This paper investigates the relationship between expected inflation and nominal interest rates in Nigeria and the extent to which the Fisher effect hypothesis holds, for the period 1970-2009. We made attempt to advance the field by testing the traditional closed-economy Fisher hypothesis and an...

This study investigates whether there is statistical evidence for a causal relationship between federal government expenditures and growth in real per-capita GDP in the Nigeria, using long and up to date available time series data (1961-2011). After studying the time-series properties of these...

The study investigates how consumption expenditure is determined by income according to Keynes’ Absolute Income Hypothesis (AIH) for the case of Nigeria and thus presents a consumption function for Nigeria for the period 1970 to 2011, estimating total household consumption expenditure against...

Wagner’s Law is the first model of public spending in the history of public finance. The study tests the validity of Wagner’s Law that there is a long-run tendency for public expenditure to grow relative to national income. This implies that public expenditure can be treated as an endogenous...

The Quantity Theory of Money (QTM) is one of the popular classical macroeconomic models that explain the relationship between the quantity of money in an economy and the level of prices of goods and services. This study investigates this relationship for Nigeria economy over the period of 1960...

This study examined the preference for and consumption pattern of meat types by individual households - Specifically, the study investigated the extent to which household income, household size and other socio-economic factors predicted monthly expenditure on meat. Three Hundred household heads...

This study examined the causal relationship between government spending and national income in panel of three African countries – Nigeria, Ghana and South Africa - during the period 1970 to 2012 using Johansen Fisher Panel Cointegration Test and then on a country-by-country basis using time...

Government size, its roles and the efficiency of the public sector has becomes a more important issue recently especially when the financial crisis has covered severely almost all Economies worldwide. Using time-series techniques, this study empirically tests the validity of existing theory...

Foreign direct investment (FDI) is often seen as an important catalyst for economic growth in the developing countries. It affects the economic growth by stimulating domestic investment, increasing human capital formation and by facilitating the technology transfer in the host countries. The...

This study aimed at empirically exploring the triangle of relationships – finance-inflation-growth – with the broader data sets (1970 - 2012) to see whether a direct effect of inflation on growth can be identified as well as an indirect effect through financial sector development. It also...