External Reserve on Economic Growth in Nigeria

This study examined relationship between external reserves and economic growth in Nigeria from 1981 to 2014. The study used the Ordinary least squares econometric method of analysis. The result of the study showed that external reserves had positive and significant influence on the economic growth in Nigeria. Based on the major finding of this study, it was concluded that external reserve in Nigeria has over the period of study contributed positively and significantly to the growth of the economy. Thus, the study recommended the need for prudent management of Nigerian’s external reserves to ensure more growth and also that government should put in more policies that will enhance increased accumulation of external reserves. Research paper Keywords: External reserves, economic growth, OLS, Nigeria Reference to this paper should be made as follows: Nwosa, P. I. (2017). External Reserves on Economic Growth in Nigeria, Journal of Entrepreneurship, Business and Economics, 5(2), 110–126

Income Inequality and Economic Growth in Nigeria: Implication for Economic Development

This study examined the relationship between income inequality and economic growth in Nigeria and its implication for economic development. The study covered the period 1981 to 2017 and employed the autoregressive distributed lag estimation technique. The results of the study showed that economic growth had positive but insignificant impact on income inequality in Nigeria. Thus, the study recommends the need for the government to ensure equitable distribution of economic gains among the poor citizens. The budgetary preparation and allocation should also be pro-poor based and tailored towards improving the welfare of the larger population and not at further enriching the few rich ones. The implementation of the above and other welfare enhancing policies would contribute to increasing the level of economic development in Nigeria.&nbsp

The Impact of Banks Loan to SMEs on Manufacturing Output in Nigeria

This study examines the impact of banks loan to SMEs on manufacturing output in Nigeria for the period spanning 1992 to 2010. The study employed an error correction modeling technique and observed that banks loan to the SME sector had insignificant impact on manufacturing output both in the long and short run. Based on the findings, the study recommended the need for greater deliberation and conscious effort by the government in ensuring that loans are given to ultimate users. There is also the need for moderation of collaterals and interest rate attached to banks loan to SMEs, to make it more attractive to stakeholders in the SMEs sector

Trade Policy and Export Diversification in Nigeria: An ARDL Approach

Abstract: This study examined the impact of trade policy on export diversification in Nigeria over the period 1962 to 2015. In the study trade policy was measured by trade liberalization policy and trade openness. The study employed Autoregressive Distributed Lag (ARDL) technique and the result from the estimate showed that both measures of trade policy had insignificant impact on export diversification while foreign direct investment had negative and significant effect on export diversification in Nigeria. Thus, the study concluded that trade policy has not enhance export diversification in Nigeria over the period 1962 to 2015. The study recommended among other the need for the government to de-emphasize the dependency on oil and on the discoveries of new oil wells (such as those discovered in the Southwest and Northern regions in Nigeria. The continuous emphasis on oil would incessantly decline the drive of the government in diversifying the export base of the Nigerian economy

Impact of Macroeconomic Policies on Poverty and Unemployment Rates in Nigeria. Implications for Attaining Inclusive Growth

Objective: This study aims at examining the impact of macroeconomic policies on unemployment and poverty rates in Nigeria from 1980 to 2013 with implication to achieving inclusive growth. The inability of macroeconomic policies in addressing the rising issues unemployment and poverty rates in Nigeria despite the impressive economic growth experience over the last decades has increasingly called for the need for the pursuance of inclusive growth to address the social issues of unemployment and poverty rate. Prior Work: Previous studies as discussed in the literature review have not considered the extent to which macroeconomic policies affects unemployment and poverty rate in Nigeria, and the implication of this relationship to the attainment of inclusive growth in Nigeria. Approach: The study adopts the Ordinary Least Square (OLS) technique. Results: The study observed that among macroeconomic policy variables only exchange rate significantly influenced unemployment rate while only fiscal policy significantly influenced and poverty rate. Implications: This implies that present macroeconomic policies in Nigeria do not guarantee the attainment of inclusive growth in Nigeria. Values: The contribution of the paper is that to achieve inclusive growth that guarantees high employment and reduced poverty rate, there is the need for a re-examination of macroeconomic policies

