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Journal articles on the topic 'Johansen Co-Integrating Test'

Author: Grafiati

Published: 2 June 2025

Last updated: 31 July 2025

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1

KUMAR, VINAY, S. K. GOYAL, and AJAY KUMAR. "A research study on market integration of cotton (Gossypium spp.) prices in various markets of Haryana." Indian Journal of Agricultural Sciences 94, no. 11 (2024): 1253–56. http://dx.doi.org/10.56093/ijas.v94i11.151925.

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The study examined the market integration of cotton (Gossypium spp.) prices across various markets in Haryana. Monthly time series data on cotton prices were collected from 2005–06 to 2021–22 from published sources such as the Agricultural Produce Market Committees (APMC) and the Cotton Corporation of India (CCI). To analyse market integration among the selected cotton markets, various techniques were employed, including the Granger Causality test, correlation analysis, the Johansen co-integration test, and the Augmented-Dickey Fuller (ADF) test. The correlation analysis revealed a high degree

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2

Kaur, Gurmit, and Siti Ayu Jalil. "Examining the Linkage between Poverty and Macroeconomic Variables in Malaysia: A Co-integration Analysis." Information Management and Business Review 9, no. 2 (2017): 6–15. http://dx.doi.org/10.22610/imbr.v9i2.1718.

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The purpose of this paper is to examine the linkage between the macroeconomic variables i.e. gross domestic product per capita (GDP), unemployment (UNE), tourist receipts (TOU), consumer price index (CPI) and poverty rate (POV) in Malaysia from 1969-2014. The econometric techniques used are unit root test and the Johansen Cointegration. The Granger Causality test using Block Exogeneity Wald test was added to analyze the causal relationships between the variables. The unit root test showed that all variables were stationary at first difference and thus the Johansen Co-integration test is an app

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3

Usman, Mohammed Bello, Ibrahim Maharazu, Olugbenga Omotayo Alabı, Olugbenga Oladele, and Jeremiah Aluwong. "Dynamics and competitiveness of Nigeria’s sesame production in international trade: Vector error correction method." Mediterranean Agricultural Sciences 37, no. 2 (2024): 73–80. http://dx.doi.org/10.29136/mediterranean.1480015.

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This research study evaluated the dynamics and competitiveness of Nigeria’s sesame (Sesamum indicum) production in international trade. Secondary data were used, in the data period of 1982 to 2022 (41 years). The data used were sourced from NBS, CBN, FAO, World Bank publication, and General Household Survey-Panel (GHS-P) in conjunction with Federal Ministry of Agriculture and Rural Development. The econometric tools used were Augmented Dickey-Fuller (ADF) unit root test, Johansen co-integration test, Zivot – Andrews (Z-A), Lee Strazicich (LM) structural break unit root tests, and vector error

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4

Idumah, Felix O., Chimezie Mangodo, Uyinmwen B. Ighodaro, and Paul T. Owombo. "Climate Change and Food Production in Nigeria: Implication for Food Security in Nigeria." Journal of Agricultural Science 8, no. 2 (2016): 74. http://dx.doi.org/10.5539/jas.v8n2p74.

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<strong></strong><p>Food production in Nigeria is largely dependent on natural environmental resources like rainfall, temperature and relative humidity. This study examined the impact of some of these climatic variables on food production in Nigeria from 1975 to 2010. Secondary time series data obtained from FAOSTAT (Food and Agriculture Organization statistics) and Nigerian Meteorological Agency were used for the study. The data were analyzed using some econometric tools such as Augmented Dickey Fuller (ADF) test, Johansen Test and Vector Error Correction (VEC) Estimates. Th

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5

Chibuzo G. Amaefula and Ovieneyi L. Egba. "Do money supply, interest rates, external debt and exchange rates explain inflation in Nigeria? An econometric approach." World Journal of Advanced Research and Reviews 22, no. 2 (2024): 713–23. http://dx.doi.org/10.30574/wjarr.2024.22.2.1421.

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The recent jump up in the prices of goods and services in Nigeria despite government policy interventions has triggered new research towards finding solutions to curbing this economic menace. This study examines whether the interest rate, exchange rates, external debt and money supply can curb inflation in Nigeria. The proxy measures of the variables under study, such as; 3-month deposit rate (ITR3), naira\1 Us dollar exchange (EXR), government external debt (ETD), money supply (MS) and consumer price index (CPI) data used cover the period from January 1981 to December 2022. Statistical tools

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Chibuzo, G. Amaefula, and L. Egba Ovieneyi. "Do money supply, interest rates, external debt and exchange rates explain inflation in Nigeria? An econometric approach." World Journal of Advanced Research and Reviews 22, no. 2 (2024): 713–23. https://doi.org/10.5281/zenodo.14603195.

