Papers by Oluchukwu Anowor
International journal of economics and financial research, May 10, 2019
Attaining sustainable agricultural development in any economy indubitably points towards ensuring... more Attaining sustainable agricultural development in any economy indubitably points towards ensuring improved quality of life and enough food for both present and future generations. The need to understand the links between agricultural output and health outcomes necessitates an inquiry to ascertain the extent the changes in health outcomes can influence agricultural output. This study using the dynamic error correction built an econometric model such that mortality rate and life expectancy are proxies for health outcomes while agricultural output is the dependent variable; HIV/AIDS is the dummy. Results showed that HIV/AIDS has lethal effects on health outcomes and aggregate output. It revealed that health outcomes also have significant impact on agricultural output potentials; and there is a causal relationship between health outcomes and agricultural output in Nigeria. This implies that if the healthcare system in Nigeria can be taken as a policy priority, a tremendous increase in the agricultural sector is unarguably expected. A simultaneous front involving both the public and private sectors in extending the healthcare services is necessary to enable workers and prospective workers access to healthcare delivery; this will invariably boost the agricultural output.
Cogent economics & finance, Feb 16, 2023
Systemic risk is the risk associated with the collapse or failure of a company, industry, financi... more Systemic risk is the risk associated with the collapse or failure of a company, industry, financial institution, or an entire economy. On the other hand, financial instability is concerned with an economy's saving-investment nexus. The main objective of the study is to investigate the effect of systemic risk and financial instability in a recessed economy. The specific objectives are to determine the effect of systemic risk on the Nigerian economy and to examine the effect of financial instability on the Nigerian economy. The study adopted the survey method to achieve its objectives. The survey was designed to elicit responses from respondents on the impact of systemic risk and financial system instability in Nigeria. It was found that systemic risk and financial system instability negatively and significantly impact on a recessed economy. This implies that both systemic risk and financial instability may cause economic recession or worsen an already exiting situation.
Solid State, 2022
Looking at the perspective of investment theory, financing research and development (R&D) is the ... more Looking at the perspective of investment theory, financing research and development (R&D) is the starting point in developing and accumulating needed resources in sustaining the survival of an organization. This work seeks out on the effect of Research and Development (R&D) funds on managing sales leads with the commercialization of completed research project in Enugu State as case study. A sample size of 355 staff was drawn from a population of 4680 using Freund and William formula. The study used the survey approach. The primary sources were personal interview and the administration of questionnaire to staff
Coffee Science, 2019
Coffee husk and coffee pulp are by-product of coffee fruit and bean processing, can be considered... more Coffee husk and coffee pulp are by-product of coffee fruit and bean processing, can be considered as potential functional ingredients for food production as coffee cherry flour (CCF).  The CCF contains a lot of carbohydrates, proteins, caffeine, tannins, and polyphenols. In this study, CCF was combined with modified arrowroot starch (MAS) and modified cassava flour (MOCAF) into cookies and improvement on the physical, chemical, and nutraceutical properties of the cookies were studied. The cookies consisted of 20 % of MOCAF and 80 % mixed of modified arrowroot starch and CCF in five levels (80 %:0 %; 75 %:5 %; 70 %:10 %; 65 %:15 %; 60 %:20 %) and objective physical, chemical, and nutraceutical properties of the cookies were assessed. The results showed that the total dietary fiber content was enhanced from 11.69 % to 19.48 % with a high proportion of 20 % CCF. The cookies added with CCF displayed enhanced antioxidant activity. Acceptable cookies were obtained by adding 5 % CCF. Thus,...
