu Jibir ◽  
Musa Abdu
Keyword(s):  
Economic Growth ◽  
Structural Breaks ◽  
Time Series Data ◽  
Capital Expenditure ◽  
Government Expenditure ◽  
Unit Root Test ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts for structural breaks in the unit root test and the co-integration analysis. The key findings of the study are that capital expenditure has positive and significant impact on economic growth both in the short run and long run while recurrent expenditure does not have significant impact on economic growth both in the short run and long run. The study recommends that government should increase the share of the capital expenditure especially on meaningful projects that have direct bearing on the citizen’s welfare. Government should also improve the spending patterns of recurrent expenditure through careful reallocation of resources toward productive activities that would enhance human development in the country.

Impact of exchange rate and oil price on the yield of sovereign bond and sukuk: Evidence from Malaysian capital market

2017 ◽  
Vol 5 (4) ◽  
pp. 27
Author(s):  
Huda Arshad ◽  
Ruhaini Muda ◽  
Ismah Osman
Keyword(s):  
Exchange Rate ◽  
Capital Market ◽  
Time Series Data ◽  
Oil Prices ◽  
Oil Price ◽  
Series Data ◽  
Sovereign Bond ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study analyses the impact of exchange rate and oil prices on the yield of sovereign bond and sukuk for Malaysian capital market. This study aims to ascertain the effect of weakening Malaysian Ringgit and declining of crude oil price on the fixed income investors in the emerging capital market. This study utilises daily time series data of Malaysian exchange rate, oil price and the yield of Malaysian sovereign bond and sukuk from year 2006 until 2015. The findings show that the weakening of exchange rate and oil prices contribute different impacts in the short and long run. In the short run, the exchange rate and oil prices does not have a direct relation with the yield of sovereign bond and sukuk. However, in the long run, the result reveals that there is a significant relationship between exchange rate and oil prices on the yield of sovereign bond and sukuk. It is evident that only a unidirectional causality relation is present between exchange rate and oil price towards selected yield of Malaysian sovereign bond and sukuk. This study provides numerical and empirical insights on issues relating to capital market that supports public authorities and private institutions on their decision and policymaking process.

Fish Exports and Economic Growth: The Pakistan’s Experience

2019 ◽  
Vol 20 (2) ◽  
pp. 279-296 ◽  
Author(s):  
Syed Tehseen Jawaid ◽  
Mohammad Haris Siddiqui ◽  
Zeeshan Atiq ◽  
Usman Azhar
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Positive Impact ◽  
Impulse Response Function ◽  
Policy Implications ◽  
Sensitivity Analyses ◽  
Series Data ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This study attempts to explore first time ever the relationship between fish exports and economic growth of Pakistan by employing annual time series data for the period 1974–2013. Autoregressive distributed lag and Johansen and Juselius cointegration results confirm the existence of a positive long-run relationship among the variables. Further, the error correction model reveals that no immediate or short-run relationship exists between fish exports and economic growth. Different sensitivity analyses indicate that initial results are robust. Rolling window analysis has been applied to identify the yearly behaviour of fish exports, and it remains negative from 1979 to 1982, 1984 to 1988, 1993 to 1999, 2004 and from 2010 to 2013, and it shows positive impact from 1989 to 1992, 2000 to 2003 and from 2005 to 2009. Furthermore, the variance decomposition method and impulse response function suggest the bidirectional causal relationship between fish exports and economic growth. The findings are beneficial for policymakers in the area of export planning. This study also provides some policy implications in the final section.

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