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The recent jump up in the prices of goods and services in Nigeria despite government policy interventions has triggered new research towards finding solutions to curbing this economic menace. This study examines whether the  interest rate, exchange rates, external debt and money supply can curb inflation in Nigeria.  The proxy measures of the variables under study, such as; 3-month deposit rate (ITR3), naira\1 Us dollar exchange (EXR), government external debt (ETD), money supply (MS) and consumer price index (CPI) data used cover the period from January 1981 to December 2022. Statis

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7

Ali, Malik Saqib, Muhammad Sohail, and Zahid Mehmood Akhtar. "Causality of Higher Education and Unemployment: An Empirical Evidence from Pakistan Economy." Global Social Sciences Review VI, no. II (2021): 330–38. http://dx.doi.org/10.31703/gssr.2021(vi-ii).33.

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Higher education and unemployment is a substantial concern for developing countries and developed countries as well. To get the empirical evidence of the Pakistan economy, the present research is being carrying on. This study applies time series data in nature covering the period from 1985 to 2018. Assessing the long run association within the policy indicators and commuting the causality of higher education and unemployment, two different econometric techniques Johansen Co-integration and Granger Causality test is arrayed whereas the annual speed of adjustment is estimated when disequilibrium

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8

Tripathi, Vanita, and Arnav Kumar. "Relationship between Inflation and Stock Returns – Evidence from BRICS markets using Panel Co integration Test." International Journal of Accounting and Financial Reporting 1, no. 1 (2015): 647. http://dx.doi.org/10.5296/ijafr.v4i2.6671.

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Stocks are generally considered to be a good hedge against inflation because of their tendency to move together. This paper examines long term relationship between inflation and stock returns in BRICS markets using panel data for the period from March 2000 to September 2013. Correlation results reveal a significant negative relationship between stock index and inflation rate for Russia and a significantly positive relationship for India & China. ADF, PP and KPSS unit root tests indicate non-stationary characteristic of the data. Further we find no long term co-integrating relationship betw

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9

Hassan, A. F. M. Kamrul, and M. Rafiqul Islam. "Temporal Causality and Dynamics of Financial Development, Trade Openness, and Economic Growth in Vector Auto Regression (VAR) for Bangladesh, 1974-2003: Implication for Poverty Reduction." Journal of Nepalese Business Studies 2, no. 1 (2007): 1–12. http://dx.doi.org/10.3126/jnbs.v2i1.50.

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This paper examines whether financial development and openness to international trade can play any positive role in reducing poverty in Bangladesh through their growth enhancing effect. The paper takes granted that growth reduce poverty and makes econometric test to ascertain whether financial development and trade openness cause growth. Standard Granger-causality test is employed for this purpose. Variables are found first difference stationary without having any co-integrating relationship as reported by Johansen co-integration test. As such Granger-causality test is carried out in first dif

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10

Dekkiche, Djamal. "Impact of Money Supply on Inflation Rate in Egypt: A VECM Approach." Economics and Business 36, no. 1 (2022): 134–48. http://dx.doi.org/10.2478/eb-2022-0009.

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Abstract In this work, the research team employed a VECM regression model to evaluate the relationship between money supply and inflation rate (INF) in Egypt from 1990 to 2019. The model includes four independent variables: money supply (MS), imports (IMP), Gross Domestic Product (GDP), and exchange rate (EXCH). A Johansen-Juselius co-integration test and a Vector Error Correction Model were used to determine the existence of long-term and short-term links between the variables. The results demonstrated the existence of co-integrating links between the variables. Aside from the effects of GDP,

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11

Ismail Hossain, Mohammad, and Wim Verbeke. "Evaluation of Rice Markets Integration in Bangladesh." LAHORE JOURNAL OF ECONOMICS 15, no. 2 (2010): 77–96. http://dx.doi.org/10.35536/lje.2010.v15.i2.a4.

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The liberalization of the agricultural sector in general and the rice subsector in particular has been a major component of Bangladesh’s structural adjustment program initiated in 1992. However, the government has continued to intervene in the rice subsector. This paper examines whether the regional/divisional rice markets have become spatially integrated following the liberalization of the rice market. Wholesale weekly coarse rice prices at six divisional levels over the period of January 2004 to November 2006 were used to test the degree of market integration in Bangladesh using co-integrati

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12

Agada, Franklin Ayibatunimibofa, and Benwari Pagaebinyo Clarence. "Determinants of Exchange Rate Crisis in the Nigeria Economy." International Journal of Research and Innovation in Social Science VII, no. VI (2023): 1835–44. http://dx.doi.org/10.47772/ijriss.2023.7753.

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The study examined the causes of exchange rate crises in Nigeria between 1986 and 2021. In particular, we investigate how the trade balance (LNBOP), oil price (COP), external debt (LNEXDS), and private sector credit (LNPSC) influence Nigeria’s exchange rate (EXR). The statistical bulletin of the Central Bank of Nigeria and the Nigeria Bureau of Statistics provided the study’s data. At the 5% level, descriptive statistics, the stationarity test, Johansen cointegration, VAR, and VAR Block Granger Causality were utilised. The variables were integrated at first difference for the stationarity test

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Dr., Altaf Hussain Padder. "Economic Analysis of Income and Employment in the Indian Economy: Granger Causality Approach." Indian Journal of Economics and Finance (IJEF) 5, no. 1 (2025): 46–52. https://doi.org/10.54105/ijef.C2508.05010525/.

