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All Journal Economic Journal of Emerging Markets Journal La Bisecoman
Amalachukwu Chijindu Ananwude
Department of Banking and Finance, Nnamdi Azikiwe University, Anambra State, PMB 5025, Awka, Nigeria
Economics, Econometrics & Finance

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Journal : Journal La Bisecoman

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Public Sector Financial Management and Economic Growth Sustainability in Nigeria: 1986 to 2020 Felicia Akujinma Anyanwu; Amalachukwu Chijindu Ananwude
Journal La Bisecoman Vol. 2 No. 6 (2021): Journal La Bisecoman
Publisher : Newinera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/journallabisecoman.v2i6.546

Abstract

The Nigerian experience with public sector finance management demonstrates fiscal irresponsibility. In Nigeria, the public sector is comprised of the Federal, State, and Local governments, as well as parastatals and organizations that provide public goods and services. Nigeria's public sector, with its diverse financing sources, plays a critical role in economic management via the creation and execution of economic policies, efficient budgeting and planning targeted at attaining domestic and external balancing goals. The purpose of this research was to determine the influence of public sector financial management on the sustainability of economic development in Nigeria. The research examined the influence on real gross domestic product of total federally collected income and total government spending. The Autoregressive Distributive Lag (ARDL) technique was used to analyze data spanning the years 1986 to 2020. To begin, the findings indicate that there is no long-run association between public sector financial management and the sustainability of economic development in Nigeria. Second, overall federal revenue was shown to have a positive association with real gross domestic product. Thirdly, public sector financial management has no discernible influence on the sustainability of economic development in Nigeria. This report recommends that the ideal of sound public sector financial management be embraced in order to strengthen the sustainability of economic development in Nigeria via an effective, efficient, and transparent public account management system.
Foreign Direct Investment and Economic Growth: Empirical Assessment of the Nigerian Economy (1986 – 2019) Chinedu Maurice Umezurike; Amalachukwu Chijindu Ananwude; Patrick Amaechi Mbanefo
Journal La Bisecoman Vol. 2 No. 6 (2021): Journal La Bisecoman
Publisher : Newinera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/journallabisecoman.v2i6.547

Abstract

The purpose of this study is to examine the impact of foreign direct investment on the growth of the Nigerian economy. The Autoregressive Distributive Lag (ARDL) technique was used to analyze data spanning the years 1986 to 2019. The preliminary findings of the ARDL suggested that foreign direct investment and economic development in Nigeria had a long-run link. According to the stated finding, foreign direct investment has a considerable positive link with the rate of real gross domestic product growth. Similarly, total exports are positively correlated with the pace of real gross domestic product growth. On the other hand, total non-oil imports and exchange rates show a considerable negative association with the pace of real GDP growth. The Granger causality test indicated that foreign direct investment inflows into Nigeria had no discernible influence on the growth rate of real gross domestic product throughout the study period. Similarly, the pace of real gross domestic product growth is not greatly impacted by the quantity of total exports, total non-oil imports, or exchange rate fluctuations. This report suggested that trade obstacles be removed, particularly those imposed by customs and port officials. Structural trade-oriented policies should be implemented to stimulate economic growth in Nigeria through increased exports in order to attract additional investors and strengthen the country's output growth rate.
Co-Authors Andrew Izuchukwu Nnoje Chinedu Maurice Umezurike Felicia Akujinma Anyanwu Gideon Kasie Ezu Patrick Amaechi Mbanefo Sarah Elechi Jeff-Anyeneh