PurposeThis study investigated the asymmetric effects of changes in policy uncertainty on real se... more PurposeThis study investigated the asymmetric effects of changes in policy uncertainty on real sector variables in Brazil, China, India and South Africa.Design/methodology/approachThe study used the nonlinear autoregressive distributed lag (NARDL) modeling framework.FindingsThe results showed that both in the long run and short run, rising uncertainty not only increases consumer prices significantly in these economies, but also impedes aggregate and sectoral output growths, and deters investment, employment and private consumption. Contrary to economic expectation, the results also showed that in the long run, declining uncertainty impedes aggregate and sectoral output growths in these economies, and significantly hinders employment in South Africa and Brazil. This suggests that in the long run, economic agents in these economies somewhat behave as if uncertainty is rising. The authors also found significant asymmetric effects in the response of real sector variables to uncertainty ...
This work was motivated mainly by the need to empirically examine the magnitude of economic loss ... more This work was motivated mainly by the need to empirically examine the magnitude of economic loss attributed to informality in Nigeria. Specifically, the objective of the study is to examine the size, development, and causes of the informal sector of the Nigerian economy. In recent times, multiple indicators multiple causes (MIMIC) models are applied to time series estimating the size and development of the informal economy for a particular country. However, in order to obtain more accurate estimates about the size, development and causes of the informal economy in Nigeria, this work applied an error correction MIMIC (EMIMIC) model which estimates the cointegration equilibrium relationship and the error correction short run dynamics. The results show that since 1970, the size of the informal economy has hovered between 53.6 – 77.2 % of GDP, and that the average size of the informal economy was about 64.6 % of GDP. Specifically, the results indicate that informal sector was about thre...
Over time, organizations have been embarking on training and capacity building for their employee... more Over time, organizations have been embarking on training and capacity building for their employees so as to enhance productivity and overall performance of the organizations. This is due to the recognition of the important role of training and manpower development in attainment of organizational goals. Consequently, this study investigated the effects of training and manpower development on employees’ productivity and organizational performance in Nigeria, using First Bank of Nigeria Plc as a case study. The study applied structured questionnaires to a sample size of 75 drawn by simple random sampling. The data generated was analyzed using descriptive statistics.The findings of the study show that majority (70%) of the respondents agreed that training and manpower development has enhanced their efficiency and job productivity. Secondly, majority (80%) of the respondents overwhelming agreed that training and manpower development enhanced organizational performance. The study recommen...
This paper examined the barriers/challenges facing the evaluation profession in Nigeria and the r... more This paper examined the barriers/challenges facing the evaluation profession in Nigeria and the role of the Nigerian Association of Evaluators (NAE) towards improving the profession. The paper also draws lessons from other African countries on how to improve evaluation practice in Nigeria. The findings indicate that paucity of evaluation skill, partial implementation of national monitoring and evaluation systems, lack of monitoring and evaluation ownership, nonutilization of evaluation results and funding are the main barriers/challenges confronting evaluation conduct in Nigeria. The paper therefore recommends that the NAE should improve the technical capacity of evaluation practitioners in Nigeria; organize workshop for cross learning and experience sharing among practitioners; supporting monitoring and evaluation ownership and canvass for utilization of evaluation results. The paper finds from cross country analysis that institutionalizing the evaluation of public polices is a ver...
Journal of economics and sustainable development, 2013
The informal sector in Nigeria is one of the major components of the overall economy, which is ca... more The informal sector in Nigeria is one of the major components of the overall economy, which is capable of starving the banking system of the deposits needed for investment purposes. This study empirically examined the impact of informality on the performance of the banking industry in Nigeria. The results indicate that if bank performance is measured by profit after tax (PAT) or return on assets (ROA), then informality impacts negatively on the performance of deposit money banks in Nigeria. Other variables that impact negatively on bank performance are inflation rate and asset quality (measured as the ratio of total non-performing loans to total loans). Based on these findings, the study recommends that deposit money banks in Nigeria should pursue policies and products that will assist them to capture the huge economic activities taking place in the informal sector, while the government (that is the Central Bank of Nigeria, CBN) should also reconsider its policies that are capable o...
