Thesis http://repository.fuoye.edu.ng:80/handle/123456789/81 2026-04-16T07:49:40Z 2026-04-16T07:49:40Z ONYEAKU, VIVIAN ONYEMAECHI http://repository.fuoye.edu.ng:80/handle/123456789/1367 2016-07-08T10:43:12Z 2015-09-01T00:00:00Z

Title: AN EMPIRICAL INVESTIGATION INTO THE NEXUS BETWEEN INFLATION AND UNEMPLOYMENT AND THE EFFECTS ON ECONOMIC GROWTH IN NIGERIA (1970-2013) Authors: ONYEAKU, VIVIAN ONYEMAECHI Abstract: This study investigates the nexus between inflation and unemployment in Nigeria using time series data for the period 1970-2013. Using Ordinary Least Square (OLS) regression techniques, the unit root test result indicates that the variables under consideration are stationary at the order one at 5% level of significance.The OLS result shows that the coefficient of the variables, UNE, LABFORCE, GEXP, and INTRES are positive to the dependent variable (GDP) while INF and FPI are negative. Statistically, the t-statistic of the result shows that four variables, LABFORCE, INTRES, FPI and GEXP are statistically significant. The F-statistic test result indicates that the overall estimate of the regression is statistically adequate. The R2 result shows that the independent variables explain the dependent variable to the tune of 94% (percent). The Durbin Watson statistics result shows that the entire regression is statistically significant.The co-integration result shows that there are at most five cointegrating equations. The granger causality result obtained shows that there is no direction of causality between UNE and GDP and also there is no direction of causality between INF and GDP, there is a bidirectional causality between LABFORCE and GDP. The normality test result shows that the variables under consideration are not normally distributed. The multi-colinearity test result shows that there is no evidence of multi-colinearity among the variables under consideration. The heteroskedasticity test result obtained shows that the variables under consideration are homoscedastic. Descriptively, the mean values of all the variables under consideration are positive. The highest standard deviationis recorded by GDP while the least standard deviation is recorded by UNE. Based on the findings, this study therefore recommends that the government should adopt policies that will increase Gross Domestic Product because it has the tendency to maintain a stable rise in the rate of employment which is one of the macroeconomic objectives that a government strives to achieve.

2015-09-01T00:00:00Z UMUNNA, GODWIN UCHE http://repository.fuoye.edu.ng:80/handle/123456789/1349 2016-05-25T12:26:41Z 2015-08-01T00:00:00Z

Title: AN INVESTIGATION INTO THE IMPACT OF DOMESTIC AND EXTERNAL DEBT ON ECONOMIC GROWTH IN NIGERIA Authors: UMUNNA, GODWIN UCHE Abstract: Successive governments in Nigeria have over the years continued to rely on borrowing (Domestic and External) to finance deficit spending. This has led to a persistent rise in the country’s debt profile with its attendant implications on the growth and development aspirations of the country. The study thus examined the impact of domestic and external debt (public debt) on economic growth in Nigeria, covering the period 1970-2013. The study focused on determining the short and long run and also the causal relationship existing between public debt and economic growth in Nigeria. The estimation techniques employed is the Bound Testing technique, which none of the Nigerian Authors works reviewed employed as such this study fill the gap. Result of the regression analysis, revealed that domestic debt impacts negatively on economic growth, while external debt has a positive effect on economic growth in Nigeria. Also the result of the causality test showed a unidirectional causation from Domestic debt to GDP ratio to GDP growth rate, while no causation exist between External debt to GDP ratio and economic growth. The Study recommends that governments borrowing should be mainly for economic purposes, thus government should borrow to invest in the development of economic infrastructures particularly the power and transport sector. They should also channel loans to the development of the productive sectors like the manufacturing and agricultural sectors as they will yield adequate returns for debt repayment.

