The study critically analyzed the dynamic and simultaneous inter-relationship between inflation and its determinants in Nigeria between 1970 and 2007. The time series variables properties were examined using the Augmented Dickey Fuller (ADF) unit root test and the result reveals that inflation rate, growth rate of real output and money supply, and real share of Fiscal deficit are stationary at levels, while other incorporated variables in the empirical analysis-real share of Import, Exchange rate and Interest rate-are stationary at first difference. The long-run and short-run mechanism of interaction between inflation and its determinants were examined usig the Augmented Engle-Granger (AEG) cointegration test and Error Correction Mechanism (ECM) model respectively.
<p>Foreign aid represents an important source of finance in most countries in Sub-Sahara Africa (SSA), including Nigeria, where it supplements low savings, narrow export earnings and thin tax bases. In fact, foreign aid is considered to be a major supplement to government expenditure in Nigeria. As a result, foreign aid can have positive effect on economic growth, through public expenditure if properly channeled to the productive sectors of the economy. This paper therefore seeks to investigate the impact of foreign aid and public expenditure on economic growth in Nigeria. It reveals that foreign aid and public expenditure impact positively on the economic growth in Nigeria, with foreign aid indicating a very significant impact on growth.</p>
Existing studies have shown that income inequality remains a core determinant of population health. These findings are in line with the Income Inequality-Health Hypothesis (IIHH). However, this assertion remains unclear for Sub-Saharan Africa (SSA), despite the rising trend of income disparity in the region and the vastness of the studies that tested the validity of the IIHH. This inferential study, therefore, examines the effect of income inequality on health for 31 Sub-Saharan African countries from 1995 to 2015 using life expectancy at birth, infant mortality rate, and under-five mortality rate as indicators of population health, as well as the Gini index as a measurement of income inequality. The study employed the Generalized Method of Moments (GMM). We infer that income inequality contributes significantly to poor population health in Sub-Saharan Africa, thereby affirming the validity of the Income Inequality-Health Hypothesis for the region.
Sub-Saharan Africa (SSA) ranks as the second most unequal region globally (in terms of income distribution), harboring 10 of the 19 most unequal countries in the world. This paper explores the channels through which income inequality exerts its effects on economic growth in SSA. The study spans the period 1995–2015, focusing on 31 SSA countries. Findings from the two-step system generalized method of moments suggest that income inequality exerts a significant positive effect on economic growth via the saving transmission channel, while it has a statistically significant negative effect on economic growth in the region through the channels of fertility, credit market imperfection, and fiscal policy.
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