Papers by Lloyd Amaghionyeodiwe
Zenodo (CERN European Organization for Nuclear Research), Jan 21, 2023
This study postulates that changes in oil prices matters in the magnitude and direction ERPT in t... more This study postulates that changes in oil prices matters in the magnitude and direction ERPT in the context of the oilimporting and oil-exporting perspectives. This hypothesis is motivated by the growing evidence of the significant response of the exchange rate to changes in oil prices. The short-run and long-run dynamics of the ERTP are jointly captured by the study using an ARDL modeling framework. Using quarterly date from 1990 (quarter one) to 2022 (quarter one), the study's findings imply that the incomplete dynamic of the ERPT can be generalized in the short run regardless of the oil-exporting and/or oil-importing characteristics of the economy under consideration. In South Africa, changes in oil prices tend to lessen the inflationary effects of ERPT by reducing the magnitude of the EPRT over both the short and long terms, but same cannot be said for Nigeria.
Journal of Economics and Development, 2003
International Journal of Technology, Policy and Management, 2016
Information and communication technology (ICT) is a general purpose technology that has the poten... more Information and communication technology (ICT) is a general purpose technology that has the potential of playing an important role in economic growth, and other dimensions of social and political development in developing countries. Using quarterly data and Johansen techniques, the study found significant impacts of ICT investment on economic growth. Although other variables have positive impact on economic growth, the results implies that if Nigeria seeks to enhance its economic growth, the country needs to further implement specific policies that facilitate investment in ICT.
International Journal of Managment, IT and Engineering, 2013
In today's world of competition, achievement of Sales & Marketing targets is not an easy ... more In today's world of competition, achievement of Sales & Marketing targets is not an easy task especially during economic slowdown when the largely business has faced adversity. The impact and hardships of slow down has also been experienced in the organized retail industry in India. The Retail Industry in India is shaping up differently due to its demography. In India, large numbers of small size retailers are available, which are called traditional retail outlets. The retail market in India is the fifth largest retail destination in the world. The industry is emerging as one of the attraction for investment across the world. As per one survey study it is revealed that consumers spending have been reported increased by 75% in the last four years, which indicates towards future growth of Retail Industry in India. Also in view of Experts, the retail sector is expecting to contribute to 22% of India's GDP by 2010 and will grow to the tune of US$833 billion by 2013. This study is an attempt to understand the current situation of Indian Retail Industry especially organized FMCG Retailing. Knowledge on the latest development in the organized retail industry has also been shared in this paper. The study has also highlighted latest development in organized FMCG Retail Industry. The role of the key factors which can significantly contribute to beat the stiff completion and sustained the growth of organized FMCG retailing, have also been discussed in this paper.
The study investigated the relationship between energy consumption and GDP in the OECD. Secondary... more The study investigated the relationship between energy consumption and GDP in the OECD. Secondary data was used while the Ordinary Least Squares (OLS) method and the Generalized Method of Moments (GMM) estimator were used for our estimation of short-run and long-run elasticities of price and income for total energy and electricity demand for the OECD. The results showed among others that long-run price and income elasticities for total energy are inelastic. Electricity price was found to be inelastic but income elasticity in the electricity model was elastic. The inelastic nature of long-run price and income elasticities of total energy demand shows that energy consumption in the OECD responds slowly to changes in energy price and income. Based on the findings, a recommendation is for policy makers to concentrate on encouraging energy efficiency as a way to reduce energy and electricity consumption.
International journal of applied econometrics and quantitative studies, 2006
While each tier of education has at various times been the concurrent (joint) responsibility of b... more While each tier of education has at various times been the concurrent (joint) responsibility of both Federal and state governments, the former has historically been much more involved at the post secondary level. The shares of Federal Government recurrent and capital expenditures by level of education between 1996 and 2002. Over the period, the share for the (24) Federal universities has varied between roughly 40 and 50 percent of total Federal expenditures, while those for the (16) polytechnics and (20) colleges of education have remained fairly constant (apart from one year) at around 17 percent and 11 percent respectively. Overall, during the whole period, the tertiary education sub sector has received between 68 percent and 80 percent of the total Federal expenditures for education.
