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Journal of Social Sciences and Economics
Published by ASHA Publishing
ISSN : -     EISSN : 30475007     DOI : https://doi.org/10.70188/vw1hry94
Core Subject : Economy, Humanities, Science, Social,
Humanities Economics, Econometrics & Finance Environmental Science Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences
The Journal of Social Science and Economics (JOSSE), is a peer-reviewed scientific journal that publishes research findings, conceptual studies, and literature reviews in the multidisciplinary fields of social sciences and economics. This journal provides an academic platform for scholars, researchers, and practitioners to share ideas, theories, and empirical findings that contribute to understanding human life, society, and economic systems in a global context. Journal of Social Science and Economics (JOSSE) welcomes manuscripts covering, but not limited to Social Sciences, Economics and Develompment Studies, Interdisciplinary and Contemporary Issues, JOSSE encourages submissions that integrate multiple disciplines, explore the interaction between social and economic systems, and contribute to the advancement of human welfare and sustainable development.
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Articles 2 Documents
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Search results for , issue "Volume 3, Issue 1, April 2026" : 2 Documents clear
Financial Development, ATM Penetration, and Economic Growth in West African Economies Ezewulu, Anastesia Uzonna; Vivian C. Onyejegbu
Journal of Social Science and Economics (JOSSE) Volume 3, Issue 1, April 2026
Publisher : Asha Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70188/q13gg520

Abstract

Despite sustained efforts to deepen financial systems in West Africa, economic growth outcomes have remained uneven, raising concerns about the effectiveness of financial development initiatives such as ATM expansion and credit provision to the private sector. Against this background, this study examined the relationship between financial development, ATM penetration, and economic growth in selected West African economies. The methodology is anchored on the extended Solow–Swan growth framework developed by Mankiw, Romer, and Weil, which incorporates human capital into economic growth analysis. The study specifies economic growth as a function of physical capital, human capital, financial development, and control variables, using a dynamic panel model. Data covering 16 West African countries (2004–2023) were analyzed with the System GMM estimator to address endogeneity and heterogeneity. Pre-estimation and post-estimation diagnostics ensured robustness, while variables were sourced from the World Bank, WGI, and UNDP databases. The correlation results show no severe multicollinearity, with pairwise coefficients generally below 0.80, except for RGDP–GFCF (0.8568). Cross-sectional dependence tests are significant (Pesaran = 3.409, p = 0.0007; Friedman = 41.567, p = 0.0001), justifying time effects in estimation. System GMM results indicate strong growth persistence, as lagged LOGRGDP is positive and significant (β = 0.994, p < 0.01). ATM spread negatively affects growth (β = −0.0054, p < 0.05). Domestic credit to the private sector is insignificant (β = −0.0004, p > 0.10). AR(2) (p = 0.435) and Hansen (p = 0.391) confirm model validity. Diagnostic tests confirmed instrument validity and model adequacy. The study concludes that financial infrastructure expansion alone is insufficient to drive growth without efficiency-enhancing reforms.
Impact of Corporate Income Tax and Value-Added Tax Revenue on Economic Growth in Nigeria: Evidence from an ARDL Bounds Testing Approach Okpalanwabude, Ifeoma Florence
Journal of Social Science and Economics (JOSSE) Volume 3, Issue 1, April 2026
Publisher : Asha Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70188/78abvv58

Abstract

Nigeria relies heavily on tax revenues, particularly Corporate Income Tax (CIT) and Value-Added Tax (VAT), to fund public expenditure and drive economic growth. However, persistent debates exist regarding the effectiveness of these taxes in stimulating national output, with some studies reporting positive impacts while others suggest negligible or negative effects. This study employed an Autoregressive Distributed Lag (ARDL) framework to examine the impact of corporate income tax revenue and value-added tax revenue on economic growth in Nigeria, controlling for real interest rate and labour force participation. The ARDL bounds testing approach was used to test for long-run cointegration and short-run dynamics among the variables. Where cointegration existed, an error correction model captured both long-run equilibrium and short-run adjustments. Pre-estimation tests included unit root and bounds tests, while post-estimation diagnostics assessed autocorrelation, heteroskedasticity, multicollinearity, and model stability using CUSUM and CUSUMSQ. The findings indicate considerable variability in Nigeria’s macro-fiscal indicators over 1994–2023, with corporate income tax (mean = ₦784.94 billion; SD = ₦1,018.90 billion) and VAT revenue (mean = ₦711.63 billion; SD = ₦927.35 billion) showing high volatility and non-normality (JB = 91.09; 78.64). Unit root tests reveal mixed orders of integration [I(0) and I(1)], validating ARDL use. Bounds testing confirms cointegration (F = 3.66 > 3.49). Long-run results show corporate income tax positively affects growth (β = 0.308, p < 0.01), while VAT has a negative effect (β = –0.00006, p < 0.05). Short-run adjustment occurs at 43%. The error correction term (0.43) suggests a moderate adjustment speed toward equilibrium. In conclusion, improving corporate tax collection and administration can stimulate economic growth, while VAT policies require careful calibration to avoid unintended contractionary effects.

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