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<strong>Abstract:</strong> This paper investigates the relationship between economic growth and employment in India, focusing on the postreform period. Using a semi-log quadratic model, the study examines trends in GDP and jobs, drawing comparisons across various countries and income groups. The Granger causality test and the Johansen co-integration technique are employed to analyse the linkages between these variables. The findings reveal that while GDP and employment exhibit positive correlations in some countries, including China, Pakistan, and the USA, the relationship is predominantly neg

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14

Wiranata, Dimas Bagus, and Masyhudi Muqorrobin. "The Relationship Between Energy Consumption and Economic Growth." TRIKONOMIKA 12, no. 2 (2013): 103. http://dx.doi.org/10.23969/trikonomika.v12i2.470.

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Using a neo-classical one-sector aggregate production where energy is used as one inputs, the paper develops a vector error-correction (VEC) model to test for the existence and direction of causality between output growth and energy consumption in Malaysia. Using the Johansen co-integration technique, the empirical findings indicate that the long-run movements of output and energy do not exist by one co-integrating vector. Then using a VEC specification, the short-run dynamics of the variables indicate that Granger-causality is not running in both directions between output growth and energy co

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15

Meyer, Danie Francois, Chama Chipeta, and Richard Thabang Mc Camel. "An Analysis of the Effectiveness of Interest Rates to Facilitate Price Stability and Economic Growth in South Africa." Studia Universitatis Babes-Bolyai Oeconomica 63, no. 3 (2018): 68–90. http://dx.doi.org/10.2478/subboec-2018-0015.

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Abstract Price stability supports accelerated economic growth (GDP), thus the main objective of most central banks is to ensure price stability. The South African economy is experiencing a unique monetary policy dilemma, where a high inflation rate is accompanied by high interest rates and low GDP. This is an unconventional monetary policy scenario and may hold strenuous repercussions for the South African economy. This dilemma was held as the rationale behind this study. The study investigated the effectiveness of the use of the repo rate as an instrument to facilitate price stability and GDP

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16

Dimoso (PhD, Economics), Romanus L., and UTONGA, Dickson (MSc. Economics). "The Nexus between Export and Economic Growth in Tanzania." International Business & Economics Studies 1, no. 2 (2019): p95. http://dx.doi.org/10.22158/ibes.v1n2p95.

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This study explored the causal relationship between exports and economic growth in Tanzania. It analyzed time series data for the period of 1980 to 2015. Economic growth is measured in terms of growth per cent while exports are measured in percentage change of goods and services sold abroad. Econometrics analysis was employed in the due course. Such procedures as testing for the presence of unit root, co-integration and causality were done. Furthermore, the Johansen co-integration and Granger causality tests were employed to examine the long-run relationship among variables. The results of co-

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17

Awuna, J. M., Musa, A. U., and Onah, A. E. "EFFECTS OF GROSS FIXED CAPITAL FORMATION AND SELECTED INTERNATIONAL TRADE POLICY INSTRUMENTS ON AGRICULTURAL PRODUCTIVITY IN NIGERIA: AN AUTOREGRESSIVE DISTRIBUTED LAG (ARDL) MODEL APPROACH." Nigerian Journal of Agriculture and Agricultural Technology 3, no. 2 (2023): 1–9. http://dx.doi.org/10.59331/njaat.v3i2.536.

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The study assessed the agricultural productivity effects of gross fixed capital formation, exchange rate and agricultural tariff. The study utilized secondary data spanning from 1980 to 2022. Augmented Dickey Fuller Test was used to test for stationarity among variables, Johansen Cointegration test was used to test for long run relationship between variables. Vector Error Correction Model was used to analyze the effect of gross fixed capital formation, agricultural tariff and exchange rate on agricultural productivity. The result of the Augmented Dickey Fuller (ADF) test for unit root indicate

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18

Obi-Egbedi, Ogheneruemu, Jamiu Hussayn, and Isaac Oluwatayo. "Trade Liberalization Policy and Competitiveness of Cocoa Beans Exports in Nigeria (1961-2017)." Zeszyty Naukowe SGGW w Warszawie - Problemy Rolnictwa Światowego 21(36), no. 1 (2021): 4–15. http://dx.doi.org/10.22630/prs.2021.21.1.1.

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The cocoa sector in Nigeria has experienced decline in production, yield, exports coupled with its inability to attain global standards and targets and, gradual loss of competitiveness at the world market. Trade liberalization was government’s panacea to the sector’s problem although, cocoa competitiveness remains an issue since liberalization. Therefore, the relationship between trade liberalization policy and competitiveness of Nigeria’s cocoa exports was examined in this study using data for the period 1961-2017. Cocoa market share was used to measure competitiveness while analytical tools

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19

Youcef, Grimes, and Abideen Adeyemi Adewale. "Dynamic Linkages Among SAMI Nations (Saudi Arabia, Turkey, Malaysia, Indonesia) Equity Markets." Journal of Islamic Finance 6 (December 31, 2017): 014–34. https://doi.org/10.31436/jif.v6i0.252.