2015-08-01T00:00:00Z OKE, OLUWAYOMI ESTHER Adeleke, Dr. Omolade http://repository.fuoye.edu.ng:80/handle/123456789/1348 2016-05-25T12:18:48Z 2015-09-01T00:00:00Z

Title: THE IMPACT OF BUDGET DEFICIT ON PRIVATE SAVINGS IN NIGERIA, (1980 –2012) Authors: OKE, OLUWAYOMI ESTHER; Adeleke, Dr. Omolade Abstract: This research work focused on the impact of budget deficit on private savings. The scope of the study spanned from 1980 to 2012 using time series from the CBN. Budget deficit is the difference between tax revenue and government spending when government spending exceeds tax revenue while Private Savings is the amount of money that the household did not spend on consumption but rather saves it. The existing body of theory and evidence establishes a significant likelihood that budget deficits have large effects on private savings. The broad objective of this study is to investigate the impact of budget deficit on private savings in Nigeria. The methodologies employed in this study include both the descriptive and inferential analysis. This includes summary of statistic, correlation matrix of distribution, and the inferential statistics used is the regression analysis. The variables used in the study are budget deficit, interest rate, inflation rate, population, real GDP are determinants of private savings. Description: The test for correlation matrix shows a positive correlation between budget deficit and private savings. Also, the regression result shows a positive relationship between budget deficit and private savings in the economy of Nigeria which follows the Ricardian equivalences that increase in budget deficit leads to a rise in private savings which is against the Keynesian and Neo-classical view which supports the point that increase in budget deficit will increase aggregate demand and offset private savings. The study recommends that the mindset of people should be change so that the citizens will see budget deficit as injection to the economy and not as a future burden to them through fiscal discipline

2015-09-01T00:00:00Z OLUMIDE EMMANUEL, AWONIYI Y.O., ADEGOKE http://repository.fuoye.edu.ng:80/handle/123456789/1330 2016-05-17T12:01:30Z 2015-08-01T00:00:00Z

Title: THE IMPACT OF MONETARY POLICY ON THE ECONOMIC GROWTH IN NIGERIA. (1986-2013) Authors: OLUMIDE EMMANUEL, AWONIYI; Y.O., ADEGOKE Abstract: ABSTRACT Distortion of price has been a major bottleneck to the attainment of growth in developing countries. Monetary policy serves as the macroeconomic tool used to combat and alter the negative outcomes in order to maintain viability and balance in the economy. However, the dissatisfaction of the actual outcome in relation to the targeted outcome has led to the discussion on the roles and effects of monetary policy on the economy in terms of growth. The study investigated the impact of monetary policy on economic growth in Nigeria. The research utilized data gathered from the World Bank and various statistical bulletins and annual reports from the Central Bank of Nigeria for the period 1986-2013. The Cointegration method is employed in the analysis of the data gathered with the aid of E-Views on the model consisting of exchange rate, interest rate, broad money supply and inflation as the exogenous variable while Gross Domestic Product is the endogenous variables. The findings indicate that monetary policy instrument (exchange rate) has a positive impact on the Gross Domestic Product by playing a crucial role in the increase in productivity for the 29 years span period and inflation, broad money supply, interest rate have negative impact on Gross Domestic Product. The study recommends that the monetary policy authorities and other financial regulatory body have to come up with possible solution that can help in addressing the long time negative influence of inflation, broad money supply and interest rate on economic growth. They must also ensure that the stability of the exchange rate is protected in order to ensure steady growth in the economy. Description: This research is carried out to study the impact of monetary policy on economic growth in Nigeria during the period of 1986 to 2013. It was examined by considering the effect of monetary policy on some selected macroeconomic variables or components i.e. Gross Domestic Product, Inflation rate and Exchange Rate, Interest Rate, Broad Money Supply through the use of Co-integration method of analysis. The monetary policies employed by the Central Bank of Nigeria has played a crucial role in the stabilization of money circulation and monitoring credit facilities and all things regarding monetary matters to foster healthy investment and savings in order to achieve its objectives and also to attain economic growth.

