Rowland Tochukwu Obiakor

• Professor at Babcock University

The rising stock of public and lack of steady improvement in macroeconomic indicators continued to generate disagreement among academics, policy makers and public analysts. This study examined the effects of public debt and institutional quality on the growth of Nigerian economy. Secondary data spanning 1981 to 2021 sourced from World Development I...

The rate of savings in Nigeria has been low over the years. Despite efforts to stimulate savings through the adoption and implementation of financial liberalization policies, the rate of savings in the country has remained low in absolute and comparative terms. Previous studies on the determinants of savings in the country focused mainly on the ass...

Most developing countries are making frantic efforts to curtail illicit outflows of investible funds. Unfortunately, these efforts seem not to have produced the expected results. Meanwhile, existing empirical investigations have failed to explain emphatically, the channels through which this economic sabotage is being perpetuated. In this context,...

The theoretical premises of open trade predict that open economies would benefit more from trade than those in autarky. Empirical findings for Nigeria are mixed both for macro-based studies and those devoted to sectoral investigations. In this paper, we re-evaluate the evidence on trade openness’s impact on the performance of small- and medium-scal...

The United Nations recognizes a healthier environment as a top priority in its sustainable development goals (SDGs). Thus, it is not surprising that a voluminous array of empirical studies has offered empirical narratives on critical stimuli of environmental quality. Surprisingly, the implications of agricultural, manufacturing and mining sectors'...

This paper investigates the effect of economic size and uncertainty on income inequality in Nigeria from 1980 to 2020. Using the ARDL methodology, and controlling for structural breaks, we investigate how economic size and uncertainty influence income inequality in Nigeria while controlling for the effects of government expenditure, oil rent, birth...

This study investigates the symmetric and asymmetric effects of FDI-growth nexus amidst financial crises, economic crises and COVID-19 pandemic s in Nigeria over the period 1983-2020. Having confirmed the long-run stable state among the variables, the symmetric estimates suggest that the FDI inflow/outflow is significantly linked with economic grow...

Crude oil is the source of essential petroleum products for productive economic activities. Primarily, Nigeria exports crude oil and imports petroleum products, and this has a link with the unfavourable exchange rate of the Nigerian currency vis-à-vis the US dollar over the years. Based on the proposition that there is no significant relationship b...

In this study, volatility in trade and remittances flows to Africa during the COVID-19 pandemic for the period 2004M1 to 2020M11 was modeled. The study evaluated the volatility using the symmetric GARCH (1, 1) univariate volatility model. Results revealed that a shock to exports during the COVID-19 pandemic was temporary and its recovery was quick....

In this study, we estimated the short-run and long-run effect of terms of trade, trade openness, and government spending in Nigeria from 1981 to 2019. Data for this study was sourced from the World Bank's World Development Indicators (WDI), Central Bank of Nigeria's (CBN) Statistical Bulletin, and FRED Economic Data. Using the ARDL estimation metho...

Labour productivity is a vital economic indicator that is closely linked to competitiveness, economic growth and living standard within an economy. It provides the general information about efficiency and quality of human capital in the production process. This study examined the effects of gender employment and wage disparities on sectoral labour...

Over the years, the Federal Government of Nigeria has implemented various macroeconomic policies aimed at stabilizing key macroeconomic variables and engender favorable balance of payments. In this paper, we examined the effects of some key macroeconomic variables on current and capital account components of balance of payments in Nigeria. With tim...

We estimated the effect of inward and outward remittances on welfare using data on 17 SSA countries from 2005 to 2019, with welfare proxied as consumption. Previous studies on remittances had tended to be focused more on the effect of inward remittances on macroeconomic variables, while few that considered inward and outward remittances were single...

Oil export constitutes the major source of external revenue, and exchange rate determines the naira amount of the revenue and, thus, is perceived to affect aggregate consumption expenditure in the Nigeria. This paper employed Nonlinear ARDL approach to examine the short-run and long-run asymmetric effects of oil export earnings and exchange rate on...