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This research paper investigates the dynamic linkages among four selected equity markets from Organization of the Islamic Conference (OIC) members. The four countries comprised the proposed Muslim BRICS called SAMI: Saudi Arabia, Ankara (Turkey), Malaysia and Indonesia. The study explores the short and long run linkages between these stock markets for the period spanning from January 2000 to September 2014 split into two sub-periods before and after the global financial crisis. Through applying Johansen co-integration analysis we found that the Indonesian, Malaysian, Saudi Arabian and Turkish

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20

Sultana, Ayrin, and Md Abdullah -Al-Mamun. "Innovation-led Governance for Economic Development of Bangladesh." Journal of Financial Markets and Governance 3, no. 2 (2024): 91–110. https://doi.org/10.54728/jfmg.202410.00104.

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A strategic approach to public sector governance, innovation-led governance entails incorporating innovation into larger governance frameworks. Governments can boost innovation in a number of ways, such as investing in new technology or talents, using innovative approaches to governing, and modifying current procedures. Because it enables the conversion of scientific and technological advancements into profitable economic activity, innovation is a critical component of economic progress. This study is developed to examine the relationship between innovation and the economic development of Bang

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21

Sharma, Prashant, Prashant Gupta, Dinesh Kumar Sharma, and Gaurav Agarwal. "Investigating the Efficiency of Bitcoin Futures in Price Discovery." International Journal of Economics and Financial Issues 12, no. 3 (2022): 104–9. http://dx.doi.org/10.32479/ijefi.12783.

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The present study investigates the efficiency of the Bitcoin futures in the price discovery process by assessing the lead-lag relationship between the futures and spot prices of Bitcoin. The study tests whether the Bitcoin futures market is leading the price discovery mechanism for the Bitcoin spot market. The study considers daily closing prices of both Bitcoin spot and future indices from December 12, 2017 to December 31, 2020. The stationarity of the two time-series variables is tested using Augmented Dickey-Fuller test while the long-run co-integrating relationship is tested using Johansen

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22

Khandelwal, Risha. "An Econometric Analysis of Linkages between Macroeconomic Variables and Stock Markets: Evidence from Asian Emerging Markets." GIS Business 13, no. 5 (2018): 21–30. http://dx.doi.org/10.26643/gis.v13i5.3269.

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The purpose of this paper is to investigate impact of macroeconomic variables on stock markets of India and Indonesia. This paper also attempts to identify linkages between markets and macroeconomic variables. The rationale behind selecting these countries for the present study is MSCI emerging markets index of Asia, which comprises emerging economies with huge return potential for prospective investors. This study will help investors and researchers to understand dynamics of linkages between markets and macroeconomic variables. Augmented Dickey-Fuller (ADF) unit root test is used to assess th

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23

Shahani, Rakesh, and Kamya Raghuvansi. "Carbon Dioxide Emissions and Economic Growth: A Bivariate Co-integration Analysis for Two Emerging Markets of India and China." Vision: The Journal of Business Perspective 24, no. 1 (2019): 9–22. http://dx.doi.org/10.1177/0972262919855806.

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The article investigates the co-integrating relation between carbon dioxide (CO2) emissions and economic growth of India and China: the two emerging markets of Asia. The article also tries to test the functional form of EKC as applicable to India and China. The study takes annual data for the 55 year period from 1960–2014 and the variables included are GDP per capita (a proxy for economic growth) and CO2 emissions per capita (a proxy for the environmental degradation). The co-integrating relation has been tested using Johansen (1988) co-integration test which is supplemented with VAR-VECM Mode

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24

Samson, Bredino, Fiderikumo Peter, and Dikeogu Cynthia. "Fiscal Policy and Inflation in Nigeria." Journal of Sustainable Business and Economics 6, no. 2 (2023): 1–11. http://dx.doi.org/10.30564/jsbe.v6i2.5739.

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This paper empirically examined the impact of fiscal policy on inflation in Nigeria. Time series data on inflation, government revenue, government expenditure, and gross domestic product were sourced from the Central Bank of Nigeria (CBN). The aforementioned secondary data cover the period from 1981 to 2021. The Augmented Dickey Fuller (ADF) unit root test and Johansen co-integration test were used to testing for data stationarity and the existence or otherwise of co-integrating equations respectively. Thereafter, data were analyzed using Ordinary Least Square and Parsimonious Error Correction

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25

Barguma, Wilson Simon, Adana’a Felix Chama, and Emmanuel Torsen. "Impact of Nigerian Petroleum Oil Production on Nigerian Economy: Cointegration and Error Correction Model Analysis." Asian Journal of Advanced Research and Reports 17, no. 11 (2023): 100–110. http://dx.doi.org/10.9734/ajarr/2023/v17i11557.

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This study was done to investigate the effect of Nigerian crude oil production against Nigerian economy.Johansen's co-integration concept is employed on thirty-three years (1981-2013) data about annual Gross national income, petroleum production along with petroleum oil exchange. Augumented Dickey-fuller (ADF) test was carried out in level as well as first difference of every sequence. ADF test indicated existence of unit root at the level otherwise at first difference the series were stationary. The trace and eigenvalues of Johansen co-integration indicated single co-integrating equation in t

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26

Awolusi, Olawumi Dele, Ezekiel Jide Fayomi, and GANIYU Idris Olayiwola. "International Trade, Foreign Direct Investment (FDI) and International Technology Transfer: A Comparative Study of Asian and African Economies." Journal of Economics and Behavioral Studies 8, no. 6(J) (2017): 127–45. http://dx.doi.org/10.22610/jebs.v8i6(j).1498.

