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Open Access
Article
Publication date: 27 July 2023

Olalekan Charles Okunlola, Imran Usman Sani and Olumide Abiodun Ayetigbo

The study examines the impact of socio-economic governance on economic growth in Nigeria. It measures socio-economic governance from the perspective of fiscal policy, using…

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Abstract

Purpose

The study examines the impact of socio-economic governance on economic growth in Nigeria. It measures socio-economic governance from the perspective of fiscal policy, using indicators such as investment in education, research and development (R&D) and health.

Design/methodology/approach

This study employs the Autoregressive Distributive Lag (ARDL) Bound Testing method to achieve its objective.

Findings

The study finds that socio-economic policies aimed at increasing investment in education are crucial for Nigeria’s long-term economic growth. Additionally, investment in R&D positively impacts economic growth. However, the study reveals that investment in health negatively affects economic growth in Nigeria in the long run. This suggests that if a country overinvests in health, it may divert resources from other vital sectors such as education, infrastructure and R&D, which can hinder overall economic growth. The short-run parameter is, however, not statistically significant in this study.

Originality/value

The study’s originality lies in its exploration of the relationship between socio-economic governance and economic growth in Nigeria, specifically from a fiscal policy perspective. It highlights the importance of investing in education and R&D for long-term economic growth. Additionally, the finding that overinvestment in health may have a negative impact on long-term economic growth provides valuable insight for policymakers in Nigeria and other developing countries. Overall, this study’s findings can be beneficial for policymakers and researchers interested in the intersection between socio-economic governance and economic growth in developing countries.

Details

Journal of Business and Socio-economic Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2635-1374

Keywords

Article
Publication date: 30 June 2022

Olalekan Charles Okunlola

This paper empirically tests the relationship between conflict and trade in Nigeria from 1986 to 2017.

Abstract

Purpose

This paper empirically tests the relationship between conflict and trade in Nigeria from 1986 to 2017.

Design/methodology/approach

This study made use of secondary data. Time-series data were collected from CBN Statistical Bulletin, WDI of the World Bank, MEPV of the Centre for Systemic Peace database, Stockholm International Peace Research Institute, political risk ratings of the ICRG, Freedom in the World Country Ratings of Freedom House, and ACLED database. This study used descriptive and econometrics techniques to analyze the data. It adopted the IV-GMM techniques.

Findings

The study found that domestic trade has a negative and significant effect on internal conflict in Nigeria. International trade, on the other hand, does not affect internal conflict. In addition, the interaction of trade and institutions shows that more civil liberties (CL) and lower corruption (COR) complement the effect of domestic and international trade in reducing hostilities in Nigeria over the study period.

Research limitations/implications

The main limitation of this study is the inaccessibility of data. This study could not access the data on the volume of domestic trade in Nigeria. The study employed value-added tax on all domestic transactions in Nigeria as a proxy for domestic trade in the country. The study recommends that further studies should access the data on the volume of domestic trade as this could help further understand the relationship between domestic trade and internal conflict in Nigeria.

Practical implications

Since the improved domestic trade reduces internal conflict in Nigeria, the government should formulate policies that facilitate trade. Improving anti-graft efforts and CL will ease the process of formulating trade policies and increase the impact of domestic trade on internal conflict. Furthermore, these will reduce trade barriers and transaction costs. This can be achieved if the government strengthens its anti-COR agencies by making them more autonomous. CL can also be increased by enhancing voice and accountability in the country.

Originality/value

This study advances the literature by examining the role political–institutional quality plays in the relationship between trade and conflict.

Details

International Journal of Social Economics, vol. 49 no. 12
Type: Research Article
ISSN: 0306-8293

Keywords

Book part
Publication date: 20 November 2024

Olalekan Charles Okunlola and Olumide Abiodun Ayetigbo

This study examines the impact of deposit money banks' loan on agricultural sustainability in Nigeria for the period 1985–2017. The study adopted the ARDL bonding test to…

Abstract

This study examines the impact of deposit money banks' loan on agricultural sustainability in Nigeria for the period 1985–2017. The study adopted the ARDL bonding test to determine the short- and long-run effect of deposit money banks' loan on agricultural sustainability in Nigeria. It found that bank loans have a negative impact on agricultural sustainability in both the short and long run. Similarly, deposit money banks' interest rate also has an inverse relationship on agricultural growth in Nigeria in both the long and short run. The study concludes that bank finance is very impactful in stimulating agricultural growth within the context of the Nigerian economy. Therefore, the study recommends that the Nigerian government should increase agricultural financing and lower interest rates in order to achieve food sufficiency and promote agricultural sustainability.

Details

Growth, Poverty and Developmental Aspects of Agriculture
Type: Book
ISBN: 978-1-83608-077-0

Keywords

Content available
Book part
Publication date: 20 November 2024

Abstract

Details

Growth, Poverty and Developmental Aspects of Agriculture
Type: Book
ISBN: 978-1-83608-077-0

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