American Journal of Biomedical Science & Research, 2020
The economic downturn in early 1980s in Nigeria led to the introduction and implementation of use... more The economic downturn in early 1980s in Nigeria led to the introduction and implementation of user charges in government health care facilities. This coupled with the persistent poverty level in Nigeria raises the question of consumers' ability and willingness to pay these user charges. Accordingly, using primary data, this study examined the possible trade-off between user charges and demand for government health services in Nigeria. The analysis showed that increasing user fees substantially reduced the use of government health facility by low-income earners. Thus, it was recommended, among others, that government should introduce price discrimination into user fees, to be set at marginal cost. This would help avoid the adverse distribution effects of user-fees, especially, on the lower income group.
The IUP Journal of Applied Economics, 2005
This paper examined the choice of the exchange rate regime in Nigeria using a time series approac... more This paper examined the choice of the exchange rate regime in Nigeria using a time series approach. Both multinomial logit and simultaneous limited-independent models were estimated using time series data from 1960 to 2000. The study found that when domestic inflation was relatively high with respect to world inflation, a fixed exchange rate regime was preferred. This serves as an anchor. Also, domestic monetary disturbances appreciated the real exchange rate and favoured a more flexible arrangement, while in the presence of real shocks the balance of payments acted as a shock absorber and a fixed regime was more likely.
Over the years, while being confronted with increasing demand for more and better health care, th... more Over the years, while being confronted with increasing demand for more and better health care, the Nigerian government began to implement reform measures so as to complement spending as well as cope with the ever-increasing requirement for health spending. But, whether or not these increased spending translates into a healthier population has remained an unresolved issue in Nigeria. Using secondary data, this study examines the public health care spending in Nigeria and whether or not these lead to a healthier population. The study finds that despite the increase in most components of health care spending in Nigeria, the health status of the average Nigerian and the condition of health infrastructure has not improved appreciably. Access to good health care has remained basically an elite privilege because health services are yet to be provided in sufficient quality and scope, to meet the needs of the people.
The Palgrave Handbook of Agricultural and Rural Development in Africa, 2020
The adoption of user charges in the consumption of public health care services in Nigeria has bee... more The adoption of user charges in the consumption of public health care services in Nigeria has been questioned on many grounds, one of which is, the willingness to pay for these services, especially given the high rate of poverty being experienced in the Nigerian economy. While out-of-pocket expenses dominate in households’ payment for health care services in Nigeria, the proportion of Nigerians living in poverty (both in the rural and urban areas) kept increasing every year as indicated by the incidence of poverty data. This unswerving increase in the poverty rate does influence the households’ ability and willingness to pay these charges in Nigeria. Accordingly, this study, using both primary and secondary data, examined the determinants of households’ willingness to pay for public health care services in Nigeria and evaluate the extent to which these factors affect households’ willingness to pay in both urban and rural areas. The findings show that the willingness to pay increased...
Remittances play a potentially positive role as a tool for stimulating development and transforma... more Remittances play a potentially positive role as a tool for stimulating development and transformation of recipient countries, especially developing ones like Nigeria where remittances are an important source of foreign exchange. Available data indicates that Nigeria is one of the countries with the highest inflow of migrant remittances which, if well utilized, could lead to the economic transformation of the country. The paper used an error correction model and data from 1977 to 2009 to investigate whether or not migrant remittances have any developments impacts. Specifically, we tested whether or not there a long run relationship between output growth and remittances in Nigeria. The findings indicates that remittances had positive effect on Nigerians per capita income implying that remittances can increase savings, capital accumulation and productivity and output growth.