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Abstract: This paper investigates the long-run equilibrium relationships and short-term effect of international trade and Foreign Direct Investment (FDI) on international technology transfers in selected African and Asian countries from 1980 to 2013.The Johansen and Juselius multivariate co-integration technique and the granger causality test was used to test these relationships. The findings confirmed the presence of co-integrating vectors in the models of these countries. The outcome of the test posits short-run causal relationships, which run either bidirectionally or unidirectionally in al

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Ogbanje, Elaigwu Christopher and Tor, Iveren Evelyn. "THE AGRICULTURAL SECTOR AND NIGERIA’S ECONOMIC GROWTH: A VECTOR ERROR CORRECTION MODEL APPROACH." Journal of Agripreneurship and Sustainable Development 5, no. 2 (2022): 61–71. http://dx.doi.org/10.59331/jasd.v5i2.316.

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The study examined the impact of agriculture on Nigeria’s economic growth, using the vector error correction model approach. Secondary data were obtained from the Central Bank of Nigeria, FAOSTAT and National Bureau of Statistics between 1981 and 2019. Descriptive statistics, Augmented Dickey Fuller test for unit roots, Johansen test for co-integration test and vector error correction model were used. Pre-estimation test showed that variables were I(1); foreign direct investment to the agricultural sector had the highest coefficient of variation (2.50), with the least mean (N18,797.33) and gro

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Syed Mohamad, Sharifah Fairuz, Wahibah Wahab, Muhammad Firdaus Mohd Shihabuddin, Mazlynda Md. Yusuf, and Mohamed Fairooz Abdul Khir. "Analysis of Lending/Financing Rates and Profit Motive among Islamic Banking Customers." Semarak International Journal in Modern Accounting and Finance 3, no. 1 (2025): 1–14. https://doi.org/10.37934/sijmaf.3.1.114a.

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This study investigates the relationship between four terms with respect to Islamic financing, including Islamic financing / conventional loan amounts, base lending, and base financing rates. Theoretically, changes in interest rate would lead profit-motivated customers into substituting Islamic financing for conventional bank loans and vice versa. This study is conducted to identify the co-integrating and causality relationship between conventional loans, base lending rates and base financing rates on Islamic financing. This study also predicts whether there is any form of profit motive among

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Mohd Shihabuddin, Muhammad Firdaus, Sharifah Fairuz Syed Mohamad, Wahibah Wahab, Mazlynda Md. Yusuf, and Mohamed Fairooz Abdul Khir. "Analysis of Lending/Financing Rates and Profit Motive among Islamic Banking Customers." Semarak International Journal in Modern Accounting and Finance 3, no. 1 (2024): 1–14. https://doi.org/10.37934/sijmaf.3.1.114.

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This study investigates the relationship between four terms with respect to Islamic financing, including Islamic financing / conventional loan amounts, base lending, and base financing rates. Theoretically, changes in interest rate would lead profit-motivated customers into substituting Islamic financing for conventional bank loans and vice versa. This study is conducted to identify the co-integrating and causality relationship between conventional loans, base lending rates and base financing rates on Islamic financing. This study also predicts whether there is any form of profit motive among

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Mohamud Hussein, Ali, and Dahir Abdi Ali. "The Role of International Trade and Agricultural Production on Economic Growth in Somalia: Johansson Cointegration Approach." African Journal of Business and Economic Research 17, no. 4 (2022): 123–46. http://dx.doi.org/10.31920/1750-4562/2022/v17n4a6.

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This paper investigated the role of international trade and agricultural production on economic growth in Somalia by utilising annual time series data stretching from 1989 to 2019. Gross domestic product (GDP) was the dependent variable, while exports, imports and agricultural production were the explanatory variables of this study. Augmented Dickey-Fuller test (ADF) and Phillips-Perron (PP) test were used to examine the unit root of the data, and all the variables were stationary both at the first difference I(1). Moreover, the study used the Johansen co-integration method and the Granger-Cau

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Gulzar Ali, Awoesha Rahat, and Said Zamin Shah. "Financial Integration, Domestic Investment and Growth of Pakistan Economy." Research Journal of Social Sciences and Economics Review (RJSSER) 1, no. 3 (2020): 136–42. http://dx.doi.org/10.36902/rjsser-vol1-iss3-2020(136-142).

