Enquiring into the Sustainability of Nigerian Economy: A Time Series Analysis

The study obtains time-series data of three independent variables (Public Expenditure, Debt, and Reserve) and a dependent variable (Gross National Product) between 1971 and 2011 in Nigeria with the aim of verifying the sustainability of the economy. Following Keynesian Model, it formulates hypotheses, estimates parameters, and uses Augmented Dickey-Fullertest to test their significance by using E-View 7. It discovers that Nigerian economy is solvent and sustainable with positive relationship between Public Income, Expenditure and Reserve but negative relationship between the Public Income and Public Debt. It recommends increase and judicious use of external debts and appreciates internalization of public reserves by disbursement of some of the proceeds to the Traditional Financial Institution (TFI) to attain the desired economic objectives of Nigeria. Despite its  applicability, desirability and productivity; the surmountable limitations of its recommendation are fear of corruption and marginalizationamong others.Keywords: Assets, Nigeria, Solvency, Sustainability, Traditional Financial System

Government Capital Expenditure and Private Sector Investment in Nigeria: Co-integration Regression and Toda-Yamamoto Causality Analysis

This paper analyses the relationship between government capital expenditure and private investment in Nigeria using time series data spanning from 1981 to 2016. Government capital expenditure was disaggregated into different components and ADF unit root test was employed to establish the stationarity properties of the variables in the model. The result of Johanson co-integration test revealed that the variables have long run relationship. Co-integration regression results suggested that capital expenditure on physical assets and defense displaced private sector investment while government capital expenditure on human capital and public debt servicing promote private sector investment in Nigeria. Furthermore, the results of T-Y causality revealed the bidirectional causality private sector investment and government capital expenditure in Nigeria. Based on these findings, the paper recommends that government capital expenditure should be channel to human capital in order to promote private sector investment in Nigeria. In addition, the Nigerian government should pay more attention to capital expenditure on physical assets since it has a significant impact on private sector investment. Lastly, Nigeria government should address the issue of budget delay, corruption, and mismanagement in Nigerian institutions

Determinants of Trade Flow in the Economic Community of Central African States (ECCAS): Does Governance Matter?

Subject and purpose of work: This study analyzes the determinants of intra-ECCAS trade, with special attention paid to the role of institutional quality from 1996 to 2021. Materials and methods: The study conducts descriptive analysis and utilizes a Negative Binomial Pseudo Maximum Likelihood to analyze the determinants of intra-ECCAS trade. Results: The results suggest that gross domestic product (GDP), population, time taken for export shipment in the exporting countries and the bilateral real exchange rate of the importing partner country enhance intra-ECCAS trade flow. On the other hand, distance, two trading partners being landlocked, time for importing countries and bilateral real exchange rate of the exporting partner discourage this. Furthermore, the findings reveal that institutions are vital to intra-ECCAS trade. Conclusions: T he key d rivers of intra-ECCAS t rade a re GDP, population, t ime t aken for export shipment in the exporting countries, bilateral real exchange rate of the importing partner country, and institutions’ quality measures

Determinants of Trade Flow in the Economic Community of Central African States (ECCAS): Does Governance Matter?

Subject and purpose of work: This study analyzes the determinants of intra-ECCAS trade, with special attention paid to the role of institutional quality from 1996 to 2021. Materials and methods: The study conducts descriptive analysis and utilizes a Negative Binomial Pseudo Maximum Likelihood to analyze the determinants of intra-ECCAS trade. Results: The results suggest that gross domestic product (GDP), population, time taken for export shipment in the exporting countries and the bilateral real exchange rate of the importing partner country enhance intra-ECCAS trade flow. On the other hand, distance, two trading partners being landlocked, time for importing countries and bilateral real exchange rate of the exporting partner discourage this. Furthermore, the findings reveal that institutions are vital to intra-ECCAS trade. Conclusions: T he key d rivers of intra-ECCAS t rade a re GDP, population, t ime t aken for export shipment in the exporting countries, bilateral real exchange rate of the importing partner country, and institutions’ quality measures

ASSESSMENT OF THE IMPACT OF GLOBALIZATION ON ECONOMIC GROWTH IN NIGERIA (1988-2022)

The idea that globalization is one of the most important drivers of economic growth has gained wide acceptance in recent times. The study empirically assesses the effects globalization on economic growth of Nigeria. Specifically, the study identifies how globalization affects the progress of the Nigeria economy.The study empirically investigates if there is a short-runand long run relationship between economic globalization and economic growth in Nigeria. The study examined the extent at which social and political globalization affect Nigeria economic growth.The study employed Autoregressive Distributed Lags (ARDL) models to examine the relationship between general globalization, economic globalization, social globalization, political globalization and economic growth in Nigeria. The study made use of annual data series dating from1988 to 2022 sourced from World Development Indicators (WDI), the database of World Bank and of Swiss Economic Institute data base. The study reveals that general globalization, economic globalization, social globalization and political globalization have a significant positive effect on economic growth in Nigeria.The  study therefore recommends that, for Nigeria to catch high levels of growth levels, Nigeria should endeavor to improve on the institutional quality and good governance in Nigeria.When this is in place, further economic and social integration from foreign countries will be enhanced and economic development will be achieved. Also, Nigeria government should widen its market through either improved export of commodities and services as well as import of machines and production inputs.Further integration of the Nigerian economy with other economies through a productive capacity should be a focus of policy by the Nigerian government and policy markers