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Journal of Economics and Allied Research (JEAR) is a peer-reviewed open access journal published by the Center for Contemporary Economics and Allied Research, Department of Economics in collaboration with the University Press, University of Nigeria. The journal accepts state of the art research in the following areas: All areas of mainstream economics as well as other areas such as environment, health, economics geography, social and cultural issues, petroleum and energy economics, political economy and public policy. The journal publishes articles quarterly. Articles involving cross sectional, cross country, time series and panel studies are welcome. In selecting articles for publication (from articles that have passed the review process) the journal will try to strike a balance among the subject areas and methodological approaches. In order to facilitate the speed of acceptance, articles addressing current economic problems or challenges with specific policy relevance will be given priority. Articles can be submitted online or as attachment to the email of the journal editor (Email: jeareconunn@gmail.com)
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This study’s aim was to examine the influence of agricultural credit on Nigeria's economic growth for the period of 1981-2017. Data is sourced from Central Bank of Nigeria (CBN) statistical bulletin and world development indicator (WDI). The detailed objectives are to analyze the effect of the Agricultural credit guarantee scheme fund (ACGSF) and the deposit money bank credit to agric sector (DMBCA) on Nigeria's Economic Growth. Data was analyzed using the test for stationarity, Auto-Regressive Distributed Lag (ARDL). ARDL is adopted due to the mixed order of stationarity of the variables at levels and first difference. From the research results, it was established, in the long run, that DMBCA is significant and there exists a direct relationship, only in the short run, and the ACGSF is insignificant both the short and long run but has a direct relation in the short run and an inverse relationship in the long-run. Therefore, it is recommended, that the Federal Government should make coordinated attempts to ensure that farmers especially small-scale farmers have easy access to the financial aids and grants provided and the funds should be disbursed appropriately and adequately without any hitch.
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Aim: The paper aimed at examining the asymmetric effect of oil price shock on exchange rate and domestic investment in Nigeria. Study Design: Country case study. Place and Duration of Study: Nigeria. Time series data ranging from 1970-2010. Methodology: This study utilised elaborate econometric analysis which tests the sensitivity of exchange rate, private investment, public investment, per capita income and industrial production to oil price shocks, using the Impulse Response Functions (IRFs) and Variance Decomposition (VDC) techniques within a Vector Autoregressive (VAR) framework. Results: The result clearly revealed that while government expenditure exhibited immediate positive response to oil price shock, public investment, private investment and industrial production exhibited negative response to oil price shock, further confirming the evidence of “Dutch disease” in Nigeria. The variance decomposition analysis further revealed that exchange rate, government expenditure and domestic investment were mainly affected by oil shock, particularly, in the short run. Conclusion: The study concludes that volatility in crude oil prices has negative impact on domestic investment and industrial development in Nigeria. It is recommended among other things in this study that the usual practice of sharing oil windfalls to the three tiers of government should be discouraged; rather, the central government should allocate these windfalls to priority sectors of the economy to enhance development.
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Given its consumptionist nature, economic activities in Nigeria are mainly driven by household aggregate consumption expenditure with greater percentage of the spending on consumer-goods-importation. A statistical performance-illustration of the sectoral components of Nigeria's gross domestic product (GDP) provided pointers to a recession and further provided insights towards facilitating functional dimensions for moving the economy from recession to renaissance. Evidences from the sectoral scrutiny showed asymmetric growth in GDP and its major components. While growth in agriculture, construction, trade, and service sectors boosted GDP growth in 2015, only the agricultural and service sectors recorded positive growths in the making of 2016 GDP leaving the abysmal performance of the other sectors accountable for the current recession. This study also documented a positive strength of relationship between the growth rates of Nigeria's real GDP and service sector contributions-a cursor to the role played by human capital development, administrative and professional services. Based on findings, this study recommends import-substitution strategies aimed at encouraging growth in the non-oil trade balance and the provision of basic infrastructure aimed at boosting real sector activities in the industrial, trade and construction sectors so as to actualize the country's desire for economic diversification.
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The performance of the U.S. economy over the past several years has been remarkable, including a rebound in labor productivity growth after nearly a quarter century of sluggish gains. To assess the role of information technology in the recent rebound, this paper re-examines the growth contribution of computers and related inputs with the same neoclassical framework that we have used in earlier work. Our results indicate that the contribution to productivity growth from the use of information technology -- including computer hardware, software, and communication equipment -- surged in the second half of the 1990s. In addition, technological advance in the production of computers appears to have contributed importantly to the speed-up in productivity growth. All in all, we estimate that the use of information technology and the production of computers accounted for about two-thirds of the 1 percentage point step-up in productivity growth between the first and second halves of the decade. Thus, to answer the question posed in the title of this paper, information technology largely is the story.
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The difference and system generalized method-of-moments estimators, developed by Holtz-Eakin, Newey, and Rosen (1988, Econometrica 56: 1371–1395); Arellano and Bond (1991, Review of Economic Studies 58: 277–297); Arellano and Bover (1995, Journal of Econometrics 68: 29–51); and Blundell and Bond (1998, Journal of Econometrics 87: 115–143), are increasingly popular. Both are general estimators designed for situations with “small T, large N″ panels, meaning few time periods and many individuals; independent variables that are not strictly exogenous, meaning they are correlated with past and possibly current realizations of the error; fixed effects; and heteroskedasticity and autocorrelation within individuals. This pedagogic article first introduces linear generalized method of moments. Then it describes how limited time span and potential for fixed effects and endogenous regressors drive the design of the estimators of interest, offering Stata-based examples along the way. Next it describes how to apply these estimators with xtabond2. It also explains how to perform the Arellano–Bond test for autocorrelation in a panel after other Stata commands, using abar. The article concludes with some tips for proper use.