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This study, in the context of Pakistan, analyzes to which extent the financial integration and domestic investment are responsible for the phenomenal growth rate of Pakistan economy. The relationship is based on time series data covering a period from 1980 to 2018. In analytical techniques, the Augmented Dicky-Fuller unit root test for the stationarity of data, Johansen Co-integration for co-integrating factor, and Vector Error Correction Model (VECM) for phenomenal relation between domestic investment, financial integration and growth of Pakistan economy were applied. The results obtained thr

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Afodu, O.J., Akinboye, O.E., and Akintunde, A.O. "EGG PRICE RESPONSE TO INCREASE IN THE PRICES OF MAIZE AND SOYBEAN MEAL IN NIGERIA USING ECONOMETRIC TOOLS." Nigerian Journal of Agriculture and Agricultural Technology 4, no. 1 (2024): 138–46. http://dx.doi.org/10.59331/njaat.v4i1.636.

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Poultry egg productionn depends greatly on maize and soybean meal which affect the price of egg directly. Egg has been confirmed as one of the cheapest sources of protein. This study was aimed at estimating the relationship between egg price (EP) response to maize price (MP) and soybean meal price (SBMP) changes in Nigeria from 1990 to 2021Time series data in respect of SBMP (N/Kilogramme), MP (N /Kilogramme) and EP (N /Crate) in local currency were obtained. Augmented Dickey Fuller (ADF) test and, the Johansen cointegration technique were employed to test for the stationarity of the variables

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Captain, Briggs Alasin, and C. O. Ofurum. "Revenue Mobilization and Investment on Basic Amenities of Local Governments in Nigeria." American International Journal of Economics and Finance Research 1, no. 1 (2019): 45–59. http://dx.doi.org/10.46545/aijefr.v1i1.61.

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This paper examined the effects of revenue mobilization and investment on basic amenities of local government in Nigeria. Secondary data were collected from the Central Bank of Nigeria Annual Statistical Bulletin from 19932017. Investment in basic amenities was proxy by monetary value of basic amenities while revenue mobilization was proxy by federal government allocation, state government allocation, value added tax, internally generated revenue and grants to local governments in Nigeria. Ordinary Least Square (OLS), Augmented Dickey Fuller Test, Johansen Co-integration test, normalized co-in

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Joshua-Gyang, Emily, David Ogwuche, and John Aiyedogbon. "IMPACT OF GOVERNMENT EXPENDITURES ON INDUSTRIAL OUTPUT IN NIGERIA." International Journal of Advanced Research in Accounting, Economics and Business Perspectives 7, no. 1 (2023): 1–13. http://dx.doi.org/10.48028/iiprds/ijaraebp.v7.i1.01.

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The major goal for government expenditure policies according to Keynes is to improve the effective demand which is aimed at increasing industrial output in developing countries like Nigeria. Therefore, this paper is an attempt to examine the impact of government expenditures on industrial output in Nigeria. Thus, the methodology of this paper is the time series data method which were sourced from the Central Bank of Nigeria statistical bulletin 2021 and the study also employed the Fully Modified Ordinary Least Squares (FMOLS) because the data were co-integrated at order 1(1) and the Johansen c

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Captain, Briggs Alasin, and G. N. Ogbonna. "Revenue Mobilization and Investment on Infrastructure of Local Governments in Nigeria." American International Journal of Economics and Finance Research 1, no. 1 (2019): 60–76. http://dx.doi.org/10.46545/aijefr.v1i1.62.

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This thesis examined the effects of revenue mobilization and investment of local governments in Nigeria. Secondary data were collected from Central Bank of Nigeria Statistical Bulletin. The dependent variables were proxy by value of basic amenities and value of infrastructural development. The independent variables were proxy by federal government allocation, state government allocation, value added tax, internally generated revenue and grants. Descriptive statistics and multiple regressions were used to examine dynamic long run relationship that exists between revenue mobilization and local g

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Sulaiman, Zaagha Alexander. "Money Supply and Private Sector Funding in Nigeria: A Multi-Variant Study." Asian Finance & Banking Review 4, no. 1 (2020): 24–41. http://dx.doi.org/10.46281/asfbr.v4i1.573.

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This study examined the effect of money supply on private sector funding in Nigeria. The purpose of the study was to examine the extent to which monetary policy affect private sector funding in Nigeria. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1985-2018. Credit to private sector, credit to core private sector and credit to small and medium scale enterprises sector was used as dependent variables while narrow money supply, broad money supply, large money supply, private sector demand deposit was used as independent variables. Ordinary Least Square (OLS

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ZAAGHA, Alexander Sulaiman. "External Debt Burdens and Economic Growth: A Vector Error Correction Approach from Nigeria." Journal of Economics, Finance And Management Studies 4, no. 08 (2021): 1292–306. https://doi.org/10.47191/jefms/v4-i8-07.

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This study examined the effect of external debt burden on the growth of Nigeria economy. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1986-2019. Nigeria real gross domestic was proxied for dependent variable while debt servicing; external debt stock, debt overhang, debt sustainability and crowd-out effect of external debt were proxies for independent variables. The study employed multiple regression models to estimate the relationship that exists between external debt burden indicators and Nigeria economic growth. Ordinary Least Square (OLS), Augmented Di

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Nihal, Grii, Cherkaoui Mounia, Mujahid Hussain, et al. "Impact of Innovation on Economic Growth of G8 Countries- Analysis Over 1996-2020." International Journal of Professional Business Review 8, no. 5 (2023): e01413. http://dx.doi.org/10.26668/businessreview/2023.v8i5.1403.

