Department of Economics

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https://repository.run.edu.ng/handle/123456789/64

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Browsing Department of Economics by Author "Adeleke, Oluwayemisi Kadijat"

Now showing 1 - 9 of 9
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    Asymmetric Effect of Fiscal and Monetary Policies on the Stock Market Performance in Nigeria
    (2021-02-25) Adeleke, Oluwayemisi Kadijat
    This study investigated the asymmetric effect of fiscal and monetary policies on stock market performance from 2000:q1-2018q3 in Nigeria. The study used Auto Regressive Distributed Lag (ARDL) Bounds Test technique of cointegration to determine the equilibrium relationship among the series. After the long run relationship has been established, Vector Error Correction Model was used to analyse the data. The results showed that only anticipated fiscal policy had a negative and significant effect on the stock market performance in the third and fourth quarters of the year. In contrast, anticipated and unanticipated monetary policy as well as unanticipated fiscal policy did not exert effect on stock market performance in Nigeria. Government in Nigeria should reduce its expenditure which has the capacity to negatively influence the performance of stock market in Nigeria.
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    Can Non-Oil Exports boost Agriculture Sector Performance in Nigeria? A Tale for Oil Independency
    (2013) Adeleke, Oluwayemisi Kadijat
    The study examines the effect of non-oil export on the agricultural sector performance in Nigerian economy using empirical evidence and modern research analysis. The bulk of non- oil export of Nigeria comes from agriculture and pre-processed products. Hence, non-oil export from perspective of efficiency-seeking indicates that non-oil export always aim at taking advantage of poor-efficient production condition and boost the productive edge of resources. There is a general believe that non-oil exports commodities has nothing to do with sectoral growth in Nigeria, this role is therefore the major focus of this study. Modern econometric analysis is used to validate if there is any relationship between non-oil export and sectoral performance, we also conducted unit root test to detect the risk of non stationarity of any of the variables involve in the model specified. Having tested for unit root, the paper also considers cointegration test and a parsimonious result of the least square estimate is presented. Lastly, a causality analysis of the relevant variables was undertaken in order to verify the relevance of non-oil export on growth in Nigeria. Interestingly, non-oil export commodities fail to enhance growth of the economy in recent findings, while agriculture, openness and exports promote growth in both the short and long run in our dear country
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    Dynamics of Manufacturing Sector Development and Youth Unemployment in Africa
    (2021-07) Adeleke, Oluwayemisi Kadijat
    The study examined the effect of manufacturing sector development on youth unemployment in Africa. The study made use of 33 African countries within the time frame of 2000-2018. Data was sourced from the world development indicators by the World Bank. The estimation technique used was the Panel Autoregressive Distributed lag which deals with the stationary series problem of different orders and allows us to study potential long term effects of structural economic policies. The variables used were in natural logarithms and they are Youth Unemployment, Manufacturing Value Added, Foreign Direct Investment, Gross Capital Formation and Domestic Credit to Private Sector. The result revealed a positive long run relationship among MVA, DCP FDI, GCF and YUEMP. In the short run, MVA and DCP showed a positive relationship to youth unemployment while FDI and GCF showed a negative relationship. The study recommended that to curb the menace of youth unemployment ravaging major African Countries, policy focal point should be directed towards the development of manufacturing sector, conducive economic environment to attract foreign direct investment, policies should be put in place to enhance capital formation with domestic credit being made available for new and existing entrepreneurs and industrialist.
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    Effectiveness of Financial Market as Economic Development Agents in Africa
    (2019-10-25) Adeleke, Oluwayemisi Kadijat
    The development in Africa’s financial sector in recent years has been remarkable. Though relatively underexplored and underinvested sector a mere decade ago, today, this sector is considered to be one of the continent’s brightest prospects. This is due to the fact that for some time now, financial sector development has been on front burners in the economic agenda of most African countries. This sector has the potential to transform the lives of millions of people across the continent. Low rate of economic development has created a lot of social stress in Africa, which is responsible for incidence and prevalence of poverty, and consequent social uprisings on a number of occasions. Various studies have examined the role of African financial market development on economic growth, but none have strictly generated a combined focus on the three major African groupings – the Southern, the Western and the Eastern African regions. This paper specifically address this void and it examines the determinant and impact of banking sector and stock market development on Africa’s economic growth and development. Various econometric techniques that include descriptive statistics, unit root tests and OLS were used to analyse data. The study finds out that local financial markets play crucial roles in economic development of Africa, albeit in varying magnitude. The study also observes that banking sector development and economic growth promote stock market development. In addition, this paper finds an interesting result in the fact that trade openness has a negative impact on stock market development, which is different from the findings of many other studies. Financial market size is also strongly related to the size of the economy. This paper has some policy implications. In order to promote banking and stock market development in the region, it is important to encourage savings by appropriate incentives, consider the possibility of one single currency for African countries in order to improve stock market liquidity and develop financial intermediaries. This paper shows an in-depth analysis of Africa financial markets in order to assess how they can improve and benefit the global investor. In addition, it is found that financial intermediaries and stock markets are complements rather than substitutes in the growth process.