This work was motivated mainly by the need to empirically examine the magnitude of economic loss ... more This work was motivated mainly by the need to empirically examine the magnitude of economic loss attributed to informality in Nigeria. Specifically, the objective of the study is to examine the size, development, and causes of the informal sector of the Nigerian economy. In recent times, multiple indicators multiple causes (MIMIC) models are applied to time series estimating the size and development of the informal economy for a particular country. However, in order to obtain more accurate estimates about the size, development and causes of the informal economy in Nigeria, this work applied an error correction MIMIC (EMIMIC) model which estimates the cointegration equilibrium relationship and the error correction short run dynamics. The results show that since 1970, the size of the informal economy has hovered between 53.6 – 77.2% of GDP, and that the average size of the informal economy was about 64.6% of GDP. Specifically, the results indicate that informal sector was about three-...
Article History Received: 25.07.2018 Accepted: 06.08.2018 Published: 30.08.2018 Abstract: The nee... more Article History Received: 25.07.2018 Accepted: 06.08.2018 Published: 30.08.2018 Abstract: The need to consolidate and complete the development progress driven by the Millenium Development Goals (MDGs) and ensure that no one is left behind led world leaders to gather at the UN Headquarters in New York in September 2015 to adopt a new program on sustainable development. The SDGs provide a more ambitious international framework for driving progress between 2016 and 2030. A review of the MDGs implementation in Nigeria reveals that the country registered mixed results across the goals, geographic areas and gender groups. Even though, there are some progresses on some indicators, many of the goals and targets were not met. This is in view of the fact that the Nigerian Government did so many things in order to achieve the set goals. The debates surrounding the SDGs have mainly concerned with the setting of goals and indicators while less attention has been paid to discussing the roles and ...
Journal of economics and sustainable development, 2013
This empirical study examined the efficacy of tackling the twin economic challenges of poverty an... more This empirical study examined the efficacy of tackling the twin economic challenges of poverty and unemployment in Nigeria through the small scale enterprise commonly known as burnt bricklaying. The study also examined the socio-economic characteristics of the bricklayers as well as the major challenges militating against their growth and performance. The results indicate that burnt bricklaying has significant positive impact on poverty alleviation, job creation, and income generation in Nigeria. The study therefore recommends that the challenges of poor infrastructure, low prices of bricks, low demand for bricks, and low operating capital faced by these small scale enterprises should be addressed by the various tiers of government and the financial system as a viable means of job creation, poverty alleviation and income generation in Nigeria. Keywords: Small Scale Enterprises; Poverty Alleviation; Job Creation; Unemployment; Bricklaying
Journal of Economics and Sustainable Development, Jul 8, 2013
Most studies conducted on the determinants of stock price movements in Nigeria have been done on ... more Most studies conducted on the determinants of stock price movements in Nigeria have been done on theoretical basis with no quantitative empirical evidence to support their postulations. Consequently, this study examined the macroeconomic determinants of stock price movements in Nigeria using detailed econometric framework in order to provide the foundation for evidence-based policies. Both the long-run and short run dynamic relationships between the stock price movement and the macroeconomic variables were analyzed with time series data that spanned from 1985 to 2010 using the Engle-Granger two-step cointegration test. We established that there is no cointegration between the variables, indicating the absence of long run relationship. Results of the regression indicate that the monetary policy variables (real exchange rate, real interest rate and money supply) as well as political instability are not the determinants of stock price movements in Nigeria; however, inflation was found to be a major determinant of stock price movements. The study recommends that the monetary authorities (that is the Central Bank of Nigeria, CBN) and policy makers should pay attention to changes in money supply and inflation in view of their sensitivity to stock price movements in Nigeria.
