scholarly journals Evaluation of the Contribution of Oil Revenue on Economic Development in Nigeria

2016 ◽  
Vol 8 (6) ◽  
pp. 210 ◽  
Author(s):  
Joseph Ugochukwu Madugba ◽  
Michael Chidiebere Ekwe ◽  
Stella Ogechukwu Okezie

The study evaluation of the contributions of oil revenue on economic development in Nigeria tested the impact of growth rate in oil revenue and growth rate in Gross Domestic product and growth rate in total federally collected revenue of the Government from 1991 to 2012. Regression analysis was used to carry out data analysis with the aid of SPSS version 20. Results showed that a unit change in growth rate of oil revenue will lead to an equal unit change in growth rate of gross domestic product. The study recommends that federal government should intensify efforts to increase revenue derived from oil especially as it impacts on GDP and federally collected revenue.

2020 ◽  
Vol 31 (2) ◽  
pp. 211-220
Author(s):  
Emília Krajňáková ◽  
Vaida Pilinkienė ◽  
Patrik Bulko

The scope of the data presented in this study offers a comprehensive view of the issue of the HEI graduates employability in the Czech Republic and also in the Slovak Republic – related to determinants of economic development and their impact on them. This paper examines the impact of gross domestic product, gross domestic expenditure on research and experimental development by only higher education sector and foreign direct investment on HEI graduates employability. The results indicate that correlation between unemployment of tertiary educated Slovaks and GDP, GERD and FDI values was very big. Correlation relationship of similar determinants, except determinant GERD in conditions of the Czech Republic was characterized as weak. On the other hand, significantly stronger (very big to perfect) correlation affecting employment of tertiary educated Czechs regarding to indicators of gross domestic product, gross domestic expenditure on research and experimental development by sector of higher education and foreign direct investments as well. In conditions of the Slovak Republic, correlation relationship between employment of tertiary educated Slovaks and GDP was almost perfect.


Author(s):  
Nour Khaldoun Khalif Al-mawajdah

The tourism sector is one of the sectors that contribute to the creation of gross domestic product in Jordan and in accordance with the stated estimates, this sector accounts for about 10% of the gross domestic Product. Thus, there is a justification regarding the interest of the so- called tourist industry which became one of the most important sectors in most of the countries; so there is a continuous effort to develop this sector and reap the benefits of that in relation to the different economies. Jordan has a comparative advantage due to its strategic location, historical monuments, religious places, as well as the possibility of using the therapeutic, educational and recreational tourism and others in the near future. In the current time we have to develop a strategy for tourism choices, as well as a clear vision about the touristic quality, which aims at developing it. Therefore, we can say that there is a need to expand the overall usefulness of tourism by educating the people involved with tourism and highlighting its role and economic usefulness. Thus, this study addresses the definition of the concept of tourism promotion and its relationship with the concept of tourism marketing as a broader context, in addition to showing the importance of the internet in tourism promotion, and the requirements of their application, given the speed of the successive changes in the tourism work environment both on the national and international levels. The study focuses on identifying the extent of the information technology impact in general and the internet in particular as well as applying them in the touristic offices that are available in Wadi Mousa by highlighting the efficiency of the website on activating tourism, planning for the touristic area and identifying the impact of the network as a means of communication between the elements of touristic attraction in the touristic area and between the tourists regardless their nationalities. The results showed that the information accuracy via the internet in terms of the touristic offices increases the touristic attraction. The results also showed that emphasizing the activation of tourism promotion advertisements as well as the ideal planning for the programs and touristic services via the internet through the websites, particularly the government websites that provide valid information is the only means for solving all the problems of tourism promotion. In the light of the competitive and structural challenges facing the industry and agriculture sectors, the tourism sector is considered as the most prepared one in the short as well as the medium run in order to contribute to reaching the hoped growth rates, creating work opportunities as well as increasing the resources.