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Purpose: The study aimed to analyze the relationship between innovation and economic growth in the G8 countries over the period 1996-2020. Theoretical framework: The theoretical framework id built upon the neo-classical growth theory, endogenous growth theory, and the innovation systems approach. Design/methodology/approach: The research used the Vector Auto Regression (VAR) model and penal regression, and found evidence of a positive and significant relationship between innovation and economic growth through the results of the Johansen co-integration test. The Granger causality Wald test also

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Igoni, Suoye, Nnaemeka Anthony Nwadioha, and Ebi R. Odi. "APPRAISAL OF ENERGY CONSUMPTION AND CARBON DIOXIDE EMISSIONS ON FIXED CAPITAL FORMATION IN NIGERIA." International Journal of Advanced Research 9, no. 11 (2021): 878–90. http://dx.doi.org/10.21474/ijar01/13816.

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There is growing interest for the use of renewable energy and carbon dioxide emission in Nigeria, and the world over.Despite the volume of consumption, and the enabling oil and gas laws to protect the environment and improve the well-being of citizens over the years, the gross fixed capital formation have not received a remarkable growth in Nigeria which motivated for this study. The gross fixed capital formation was the dependent variable against energy consumption, and carbon dioxide emission that represented the explanatory variables were sourced from the World Bank and the Central Bank of

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Muhammad, Lawal, and Victor Ushahemba Ijirshar. "Empirical Analysis of the Relationship between Foreign Direct Investment and Economic Growth in Developing Countries- Evidence from Nigeria." International Journal of Business Administration and Management Research 1, no. 1 (2015): 15. http://dx.doi.org/10.24178/ijbamr.2015.1.1.15.

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This study examines the effect of Foreign Direct Investment (FDI) on economic growth of Nigeria. The main objective of the study is to explore and quantify the contribution of Foreign Direct inflows to economic growth in Nigeria and other macro-economic variable(s). The model built for the study proxy real gross domestic product as the endogenous variable measuring economic growth as a function of Foreign Direct Investment,Domestic capital, Government Expenditure, real exchange rate and Inflation rate as the exogenous variables in the first model while unemployment was expressed as a function

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Sharma, Prashant, Gaurav Agrawal, C. T. Sunil Kumar, Modish Kumar, and Sushil Kalyani. "Impact of environmental, social, and governance factors on the price discovery process in the Indian stock market." Investment Management and Financial Innovations 22, no. 2 (2025): 268–78. https://doi.org/10.21511/imfi.22(2).2025.21.

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Environmental, Social, and Governance (ESG) factors are important in evaluating a company’s performance while aligning investment with governance, ethical, environmental, social commitment, and sustainability goals. Recent years have seen an increasing focus on ESG factors, leading to a corresponding evolution in financial markets. ESG is emerging as a key factor among other non-financial performance indicators that impact market dynamics, price, and investment strategies. This study investigates the price discovery process at the firm level in reference to ESG in the Indian stock market. The

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Sulaiman, Zaagha Alexander, and Murray Monday Ebike. "Deposit Money Bank Policy and Private Sector Funding: A Multi-Dimensional Study from Nigeria." Australian Finance & Banking Review 4, no. 1 (2020): 18–35. http://dx.doi.org/10.46281/afbr.v4i1.600.

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This study empirically examined the effect of deposit money banks policy on private sector funding in Nigeria. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1985-2018. Credit to private sector, credit to core private sector and credit to small and medium scale enterprises was used as dependent variables while liquidity ratio and loan to deposit ratio was used as independent variables. Ordinary Least Square (OLS), Augmented Dickey Fuller Test, Johansen Co-integration test, normalized co-integrating equations, parsimonious vector error correction model and p

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Kate, Emenalom, Nwabeke Chidinma Elizabeth, and Sampson Ikenna Ogoke. "Macroeconomic Factors and Foreign Direct Investment: A Comparative Study of Nigeria and South Africa." Journal of Accounting and Financial Management 8, no. 7 (2023): 271–91. http://dx.doi.org/10.56201/jafm.v8.no7.2022.pg271.291.

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This study examined macroeconomic factors that determine foreign direct investment into Nigeria and South Africa. The effect Time series data was sourced from Central Bank of Nigeria Statistical Bulletin and World bank data base from 1987-2017. Net foreign direct investment to gross domestic product was modeled as the function of exchange rate, real interest rate, real gross domestic product, inflation rate and money supply. The null Hypotheses (H0) were tested at 0.05 level of significance, Ordinary Least Square (OLS), Augmented Dickey Fuller Test, Johansen Co-integration test, normalized co-

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Emmanuel, Benson, Eya Criscent Ike, and Yunusa Alhasan. "Effect of Exchange and Interest Rates on Foreign Direct Investment in Nigeria 2006-2018." International Journal of Contemporary Research and Review 10, no. 07 (2019): 21572–85. http://dx.doi.org/10.15520/ijcrr.v10i07.717.

