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All Journal Signifikan : Jurnal Ilmu Ekonomi SRIWIJAYA JOURNAL OF ENVIRONMENT
Jimoh Sina Ogede
Olabisi Onabanjo University
Agriculture, Biological Sciences & Forestry Economics, Econometrics & Finance Energy Environmental Science Public Health

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Does Oil Price Volatility Drive Household Consumption Expenditures in Nigeria? Jimoh Sina Ogede
Signifikan: Jurnal Ilmu Ekonomi Vol 9, No 2 (2020)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v9i2.15498

Abstract

This paper investigates whether volatilities in oil prices influence consumer household consumption expenditure from 1995 to 2019, a period described in the literature by the weakening effect of oil price volatility on macroeconomic factors. The Vector autoregressive model's findings suggest that the unexpected changes in oil prices significantly influence household consumption expenditure in Nigeria. A one standard deviation unexpected for a change in oil prices corresponds to a 28.31 percent increase in Nigeria's consumption expenditure. Moreover, the decomposition of the variance did not affect the sign and significance of the household relationship between oil price volatility and consumption expenditure. The paper offers that the extent to which dependence on oil continues depends on the magnitude to which Nigeria's economies can continue developing alternative energy sources and improving energy conservation.JEL classification: D15, Q43 How to Cite:Ogede, J. S. (2020). Does Oil Price Volatility Drive Household Consumption Expenditures in Nigeria? Signifikan: Jurnal Ilmu Ekonomi, 9(2), 257-268. https://doi.org/10.15408/sjie.v9i2.15498.
Gauging the Impact of Openness on Sustainable development in Nigeria: Evidence from FM-OLS and ARDL approaches to Cointegration Jimoh Sina OGEDE; Hammed O Tiamiyu
Sriwijaya Journal of Environment Vol 7, No 1 (2022): LAW AND SUSTAINABLE RESOURCES
Publisher : Program Pascasarjana Universitas Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22135/sje.2021.7.1.33-40

Abstract

This paper considers the nexus between trade openness and sustainable development in Nigeria from 1996 to 2019 by employing Fully Modified Least Square (FMOLS) and Autoregressive Distribution Lags (ARDL) techniques. Our results suggest that trade openness has a significant positive impact on sustainable development and is Nigeria's economic pillar of sustainability. The paper also reveals a significant disparity in magnitude and sign of the parameters when ARDL is used. In the long run, openness to trade has a significant positive impact on sustainable development in Nigeria, implying that an increase in trade openness will improve sustainable development in Nigeria. The effect of the age dependency ratio is insignificant inverse, showing that it does not affect sustainable development. Furthermore, in the short run, except for trade openness and age dependence ratio that has a significant effect, all other independent variables are not statistically significant. The paper concludes that trade openness positively impacts sustainable development in Nigeria. The paper's hypothesis is likely to trigger a fresh conversation on how to promote sustainable development and so mitigate environmental risks.
Co-Authors Hammed O Tiamiyu