2015-08-01T00:00:00Z SHOKANBI, GBEMISOLA RUKAYAT http://repository.fuoye.edu.ng:80/handle/123456789/1318 2016-05-11T13:05:37Z 2015-08-01T00:00:00Z

Title: THE RELATIONSHIP BETWEEN EXCHANGE RATE VOLATILITY AND STOCK MARKET PERFORMANCE IN NIGERIA Authors: SHOKANBI, GBEMISOLA RUKAYAT Abstract: This study empirically examined the relationship between exchange rate volatility and stock market performance in Nigeria. The study employed the quarterly data on stock market capitalization, exchange rate, real GDP growth rate, broad money supply, and real interest rate from the Central Bank of Nigeria for the period of 1980-2014; this data frequency was selected to ensure adequate number of observations. Augmented Dickey Fuller Test and Johansen Cointegration test were also carried out to check for the time series properties of the variables, also the standard deviation was used to generate exchange rate volatility series for the period under consideration. The study utilized multiple regression method to know the long run effect of exchange rate volatility on stock market performance. The long run result shows that exchange rate volatility, broad money supply and real GDP growth rate have positive effects on stock market performance, while real interest rate has a negative effect on the stock market performance. Positive although weak relationship was confirmed to be the relationship between exchange rate volatility and stock market performance. The study recommended that since the exchange rate volatility is not negatively related to the stock market performance in Nigeria, government can use the exchange rate as a policy tool to attract investors; and also as a result of the weak relationship between the exchange rate volatility and stock market performance, the Nigeria stock market should ensure some hedge instruments that would shock any negativity that might occur as a result of the unstable exchange rate.

2015-08-01T00:00:00Z OLUMIDE EMMANUEL, AWONIYI ADEGOKE, Y.O. http://repository.fuoye.edu.ng:80/handle/123456789/1315 2016-05-10T12:44:27Z 2015-08-01T00:00:00Z

Title: THE IMPACT OF MONETARY POLICY ON THE ECONOMIC GROWTH IN NIGERIA. (1986-2013) Authors: OLUMIDE EMMANUEL, AWONIYI; ADEGOKE, Y.O. Abstract: Distortion of price has been a major bottleneck to the attainment of growth in developing countries. Monetary policy serves as the macroeconomic tool used to combat and alter the negative outcomes in order to maintain viability and balance in the economy. However, the dissatisfaction of the actual outcome in relation to the targeted outcome has led to the discussion on the roles and effects of monetary policy on the economy in terms of growth. The study investigated the impact of monetary policy on economic growth in Nigeria. Description: This research is carried out to study the impact of monetary policy on economic growth in Nigeria during the period of 1986 to 2013. It was examined by considering the effect of monetary policy on some selected macroeconomic variables or components i.e. Gross Domestic Product, Inflation rate and Exchange Rate, Interest Rate, Broad Money Supply through the use of Co-integration method of analysis. The monetary policies employed by the Central Bank of Nigeria has played a crucial role in the stabilization of money circulation and monitoring credit facilities and all things regarding monetary matters to foster healthy investment and savings in order to achieve its objectives and also to attain economic growth.

2015-08-01T00:00:00Z IKUPOLUYI, SUNDAY ELISERI http://repository.fuoye.edu.ng:80/handle/123456789/1305 2016-05-06T11:31:45Z 2015-08-13T00:00:00Z

