This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Angola, Libya, and Nigeria. Three different kinds of oil price data were applied in this study: the actual spot oil price of individual countries, the OPEC reference basket oil price, and an average of the Brent, WTI, and Dubai oil price. Autoregressive distributed lag (ARDL) dynamic panels were used to estimate the short- and long-term impacts. Also, we partitioned the oil price into positive and negative changes to capture asymmetric impacts and found that both the positive and negative oil price changes positively influenced inflation. However, the impact was found to be more significant when the oil prices dropped. We also found that the money supply, the exchange rate, and the gross domestic product (GDP) are positively related to inflation, while food production is negatively related to inflation. Accordingly, policy-makers should be cautious when formulating policies between the positive and negative changes in oil prices, as it was shown that inflation increased when the oil price dropped. Additionally, the use of a contractionary monetary policy would help to reduce the inflation rate. Lastly, we suggest that the government should encourage domestic food production, both in quantity and quality, to reduce inflation.

This article investigated the impact of human capital and technology on economic growth in Nigeria. We employed annual time series data for the period of 35 years and applied autoregressive distributed lag approach to cointegration to examine the relationship between human capital, technology, and economic growth. Two proxies of human capital (secondary and tertiary school enrollments) were used in two separate models. The cointegration result revealed that all the variables in the two separate models were cointegrated. Furthermore, the results of the two estimated models showed that human capital in form in secondary and tertiary school enrollments have had significant positive impact on economic growth. More so, technology also shows significant positive impact on economic growth. In a nutshell, both human capital and technology are important determinants of growth in Nigeria. Therefore, improvement of the educational sector and more funding for research and development (R&D) to encourage innovations are needed to facilitate Nigeria's sustained economic growth.

This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Angola, Libya and Nigeria. Three different oil price data were applied in this study; the specific spot oil price of individual countries, the OPEC reference basket oil price and an average of the Brent, WTI and Dubai oil price. The dynamic panels ARDL were used to estimate the short and the long-run impacts. Also, this study partitioned the oil price into positive and negative changes to capture asymmetric impacts and found both positive and negative oil price changes positively influenced inflation. However, the impact was found to be more significant when oil prices dropped. The results from the study also found that money supply, the exchange rate and GDP are positively related to inflation while food production is negatively related to inflation. Accordingly, policymakers should be cautious in formulating policies between the positive and negative changes in oil prices as it was shown that inflation increased when the oil price dropped. Additionally, the use of contractionary monetary policy would help to reduce the inflation rate, and lastly, it is proposed that the government should encourage domestic food production both in quantity and quality to reduce inflation.

This research explores the impact of population growth, poverty and unemployment on economic growth in Nigeria using Auto Regressive Distributed Lag (ARDL). The study employed an econometric procedure; unit root test which involved the use of Augmented Dickey Fuller test (ADF) and Phillip-Perron test (PP). The cointegration test technique used in the study is Auto Regressive and Distributed Lag (ARDL). The study variables are real GDP, population, poverty, unemployment and foreign direct investment has control variable. The null hypothesis stated that there is presence of a unit root was failed to be rejected at levels but rejected at first difference according to the two tests (ADP and PP) employed. The study found that some of the variables are stationary at level I(0) while others are stationary at first difference I(1).The results of the cointegration test showed that there exist cointegrating equation between explanatory variables and economic growth. The ECT speed of adjustment to the normal equilibrium confirms their long run relationship of the variables. Finally, the study found that population and FDI have a positive impact while poverty and unemployment has negative impact on GDP. Based on these findings recommend that policy makers should grow the real economic sectors to improve and enhance productivity, exports, job creation, curb inflation and reduce poverty and rapid economic growth and substitute the non-productive imports with domestic products and develop enabling environment to attract foreign private investors.

This research tries to investigate the impact of population growth on energy generation in Nigeria using Auto Regressive Distributive Lag (ARDL). The study employed an econometric methodology involving the use of unit root test, cointegration test technique. The study use of different source of electricity production in Nigeria such as hydro power source (HPS), natural gas source (NGS), oil and coal sources (OCS) , as dependents variables which were regress against population and real gross domestic product (GDP) as explanatory variables which altogether serve as determinants of energy generation. The ARDL Bound test reveals that both the three equations under studies are cointegrated. Consequently, the study finds that the long run and short run dynamics of the variables involved. From the long run coefficients the study found that population growth has a positive and significant impact on energy generation from natural gas source, oil and coal source but negative impact on hydropower sources. Based on these findings some recommendations were made, Nigeria government should adequately project the growing rate of population in advance so as to generate volume of energy that will cater for the population so as to avoid the risk of energy shortage in Nigeria.

This empirical analysis intends to examine the asymmetric response of economic growth when the oil price changes in Malaysia by applying threshold autoregressive (TAR) and momentum threshold autoregressive (MTAR) cointegration and asymmetric adjustment models. The results revealed that the oil price has an asymmetric impact on Malaysian economic growth. We found that when oil price increases this accelerates economic growth; however, the speeds of adjustment back to the steady position were insignificant. When the oil price dropped, oil price significantly and negatively affects economic growth for a period of time and then returns back to its normal position. The results revealed that Malaysian economic growth constantly benefits when the oil price increases and is temporarily negatively affected when oil prices drop. The results have important policy implications. This suggests that it is essential to the policy makers to consider different policy responses for hikes and drops in oil prices. The result implies that negative oil price shock would lower economic growth, however it is temporary. Therefore, policy makers might response by implementing expansionary monetary policy to stimulate economic growth. The explanation is intuitive. For example, an increase in the money supply would normally pull down the interest rate which would further encourage consumption and investment, stimulate economic growth, which would increase oil demand and push up its price.

This study broadly seeks to analyze the effect of monetary policy on the performance of deposit money banks in Nigeria. This research was based on secondary source of data extracted out from Central Bank of Nigeria (CBN) statistical bulletin and Index mundi. The Autoregressive Distributed Lag (ARDL) approach to cointegration was applied to achieve the objective. The empirical results revealed that both in the long run and short run, bank lending rate (BLR) has been found to have a significant positive impact on banks loans and advances (BLA), This means that (BLR) has significant positive impact on the performance of deposit money banks in Nigeria. While liquidity rate (LR) has significant impact in the long run but has no significant impact in the short run likewise interest rate (IR) has no significant impact in the long run but in the short run has significant and positive impact on the performance of deposit money banks. The study concluded that increasing the interest rate can equally lead to improve performance in the short‐run as this can motivate customers to save more but this effect will neutralize in the long‐run. The study recommends that the central bank of Nigeria should redefine its monetary policy instruments to make them more attractive to the banks. This will make banks to embrace them beyond mere.

The impact of various macroeconomics variables on trade deficit has been studied in large OPEC (e.g., United Arab Emirates and Kingdom of Saudi Arabia); however other African countries are still needed to be studied. This study uses the transmission oil price (OP) changes to various economic sectors to examine the threshold effects of OP and oil export on trade balance in African OPEC members (Algeria, Angola, Libya and Nigeria). This study applied Pedroni cointegration test to establish the cointegration relationship among different macroeconomics variables by using three different proxies of OP. The dynamic panel models were used to examine the long-run impact of OP changes and threshold analysis. The study found that increase in OP and oil export positively encouraged import while exchange rate depreciation is significantly discouraged import. The study found that the threshold effect of oil export on the trade balance, when oil export is above a certain threshold, the impact is higher than below threshold. The aforementioned countries have to take into account that there is a threshold level and can increase oil export to improve the trade balance.