The main thrust of this study has been to provide empirical illuminations to the debate on the effectiveness of foreign aid in driving sustainable growth and development. Using an extended Barro style model of aid-augmented government expenditure and economic growth, an analytical model is...

This study examines long run and causal relationship between fiscal decentralization and economic development in Nigeria using annual data from 1970-2011. Both sub-national expenditures ratio and sub national revenue ratio were used to measure fiscal decentralisation in Nigeria. The result of...

The paper examined the effects of capital inflow on economic growth and also investigated the role of trade openness in foreign capital inflow/growth nexus in Nigeria. This is with a view to testing modernization hypothesis in Nigeria. The paper adopted the Principal Component Analysis (PCA)...

This paper contributes to the on-going empirical search for an appropriate crude oil price benchmark that ensures greater financial stability and efficient fiscal management in Nigeria. It adopted the seasonally adjusted ARIMA forecasting models using monthly data series from 2000m01 to 2012m12...

This study investigated the relative effectiveness of trade and policy shocks on sectoral output growth in a small open Nigerian economy. It is a country-specific, time-series study that verifies whether there is a difference in the effect of sectoral output response to policy shocks in Nigeria....

This study examines the effectiveness of both fiscal and monetary policies in mitigating external shocks on Nigerian economy. In addition, it determines which of the macroeconomic policy was more effective in mitigating the possible adverse effects of external shocks; The study uses annual data...

The paper examines the impact of bank consolidation on financial inter-mediation using data from the Nigerian bank industry from 2002 to 2010. Two models were specified and estimated: one for the lending activity and the other for the deposit activities. The model for lending activity has an...

In recent times, significant attention has been focused on small and medium scale enterprises in developing countries because of their potential for diversification and expansion of industrial production, as well as job creation. But unfortunately, in spite of the plausible significance of these...

This paper examines the trends and patterns of fluctuations in real output growth in Nigeria. The paper used simple statistical tools to analyze the links among the macroeconomic variables. The analysis shows that real output experienced its full business cycle and growth rate of 1970s remained...

The paper examined whether investment serves as a channel through energy could promote economic growth in Nigeria. A model that incorporated energy as separate input and as an indirect input was developed and estimated. The results showed that the potential of investment to enhance economic...