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  • Author: Olatunji Abdul Shobande x
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Financing Human Development for Sectorial Growth: A Time Series Analysis

Abstract

The role which financing human development plays in fostering the sectorial growth of an economy cannot be undermined. It is a key instrument which can be utilized to alleviate poverty, create employment and ensure the sustenance of economic growth and development. Thus financing human development for sectorial growth has taken the center stage of economic growth and development strategies in most countries. In a constructive effort to examine the in-depth relationship between the variables in the Nigerian space, this paper provides evidence on the impact of financing human development and sectorial growth in Nigeria between 1982 and 2016, using the Johansen co-integration techniques to test for co-integration among the variables and the Vector Error Correction Model (VECM) to ascertain the speed of adjustment of the variables to their long run equilibrium position. The analysis shows that a long and short run relationship exists between financing human capital development and sectorial growth during the period reviewed. Therefore, the paper argues that for an active foundation for sustainable sectorial growth and development, financing human capital development across each unit is urgently required through increased budgetary allocation for both health and educational sectors since they are key components of human capital development in a nation.

Open access
Effects of Energy Use on Socioeconomic Predictors in Africa: Synthesizing Evidence

Abstract

The paper examined the effects of energy use on socioeconomic predictors in Africa. The Gary Becker hypothesis and the Michael Grossman demand for healthcare model were used to interact with energy related predictors on socioeconomic essentials. Our experimented model foretold the urgent need for government intervention programmes to resolve the energy misery in the African region.

Open access
Unveiling the Theoretical Mistakes in the World Bank Formation and its Implication on Survival of Africa Monetary Union

Abstract

The quest for urgent solution to resolve the world liquidity problem has continued to generate enthusiastic debates among political economists, policy makers and the academia. The argument has focused on whether the World Bank Group was established to enhance the stability of international financial system or meant to enrich the developed nations.

This study argues that the existing political interest of the World Bank Group in Africa may serve as lesson learned to other ambitious African Monetary Union.

Open access
Mechanics of Investment Drivers in Chinese Economy

Abstract

We examine the predictors of investment in the Chinese economy for the period 1973-2018. Our study adopts the Mark Nerlove (1962) partial adjustment hypothesis combined with instrumental econometric techniques based on the condition of the data used. Our results provide strong evidence that supports savings, export earnings, and final consumption expenditure as correlates of predictors of investment in China. Based on empirical results, we strongly recommend the integration of the unbaked population to a formal financial service to further stimulate more investment in the Chinese economy.

Open access
New Keynesian Liquidity Trap and Conventional Fiscal Stance: An Estimated DSGE Model

Abstract

The study investigates the effect of New Keynesian liquidity trap on fiscal stance in the United States, United Kingdom and Japan economies. We developed our DSGE model in the context of an optimal and persistent interactive fiscal policy, which allows us to track the transmission channel through which shocks are distributed among real economic variables. The evidence suggests that zero lower bound mitigates the ability of monetary policy to absorb the effect of exogenous shock on the macroeconomic variables while expansionary fiscal policy was able to absorb the shock persistence transmitted from the nominal interest rate.

Open access