C02 Emissions and Economic Growth: A Panel Data Analysis Evidence from Developing African Countries

This paper tests the Environmental Kuznet Hypothesis using data from 23 African countries for the period 1980–2019   in the Pedroni approach to panel cointegration analysis. The evidence suggests that both real GDP and energy consumption have a substantial effect on CO2 emission in most countries studied though energy consumption has less effect. However, in most countries, as income increases, the level of emission declines consistently with the EKC hypothesis. However, the econometric result, their interpretation, and their likely policy implications have to be taken with caution since there is a high degree of heterogeneity among the countries in terms of energy consumption,  real income as well as  CO2 emissions. This is more so when the analysis of the trend in the growth of the three variables used in estimation and the estimated results of fully modified OLS show large divergence among countries. However, the study recommends that, since a great number of economies in the study buttressed the EKC, therefore, the current policy on growth and energy consumption may be pursued without necessarily affecting the quality of their environment. However, other countries should implement strong regulatory and market-based policies on highly energy-intensive sectors to reduce their current level of emissions and attain sustainable, environment-friendly growth

Accounting for the Effects of Oil Prices on Exchange Rate in Nigeria: Empirical Evidence from Linear and Non-Linear ARDL Models

This study empirically examines the impact oil prices on the exchange rate in Nigeria. Time series annual dataset spanning 1980 to 2018 was estimated using the linear and nonlinear ARDL model developed by Pesaran and Shin, (1998) & Pesaran, et al. (2001) and Shin, et al. (2014); where oil prices, nominal exchange rate, interest rate, and oil revenue serves as the variables for analysis.  From the result of the linear-ARDL models  both the long run and short-run revealed that oil price has positive and significant impact on exchange rate. Similarly, the nonlinear model also revealed that in both the long run and the short-run, both the rising and falling oil prices have an increasing impact on exchange rate. Policy implication for the findings suggests that, the authority should hold the exchange rate constant during a stable period of oil prices in order to exert pressure on the foreign currency so that the oil prices will continue to have increasing impact on exchange rate as it was during the rising and falling periods

C02 Emissions and Economic Growth: A Panel Data Analysis Evidence from Developing African Countries

This paper tests the Environmental Kuznet Hypothesis using data from 23 African countries for the period 1980–2019   in the Pedroni approach to panel cointegration analysis. The evidence suggests that both real GDP and energy consumption have a substantial effect on CO2 emission in most countries studied though energy consumption has less effect. However, in most countries, as income increases, the level of emission declines consistently with the EKC hypothesis. However, the econometric result, their interpretation, and their likely policy implications have to be taken with caution since there is a high degree of heterogeneity among the countries in terms of energy consumption,  real income as well as  CO2 emissions. This is more so when the analysis of the trend in the growth of the three variables used in estimation and the estimated results of fully modified OLS show large divergence among countries. However, the study recommends that, since a great number of economies in the study buttressed the EKC, therefore, the current policy on growth and energy consumption may be pursued without necessarily affecting the quality of their environment. However, other countries should implement strong regulatory and market-based policies on highly energy-intensive sectors to reduce their current level of emissions and attain sustainable, environment-friendly growth

Accounting for the Effects of Oil Prices on Exchange Rate in Nigeria: Empirical Evidence from Linear and Non-Linear ARDL Models

This study empirically examines the impact oil prices on the exchange rate in Nigeria. Time series annual dataset spanning 1980 to 2018 was estimated using the linear and nonlinear ARDL model developed by Pesaran and Shin, (1998) & Pesaran, et al. (2001) and Shin, et al. (2014); where oil prices, nominal exchange rate, interest rate, and oil revenue serves as the variables for analysis.  From the result of the linear-ARDL models  both the long run and short-run revealed that oil price has positive and significant impact on exchange rate. Similarly, the nonlinear model also revealed that in both the long run and the short-run, both the rising and falling oil prices have an increasing impact on exchange rate. Policy implication for the findings suggests that, the authority should hold the exchange rate constant during a stable period of oil prices in order to exert pressure on the foreign currency so that the oil prices will continue to have increasing impact on exchange rate as it was during the rising and falling periods

Asymetric Pass-through Effects of Oil Price Shocks and Exchange Rates on Inflation in Nigeria: Evidence from a Nonlinear ARDL Model

