The importance of the financial sector in any economy cannot be overemphasized given the relationship between the sector and the rest of the economy. In the era of globalization, efficient financial sector are essential to attract gains from the world market, and as well insulate the domestic economy from external shocks. The financial system could also respond to the domestic economy. Furthermore, the importance of financial institutions in generating growth within the economy has been wi... read more

Industrialization is regarded as a central object of economic policy in most developing economies. They see industrialization and agriculture as an integral part of development and structural change. Some economic analyst are of the view that industries play a vital role in the economic growth and development of any country. In this research work, effort is made to analyze the impact of the industrial sector to the economic development of Nigeria. Generally, the industrial revolution which t... read more

The monetary policy of a country deals with control of money stock (liquidity) and therefore interest rate; in order to influence such macro economics variables as inflation, employment, balance of payment, aggregate output in the desired direction. There is no standard and ideal structure of monetary policy target and instrument, the instrument varies from country to country, depending on the size and stage of development of the financial market. Over the years, the objective of monetary pol... read more

Government revenue refers to the revenue received by a government to finance its operations and development projects. It is an important tool of the fiscal policy of the government as it facilitates government spending (OECD, 2008b). Governments need to perform various functions in the field of political, social and economic activities to maximize social and economic welfare. In order to perform these duties and functions government require large amount of resources. These resources are called P... read more

The Nigerian economy slipped into recession in the second quarter of 2016 which has recorded two consecutive quarters of negative growth rate in Gross Domestic Product. Available data from CBN and NBS report (2016) show that the Nigeria economy contracted by -2.06 percent in the second quarter of 2016, as a result of a contraction of -0.36 percent in the first quarter. By the fourth quarter of 2016, the economy further sank into recession with -2.24 percent and -1.03 percent in the growth rate o... read more

Nigeria gained an extra US$390 billion in oil-related fiscal revenue over the period 1971 - 2005 (Budina and Wijnbergen, 2008). What has the nation got to show for this? Despite such windfall, Nigeria has an increasing proportion of impoverished population and experienced continued stagnation of the economy (Okonjo-Iweala and Osafo-Kwaako, 2007). The country, like many other oil-rich countries (ORCs) economically underperforms many resource poor countries (Karl, 2004). Her oil wealth has not bee... read more

The issue of unemployment on youths can not be overemphasized like (2009), posited that ‘Nigeria as a country is often described as a rich country majority of poor citizen where 50% of the citizen live below poverty level. Unemployment has been a problem in Nigeria especially since 1980’s when the nation economy took a turn for the worse as a world petroleum price tumbled the Nigeria currency became devalued corruption became rampant and the population of Nigeria ballooned at a breathtaking... read more

Gender is a social construction and codification of differences between the sexes and social relationship between women and men (Oppong 1987, Mason 1984). The fundamental contributions of women in their households and national economies are increasingly acknowledged in Nigeria and by international community mainly because of their energetic efforts to organize, articulate their concerns and make their voices heard. At both grassroots and national levels, more women associations are taking advant... read more

The recent evolution of technology for financial transactions poses interesting questions for policy makers and financial institutions regarding the suitability of current institutional arrangements and availability of instruments to guarantee financial stability, efficiency and effectiveness of monetary policy. Over the course of history, different forms of payment systems have been in existence. Initially, ‘trade by barter’ was common; however, the problems of barter such as the double coi... read more

Population in a developing country such as Nigeria is growing at a historical unprecedented rate. In the world over, the possible differences between number of people and world food production brings to resurrect the Malthusian hypothesis that long-run equilibrium consumption lies on higher than at the subsistence level. For individual countries or regions, the arithmetic observation that greater number of mouths to feed means lower consumption for each has won some supporters. More advanced vie... read more

Financial system has long been recognized to play an important role in economic development. The benefit derivable from a healthy and developed financial system relates to savings mobilization and efficient financial intermediation roles. In terms of financial intermediation between savers (lenders) and borrowers such benefits include; spreading risk, reduction of transaction and search costs. Financial institutions create liquidity in the economy by borrowing short-term and lending long-term. T... read more

Government expenditure no doubt is an important instrument for a government to control the economy of a nation Economists have been well aware of the effects in promoting economic growth Anyway, the general view is that government expenditure notably on social and economic infrastructure can be growth enhancing although the financing of such expenditure to provide essential infrastructural facilities including transport, electricity, telecommunication, water and sanitation, waste disposal, educ... read more

This study empirically examined the impact of external trade on economic growth of Nigeria between the period 1980-2013. The study employed Ordinary least square (OLS) regression technique to analyze the data obtained from the CBN statistical bulletin for the relevant years under study. The empirical results were on Augmented Dickey Fuller test. In the second step, Johansen co-integration test was conducted. The presence of long run equilibrium found led to the use of Vector Error Correction Mod... read more

The financial sector of any economy in the world plays a vital role in the development and growth of the economy. The development of this sector determines how it will be able to effectively and efficiently discharge its major role of mobilizing fund from the surplus sector to the deficit sector of the economy. This sector has helped in facilitating the business transactions and economic development (Aderibigbe, 2004). A well-developed financial system performs several critical functions to enha... read more

The most critical function of government expenditure is to maintain reasonable degree of price level stability and an appropriate stable economic growth that will enhance the economy to achieve full development potential and stabilization (Musgrave, 1989). Economic stabilization is achieved when government spending, through its fiscal role succeeds in maintaining high employment, reasonable degree of price level stability and appropriate rate of economic growth, with allowances for positive eff... read more

E-commerce is viewed as the electronic means of production, distribution, marketing, sale or delivery of goods and services .According to (Baker & McKenzie 2001 cited Kaynak et al 2005). Shultz & Baumgartner (2001) e-commerce is viewed as the buying and selling of products, services and information via computer networks”. Globerman et al (2001 cited Kaynak et al 2005) also states that ecommerce involves the contractual agreement between the buyer and the seller and conclusion of that agreemen... read more

The bond market constitute a financial market for the issuance of where new debt known as the primary market and the purchase and sale of debt securities referred to as the secondary market. The debt traded is in the form of bonds but it may include notes, bills, and so on. It is essentially meant to provide for long-term funding for public and private expenditures. The bond markets constitute a part of the credit market, with bank loans constituting the other main component. The global ... read more

Over the past years, scholars have debated on whether the informal sector should really be seen as a marginalized sector, which mops up excess or entrenched workers or as a vibrant, entrepreneurial part of the Nigeria economy which can stimulate economic growth and job creation. It should be noted that around the world, about two-thirds of all employees work in the informal sector (World Bank, 2009) cited in Atal et al 2013: 34). Informal sector constitutes a significant segment of the Nigerian ... read more

Microfinance constitute the facilitation of financial services to meet the needs of low income individuals such as micro-entrepreneurs, through the provision of small loans (microloans), small savings deposits (micro-savings), micro-insurance and enhancing simple payments services required by micro-entrepreneurs and economically active poor people who cannot gain access to financial services provided by the formal banking sector.(USAID, 2000). The loans provided are small in amount and d... read more

Aviation has become an integral part of the socioeconomic life of the country. According to Igbatayo and Igbinedion (2014: 1), the aviation industry can be defined as those activities that relate directly to transporting people and goods by air from one place to another. The industry comprises various activities such as airline and transport operations, general aviation aircraft maintenance, scheduled and chartered flights for passengers and freight, as well as air traffic control and regulation... read more