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Author: Ubong Udonwa
Publisher:
ISBN:
Category :
Languages : en
Pages : 26
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Book Description
Fiscal policy is a financial tool used by the government to correct expected economic disturbances and reset the economy to an equilibrium state. Based on this course, the current study investigates fiscal policy and its effect on poverty reduction in Nigeria from the year 1970-2015. The model that was adopted for the study is the Autoregressive distributed lag model with the idea of capturing the dynamic responses of the endogenous variable caused by changes in the observed variable lags and the contemporaneous and lagged values of the other explanatory variables. The test for the presence of the Unit root was conducted using both Augmented Dickey-Fuller and Phillip Perron. The result shows that in the ADF result that all the variable were stationary at first difference while only the Overseas Development Assistance (ODA) was stationary at levels while the Phillip Perron result shows that only Other Government Revenue (OGR) and Overseas Development Assistance (ODA). The Narayan bound test co-integration test was conducted in a graphical form, following the result, there exists a long-run relationship in the model. The ARDL test which comprises of the long-run estimate and short-run reveals that the estimated coefficients of the dynamic models are smaller in the short-run as compare to the long-run estimate. Secondly, the diagnostic test shows that the error terms of the short-run models are normally distributed and are homoscedastic. Majority of the findings are revealed in the work. Based on this, the study recommends; focus more on the use of other government revenue sources (non-tax income) in the finance of their expenditures and implementation of programmes.
Author: Ubong Udonwa
Publisher:
ISBN:
Category :
Languages : en
Pages : 26
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Book Description
Fiscal policy is a financial tool used by the government to correct expected economic disturbances and reset the economy to an equilibrium state. Based on this course, the current study investigates fiscal policy and its effect on poverty reduction in Nigeria from the year 1970-2015. The model that was adopted for the study is the Autoregressive distributed lag model with the idea of capturing the dynamic responses of the endogenous variable caused by changes in the observed variable lags and the contemporaneous and lagged values of the other explanatory variables. The test for the presence of the Unit root was conducted using both Augmented Dickey-Fuller and Phillip Perron. The result shows that in the ADF result that all the variable were stationary at first difference while only the Overseas Development Assistance (ODA) was stationary at levels while the Phillip Perron result shows that only Other Government Revenue (OGR) and Overseas Development Assistance (ODA). The Narayan bound test co-integration test was conducted in a graphical form, following the result, there exists a long-run relationship in the model. The ARDL test which comprises of the long-run estimate and short-run reveals that the estimated coefficients of the dynamic models are smaller in the short-run as compare to the long-run estimate. Secondly, the diagnostic test shows that the error terms of the short-run models are normally distributed and are homoscedastic. Majority of the findings are revealed in the work. Based on this, the study recommends; focus more on the use of other government revenue sources (non-tax income) in the finance of their expenditures and implementation of programmes.
Author: Benneth O. Obi
Publisher:
ISBN:
Category : Economic assistance, Domestic
Languages : en
Pages : 52
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Book Description
Author: Adesoji Farayibi
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This study investigates the linkage between fiscal policy and poverty reduction in Nigeria using a descriptive analysis. It explores the effectiveness of fiscal policy tool, especially government expenditure, in addressing the level of poverty and economic growth in the country. The study found that government capital and recurrent expenditures have not significantly reduced the level of poverty in Nigeria because of a weak linkage, which has not allowed fiscal policy to reflect its true opportunity cost. This gap created loopholes in the implementation of the various measures of fiscal policy in the country. The study therefore concludes that the level of government capital expenditures in Nigeria have weak impact on the level of poverty in the country over the period of time covered. The study therefore recommends the formulation of stable macroeconomic policies that are consistent with the peculiarity of poverty situation in the country. This would promote productivity from which both the poor and non-poor would benefit.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451829043
Category : Business & Economics
Languages : en
Pages : 9
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Book Description
This paper discusses key findings of the annual progress report on implementing the National Economic Empowerment and Development Strategy (NEEDS)—Nigeria’s Poverty Reduction Strategy Paper. The progress report highlights key accomplishments and shortcomings as well as outstanding issues. Key macroeconomic indicators improved during the last years, reflecting the authorities’ attention to macroeconomic management, an improved policy framework, and favorable external environment. Non-oil growth was robust, and despite unrest in the Niger Delta, oil production could fully fill the OPEC quota. The budgetary oil price rule was an essential anchor of fiscal policy.