Solid State Technology, Apr 30, 2020
Nigeria has over the years been controlling her economy through various macroeconomic policies of... more Nigeria has over the years been controlling her economy through various macroeconomic policies of which monetary policy is among using some monetary policy instruments in efforts to drive along the desired path. This study empirically reassessed the impact of monetary policy on economic growth of Nigeria adopting the Error Correction Model approach. It utilized time series secondary data spanning between 1982 and 2013. The result showed that a unit increase in Cash Reserve Ratio (CRR) led to approximately seven units increase in economic growth in Nigeria. The result was in consonance with economic literature as monetary policy among other objectives is geared towards achieving the macroeconomic objectives of sustained economic growth and price stability. Therefore, the study recommends that monetary authorities should give priority attention to CRR monetary policy tool as it will produce a more desired result in terms of economic stabilization. And also some combination of fiscal p...
Despite consistent increase in inflow of investment to developing countries, there are still stro... more Despite consistent increase in inflow of investment to developing countries, there are still strong indications of low per-capita income, high unemployment rates, high rates of inflation and low and falling growth rates in these countries. These are economic instabilities which foreign direct investment is theoretically assumed to be the panacea. This study employed an econometric method to analyze the contributions of foreign direct investment to the growth of manufacturing sector in Nigeria using annual time series data of the choice variables from 1970 to 2011. Among the findings was that Foreign Direct Investment (FDI), Domestic Investment (DINVT), Exchange Rate (EXR) and the Degree of trade Openness (DOPN) were all related to Manufacturing sector Output Growth (MANFQ) in Nigeria. More so, the Foreign Direct Investment, Degree of trade openness, exchange rate and the lagged error term were statistically significant in explaining variations in Nigeria's Manufacturing Output G...
International Journal of Supply Chain Management, 2019
The concerns of dwindling food supply and over dependence on imported foods in Nigeria, especiall... more The concerns of dwindling food supply and over dependence on imported foods in Nigeria, especially in the face of dwindling foreign exchange, has prompted attention of experts on how to improve production and marketing of home-grown local food crops. The study assessed the quality characteristics and price preferences of consumers of Cowpea in the Niger State, Nigeria. The study adopted the survey design using quantitative research strategy. Primary data was collected from 600 famers over a 30-month period through the instrumentality of questionnaire. Hedonic price model was used to estimate the relationship between price and cowpea characteristics, and the Ordinary Least Square (OLS) analytical technique to investigate the impact of intrinsic characteristics on price in five varieties of cowpea. The regression analysis revealed that the respective value of R2 for Chanchaga markets is 0.72 and Bida markets is 0.77 which means that 72% and 77% of changes in the price of cowpea is exp...
A typical disturbing feature of most developing countries is a sprawling disparity between econom... more A typical disturbing feature of most developing countries is a sprawling disparity between economic growth as measured by increase in gross domestic product and concrete progress in real welfare of the citizenry measured by standard of living, access to employment and poverty reduction. Contrary to natural logic, available evidence suggests that both variables are inversely related. There is equally a consensus among scholars of inherent potential of micro, small and medium enterprises (MSMEs) as a veritable agency for income and prosperity spread and thus a vehicle for inclusive growth. This paper empirically investigates the nexus between MSMEs and inclusive economic growth. With data ranging from 1980 to 2016, it specifically built econometric model to capture the link between Gini coefficients (proxy for inequality gap) and identified key determinants of viable MSMEs sub-sector: volume of credit to MSMEs, MSMEs’ contribution to national output, lending cost, cost of doing busine...
This work internalized the influence of deforestation on economic and social welfare in Port Harc... more This work internalized the influence of deforestation on economic and social welfare in Port Harcourt City. The study espoused the survey approach through special surveillance, conversations and opinion pull and the data collected was analyzed to obtain the variances, correlations and regression models. The results of the research showed that deforestation significantly and negatively affected output and social welfare in Port Harcourt City and also negatively and significantly affected income of the farming communities. It therefore recommended that governments should take urgent steps to discourage unsustainable deforestation and at same time encourage reforestation to improve output, income and enhance social welfare.
