Browsing by Author "Olabode, Olabisi E."
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Item Causality Testing between Trade Openness, Foreign Direct Investment and Economic Growth: Fresh Evidence from Sub-Saharan Africa Countries(Camera di Commercio di Genova, 2018) Lau, E.; Olabode, Olabisi E.Previous works are yet to reach a consensus about the direction of causality between Trade Openness (TO), Foreign Direct Investment (FDI) and Economic Growth (EG), in particular, using a panel data analysis for Sub-Saharan African (SSA) countries. This study adopts first and second generation econometric methods to analyse the relationships between trade openness, FDI and economic growth in Sub-Saharan Africa countries over the period 1980-2016. The Westerlund cointegration, the Common Correlated Effect Mean Group (CCEMG), and the Bootstrapp Granger causality econometric techniques were adopted. Findings show there is a cross-sectional dependence among the 23 SSA countries examined. A long-run cointegration among trade openness, FDI and economic growth also exists. A positive and significant relationship exists between trade openness and economic growth. FDI indicates a positive and significant relationship with economic growth. The panel error correction term (ECT) result further confirmed the long-run relationship among the variables. A bidirectional causal relationship exists among trade openness, foreign direct investment net inflows and economic growth for Gambia, Senegal and South African countries.Item Impact of economic globalization on human capital: Evidence from Nigerian economy(International Journal of Economics and Financial Issues, 2015-07-15) Solarin, Sakiru A.; Olabode, Olabisi E.Investment in human capital in relation to global world is to achieve an optimum return in terms of a gainful employment, productivity and high standard of living. This paper uses autoregressive distributed lag model to determine the cointegration, long run and short run elasticities among human capital, economic growth, economic globalization and foreign direct investment (FDI), for the period 1980-2011. The empirical results reveal that there is a long run relationship among the variables tested in this study. Also, economic growth and FDI show a positive impact on human capital and economic globalization indicates a negative impact on human capital in Nigeria.Item NIGERIAN AND MALAYSIAN GROWTH EMPIRICS: A COMPARATIVE ANALYSIS USING AUTOREGRESSIVE DISTRIBUTED LAG APPROACH(Journal of Academic Research in Economics, 2017) Olabode, Olabisi E.Quit a number of similarities could be drawn from Nigeria and Malaysia. For instance, the duo is in the tropical region, which favours agricultural cultivation. Also, both countries gained their independence from the same colonial master (British) in almost the same year, and practice federal system of government. Today, Malaysia as part of the emerging economies has set a better economic pace in the country`s development, and hoping to attain her vision 2020 of joining the developed economies of the world. However, Nigeria is in economic recession at present as a result of a shortage in the export earnings. This paper uses autoregressive distributive lags (ARDL) model, annual data from 1980 to 2015 to compare the macroeconomic variable performances of both countries. The paper finds that Malaysian import shows a negative and significant result, and the gross capital formation and export are positive and significant to determine economic growth in both the short-run and long-run. The results further show that, in Nigeria, export and gross capital formation is positive and significant in the shortrun only, but in the long-run gross capital formation is significant and export is insignificant. Therefore, the Nigerian government policy-makers should direct the export earnings in the short-run to a better productive sector that is capable of generating more exportation in the long-run.Item Revisiting the tourism-economic growth nexus: the case of economic community of West African States(Икономически университет-Варна, 2018) Olabode, Olabisi E.This article investigates the relationship between the level of tourism expenditures and economic growth using a short time panel dataset covering 15 West African Countries from 2007 to 2015. The fixed effects results show that tourism expenditures and tourism receipts are insignificant to explain ECOWAS per capita Gross Domestic Product (GDP) growth. The paper finds that gross capital formation (physical capital) and labour force are positive and significant mechanisms for growth in the per capita income of ECOWAS economy. The paper recommends that ECOWAS should sell all the unused buildings, equipment, machineries and other viable governments’ assets to raise capital for investment which may boost gross domestic product if the proceeds from the sales of the assets are well utilised.Item Trade Liberalization and Economic Growth in Nigeria: Do Concern Matters?(The Economics and Social Development Organization (TESDO), 2015) Olabode, Olabisi E.The present study investigates the relationship between trade and economic growth. Methodology: This paper uses the Johansen co-integration approach, Fully Modified Ordinary Least Square (FMOLS) approach to analyse the relationship among trade liberalization, export, import, population growth and economic growth. Findings: Results show there is long run equilibrium among trade liberalization, export, import, population growth and economic growth. A negative and significant relationship exists between trade liberalization and economic growth. Both export and import show positive and significant results. Population shows an insignificant effect on economic growth of Nigeria. It is therefore concluded that concern about trade liberalization in Nigeria should not be a priority. Recommendations: However, the paper recommends among others that priorities should be given on how to fight corruption which is the major problem of the country.