Oil Resource Abundance and Agricultural Productivity in Nigeria: An Autoregressive Distributed Lag Approach (Published)
This paper analyzed and estimated the impact of oil abundance on agricultural productivity in Nigeria for the sample period of 1980 – 2018. The Autoregressive Distributed Lag model (ARDL) estimated with the Ordinary Least Square technique was used to examine the relationship among the variables. Findings from the model revealed that there was a negative and significant relationship between oil abundance and agricultural productivity in the short run while a negative and insignificant relationship existed in the long run. There was a direct and insignificant relationship between growth rate of GDP and agricultural productivity. The study therefore recommended subsidizing agricultural inputs and setting in place incentives that will keep people in the agricultural sector.
Keywords: Agricultural Productivity, Exchange Rate, Lending Rate, Oil abundance
Real Interest Rate and Savings Mobilization in Nigeria (Published)
This study empirically assessed the impact of real interest rate on savings mobilization in Nigeria. The Vector- Auto Regression (VAR) was employed, using the time series data from 1980 to 2008. The study revealed that real interest rate has negatively impacted on the level of savings mobilization in Nigeria. The need for government in Nigeria to bridge the existing gap between the lending and savings rates and increase per capita income level of the populace, to stimulate savings for investment and economic growth were revealed by the study. Therefore, efforts should be geared towards reducing domestic inflation rate to arrest its negative impact on real rates in Nigeria.
Keywords: Inflation Rate, Lending Rate, Real Interest Rate, Savings Mobilization And Nigeria, Vector Auto Regression