Trade Openness and Solid Mineral Sub-Sector Growth in Nigeria (Published)
Government at different times had implemented policies and programs to trigger the performance of the solid mineral sub-sector in Nigeria positively yet it contribution to the GDP remains dismal. Hence, the study focused on the impact of trade openness on the growth of solid mineral Sub-sector in Nigeria from 1981 to 2020. The study employed Auto Regressive Distributed Lag (ARDL) as the modeling technique. Solid mineral subsector (SLM) was used as the dependent variable while Trade openness (TPN), Foreign direct investment (FDI), Foreign portfolio investment (PFI), Remittances (RMT) constituted the independent variables. Exchange rate (EXR) was used as check variable. The study found that TPN, FPI, RMT and EXR negatively influenced the solid mineral sub-sector. FDI maintained a positive relationship with SLM. Based on these findings, the paper recommended that government should extend the tax exemption period for companies exploiting solid minerals beyond the existing three years to attract foreign investors into the sub-sector. Also, government should adequately regulate the mining sub-sector to attract portfolio investment and foreign remittances into the sector.
Keywords: Growth, Solid Mineral., trade openness
Monetary Policy and Inclusive Growth in Nigeria (Published)
The objective of the study is to determine the impact of monetary policy on inclusive growth. The study employed multivariate regression model to establish the effect. Data was collected on PCI as proxy for inclusive growth, and exchange rate, interest rate and money supply as monetary policy tools. The OLS technique revealed a significant variation between money supply and inclusive growth which implies that it will be in the best interest of the populace if monetary policy measures are employed to effect changes in the economy.
Keywords: Growth, Monetary Policy, Nigeria, inclusive
GROWTH AND INEQUALITY: IS THERE ANY CLEAR-CUT RELATIONSHIP (Published)
Theory predicts complex and multidimensional relationships between inequality and growth. Indeed, previous studies on inequality and growth using various estimation techniques, inequality measures, country samples and time frames have found conflicting results ranging from positive , negative, non-linear to insignificant and inconclusive relationships. In this study, we follow the model of Forbes (2000) to examine whether or not inequality affects growth. With the newly improved inequality data provided by the University of Texas Inequality Project (UTIP, 2013), we used the System-GMM to estimate the relationship in a panel of 65 countries over the period 1965-2005 on 5-year interval. We found a positive but statistically insignificant co-efficient of inequality on growth
Keywords: Growth, Income Distribution, Inequality, System GMM
Hiv/Aids in Pregnancy Process and Endogenous Life Fluctuation in Least Developed Economics (Published)
This article studies transmission risk from mother to child during the pregnancy process where the immune system acts like health defense in an endogenous growth model with epidemiological literature. When the transmission risk becomes positive, the system defense also increases in order to stop the pandemic propagation. Since a given level is crossed, fixed points are ruled out, then cycles and chaos arise, thus makes population growth tends to zero. The social planner’s intervention in order to ensure population growth reaches the steady state defines a unique optimal path where per-capital capital must be monotonic and increasing in development economics. The application of the theory shows the existence of a stable locus where the gap between lives fluctuations and the steady state tends to zero.
Keywords: Chaos, Cycles, Epidemiology, Growth, Infectious diseases, Spectrum Convergence, optimal steady state