2018 ◽  
Vol 13 (22) ◽  
pp. 151
Author(s):  
Брано Маркић ◽  
Сања Бијакшић ◽  
Арнела Беванда

Резиме: Рад је истраживање и емпиријска верификација закона Ницхолас Калдора о утицају индустријске производње на раст бруто друштвеног производа. Калдор је формулисао принципе економског раста у облику три закона који настоје утврдити кључне узроке економског раста. Први његов закон тврди да је стопа раста привреде позитивно корелирана са стопом раста њезина производног сектора. Индустрија као најважнија снага развоја привреде се поодавно анализира у литератури о привредном развоју: Hirschman (1961), Rosenstein-Rodan (1943), Th irnjall (2013), Cornnjall (1977). Циљ рада је емпиријски провјерити Калдоров приступ расту и развоју у Федерацији Босне и Херцеговине. Стога је обликован посебан скуп података кога чине дводимензионалне табеле и временске серије. Регресијском анализом је квантификована повезаност између стопа раста бруто друштвеног производа и стопе раста индустријске производње.Summary: The paper the industrialization and the growth of gross domestic product is a research and empirical verification of Nicholas Kaldor laws on the impact of industrial production to GDP growth. Kaldor has formulated the principles of economic growth in the form of three laws that tend to identify key causes of economic growth. His first law asserts that the rate of economic growth is positively correlated with the rate of growth of its manufacturing sector. Industry as the most important force of economic development is widely analyzed in the literature on economic development (Hirschman (1961), Rosenstein-Rodan (1943), Thirwall (2013), Cornwall (1977)). The aim is to empirically test the Kaldor’s approach to growth and development in the Federation of Bosnia and Herzegovina. It is therefore designed a special data set consisting of two-dimensional tables and time series. Using regression analysis was quantified the relationship between the growth rate of gross domestic product and the growth of industrial production. 


2019 ◽  
Vol 31 (1) ◽  
pp. 61-67
Author(s):  
Rwida Kreiw

Regarding the Libyan macroeconomic framework, the petroleum sector returns caused to the government and the need to support civil service job opportunity and preserve the widespread funding system. In 2006, the increasing of the price of the Libyan price oil, around US $63.05, had a significant and positive influence on the Libyan economic situation. The price increased around 65 % compared to the corresponding value in 2004 which was in averaged around US $38.In the same context, the favorable enhancement in the oil sector donated to an observable development in balance of payment surplus, which achieved around 15.4 % of gross domestic product. Also, international reserves improved to be around 19 billion US dollars. Moreover, the Libyan authorities have decreased the bank the percentage of interest rates across the board to enhance the demand in the private sector for credit and established a strategy to update the payment system. All these monetary policies and strategies affect positively on the Libyan macroeconomic and financial situations to be satisfactory in 2004.In 2005, the performance of the macroeconomic stayed comparatively strong. The gross domestic product achieved approximately about 3.5 %. Moreover, the inflation stayed 2.5 %. On the other hand, the economic development is assessed to have been created mainly 4.5 % in the non-oil sectors. In details, the non-oil sectors such as hotels and transportation, construction and services, agriculture and manufacturing sector with respectively values 7%, 5%, 2.5 % and 1.8%. unfortunately, all these sectors showed weak performance recently because of the unstable political situation in the country.Regarding to the banking sectors, according to (Murugiah and Akgam, 2015), Libyan banking sector has realized especially after the issuance of laws. In 2005, this Central Bank of Libya has significant impact on establishing banks and reorganization assets inducing them to look for new investment chances. In our model, the variables Stock Capital, Libyan Oil PriceNumber of population in Libya and dummy variable for the political instability have significant impact on the Libyan gross domestic products at 5% significance level. The heteroscedasticity and autocorrelation tests are checked in the model.Finally, we conclude that increasing (decreasing) the oil and gas prices has a significant influence on the economic development generally in Libya and on the macroeconomic indicators, such as gross domestic product, monetary policy, the unemployment rate, and the inflation rate in the country.


Author(s):  
E.V. Kutyashova ◽  
O.E. Danilin

The article is devoted to the peculiarities of the economic development of oil-producing countries, the impact of tourism on the economy of energy exporting countries and the formation of gross domestic product. The high dependence of oil-producing countries on the export of raw materials, fluctuations in the world oil market and awareness of the limited resources require a policy of diversification of national economies. Overcoming the dependence of the economy on a narrow range of economic activities, countries choose rapidly developing economic sectors that provide investment inflows, high export earnings and job creation. One such sector is tourism and travel. Within the framework of the study, countries with a high degree of dependence on energy exports were identified and grouped according to the level of economic development. To identify the role of tourism in the formation of the gross domestic product and the development of oil-producing countries, the average growth rates of the gross domestic product, the contribution of tourism to GDP, and investment in tourism were calculated for the period from 2010 to 2019. The countries that have chosen tourism as the direction of economic diversification are highlighted. An assessment of the impact of tourism on the rates of development of national economies of oil-producing countries is given.