Investment expenditure is a major component of aggregate macroeconomic variables in any economy, irrespective of the development status. This article employed relevant econometric methodology on panel data environment to analyze the effects of foreign direct investment (FDI) inflows on economic growth of 30 leading global economies during the perio...

Purpose. Comparable data on distribution of family income provide reference point for determining economic performance of any country, opportunity to assess effects of income inequality and poverty drivers that are either country-or region-specific. This study analysed the effectiveness of composite indices of public spending on family benefits, la...

The current level of unemployment in Nigeria in the recent times has been worrisome, and various advocacies by scholars and policy analysts have suggested that entrepreneurship, especially small and medium scale enterprises could generate employment in the large measures. Meanwhile, inadequate financing has been identified as a strong factor causin...

Purpose: Comparable data on distribution of family income provide reference point for determining economic performance of any country, opportunity to assess effects of income inequality and poverty drivers that are either country-or region-specific. This study analysed the effectiveness of composite indices of public spending on family benefits, l...

Oil export constitutes the major source of external revenue, and exchange rate determines the naira amount of the revenue and, thus, is perceived to affect aggregate consumption expenditure in the Nigeria. This paper employed Nonlinear ARDL approach to examine the short-run and long-run asymmetric effects of oil export earnings and exchange rate on...

Investment expenditure is a major component of aggregate macroeconomic variables in any economy, irrespective of the development status. This article employed relevant econometric methodology on panel data environment to analyze the effects of foreign direct investment (FDI) inflows on economic growth of 30 leading global economies during the perio...

Appropriate policy initiatives to sustain the reversal of the downturn recently experienced in Nigeria, and proactive measures capable of forestalling future re-occurrence require hindsight knowledge of time series values of real gross domestic product as a basis for projecting the possible output growth of the country in the years ahead. This pape...

Appropriate policy initiatives to sustain the reversal of the downturn recently experienced in Nigeria, and proactive measures capable of forestalling future re-occurrence require hindsight knowledge of time series values of real gross domestic product as a basis for projecting the possible output growth of the country in the years ahead. This pape...

Housing is considered as one of the cardinal measures of the state of an economy. This paper employed data-based evidence to explore housing sector-economic growth relationship in Nigeria during 1980-2015. Choice variables were real estate business services (REBS), building construction investments (BCI), property rights index (PRI) and human labor...

Abstract In one way or the other, value added tax has been perceived to influence consumption expenditure behaviour of households as well as consumer price index. This study employed ex-post facto research design to investigate the effects of value added tax on consumption expenditure pattern and consumer price index in Nigeria. The study considere...

This paper employed time series data on relevant empirical diagnostics to examine banking sector growth-led nexus within the context of Africa’s largest economy, Nigeria. Diagnostics established stationarity of banking sector indicators and control variables at first difference. Findings showed no causal relationships between banking sector reforms...

Obviously, the relevance of SMEs in the economy cannot be overemphasized and this has necessitated policy reforms and responses in many countries. This paper employed descriptive approach to assess the relevance of SMEs in state and national economies in Nigeria. The objective was to determine the extent of relevance of the SME sector in the econom...

In any economy, human capital development is a function of the quality of its educational system, particularly at the tertiary level. Consequently, investment in human capital through qualitative education programmes is worthwhile especially where the potentials for tertiary admission are in their hundreds of thousands who could become liability to...

This study examined the effects of monetary policy innovations on stabilization of commodity prices in Nigeria. The design is basically exploratory in that the study leaves room for further study in the area. The methodology is empirical econometric analysis approach. Variables used for analysis were consumer price index (CPI), broad money aggregat...

This study empirically examined the impact of capital market development on economic growth in Nigeria for the period 1981-2008. The major tool we employed for empirical analysis is a multiple regression analysis model specified on the basis of hypothesized functional relationship between capital market development and economic growth. For capital...