By utilizing the non-linear ARDL (NARDL) model developed by Shin, et al (2014), we examined the asymmetric effect of oil price and exchange rates pass-through on inflation in Nigeria over a period of 1970 to 2020. Result of asymmetric test revealed the existence of asymmetries among the variables of the study, suggesting that there is a nonlinear interaction among the variables used in the study. This validates the choice of non-linear ARDL model for the study. Result of the long-run estimates show that rising (Positive) oil price shocks have a greater impact on inflation than falling (negative) oil price shock. Furthermore, ot is evident form the result that depreciation of exchange rate has much and significant effect on inflation than the appreciation of exchange rate in Nigeria. However, rising interest rate increases inflation by 0.84 per cent while falling interest rate increases inflation by 0.85 per cent. This implies that the effect of negative interest rate on inflation is higher than its positive effect on inflation, though, by a smaller amount of about 0.01 per cent. Again, the short-run dynamic model revealed a high speed of convergence of more than 90% from the short run disequilibrium. During the study period, the oil price fluctuations showed a significant and incomplete pass-through to both exchange rates and inflation in Nigeria. Based on the findings, the study recommends policies that set oil prices and exchange rate within reasonable limits in order to chack inflation in Nigeria

Accounting for the Effects of Oil Prices on Exchange Rate in Nigeria: Empirical Evidence from Linear and Non-Linear ARDL Models

This study empirically examines the impact oil prices on the exchange rate in Nigeria. Time series annual dataset spanning 1980 to 2018 was estimated using the linear and nonlinear ARDL model developed by Pesaran and Shin, (1998) & Pesaran, et al. (2001) and Shin, et al. (2014); where oil prices, nominal exchange rate, interest rate, and oil revenue serves as the variables for analysis.  From the result of the linear-ARDL models both the long run and short-run revealed that oil price has positive and significant impact on exchange rate. Similarly, the nonlinear model also revealed that, both in the long run and short-run, the depreciating effect of a fall in oil price is stronger than an appreciating effect of a arise in oil price of an equal magnitude. This, we argue, reflects the dependency of the economy on oil.  One policy implication of this finding is that stability of oil prices and oil revenue is critical for the stability of the domestic currency and, hence, prices. It is, therefore, recommended that authorities should focus on resolving the production difficulties in the Nigeria’s oil industry as a means of reducing the current revenue volatility

Asymmetric Pass-through Effects of Oil Price Shocks and Exchange Rates on Inflation in Nigeria: Evidence from a Nonlinear ARDL Model

This paper employs the linear autoregressive distributed lag (ARDL) model, the asymmetric nonlinear ARDL (NARDL) model developed by Shin, et al (2014) to examine  the asymmetric effect of oil price and exchange rates pass-through on inflation in Nigeria over a period of 1970 to 2020. The result of the asymmetric test revealed the existence of asymmetries among the variables of the study, suggesting that there is a nonlinear interaction among the variables used in the study. This validates the choice of a non-linear ARDL model for the study. Results of the long-run estimates show that rising (Positive) oil price shocks have a greater impact on inflation than falling (negative) oil price shocks. Furthermore, it is evident from the result that the depreciation of the exchange rate has a much and significant effect on inflation than the appreciation of the exchange rate in Nigeria. However, a rising interest rate increases inflation by 0.84 per cent while a falling interest rate increases inflation by 0.85 per cent. This implies that the effect of negative interest rate on inflation is higher than its positive effect on inflation, though, by a smaller amount of about 0.01 per cent. Again, the short-run dynamic model revealed a high speed of convergence of more than 90% from the short-run disequilibrium. During the study period, the oil price fluctuations showed a significant and incomplete pass-through to both exchange rates and inflation in Nigeria. Moreover, the results suggest that positive oil price changes have a larger impact than the negative ones, that the effect of an oil price shock on inflation and exchange rates is larger in the long-run than in the short-run, and that there is incomplete pass-through effect of oil price on domestic inflation and exchange rates. Based on the findings, the study recommends policies that set oil prices and exchange rates within reasonable limits to check inflation in Nigeria and should diversify its economy as well as withdraw the current subsidy regime completely

Autonomous Orientation Behaviors Influence Towards Ex-Juvenile Entrepreneurs Delinquent Behavioral Change in Katsina State, Nigeria: A Conceptual Paper