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This study examined the Effect of Exchange and Interest Rates on Foreign Direct Investment in Nigeria 2006-2018. Secondary data was used for the study and it was obtained from the financial statement of the Central Bank of Nigeria for the period 2000-2018. The unit root property of the data was analyzed using the Augmented Dickey Fuller Test and the variables were all stationary at first difference. Also, Johansen Co-integration test statistics was used to test the cointegrating nature of the data while the longrun and the shortrun relationship between the variables of the study were examined

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Adekunle, Soniudeen Babatunde, Godwin Clement, and Adetoye Timothy Osisanwo. "The Relationship Between the Value of Naira and Nigerian Production." Advances in Multidisciplinary and scientific Research Journal Publication 9, no. 1 (2021): 83–96. http://dx.doi.org/10.22624/aims/humanities/v9n1p7.

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The study examined the relationship between the value of naira and Nigerian production. Time series data from Central Bank of Nigeria (CBN) statistical bulletin (Various Issues) were adopted. Unit root test, co-integration test and error correction model were carried out. Johansen test, trace statistics and maximum eigen statistics shows that there is co-integrating equation in a test, which means that there is a long run relationship among the variables and we reject the null hypothesis at 5%. The error correction model result showed that the economy needs 46.7% mechanical adjustment every ye

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ZAAGHA, Alexander Sulaiman. "Micro Financing and Economic Development: A Sectorial Microcredit Study from Nigeria." Journal of Economics, Finance And Management Studies 4, no. 08 (2021): 1336–51. https://doi.org/10.47191/jefms/v4-i8-10.

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This study examined the effect of sectorial microcredit allocation on Nigeria economic development. Time series data were sourced from Central Bank of Nigeria Statistical Bulletin from 1992-2019. Nigeria per capita income was proxied for dependent variables while microcredit to agricultural sector, mining and querying, manufacturing sector, real estate and construction and transport and communication were proxies for independent variables. The study employed descriptive statistics and multiple regression models to estimate the relationship that exists between sectorial microcredit allocation a

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Bhoomika, Jainuddin S M, Amrutha T. Joshi, Satishkumar M, Vijaya B. Wali, and Shiva Kumar. "Performance of Groundnut Markets in Karnataka, India: An Economic Analysis." Asian Journal of Agricultural Extension, Economics & Sociology 43, no. 3 (2025): 72–83. https://doi.org/10.9734/ajaees/2025/v43i32703.

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Spatial market integration refers to a situation in which the price of the commodity in spatially separated markets moves together and price signals and information are transmitted smoothly. The present study aimed to evaluate the spatial price linkages between groundnut markets in Karnataka using monthly price data of groundnut (2002- 2022). The required secondary data were collected from published reports of APMC’s, Krishimaratavahini etc. For the study top ten groundnut markets such as Yadgir, Laxmeshwar, Raichur, Ballari, Challakere, Hubbali, Gadag, Mundargi, Chitradurga and Kottur were se

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B. O., Agu,, Nwankwo, S. N. P., and Onwuka, I. O. "Impact of Capital Market on Domestic Resource Mobilization for Economic Development in Nigeria (2000-2015)." Journal of Economics and Public Finance 3, no. 1 (2016): 1. http://dx.doi.org/10.22158/jepf.v3n1p1.

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<p><em>The</em><em> </em><em>study investigated the impact of Nigerian capital market on domestic resource mobilization for economic development,</em><em> </em><em>using time series data from 2000 to 2015. The study employed secondary data obtained from the Central Bank of Nigeria Statistical Bulletin, the Nigerian Stock Exchange Fact Book and Securities and Exchange Commission database. To evaluate the impact of the independent variables on the dependent, the Ordinary Least Square (OLS) method of estimation was employed. Augmented Di

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Kavoki, Jackline, Dr Evans Kiganda, and Dr Destaings Nyongesa. "Effect of Government Funding to Secondary Schools on Gender Parity in Kenya." International Journal of Research and Innovation in Social Science VII, no. X (2023): 2320–32. http://dx.doi.org/10.47772/ijriss.2023.701174.

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Education is seen as a key driver to any economy because of its ability to develop human capital which is essential to the growth of any economy. In order to achieve the sustainable development goals (SDG’S), the government of Kenya has to ensure inclusive and equitable quality education and promotion of learning outcomes for all. Attaining gender parity measured by gender parity index (GPI) of 1 in enrolment is vital for realizing gender equality in education. Education for all (EFA) goal 5 advocates for eradicating gender disparities in both primary and secondary education. Most of the studi

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Chukwukemeka, Anyamaobi, and Stella Nathan Omubo Pepple. "A Time Series Study of Financial Sector Development and Original Sin in Nigeria." Saudi Journal of Business and Management Studies 9, no. 09 (2024): 177–91. http://dx.doi.org/10.36348/sjbms.2024.v09i09.001.

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This study examined financial sector development and original sin in Nigeria financial market. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1990-2023. Original sin measured by Nigeria external debt per exchange rate, Capital market development as market capitalization to gross domestic product, Foreign exchange market as variation in naira exchange rate per US Dollar, banking sector development as percentage total bank assets to gross domestic product, money market development as insurance total assets to gross domestic product, Money market development a

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