Author(s):  
Papi Halder

This study is about the impact of selected macroeconomic variables on economic growth of Bangladesh. Economic growth of Bangladesh is measured in terms of annual nominal GDP growth rate. Least squared regression model has been employed considering exchange rate, export, import and inflation rate as independent variables and gross domestic product as the dependent variable in this study. The results reveal that export and import have significant positive impact on GDP growth rate. The other variables (exchange rate and inflation) are not significant, indicating that there exists no significant relationship among the variables. The findings will help the policy makers to make policies concerning the country’s economic growth to remain robust in the near future.


2018 ◽  
pp. 3-15
Author(s):  
Vladilen Gusarov

The socio-economic reasons of conflicts are numerous. Their premises are very different factors of the economic history of the arabic states. Among most important is the unevenness of their economic development both in the colonial and in the postcolonial periods. Until gaining independence the arabic states were on the different levels of the socio-economic development. One may explain this by many reasons of the political, geographic and socio-economic character. The most important among them are the level of development of the capitalism, the geographic proximity of the arabic states to Europe and generally to their metropolises, the military-strategic situation, the presence of the colonies of migrants from metropolises and of the national communities from other European states, the discovery of rich resources of raw materials, the influence of of the neighbouring countries’s cultures on the process of their historic and socio-economic development. As a result of long historical influence of these and many others factors different arabic countries achieved independence, but all of them were backward agrarian countries. Therefore the main differences among them manifested themselves in the degree of the backwardness Not a single arabic country had the developed manufacturing industry, which production would go to export. Some mining and oil enterprises, which were present in some of them belonged mainly to the foreign capital and practically were the heterogeneous formation in the extremely backward agrarian economy with undeveloped production forces. Only in some of these countries the light and food industry was functioning. In other branches of economy small and smallest enterprises predominated, based on personal labour of their owners and their families, who used primitive means of production. The poor possibilities of competition, the low efficiency of production mechanisms, the extreme unevenness of available natural potentials, financial and human resources, in particular skilled labour, as well as the impact of the interstate and military conflicts, the processes of globalization and growth rates of the economic development led the arabic countries to in the beginning of the new century to very different and even polar results, the main indicator of which is the gross domestic product per capita. The historic experience demonstrates, that the more is the gross domestic product of any country, the bigger state apparatus, including military forces, it may afford and use it actively for its internal as well as foreign policy. For example, arabic state Qatar in 2011 used its military forces for the overthrow of the Kaddafi regime, what led Libya to the state of collapse, and turned it to a conglomerate of several quasi-states, which are connected together by the necessity to produce and to sell oil. If to take the whole period, more than half of the century, of the existence of the arabic countries as independent states , one would hardly find any years during which the peace persisted in their territories. There have been constant military-political conflicts in different parts of the arabic world, as well as between the arabic countries and their afro-asiatic neighbours.


2021 ◽  
Vol 25 ◽  
pp. 235-260
Author(s):  
Idris Ahmed Sani ◽  
Ajengbe Abidemi Samuel ◽  
Wada Emmanuel Ome

The study examined the impact of foreign capital inflow on manufacturing sector growth in Nigeria using time series data from 1986 to 2019. The study specifically sought to examine the causal relationship between foreign capital inflows and the growth of the manufacturing sector in Nigeria in the long run The study employed the Autoregressive Distributed Lag (ARDL) estimation technique to account for the impact of foreign capital inflows on the manufacturing sector growth in Nigeria. The study utilized the Contribution of Manufacturing Sector to Gross Domestic Product (MGDP) as proxy for manufacturing sector growth. Manufacturing sector growth was the dependent variable while foreign direct investment (FDI), foreign portfolio investment (FPI) and foreign Aid (FOA) were the independent variables, and were regarded as proxies for foreign capital inflows. The study results revealed that foreign capital inflows through the FDI had a significant positive impact on contributions of the manufacturing sector to gross domestic product (GDP). The study also revealed that foreign capital inflows through the FPI had a significant positive impact on contributions of the manufacturing sector to the GDP. The study further revealed that foreign capital inflows through the FOA had a significant positive impact on contributions of the manufacturing sector to the GDP. Based on these findings, the study has recommended that the Nigerian government should promote foreign capital inflows through the FDI in order to achieve the desired level of manufacturing sector growth in the country’s economy in the long run. The government should also encourage foreign capital inflows through the FPI in order to attain the desired level of manufacturing sector growth in the Nigerian economy. Finally, the government should also support foreign capital inflows through the FOA in order to attain the desired level of manufacturing sector growth in the Nigerian economy in the long run.


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