Journal of Management, Economics, and Industrial Organization, 2019
This study assessed the optimal financing mix for Afren Public Limited Company based on the trade... more This study assessed the optimal financing mix for Afren Public Limited Company based on the trade-off theory and evaluated the cost to the firm from deviating from that position. In doing this, we derived a firm-specific optimal capital structure using the cost of capital approach, which involved the use spreadsheet modelling through an iterative process to determine series of discount rates based on different combinations of debt and equity under the assumption of constant earnings to the firm. The base result shows that as the debt intensity increases, the equity Beta has a multiplier effect such that the cost of equity increases more than proportionately to the increase in leverage. As more debt is introduced, the risk of loan default increases, thus increasing the credit spread over the riskless rate and effectively the pre-tax cost of debt. The result from the firm's weighted average cost of capital (WACC) and value as a function of leverage, implied optimal debt ratio is 40% and yields a WACC of 8.63% which is effectively the minimum cost of capital that maximizes the value of the firm. Between 40% and 45% leverage, the debt servicing capacity of the firm measured by the interest coverage ratio drops significantly from 4.6 to 1.4 due to high interest burden. This increased credit risk has a direct impact on the firm's credit quality rating.
International Journal of Business & Economic Development, 2018
Healthcare in Nigeria is paid for on a cash and carry basis while out-of-pocket expenses dominate... more Healthcare in Nigeria is paid for on a cash and carry basis while out-of-pocket expenses dominate in households' payment for health care services as a result of user charges that were introduced in the early 1980s. This coupled with the persistent poverty level in Nigeria raises the question of consumers' ability and willingness to pay these user charges. Accordingly, using primary data, this study examined the possible effect of these user charges on the demand for Public Health Care Services in Nigeria, especially how it affects the poor and lowincome earners. The analysis showed that increasing user fees substantially reduced the use of government health facility especially by the poor and the low-income earners. Also, the poor are more likely to trade-off their utilization of public sector health care services for self-treatment or traditional healers, thus significantly lowering their utilization of any modern medical care. Thus, it was recommended, among others, that government should introduce price discrimination into user fees, to be set at marginal cost. This would help avoid the adverse distribution effects of user-fees, especially, on the lower income group.
Athens Journal of Business & Economics, 2017
The adoption of mobile technologies in developing countries in Africa, the Caribbean and Asia has... more The adoption of mobile technologies in developing countries in Africa, the Caribbean and Asia has grown exponentially. People in poor regions are using mobile phones for banking, business transactions, socializing, staying connected and monitor the weather. This has reduced the need for travel, lead to the creation of new businesses, shorten supply chains and boost productivity. Consequently, these technologies can be used to eliminate the time and distance barriers between businesses and their customers. This paper examined the impact of mobile technologies in ten Caribbean countries which are primarily developing countries. It utilized a crosscountry panel data and regression analysis to estimate and investigates the impact of mobile technologies on economic growth. Results from the paper showed that all the coefficient of the mobile technology components namely the internet user ratio, mobile-cellular telephone subscriptions and the fixed-telephone subscriptions were all significant and positive across all the regressions. This is because of the belief that they contribute to the knowledge spillover, which consequently enhances economic growth.
Review of Economic and Business Studies, 2017
This study investigated the nature or direction of causality between GDP, electricity consumption... more This study investigated the nature or direction of causality between GDP, electricity consumption and total energy consumption in the OECD. Secondary data was used while both the ordinary least square (OLS) and generalized method of moments (GMM) estimators were employed to test for causality in our model. Our result found the presence of a bi-directional causality between energy consumption and GDP for the total energy demand model and between electricity consumption and GDP for the electricity demand model. By implication, the bi-directional causality in our estimated models suggest that both energy consumption and GDP are important factors in economic development in the OECD. Thus, if misguided policy measures are made to reduce energy consumption it could have a detrimental effect on GDP which will slow down economic growth. A recommendation is for policy makers to concentrate on encouraging energy efficiency as a way to reduce energy and electricity consumption.