International Journal of Applied Economics, Finance and Accounting, 2018
Nigeria has been witnessing, for some three decades now, a rising trend in the size of her public... more Nigeria has been witnessing, for some three decades now, a rising trend in the size of her public expenditures and questions been raised on whether this upsurge could be related to economic growth. This study deliberately sets to reexamine the nexus between public expenditures and public expenditures in Nigeria adopting the Error Correction Model (ECM) estimation technique and the Pairwise Granger Causality test with disaggregated yearly data between 1980 and 2016. The findings suggested that the capital spending of the government has an inverse relationship with economic growth and also significant influence on economic growth. The government recurrent spending has a direct relationship with economic growth but statistically insignificant effects on economic growth. There is no causal relationship, as suggests by the result of the Granger Causality test, between public capital expenditure and economic growth. While there is existence of unidirectional causalities where exchange rate caused economic growth; economic growth caused private foreign investment; and economic growth caused public recurrent expenditure. The recommendations suggest that governments should make more provision for capital expenditures in the budget and ensure implementations are being properly monitored to ensure that the funds are not diverted to other uses; while cost of governance should be moderated with a view of making less provision for recurrent expenditure.
Risk Governance and Control: Financial Markets & Institutions, 2017
The Nigerian economy in the last two decades up until 2013 has been growing at an average of 6% a... more The Nigerian economy in the last two decades up until 2013 has been growing at an average of 6% and yet unemployment was equally growing in the region of 20% within the same period. This paradoxical situation has led to a flurry of studies and postulations aimed at providing explanation and solution to the phenomenon. This study making use of a regression model with annual data from 1980 to 2013, empirically determined the impact of public sector expenditures (CEXP and REXP) together with private sector investment (PINV) on unemployment (UNEMP) in Nigeria. Capital expenditure and private sector investment both in the medium to long-run were found to serve as catalyst towards reduction of unemployment, while recurrent expenditure was not statistically strong enough to do same. The R-2 (0.84) showed that greater proportion of the total variations in UNEMP was brought about by variations in the regressors. Further tests like autocorrelation, hetroscedasticity, specification error, and ...
Cogent Economics & Finance, 2020
The performances of African countries particularly in West African Subregion on global-human deve... more The performances of African countries particularly in West African Subregion on global-human development indices had been abysmal over the years and have worsened in the face of COVID-19 pandemic. This is a source of concern to scholars. Expenditure on health and education are recognized by experts as key predictors of human capital development. The latter is theoretically adjudged as a major driver of socioeconomic development. This study investigated the relationship between health financing and economic performance (proxied by per capita GDP) among the 15 member countries of Economic Community of West African States (ECOWAS). Data spanning the period 1985-2017 were used and Panel Autoregressive Distributive Lag (PARDL) technique was adopted for the analysis. Results show that both private and public expenditures on healthcare were statistically significant to grow output per capita in the long-run. Further findings also suggest that other socioeconomic covariates that affected the outcome of aggregate economic performance like price level of capital formation and population growth rate implicitly affected output per capita in the Sub-region. Recommendation points to all critical stakeholders to show more commitment and allocate more resources towards improved
The Nigerian economy in the last two decades up until 2013 has been growing at an average of 6% a... more The Nigerian economy in the last two decades up until 2013 has been growing at an average of 6% and yet unemployment was equally growing in the region of 20% within the same period. This paradoxical situation has led to a flurry of studies and postulations aimed at providing explanation and solution to the phenomenon. This study making use of a regression model with annual data from 1980 to 2013, empirically determined the impact of public sector expenditures (CEXP and REXP) together with private sector investment (PINV) on unemployment (UNEMP) in Nigeria. Capital expenditure and private sector investment both in the medium to long-run were found to serve as catalyst towards reduction of unemployment, while recurrent expenditure was not statistically strong enough to do same. The R-2 (0.84) showed that greater proportion of the total variations in UNEMP was brought about by variations in the regressors. Further tests like autocorrelation, hetroscedasticity, specification error, and ...
