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Domestic investment, external debt and economic growth: cointegration and causality evidence from Nigeria

Article Published 2017 1143 hits Available

Re-visiting the drivers for increasing external debt

Abstract

This paper investigates the drives for increasing external debt in an open economy Nigeria over the period 1970 to 2017 using general to specific approach (GETS) approach (Hendry, 1995). The Johansen cointegration test confirms that variables have long run relationship. The empirical results for both long run and short run estimates indicate oil price, domestic savings and fiscal deficits play a significant role in increasing external debt in Nigeria. The study also found evidence that the dummy variables for exchange rate and debt relief also accelerate the growth of external. This finding indicates that, after the multilateral debt relief between 2005 and 2006, fresh loans are still coming to Nigeria. To this end, Nigeria should focus on investment in real sectors especially in agriculture and manufacturing to increase export performance. This would enable the country to generate adequate foreign earnings and stimulate domestic savings, and reduce reliance on oil revenue...

Article Published 2019 903 hits Available

Do natural resource abundance spur economic growth in Nigeria?

Adamu, Ibrahim Mohammed

Abstract

The present paper investigates the relationship between natural resource abundance and economic growth for Nigeria covering the period 1970 to 2016. Our methodology encompasses autoregressive distributed lag (ARDL) bound test to cointegrating approach augmented by Bayer and Hanck combined cointegration test. Empirical results confirm a long run relationship among the variables under examination. More importantly, findings indicate that natural resource exerts a negative and significant impact on economic growth in both long run and short run dynamic analysis. This validates the Sachs and Warner’s hypothesis that natural resource is a curse than a blessing in Nigeria. Hence, the study stresses the needs for diversifying the non-resource based sectors to support the economy. ..

Article Published 2021 1074 hits Available

Technical education in Nigerian Universities: do students’ perception of the programme changes over time?

Auta, Mohammed Adamu

Abstract

This study determined whether undergraduate technical education students’ perception of the programme changes over time. Qualitative design approach was adopted. The population for this study was 174. However, due to the peculiar nature qualitative study, a total of 10 final year undergraduate technical education students drawn from the five Universities offering technical education programme participated in the study. Interview was used as instrument for data collection. Thematic analysis was used to analyze the data. Member checking was used to establish the validity and reliability of the result. Findings from the study indicated that students’ perception of technical education in Nigeria universities relative to the knowledge of the programme prior to admission, the nexus between the programme and engineering/other related environmental courses and job prospect open to them after graduation changes as they advanced in the programme. It can therefore be concluded that vocational.....

Article Published 2023 448 hits Available

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