Papers by Dr. Olabisi Olabode
Issues in Social Science
The aims of this research work are to test the dynamic response of economic growth to financial d... more The aims of this research work are to test the dynamic response of economic growth to financial development and information and communication technology (ICT), and to investigate whether the interaction of financial development with better ICT infrastructure can promote economic growth. Growth theories predict that financial development and ICT positively influence economic growth, but the results are mixed. Therefore, the current study examines the dynamic response of economic growth to financial development and information and communication technology (ICT) for eight selected sub-Saharan African (SSA) countries covering 2000–2021. Applying pooled mean groups and mean group estimators, the findings reveal that ICT enhances growth in SSA, but financial development is otherwise. The result further shows that with the interaction of ICT with financial development, economic growth is positively influenced. Since the region is still undergoing development, it is suggested that there sho...
International Journal of Academic Research in Business and Social Sciences, 2020
The main aim of this study was to empirically examine the possibility for Nigeria to leverage non... more The main aim of this study was to empirically examine the possibility for Nigeria to leverage non-oil tax revenue for inclusive and pro-poor growth. This is done through an analysis of quarterly data on oil tax revenue and non-oil tax revenue factors spanning 2011-2016. The study adopts Fully Modified Ordinary Least Square (FMOLS) estimation strategy in order to make inferences. The results of our analysis show that non-oil tax revenue has a positive contribution to inclusive growth in Nigeria than oil revenue. Based on this empirical evidence, non-oil tax revenue has the potential of aiding sustainable inclusive growth in Nigeria; hence the economy of Nigeria should be diversified intensively to increasingly harness the potential opportunities of the real sectors where non-oil tax revenue is generated in order to attain sustainable inclusive and pro-poor growth.
Quit a number of similarities could be drawn from Nigeria and Malaysia. For instance, the duo is ... more Quit a number of similarities could be drawn from Nigeria and Malaysia. For instance, the duo is in the tropical region, which favours agricultural cultivation. Also, both countries gained their independence from the same colonial master (British) in almost the same year, and practice federal system of government. Today, Malaysia as part of the emerging economies has set a better economic pace in the country`s development, and hoping to attain her vision 2020 of joining the developed economies of the world. However, Nigeria is in economic recession at present as a result of a shortage in the export earnings. This paper uses autoregressive distributive lags (ARDL) model, annual data from 1980 to 2015 to compare the macroeconomic variable performances of both countries. The paper finds that Malaysian import shows a negative and significant result, and the gross capital formation and export are positive and significant to determine economic growth in both the short-run and long-run. Th...
Previous works are yet to reach a consensus about the direction of causality between Trade Openne... more Previous works are yet to reach a consensus about the direction of causality between Trade Openness (TO), Foreign Direct Investment (FDI) and Economic Growth (EG), in particular, using a panel data analysis for Sub-Saharan African (SSA) countries. This study adopts first and second generation econometric methods to analyse the relationships between trade openness, FDI and economic growth in Sub-Saharan Africa countries over the period 1980-2016. The Westerlund cointegration, the Common Correlated Effect Mean Group (CCEMG), and the Bootstrapp Granger causality econometric techniques were adopted. Findings show there is a cross-sectional dependence among the 23 SSA countries examined. A long-run cointegration among trade openness, FDI and economic growth also exists. A positive and significant relationship exists between trade openness and economic growth. FDI indicates a positive and significant relationship with economic growth. The panel error correction term (ECT) result further c...
This article investigates the relationship between the level of tourism expenditures and economic... more This article investigates the relationship between the level of tourism expenditures and economic growth using a short time panel dataset covering 15 West African Countries from 2007 to 2015. The fixed effects results show that tourism expenditures and tourism receipts are insignificant to explain ECOWAS per capita Gross Domestic Product (GDP) growth. The paper finds that gross capital formation (physical capital) and labour force are positive and significant mechanisms for growth in the per capita income of ECOWAS economy. The paper recommends that ECOWAS should sell all the unused buildings, equipment, machineries and other viable governments’ assets to raise capital for investment which may boost gross domestic product if the proceeds from the sales of the assets are well utilised.
International Journal of Economics and Empirical Research, 2015
Purpose: The present study investigates the relationship between trade and economic growth. Metho... more Purpose: The present study investigates the relationship between trade and economic growth. Methodology: This paper uses the Johansen co-integration approach, Fully Modified Ordinary Least Square (FMOLS) approach to analyse the relationship among trade liberalization, export, import, population growth and economic growth. Findings: Results show there is long run equilibrium among trade liberalization, export, import, population growth and economic growth. A negative and significant relationship exists between trade liberalization and economic growth. Both export and import show positive and significant results. Population shows an insignificant effect on economic growth of Nigeria. It is therefore concluded that concern about trade liberalization in Nigeria should not be a priority. Recommendations: However, the paper recommends among others that priorities should be given on how to fight corruption which is the major problem of the country.
Quarterly Journal of Econometrics Research, 2021
As the prices of daily needs are aggravating in Nigeria, the value of the country’s currency (nai... more As the prices of daily needs are aggravating in Nigeria, the value of the country’s currency (naira) is less appreciated on a daily basis, and this pose a threat to a good standard of living in Nigeria. Therefore, this study investigated the impact of foreign capital inflows on the persistent increase in inflation in Nigeria over the period of 1985 to 2019. The Autoregressive Distributed Lags was used to obtain the parameter estimates of the long run relationship between foreign capital inflows and inflation. By using the Forecast Error Variance Decomposition techniques, the cause-effect analysis of foreign capital inflows and inflation was determined. Results provide evidence of a long run relationship between the series. Results further indicate that inflation is sensitive to foreign capital inflows variables such as net official development assistance received and remittance inflows in Nigeria. Policies that reduce the negative impact on inflation are recommended in the body of t...
International Journal of Economics and Financial Issues, 2015
Investment in human capital in relation to global world is to achieve an optimum return in terms ... more Investment in human capital in relation to global world is to achieve an optimum return in terms of a gainful employment, productivity and high standard of living. This paper uses autoregressive distributed lag model to determine the cointegration, long run and short run elasticities among human capital, economic growth, economic globalization and foreign direct investment (FDI), for the period 1980-2011. The empirical results reveal that there is a long run relationship among the variables tested in this study. Also, economic growth and FDI show a positive impact on human capital and economic globalization indicates a negative impact on human capital in Nigeria.
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Papers by Dr. Olabisi Olabode