Title: IMPLICATION OF UNEMPLOYMENTON ECONOMIC GROWTH IN NIGERIA Authors: IKUPOLUYI, SUNDAY ELISERI Abstract: This study was carried out to investigate the implication of unemployment on economic growth in Nigeria. The objective of this study is to ascertain the shortrun and long-run relationship of unemployment on economic growth. That is, to verify if unemployment and economic growth cointegrate and to check the speed of adjustment. The researcher adopted the methodology of the Ordinary Least Square (OLS) techniques, unit root test serial correlation, and the error correction mechanism (ECM) using the Quadratic Hill Climbing Approach. The result revealed that the relationship between unemployment and economic growth is negative, the short-run impact shows that a percentage increase in unemployment rate will reduce GDP at constant price by 27274.45, holding other variables constant, there is uni-directional causality between unemployment and economic growth, at least six variables co-move in the longrun. A percentage increase in unemployment reduces economic growth by 1.13%. Again, the study showed that the speed of adjustment from short-run disequilibrium to the long-run equilibrium is approximately 6years. The study therefore recommends that the government should invest more on entrepreneurial programs to reduce unemployment and stimulate economic growth, proper diversification of the economy, the monetary policy committee of the Central Bank should make policy instrument favourable to stimulate investment in real sector, comprehensive economic planning, policy on discrimination based on disabilities and population control to reduce the

2015-08-13T00:00:00Z AWONIYI, OLUMIDE EMMANUEL ADEGOKE, Y.O. http://repository.fuoye.edu.ng:80/handle/123456789/1215 2016-05-10T12:46:42Z 2015-08-01T00:00:00Z

Title: THE IMPACT OF MONETARY POLICY ON THE ECONOMIC GROWTH IN NIGERIA.(1986-2013) Authors: AWONIYI, OLUMIDE EMMANUEL; ADEGOKE, Y.O. Abstract: Distortion of price has been a major bottleneck to the attainment of growth in developing countries. Monetary policy serves as the macroeconomic tool used to combat and alter the negative outcomes in order to maintain viability and balance in the economy. However, the dissatisfaction of the actual outcome in relation to the targeted outcome has led to the discussion on the roles and effects of monetary policy on the economy in terms of growth. The study investigated the impact of monetary policy on economic growth in Nigeria. The research utilized data gathered from the World Bank and various statistical bulletins and annual reports from the Central Bank of Nigeria for the period 1986-2013. The Cointegration method is employed in the analysis of the data gathered with the aid of E-Views on the model consisting of exchange rate, interest rate, broad money supply and inflation as the exogenous variable while Gross Domestic Product is the endogenous variables. The findings indicate that monetary policy instrument The study recommends that the monetary policy authorities and other financial regulatory body have to come up with possible solution that can help in addressing the long time negative influence of inflation, broad money supply and interest rate on economic growth. They must also ensure that the stability of the exchange rate is protected in order to ensure steady growth in the economy.

2015-08-01T00:00:00Z ODENIYI, BISOLA DEBORAH Amassoma, D. http://repository.fuoye.edu.ng:80/handle/123456789/1196 2016-05-09T12:15:36Z 2015-08-01T00:00:00Z

Title: THE IMPACT OF EXCHANGE RATE FLUCTUATION ON NIGERIAN ECONOMIC GROWTH (1970-2013) Authors: ODENIYI, BISOLA DEBORAH; Amassoma, D. Abstract: This research work is centered on the impact of exchange rate fluctuation on the Nigerian economic growth emphasizing the purchasing power of the average Nigerians and the level of international transaction. Exchange rate fluctuations have been of serious concern to the monetary authorities, policy makers and business tycoons of developing countries, Nigeria inclusive because of the relevance of exchange rate in international trade, investment and in determining the level of output growth of a country. Therefore it is vital to examine the degree at which exchange rate fluctuates which had called for a lot of attention in Nigeria. This study examined the Impact of Exchange Rate Fluctuation on the Nigerian Economic Growth using an annual data of forty-three Description: With respect to the objective of this study, it was observed from the discussion on the short run analysis that exchange rate volatility had no significant effect on economic growth in the short run.