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    Financial Openness and Poverty Level: The Empirical Investigation in Nigeria
    (2021-02) Adeleke, Oluwayemisi Kadijat
    This study examined the effect of financial openness on poverty level in Nigeria from 1981 to 2018, using Autoregressive Distributed Lag (ARDL) technique. The study found that the lagged value of poverty has a positive and significant relationship with itself. This buttresses the point that poverty in the previous period’s filters directly into the present period. Again, the study found that financial deepening has an inverse and significant effect on poverty, while financial openness was found to have a positive and significant impact on poverty. Finally, the lagged value of growth rate, investment, inflation and institutional quality has an inverse and significant effect on poverty.
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    Government Borrowing, Infrastructure, Human Development and Economic Growth in Africa: A Panel Threshold Approach
    (2021) Adeleke, Oluwayemisi Kadijat
    In this paper, we examined the effect of external borrowing on infrastructure, human development and economic growth in Africa. Using the panel threshold regression, we explored whether the threshold effect that often characterize the debt-growth nexus also applies to key drivers of economic growth, inequality and sustainable development such as infrastructure and human development. Data for the study covered the period 1990 to 2019 for 49 countries in Africa. Findings showed non-existence of a threshold effect between external public debt and infrastructure as well as human development. Finding from the fixed effects model for infrastructure and HDI showed insignificant effect of external borrowing on the index of infrastructure and significant negative effect on human development. The result support literature evidence of a threshold effect between borrowing and economic growth. Findings suggest less allocation of borrowed funds to improvement in infrastructure and use of deficit financing in areas that are not targeted at improving human devilment. Policy directive in this regard has implication for income potential, debt repayment and sustainable development.
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    Green Human Resource Management (Ghrm) and Sustainable Development in a Less Privileged Economy: Empirical Clarification from Nigeria
    (2021-07) Adeleke, Oluwayemisi Kadijat
    The Study Investigated The Effect Of Green Human Resource Management (GHRM) On Sustainable Development In A Less Privileged Economy With Empirical Clarification From Nigeria. The Study Sought To Determine The Impact Of Green Trainings And Development On The Nigerian Economy, Also, The Study Investigated The Impact Of Green Compensation Structure On The Sustainable Development On The Nigerian Economy. A Cross-Sectional Study Of Both Descriptive And Inferential Statistics Was Conducted Among Employees Of Different Companies In Nigeria. The Investigation Revealed That Green Trainings And Development, As Well As A Green Compensational Structure, Had A Substantial Impact On The Nigerian Economy's Sustainable Development. The Study Showed That Green Training And Development Practices Influences Sustainable Development In The Nigerian Economy, And Green Remuneration Structure Improves Supportable Advancement In The Economy More Relations Of Green Representative Have Feasible Advancement In Nigerian Economy. The Researcher Recommended That The Green Lifestyle Of The Employee Helps With Their Job Results Positively And Should Therefore Be Taken As A Priority By The HR Of Various Organizations
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    Growth Elasticity of Poverty in Nigeria: Empirical Analysis
    (2021-12) Adeleke, Oluwayemisi Kadijat
    This Study examined growth elasticity of poverty in Nigeria, using elasticity procedure with data from the 2020 world bank world development indicators and nigerian national bureau of statistics(2020), covering the period 1992 to 2019. the findings showed 77.1% of the GEP coefficients as positive; signifying failure of economic growth to alleviate poverty in the country. it is therefore imperative for Nigeria to initiate and implement policies covering employment generation, good governance, reduction in all forms of inequalities, functional education, among others for growth to engender poverty reduction among the citizens.
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    Realities Versus Rhetorics: Focus Shift in Investment Decisions on the Capital Market
    (2019) Adeleke, Oluwayemisi Kadijat
    This study focuses on investigating whether historical accounting data (fundamental analysis) can be totally responsible for stock performance and companies return on the Nigerian Stock Exchange. It portrays the extent to which shareholders of listed firms are influenced by various criteria in their investment decisions including reliance on the companies’ annual financial reports provided by the accounting system. The paper tries to show the impact of Behavioural finance in Nigeria Stock Market. This paper use indicators from different areas of financial Statements and Market Capitalisation such as; profitability, EPS, Book and Market value of equity, and Share prices. Also primary data from investors and stake-holders in the market was collected. Data were selected for five year period from 2013 to 2017. The sample of the study consists of five different sectors of companies listed on Nigerian Stock Exchange having five years consecutive data available. For data analysis the study used Pearson correlation technique. The study noted investors’ limited knowledge and understanding of published accounts, which consequently placed limitation on its usefulness to inform their investment decisions. The study therefore concluded that fundamental analysis alone cannot predict stock returns nor determine investors’ decision of the Nigerian listed companies. It was discovered that though relegated to the background, behavioural biases has profound significant relation with Nigerian stock market performance and listed companies on the stock exchange, hence influence investors’ decision.