Fiscal Policy and Exchange Rate Movement in Nigeria

Issues on exchange rate movement have continued to generate concern among economists given its implication on the macroeconomic variables – inflation, imports, domestic interest rate and investment among others. Although studies have examined the determinants of exchange rate movement, there is paucity of knowledge on the relationship between fiscal policy and exchange rate movement. Also, both theoretical and empirical literatures on fiscal policy and exchange rate movement were inconclusive. Therefore, this study examines the relationship between fiscal policy and exchange rate movement in Nigeria for the period 1980 to 2015. The study employed the Ordinary Least Square (OLS) and the regression estimate showed that fiscal policy variables were statistically significant in influencing exchange rate in Nigeria. This suggests that fiscal policy variables are significant determinants of exchange rate movement in Nigeria. Based on the findings, it was recommended that there is the need for prudent management of revenue, expenditure and debt in reducing exchange rate depreciation and ensuring stable exchange rate

Whose Family Matters?: White Christianity, Black Feminism, and the Family Values Movement

Between the 1960s and the 1980s, national attention on the perceived destruction of the Black family defined the white, middle-class American family as normative. The family values movement between the 1970s and 1990s continued this understanding. However, an analysis of the family values movement with attention to the intersection of race, class, and gender is frequently overlooked. In this thesis, I seek to understand how feminist and womanist theologians engaged with the bible and interpreted gender roles and family, as well as the significance of race to the family values movement. This thesis integrates race into the discussion on gender roles and family values through the lens of biblical interpretation by predominantly white feminist theology and African-American womanist theology. Womanists’ intersectional understanding of oppression through race, class, and gender serves as the foundation for this inquiry. I analyze how feminist and womanist theologians invoked family and women’s role within it based on their distinct methods of biblical interpretation. To pursue this underrepresented research on the significance of race within biblical gender roles and family values, I explore the religious basis of white conservative evangelicals’ profamily agenda. I assess the salience of race in constructing the “traditional American family” based on the social and political activism of white conservative evangelicals in the Religious Right. I also show how their criticism of mainstream feminism and feminist theology results in their advocacy for family values. My findings address the importance of intersectionality in determining whose family matters.Liberal Art

Foreign Direct Investment in Nigeria: Its Role and Importance in Industrial Sector Growth

This study examined the role of foreign direct investment in industrial sector growth in Nigeria for the period spanning 1970 to 2016. The study utilized the error correction modelling technique and the result of the study showed that foreign direct investment had negative and significant impact on industrialization in Nigeria. The study concluded that the role of foreign direct investment in the growth of the Nigerian industrial sector had been harmful rather than enhancing it. Thus, the study recommended the need for the Federal government to shift her focus and policy directives from the oil sector to the industrial sector as this will attract the attention of foreign investors into the industrial sector. Also, there is the need for improve strategies to enhance the competitiveness of Nigerian industrial sector in attracting foreign direct investment

Foreign Direct Investment in Nigeria: Its Role and Importance in Industrial Sector Growth

This study examined the role of foreign direct investment in industrial sector growth in Nigeria for the period spanning 1970 to 2016. The study utilized the error correction modelling technique and the result of the study showed that foreign direct investment had negative and significant impact on industrialization in Nigeria. The study concluded that the role of foreign direct investment in the growth of the Nigerian industrial sector had been harmful rather than enhancing it. Thus, the study recommended the need for the Federal government to shift her focus and policy directives from the oil sector to the industrial sector as this will attract the attention of foreign investors into the industrial sector. Also, there is the need for improve strategies to enhance the competitiveness of Nigerian industrial sector in attracting foreign direct investment

The Impact of Financial Development on Capital Structure of Firms in Nigeria

This paper analyzed the relative contribution of financial development on capital structure of ten selected manufacturing firms’ on the Nigerian Stock Exchange for the period 2002 to 2015. The financial sector of any economy plays an indispensable role in the growth firms; it is therefore important to examine the contribution of financial development towards capital structure of firms in Nigeria; given that the capital structure of a firm contributes significantly to its performance. This paper builds on previous studies by examining the significance of financial development in determining the capital structure of listed firms on the Nigerian Stock Exchange, which has not been considered by previous indigenous studies. The study employed panel ordinary least square technique. The regression estimate showed that the ratio of stock market capitalization to gross domestic product (a measure of stock market development) had positive and insignificant effect on firms’ capital structure while the ratio of credit to the private sector to gross domestic product (a measure of banking sector development) had positive and significant effect on firms’ capital structure. This implies that financial development (proxy by banking sector development) contributes to the growth of capital structure of firms in Nigeria. The contribution of this paper is that in addition to other factors identified in the literature, financial development strongly influences firms’ capital structure in Nigeria