Papers by bukonla osisanwo
Journal of Business Administration and Social Studies
Central Bank of Nigeria Journal of Applied Statistics
The aim of this study is to examine the effect of FDI on employment in ECOWAS sub region between ... more The aim of this study is to examine the effect of FDI on employment in ECOWAS sub region between 1990 and 2019. The study utilizes a panel autoregressive distributed lag model to analyze the short run and long run relationship between FDI and employment across ECOWAS sub region. In the short run, the impact of FDI on employment is negative and statistically not significant. Meanwhile, in the long run FDI has a positive and statistically significant impact on employment rate. This implies that FDI has the capacity to generate employment in countries in ECOWAS sub region. Therefore, this study recommends that policymakers in the ECOWAS sub region should facilitate the achievement of productive, employment and decent work for all, policy measure that will facilitate the inflows of FDI should be embarked upon.
Ife Journal of Economics and Finance, 2017
AGOGO: Journal of Humanities
This paper investigates how ethnic diversity influenced capital formation in West African countri... more This paper investigates how ethnic diversity influenced capital formation in West African countries using a cross-country dataset ranging from 1991 to 2017. Using the fully modified ordinary least square method, the results showed that one of the important factors responsible for capital formation in the region is ethnic diversity. Other factors found influencing capital formation in the region were interest rate, foreign direct investment, inflation rate and financial development. Thus, the government should ensure that the countries' resources are not controlled and beneficial to the people with the same cultural groups as it accounted for the poor state of the region's investment base.
iranian economic review, 2019
This study investigates the impact of monetary policy on balance of payments (BOP) adjustment in ... more This study investigates the impact of monetary policy on balance of payments (BOP) adjustment in Nigeria within the periods, 1980-2015. The study used the bound testing approach to show the relationship that exists among monetary policy variables (money supply, domestic credit, inflation and exchange rate), output growth, and trade balance and BOP adjustment in Nigeria. The study shows that there is a long-run relationship between monetary policy variables and balance of payment adjustment. The findings further revealed that in the long-run, money supply and trade balance have positive impact on balance of payments adjustment in Nigeria. On the other hand, domestic credit, exchange rate, inflation rate and gross domestic product suggest a negative impact on balance of payments in Nigeria. An important observation from the empirical estimate is that money supply has more of a long-term impact on BOP adjustment than other monetary policy variables. This study suggests that in stabiliz...
iranian economic review, 2018
T his study examines the effect of oil fluctuation export earnings on government income and expen... more T his study examines the effect of oil fluctuation export earnings on government income and expenditure in Nigeria using a time series data from 1986 to 2015. The study utilized co-integration techniques and ordinary least square as the methods of analyses. The co-integration tests indicate the existence of a long-run equilibrium relationship between oil export earnings, government income, and expenditure. The results also show that oil export earnings have a positive impact on total government income and expenditure. However, the impact of oil export earning on government revenue was significant. Other variables that influence government income and expenditure are the total income and population size. The policy implication derivable from this study is that increase in government expenditure without a corresponding increase in revenue could widen the budget deficit. Therefore, the government should explore other sources of revenue especially the non-oil minerals sector, and also re...
This study examines the impact of financial development on economic growth in Nigeria using annua... more This study examines the impact of financial development on economic growth in Nigeria using annual time series data between 1980 and 2014. The study tests for the unit root and co-integration to determine the time series properties of our variables before using ordinary least square estimation technique to evaluate the long-run estimates and possible policy inferences. The financial development indicators are financial deepening, bank deposit liability, private sector credit ratio, stock market capitalization and interest rate, while economic growth is measured by real gross domestic product. The results show that all the indicators of financial development except private sector credit ratio have positive impact on the economic growth in Nigeria. it implies that banking sector and stock market development played critical role in the output growth of the real sector. However, the negative impact of private sector credit indicate that provision of credit to investors do not enhance output due to high interest on loan as reported in the study. Thus, the study suggests that for the country to experience finance-led growth in Nigeria, the apex bank must ensure that loans are available to local industrial investors at a low interest rate.
Acta Universitatis Sapientiae, Economics and Business
Despite the wealth of literature on the oil price growth examinations, there is a shortage of res... more Despite the wealth of literature on the oil price growth examinations, there is a shortage of research on the causality between oil prices and various macroeconomic fundamentals with regard to the group of net oil-exporting countries in Africa. This study examines the causality between oil price volatility and macroeconomic fundamentals in net oil-exporting countries in Africa using the Toda–Yamamoto and homogeneous causality techniques to gauge the nexus in the selected countries from 1995 to 2019. Our findings from the panel causality test suggest that oil price volatility significantly Granger causes the economic growth of the selected net oil-exporting countries in Africa. However, a mixed outcome was observed for the cross-sectional analyses using the Toda–Yamamoto causality test. Hence, the study offers the need for a policy framework that would drive the output growth as oil price changes continue to threaten macroeconomic variables.
Economic Insights – Trends and Challenges
This study examined the relationship between FDI inflows and poverty reduction vis-à-vis Human De... more This study examined the relationship between FDI inflows and poverty reduction vis-à-vis Human Development Index in which majority of past studies have not fully explored in Nigeria. Data were extracted from secondary sources with application of ARDL and Bounds test technique. The major findings that came up in this study are as follows; FDI net inflows had an insignificant negative relationship with GDP per capita that measures welfare of the people in terms of the socio-economic benefits in Nigeria. Similarly, net FDI inflows had a negative but insignificant relationship with literacy rate, which measures welfare of the people in terms of educational attainment. Whereas, net FDI inflows had an insignificant positive relationship with life expectancy which measures welfare of the people in terms of health. Consequently, steaming from the principal findings that emerged in this work, the following recommendations are therefore made for the policy makers in Nigeria. When the Nigerian...
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Papers by bukonla osisanwo