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All Journal Jurnal Ekonomi & Studi Pembangunan JURNAL EKONOMI DAN BISNIS AIRLANGGA
Adelowokan, Oluwaseyi Adedayo
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Economics, Econometrics & Finance

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Fiscal Policy, Private Consumption, and Economic Growth among the Economic Community of West African States Adelowokan, Oluwaseyi Adedayo
Jurnal Ekonomi & Studi Pembangunan Vol 22, No 2: October 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v22i2.10966

Abstract

This study examines the impact of fiscal policy and private consumption on economic growth among the Economic Community of West African States (ECOWAS) spanning from 1988 to 2017 using the Panel Pool Mean Group. The results depicted that the government’s recurrent expenditure for growth was inversely but significant to economic growth, while capital expenditure was positively and statistically significant to explain economic growth in Nigeria. It can be seen that capital expenditure is vital for economic growth. Besides, private consumption’s negative effect on economic growth was a disconnection between economic output and private consumption. The results further showed that tax revenues in ECOWAS countries had a positive and significant influence on economic growth. Therefore, the study recommends re-visit government policy(ies) channeling government spending to increase ECOWAS output rates and spur regional economic growth.
IMPACT OF TRADE LIBERALISATION REGIME AND ECONOMIC GROWTH IN NIGERIA Adeniwura, Oluwatoba Oyedele; Onanuga, Abayomi Toyin; Adelowokan, Oluwaseyi Adedayo
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 2 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I22025.333-343

Abstract

Introduction: This study aims to examine the impact of trade liberalization on economic growth in Nigeria, considering different policy regimes from 1986 to 2022. The study seeks to assess how exchange rates, capital stock, and policy shifts influenced economic growth during the Structural Adjustment Program (SAP) era and the gradual trade liberalization period. Methods: The linear regression model was employed with data sourced from the Central Bank of Nigeria publications and the National Bureau of Statistics. The Augmented Dickey-Fuller (ADF) test is used to test variable stationarity, and the Markov Switching Regime model captures the effects of policy shifts on economic growth. Results: In the first regime (SAP era), exchange rate and capital stock had a significant positive impact on economic growth, while trade liberalization showed a negative but insignificant effect. In the second regime (gradual trade liberalization), capital stock maintained a positive effect, but both trade liberalization and exchange rates had a significant negative impact. Conclusion and suggestion: The findings suggest that trade liberalization has had a generally negative impact on Nigeria's economic growth, particularly during the gradual liberalization period. To promote growth, policymakers should reconsider the export promotion strategies that enhance domestic production.
Co-Authors Adeniwura, Oluwatoba Oyedele Ajayi, Felix Odunayo Balogun, Adewale Musliudeen Maku, Olukayode Emmanuel Ogede, Jimoh Sina Onanuga, Abayomi Toyin Oshinowo, Bamidele Olaitan