This study sets to assess the effect of government intervention on economic development adopting ... more This study sets to assess the effect of government intervention on economic development adopting Songhai Development Initiative Farm in Rivers State of Nigeria as a case study. It adopted the survey design with the instruments of personal observations, interviews and questionnaires to collect the required data. The data has internal consistency of 0.87, test-retest reliability of 0.85 (p < 0.001), split-half reliability of 0.82 (p < 0.001). The mean of 3 points was chosen as a cut off point for accepting or rejecting each of the items in the Likert's scale. The Chi-square was also used to test the h pothesis. ll items have mean that are higher than the cutoff mark and this is supported by low standard deviation for all the items which depicts a low variation of the observations from the mean. With the calculated Chi-square greater than the table value (i.e 30.34957 > 21.026) in absolute term, the study concludes that there is a significant relationship between Songhai D...
The symbiotic relationship between adequate funds to real sector and speed of economic growth is ... more The symbiotic relationship between adequate funds to real sector and speed of economic growth is not in contention. Consequently, the successive Nigerian governments have made several policy attempts in the last three decades at ensuring that funds are channeled to savings deficits. These efforts notwithstanding, the economy at a glance, seems not to have made remarkable progress. What is more, there is dearth of empirical studies specifically targeted at assessing the specific contribution of financial intermediation to economic growth in Nigeria. It is this gap that this study sought to fill. To realize the goal of this study, we adopted Private Investment (PRIVET) as the regressand and Financial Savings as a ratio of Real Gross Domestic Product (FS/RGDP), Credit Extended to Private Sector by deposit money banks (CEPS), Prime Lending Rate (PLR) & Real Gross Domestic Product (RGDP) as the regressors. The study employed econometric method to construct a multiple regression model to ...
The Nigerian economy has for decades precariously leaned on the fragile leg of crude oil. Consequ... more The Nigerian economy has for decades precariously leaned on the fragile leg of crude oil. Consequently, it has had a checkered growth trajectory driven by the vicissitudes of oil prices. An emerging trend suggests that in the last seven years the economy was growing without job creation and poverty reduction. Expectedly, attention of scholars had shifted towards non-oil export as a remedial for this quagmire. This study investigates the specific impact of the non-oil exports to the growth of Nigerian economy using data between 1981 and 2012.. The study adopted the Augmented Production Function (APF), employing the Endogenous Growth Model (EGM) in its analysis. The conventional tests for mean reversion and co-integration were employed. Findings reveal a very weak and infinitesimal impact of non-oil export in influencing rate of change in level of economic growth in Nigeria. The study, apart from empirically providing information that has failed to give backing to recent claims of non...
This study decided to investigate the success and failure of monetary policy in tackling inflatio... more This study decided to investigate the success and failure of monetary policy in tackling inflation in order to achieve desired economic objectives by making use of the econometric procedure in estimating the relationship between the variables. The method of data analysis is the ordinary least square1 multiple regression. The results of our analyses showed that the instruments of monetary policy would have had a greater impact on inflation if inflation were not of structural nature. As a conclusion, the financial system needs to be strong, sound, viable, and shock-resilience in order to achieve the standard of a sustainable economy.
European Journal of Business and Management, 2013
Taxation as an instrument of fiscal policy has been a source of revenue to nations. This work set... more Taxation as an instrument of fiscal policy has been a source of revenue to nations. This work sets to evaluate the contributions of Value Added Tax (VAT) to resource mobilization in Nigeria. The Ordinary Least Square (OLS) method of simple regression analysis was employed to determine the relationships between VAT and Real Gross Domestic Product (RGDP), VAT and Current Revenue (CREV), VAT and Internal Revenue (INREV); also the impact of VAT on RGDP, CREV and INREV. The general conclusion is that the VAT is an ideal form of taxation in Nigerian tax system and has significantly contributed to resource mobilization as well as capital formation to the economy. The recommendation is that all that are involve (both payer and administrator) should be adequately motivated to enable each in his/her own sphere perform well to ensure higher levels of efficiency and effectiveness. Key words: Revenue, Taxation, Resource mobilization, Sales tax, Capital formation, Consumption.
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Papers by Oluchukwu Anowor