PurposeThis study investigated the asymmetric effects of changes in policy uncertainty on real se... more PurposeThis study investigated the asymmetric effects of changes in policy uncertainty on real sector variables in Brazil, China, India and South Africa.Design/methodology/approachThe study used the nonlinear autoregressive distributed lag (NARDL) modeling framework.FindingsThe results showed that both in the long run and short run, rising uncertainty not only increases consumer prices significantly in these economies, but also impedes aggregate and sectoral output growths, and deters investment, employment and private consumption. Contrary to economic expectation, the results also showed that in the long run, declining uncertainty impedes aggregate and sectoral output growths in these economies, and significantly hinders employment in South Africa and Brazil. This suggests that in the long run, economic agents in these economies somewhat behave as if uncertainty is rising. The authors also found significant asymmetric effects in the response of real sector variables to uncertainty ...
This work was motivated mainly by the need to empirically examine the magnitude of economic loss ... more This work was motivated mainly by the need to empirically examine the magnitude of economic loss attributed to informality in Nigeria. Specifically, the objective of the study is to examine the size, development, and causes of the informal sector of the Nigerian economy. In recent times, multiple indicators multiple causes (MIMIC) models are applied to time series estimating the size and development of the informal economy for a particular country. However, in order to obtain more accurate estimates about the size, development and causes of the informal economy in Nigeria, this work applied an error correction MIMIC (EMIMIC) model which estimates the cointegration equilibrium relationship and the error correction short run dynamics. The results show that since 1970, the size of the informal economy has hovered between 53.6 – 77.2 % of GDP, and that the average size of the informal economy was about 64.6 % of GDP. Specifically, the results indicate that informal sector was about thre...
Over time, organizations have been embarking on training and capacity building for their employee... more Over time, organizations have been embarking on training and capacity building for their employees so as to enhance productivity and overall performance of the organizations. This is due to the recognition of the important role of training and manpower development in attainment of organizational goals. Consequently, this study investigated the effects of training and manpower development on employees’ productivity and organizational performance in Nigeria, using First Bank of Nigeria Plc as a case study. The study applied structured questionnaires to a sample size of 75 drawn by simple random sampling. The data generated was analyzed using descriptive statistics.The findings of the study show that majority (70%) of the respondents agreed that training and manpower development has enhanced their efficiency and job productivity. Secondly, majority (80%) of the respondents overwhelming agreed that training and manpower development enhanced organizational performance. The study recommen...
This paper examined the barriers/challenges facing the evaluation profession in Nigeria and the r... more This paper examined the barriers/challenges facing the evaluation profession in Nigeria and the role of the Nigerian Association of Evaluators (NAE) towards improving the profession. The paper also draws lessons from other African countries on how to improve evaluation practice in Nigeria. The findings indicate that paucity of evaluation skill, partial implementation of national monitoring and evaluation systems, lack of monitoring and evaluation ownership, nonutilization of evaluation results and funding are the main barriers/challenges confronting evaluation conduct in Nigeria. The paper therefore recommends that the NAE should improve the technical capacity of evaluation practitioners in Nigeria; organize workshop for cross learning and experience sharing among practitioners; supporting monitoring and evaluation ownership and canvass for utilization of evaluation results. The paper finds from cross country analysis that institutionalizing the evaluation of public polices is a ver...
Journal of economics and sustainable development, 2013
The informal sector in Nigeria is one of the major components of the overall economy, which is ca... more The informal sector in Nigeria is one of the major components of the overall economy, which is capable of starving the banking system of the deposits needed for investment purposes. This study empirically examined the impact of informality on the performance of the banking industry in Nigeria. The results indicate that if bank performance is measured by profit after tax (PAT) or return on assets (ROA), then informality impacts negatively on the performance of deposit money banks in Nigeria. Other variables that impact negatively on bank performance are inflation rate and asset quality (measured as the ratio of total non-performing loans to total loans). Based on these findings, the study recommends that deposit money banks in Nigeria should pursue policies and products that will assist them to capture the huge economic activities taking place in the informal sector, while the government (that is the Central Bank of Nigeria, CBN) should also reconsider its policies that are capable o...