Recent Entrepreneurship orientation autonomous dimension discussion revealed the important and the positive influence of autonomous orientation as one of the Entrepreneurial orientations (EO) towards organizational performance and profitability. However, discussion of autonomous orientation in the context of individual such as entrepreneurs behavioral change impact still silent, especially in the context of ex-juvenile entrepreneur that can give an insight to the Entrepreneurship body of knowledge. Therefore, the objective of this conceptual paper is to understand the influence of autonomous orientation behaviors as one of the individual entrepreneurial orientation (IEO) towards delinquent behavioral change of ex-juvenile entrepreneurs. The conceptual paper proposed the framework that ex- juvenile entrepreneurs could be autonomous and more importantly autonomous orientation might have a positive influence towards ex-juvenile entrepreneurs’ delinquent behavioral change. Subsequently relating development of this concept, the conceptual review demonstrates the importance of the autonomous orientation as an effective deliberate orientation for ex-juvenile entrepreneurs once they reconsider their delinquent behavior with entrepreneurial autonomous activities. Assuming autonomous orientation looks to replicate a desired reconciliation amongst delinquent behaviors and entrepreneurial autonomous orientation as an alternative to delinquency. Lastly, the conceptual paper concludes with suggesting some inferences for future research to dig out the study theoretically, conceptually and empirically of the individual EO autonomous orientation behaviors among delinquent populace (ex- juvenile entrepreneurs) context. This conceptual paper provides a fresh knowledge about the IEO autonomous orientation potentiality in the entrepreneurs’ self-development and an insight to the entrepreneurship framework

Asymetric Pass-through Effects of Oil Price Shocks and Exchange Rates on Inflation in Nigeria: Evidence from a Nonlinear ARDL Model

By utilizing the non-linear ARDL (NARDL) model developed by Shin, et al (2014), we examined the asymmetric effect of oil price and exchange rates pass-through on inflation in Nigeria over a period of 1970 to 2020. Result of asymmetric test revealed the existence of asymmetries among the variables of the study, suggesting that there is a nonlinear interaction among the variables used in the study. This validates the choice of non-linear ARDL model for the study. Result of the long-run estimates show that rising (Positive) oil price shocks have a greater impact on inflation than falling (negative) oil price shock. Furthermore, ot is evident form the result that depreciation of exchange rate has much and significant effect on inflation than the appreciation of exchange rate in Nigeria. However, rising interest rate increases inflation by 0.84 per cent while falling interest rate increases inflation by 0.85 per cent. This implies that the effect of negative interest rate on inflation is higher than its positive effect on inflation, though, by a smaller amount of about 0.01 per cent. Again, the short-run dynamic model revealed a high speed of convergence of more than 90% from the short run disequilibrium. During the study period, the oil price fluctuations showed a significant and incomplete pass-through to both exchange rates and inflation in Nigeria. Based on the findings, the study recommends policies that set oil prices and exchange rate within reasonable limits in order to chack inflation in Nigeria

Asymmetric Pass-through Effects of Oil Price Shocks and Exchange Rates on Inflation in Nigeria: Evidence from a Nonlinear ARDL Model

This paper employs the linear autoregressive distributed lag (ARDL) model, the asymmetric nonlinear ARDL (NARDL) model developed by Shin, et al (2014) to examine  the asymmetric effect of oil price and exchange rates pass-through on inflation in Nigeria over a period of 1970 to 2020. The result of the asymmetric test revealed the existence of asymmetries among the variables of the study, suggesting that there is a nonlinear interaction among the variables used in the study. This validates the choice of a non-linear ARDL model for the study. Results of the long-run estimates show that rising (Positive) oil price shocks have a greater impact on inflation than falling (negative) oil price shocks. Furthermore, it is evident from the result that the depreciation of the exchange rate has a much and significant effect on inflation than the appreciation of the exchange rate in Nigeria. However, a rising interest rate increases inflation by 0.84 per cent while a falling interest rate increases inflation by 0.85 per cent. This implies that the effect of negative interest rate on inflation is higher than its positive effect on inflation, though, by a smaller amount of about 0.01 per cent. Again, the short-run dynamic model revealed a high speed of convergence of more than 90% from the short-run disequilibrium. During the study period, the oil price fluctuations showed a significant and incomplete pass-through to both exchange rates and inflation in Nigeria. Moreover, the results suggest that positive oil price changes have a larger impact than the negative ones, that the effect of an oil price shock on inflation and exchange rates is larger in the long-run than in the short-run, and that there is incomplete pass-through effect of oil price on domestic inflation and exchange rates. Based on the findings, the study recommends policies that set oil prices and exchange rates within reasonable limits to check inflation in Nigeria and should diversify its economy as well as withdraw the current subsidy regime completely