2015-08-01T00:00:00Z KUNLE-ONI, TEMITOPE ATINUKE http://repository.fuoye.edu.ng:80/handle/123456789/1194 2016-05-09T12:12:37Z 2015-08-01T00:00:00Z

Title: THE EFFICACY OF MONEY SUPPLY ON ECONOMIC GROWTH IN NIGERIA (1980-2014) Authors: KUNLE-ONI, TEMITOPE ATINUKE Abstract: Money is a legal tender generally acceptable by law as a medium of exchange. Money Supply implies the amount of cash and currencies available in economy insufficiently liquid and spendable forms at any point in time. It is on this notion that money forms a very important instrument which can be manipulated as a money stock variable in order to control money supply in the economy. The LM curve is a graph that shows all combination of interest rate supply and demand for money in the financial market when the money supply curve is fixed. The relationship between money supply and economic growth has been receiving incre Description: The relationship between money supply and economic growth has been receiving increasing attention than any subject matter in the field of monetary economics in recent years.

2015-08-01T00:00:00Z ALE, OLUWATOMILOLA Christopher, Ehinomen http://repository.fuoye.edu.ng:80/handle/123456789/1148 2016-05-05T12:47:02Z 2015-08-01T00:00:00Z

Title: THE IMPACT OF EXCHANGE RATE ON INFLATION RATE ON NIGERIAN ECONOMY(1980-2013) Authors: ALE, OLUWATOMILOLA; Christopher, Ehinomen Abstract: This study carried out the impact of exchange rate on inflation rate in Nigeria for the period of 34 years, ranging from 1970 to 2014.Generally, Inflation is considered harmful to the economy of any country. The history of the origin of inflation in Nigeria has been dates back to the 1970s during the sharp rise in oil revenue and the implementation of a fixed exchange rate regime within the same period. Consequently, the researcher tried to investigate the short run and the long run relationship between inflation and exchange rate and the other care variables, co- integration a between inflation and exchange rate and other care variables was also carried out. Engel granger approach was used to ascertain the co-integration of the variables. The above is one of the statistical diagnostics carried out before the data analysis. The least square method, Augumented dickey fuller correction model were adopted to determine the stationarity levels, short run impacts and long run impacts respectively. The researcher discovered among other things that exchange rate has a negative effect on inflation rate both in the short run and the long run, this maybe as a result of structural rigidities and distortions of the government in the economy, also all the care variables account for only about 28% of the causes of inflation, this means that there are some other more important factors that need to be investigated, such other factors may relate to government growing annual deficit budgets, increasing lending rates of commercial banks and so on. Among the recommendations drawn from this study is that the government should improve upon the exchange rate management frameworks and structure in Nigeria, and also the financial institutions and other institutions in charge of the exchange rate management in Nigeria should be strengthened to address the recurrent issues so that the benefit associated with exchange rate stability and inflation rate can be experienced in the Nigerian economy Description: The study examined the impact of exchange rate on Inflation rate in the Nigerian Economy over the period of 1980-2014. The study employs ordinary least square method of estimation using e- views 7.2 statistical package for the analysis

2015-08-01T00:00:00Z ALADETIMI, TEMITOPE ALADETIMI, TEMITOPE http://repository.fuoye.edu.ng:80/handle/123456789/1147 2016-05-05T12:37:41Z 2015-08-01T00:00:00Z

Title: THE IMPACT OF AGRICULTURAL EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA (1980-2013) Authors: ALADETIMI, TEMITOPE; ALADETIMI, TEMITOPE Abstract: This study empirically examined the impact of agricultural expenditure on agriculture on economic growth in Nigeria over the years iv determine the impact of agricultural expenditure on economic growth in Nigeria from 19802013. This study used secondary source of data, which covers about 35 years. Co-integration estimating technique of data analysis was used in evaluating the secondary data. GDP was used as a proxy to economic growth, while agricultural output and government expenditure on agriculture were used as indicators of government expenditure on agriculture. From the findings; agricultural output and GDP are positively related, government expenditure on agriculture and GDP was negatively related. It was found that a negative relationship exist between agricultural expenditure and the economic growth in Nigeria. The findings also revealed that the sector still encounter some problems like inadequate finance, poor infrastructure, and others. Therefore, the study recommends that it is imperative for the country to develop its agricultural sector through sufficient government spending in order to set-up its economic growth. It emphasizes the need to enlighten farmers, improve and provide infrastructures, accord a priority to the sector in budget allocation, enthrone adequate and appropriate extension services, among other measures laid by the government. Description: The study examined the impact of agricultural expenditure on economic growth in Nigeria over the period of 1980 to 2013. The study employs co-integration estimating technique. The findings indicate that agricultural expenditure has negative impact on the economic growth in Nigeria.