This work was motivated mainly by the need to empirically examine the magnitude of economic loss ... more This work was motivated mainly by the need to empirically examine the magnitude of economic loss attributed to informality in Nigeria. Specifically, the objective of the study is to examine the size, development, and causes of the informal sector of the Nigerian economy. In recent times, multiple indicators multiple causes (MIMIC) models are applied to time series estimating the size and development of the informal economy for a particular country. However, in order to obtain more accurate estimates about the size, development and causes of the informal economy in Nigeria, this work applied an error correction MIMIC (EMIMIC) model which estimates the cointegration equilibrium relationship and the error correction short run dynamics. The results show that since 1970, the size of the informal economy has hovered between 53.6 – 77.2% of GDP, and that the average size of the informal economy was about 64.6% of GDP. Specifically, the results indicate that informal sector was about three-...
Article History Received: 25.07.2018 Accepted: 06.08.2018 Published: 30.08.2018 Abstract: The nee... more Article History Received: 25.07.2018 Accepted: 06.08.2018 Published: 30.08.2018 Abstract: The need to consolidate and complete the development progress driven by the Millenium Development Goals (MDGs) and ensure that no one is left behind led world leaders to gather at the UN Headquarters in New York in September 2015 to adopt a new program on sustainable development. The SDGs provide a more ambitious international framework for driving progress between 2016 and 2030. A review of the MDGs implementation in Nigeria reveals that the country registered mixed results across the goals, geographic areas and gender groups. Even though, there are some progresses on some indicators, many of the goals and targets were not met. This is in view of the fact that the Nigerian Government did so many things in order to achieve the set goals. The debates surrounding the SDGs have mainly concerned with the setting of goals and indicators while less attention has been paid to discussing the roles and ...
Journal of economics and sustainable development, 2013
This empirical study examined the efficacy of tackling the twin economic challenges of poverty an... more This empirical study examined the efficacy of tackling the twin economic challenges of poverty and unemployment in Nigeria through the small scale enterprise commonly known as burnt bricklaying. The study also examined the socio-economic characteristics of the bricklayers as well as the major challenges militating against their growth and performance. The results indicate that burnt bricklaying has significant positive impact on poverty alleviation, job creation, and income generation in Nigeria. The study therefore recommends that the challenges of poor infrastructure, low prices of bricks, low demand for bricks, and low operating capital faced by these small scale enterprises should be addressed by the various tiers of government and the financial system as a viable means of job creation, poverty alleviation and income generation in Nigeria. Keywords: Small Scale Enterprises; Poverty Alleviation; Job Creation; Unemployment; Bricklaying
Journal of Economics and Sustainable Development, Jul 8, 2013
Most studies conducted on the determinants of stock price movements in Nigeria have been done on ... more Most studies conducted on the determinants of stock price movements in Nigeria have been done on theoretical basis with no quantitative empirical evidence to support their postulations. Consequently, this study examined the macroeconomic determinants of stock price movements in Nigeria using detailed econometric framework in order to provide the foundation for evidence-based policies. Both the long-run and short run dynamic relationships between the stock price movement and the macroeconomic variables were analyzed with time series data that spanned from 1985 to 2010 using the Engle-Granger two-step cointegration test. We established that there is no cointegration between the variables, indicating the absence of long run relationship. Results of the regression indicate that the monetary policy variables (real exchange rate, real interest rate and money supply) as well as political instability are not the determinants of stock price movements in Nigeria; however, inflation was found to be a major determinant of stock price movements. The study recommends that the monetary authorities (that is the Central Bank of Nigeria, CBN) and policy makers should pay attention to changes in money supply and inflation in view of their sensitivity to stock price movements in Nigeria.
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