ijmra.us
The ratification of the Millennium Development Goals (MDGs) by the United Nations Millennium Summ... more The ratification of the Millennium Development Goals (MDGs) by the United Nations Millennium Summit in 2000 was not only a landmark event but it became effectively the world"s most vital development challenges offering the international community, the opportunity to have a common position and integrated vision on the best ways to address and solve the multidimensional problems facing humanity and to promote sustainable development, especially for developing and less developed countries, Nigeria inclusive, where the poverty and hunger, among others, is pervasive. Nigeria though blessed with enormous oil wealth and a large human and physical resources is still found wanting in poverty eradication and in meeting the MDGs targets. Most, if not, all these government intervention programmes and schemes have not really achieved the desired result in poverty reduction and in meeting the MDGs target, thus, this paper, using descriptive analysis, assesses Nigeria"s efforts at achieving the Millennium Development Goals in 2015, more especially the eradication of poverty and hunger in the Nigerian economy. An appraisal of these targets indicators shows that Nigeria have not performed well with respect to eradicating extreme poverty and hunger, reducing child mortality,
Journal of Management, Economics, and Industrial Organization, 2020
Corruption has been widespread in Nigeria and it has been identified as one main impediment milit... more Corruption has been widespread in Nigeria and it has been identified as one main impediment militating against its rapid growth and development. The consequences of corruption in Nigeria have been extensive and all-embracing and this includes both direct and indirect effects such as economic distortions in tax collection, public expenditure level and composition of government spending as well as inefficiencies and waste. This obliquely scares away foreign and local investors with significant adverse effect on the economy. This study thus, using secondary data, error correction model and granger causality test, investigated the relationship between corruption and economic growth in Nigeria. The findings indicated that there is long-run relationship between the level of corruption and economic growth in Nigeria. Both the Corruption Perception Index (CPI) and Relative Corruption Rank (RCR) has positive but not statistically significant effect on economic growth in the short-run. The Granger Causality test showed that corruption in Nigeria does not granger cause economic growth however economic growth granger causes relative corruption. In contrast, there is the presence of causal relationship from economic growth to Corruption Perception Index.
Review of Economic and Business Studies, 2017
This study investigated the nature or direction of causality between GDP, electricity consumption... more This study investigated the nature or direction of causality between GDP, electricity consumption and total energy consumption in the OECD. Secondary data was used while both the ordinary least square (OLS) and generalized method of moments (GMM) estimators were employed to test for causality in our model. Our result found the presence of a bi-directional causality between energy consumption and GDP for the total energy demand model and between electricity consumption and GDP for the electricity demand model. By implication, the bi-directional causality in our estimated models suggest that both energy consumption and GDP are important factors in economic development in the OECD. Thus, if misguided policy measures are made to reduce energy consumption it could have a detrimental effect on GDP which will slow down economic growth. A recommendation is for policy makers to concentrate on encouraging energy efficiency as a way to reduce energy and electricity consumption.
Nigeria is not exempted with the present global issue with the focus on reducing poverty level us... more Nigeria is not exempted with the present global issue with the focus on reducing poverty level using local content. This paper focus on apprenticeship fee, entrepreneurial skill through training and small Scale Enterprises in Nigeria as countries differs so the appropriate solution differs. The technique adopted is ordinary least square method using binary probit model to analyse primarily sourced data. The financial constraint remains of the major problem facing SSE and government at all level need to design programme to address recent economy issues.
Aggregate flows of foreign direct investment (FDI) to Nigeria, as in economies of the world, fall... more Aggregate flows of foreign direct investment (FDI) to Nigeria, as in economies of the world, fall into different classified sectors of the economy. Studies on FDI in economic literature have been directed at the macroeconomic effects of FDI on economic growth. As sound as the findings of such studies appear, the growth impacts that FDI flows create on each sector of the economy are, however, masked. Thus this paper, using time-series data for the period 1970-2003 and adopting the ordinary least square technique, investigated the impacts of FDI flows on the outputs of some selected sectors in the Nigerian economy. The parsimonious form of analysis of general-to-specific was applied in the analysis of the model. The results shows that FDI flow was significant to sectoral growth of the mining and quarrying, and the transportation and communication sectors, but was not significant to the growth of the agriculture, forestry, and fishery sector.
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Papers by Lloyd Amaghionyeodiwe