Author: Joel Owuru
Publisher:
ISBN:
Category :
Languages : en
Pages : 18
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Book Description
Using a multiple regression analysis in the autoregressive distributed lag framework with ECM we include three major components of fiscal policy variables (Government capital expenditure, Government recurrent expenditure and Government Budget Deficit) as regressors and the rate of poverty in Nigeria as the dependent variable, this study explored the potency of fiscal policy in Nigeria in addressing the seemingly endemic poverty scourge from 1980-2011. Findings indicate that the level of government capital expenditures in Nigeria does not reduce the level of poverty in the country over the period of time covered by the study. Although the ECM result, which shows the speed of adjustment of the model from the short run to the long run equilibrium, is on the average, yet the economy did not show any sign of much potency in using the selected fiscal policy variables to tackle the menace of poverty in Nigeria. The study recommends that government should intensify action in implementing effective fiscal policies to ameliorate the level of poverty conditions in Nigeria.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451829035
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
This paper discusses the progress report on the National Economic Empowerment and Development Strategy (NEEDS) for Nigeria. The NEEDS 2004–07 is Nigeria’s reform based medium-term plan for economic recovery, growth, and development. Fiscal and monetary policies have been carefully managed in the implementation of NEEDS. A major budget reform introduced under NEEDS was the Oil Price Based Fiscal Rule and Medium Term Expenditure Framework (MFEF), which has enhanced macroeconomic stability by delinking government expenditure from the price of oil.
Author: Oluranti S. Komolafe
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 356
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Author: Emmanuel Elakhe
Publisher: GRIN Verlag
ISBN: 366857491X
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
Master's Thesis from the year 2016 in the subject Economics - Other, grade: 3.67, , course: Development Economics, language: English, abstract: The study examined the impact of government fiscal and monetary policies on economic growth within the period of 33 years (1981-2014). Time series data were derived from the Central Bank of Nigeria statistical bulletin, while the method of analysis was the Johansen Cointegration test, vector error correction method and the Wald test of coefficient. The result of the findings showed that there is a significant relationship between explanatory variables (government expenditure, interest rate and money supply) taken jointly and the dependent variable (real gross domestic product) in the long run. The coefficient of error correction term is -0.02 showing a 2% yearly adjustment towards the long run equilibrium. This proves that there is a relationship between the dependent variable- real gross domestic product and the independent variables - government expenditure, money supply and interest rate in the long run. The estimated coefficients of the short run model indicate no significant relationship between the dependent variable real gross domestic product and independent variables government expenditure, money supply and interest rates taken together but individually a short run relationship exist between the fiscal variable (government expenditure) and real GDP and between the monetary variable (money supply and interest rate) and real GDP. The policy implication of these findings is that more strategies needs to be put in place in order to ensure that monetary and fiscal policies taken jointly positively impacts on economic growth the in the shortrun.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451828993
Category : Business & Economics
Languages : en
Pages : 101
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Book Description
This Poverty Reduction Strategy Paper for Nigeria highlights the National Economic Empowerment and Development Strategy (NEEDS). NEEDS gives special support to agriculture, industry, small and medium-scale enterprises, and oil and gas. Under the plan, the government will seek long-term capital for investment. Trade policy will be modified to unburden business of the red tape and complex procedures that hinder it from flourishing. NEEDS envisages forging stronger links between educational institutions and industry to stimulate rapid industrial growth and efficient exploitation of resources.
Author: Michael I. Obadan
Publisher:
ISBN:
Category : Central planning
Languages : en
Pages : 324
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Book Description