2015-08-01T00:00:00Z JONATHAN, DAMILOLA DORCAS http://repository.fuoye.edu.ng:80/handle/123456789/1145 2016-03-21T12:26:50Z 2015-08-01T00:00:00Z

Title: THE IMPACT OF CASHLESS BANKING ECONOMIC POLICYON THE ECONOMIC GROWTHIN NIGERIA Authors: JONATHAN, DAMILOLA DORCAS Abstract: The study examines the impact of cashless banking economic policy on the economic growth in Nigeria. Data covering the period 1981-2013 was collected fromCentral Bank of Nigeria bulletin, the World Bank time series data was examined using Augmented Dickey Fuller test and Phillip Perrron unit root tests. The dependent variable is Real Gross Domestic Product growth The table shows that three stationary at first difference.Cash-Deposit ratio stationary at level; while GDP growth established to account if there is a long run relationship among the variables. It was discovered that the variables; the coefficient of cash-deposit ratio is positive. The implication of this is that as the economy goes cashless, the growth rate of real GDP declines and money supply has a positive relationship with the gross domestic product(make cashless policy mandatory in order to achieve an increase in economic growth.

2015-08-01T00:00:00Z AKINSANMI, RONKE Christopher, Ehinomen http://repository.fuoye.edu.ng:80/handle/123456789/1144 2016-05-05T10:32:19Z 2015-08-01T00:00:00Z

Title: THE NEXUS BETWEEN BOND PRICE AND INTEREST RATE IN NIGERIA: EVIDENCE FROM NIGERIA STOCK EXCHANGE. Authors: AKINSANMI, RONKE; Christopher, Ehinomen Abstract: The study evaluates the nexus between Bond price and Interest rate in Nigeria from 1988 to 2014 using time series data from the Central Bank of Nigeria. The financial systems of most developing countries including Nigeria have being under financial stress as a result of the economic shock of the 1980’s .Consequently, the researcher tried to investigate the possibility of short run and long run relationship between Bond price and Interest rate, causality between Bond price and Interest rate, the cointegration between Bond price and Interest rate was also carried out .The study employs Estimated cointegration test, Johansen cointegration, Vector Error Correction model and Granger Causality test procedure. The result obtained shows that all the variables under consideration are stationary at order one in the Augmented Dickey Fuller unit root test procedure .The Johansen cointegration test result indicates at most two Cointegrating equations. The result on the relationship between bond price and interest rate shows that there exist a long run relationship between bond price and other variables used in the model and also an inverse relationship exist between bond price and interest rate during the period under review. The Vector Error Correction result conducted indicates that none of the independent variables except all share index has a significant short run impact on bond price during the period under study. The result of the Granger Causality test equally shows that the null hypothesis that interest rate does not granger cause bond price is accepted at 5% significant level .Based on the findings, the researcher recommends that the government should introduce a low interest rate regime that will enhance economic growth in Nigeria also, the government should employ means of correcting the structural rigidities that is experienced in the country so as to normalize the relationship between Interest rate and bond market in Nigeria. Description: Interest rate and Bond prices are part of the important factors that can bring about economic growth in a country. The impact of Interest rate on bond prices provides important implications for monitory policy, risk management practices, financial Securities valuation and government policy (

2015-08-01T00:00:00Z