Papers by Chukwunonso Ekesiobi
Journal of economics and sustainable development, 2014
This paper empirically investigated the impact of financial development on economic growth in Nig... more This paper empirically investigated the impact of financial development on economic growth in Nigeria during the period 1986-2012.To achieve the purpose of this research, we estimated the real GDP as a function of the gross fixed capital formation, financial development (the ratio of private sector credits to GDP), liquidity ratio, and the interest rate. The methods used are: the Ordinary Least Squares (OLS) techniques, Augmented Dickey-Fuller unit root test, Johansen cointegration test, error correction technique, and the Granger causality test. The empirical results revealed that: all the variables used are integrated of the same order, I(1); there is evidence of the existence of a long run relationship among the variables used; the normalized cointegration coefficients revealed that financial development affects economic growth negatively in the long run. However, the short run impact of financial development on economic growth is positive. This goes to show that the finance-led growth hypothesis is valid in Nigeria only in the short run. There is also evidence of stability of both long run and short run relationship between the real GDP and financial development in Nigeria and the adjustment process to restore equilibrium after disturbance is effectively slow (6.50 percent of discrepancies is corrected in each period). Also, causality runs from economic growth to financial development and there is no bi-directional causality between growth and finance which lends support to the demand-leading hypothesis. Based on these findings, the study therefore recommends among other things that: the government should device a means to energise the micro finance sector so as to make credits available and accessible to micro entrepreneurs who are often deprived of credits by the conventional credit markets. This will help boost the private sector development and investment which is the engine of growth.
Sustainability burden or boost? examining the effect of public debt on renewable energy consumption in Sub-Saharan Africa
Energy Sources, Part B: Economics, Planning, and Policy
Turning the tide on energy poverty in sub-Saharan Africa: Does public debt matter?
Energy
Funding the green transition: Governance quality, public debt, and renewable energy consumption in Sub-Saharan Africa
Utilities Policy
Assessment of Energy Efficiency Investment in Onitsha Business Cluster, Nigeria
SSRN Electronic Journal
Energy poverty, environmental degradation and agricultural productivity in Sub-Saharan Africa
International Journal of Sustainable Development & World Ecology
We model the impact of international trade and FDI on carbon emission in Nigeria to test the poll... more We model the impact of international trade and FDI on carbon emission in Nigeria to test the pollution haven hypothesis between 1981 and 2020 using the ARDL approach. The study utilises the Lee-Strazicich (L-S) unit root test to check for possible breaks since the traditional unit root test treats breaks as unit roots. The L-S result indicates the presence of structural breaks between 2006 and 2017. Additionally, we check for cointegration using the ARDL-bounds test and causal nexus using the Toda-Yamamoto granger causality test. The cointegration result suggests the existence of a long-run relationship among the variables, while the causality test indicates that FDI causes carbon emission, whereas international trade and carbon emission influence each other. The ARDL estimates show that international trade and FDI reduce carbon emissions in the short run. However, international trade and FDI positively affect Nigeria's carbon footprint in the long run, supporting the long-run p...
Does public capital expenditure reduce energy poverty? Evidence from Nigeria
International Journal of Energy Sector Management
Purpose Given the ever-growing fiscal commitments of Nigeria and her chequered history of electri... more Purpose Given the ever-growing fiscal commitments of Nigeria and her chequered history of electricity generation and distribution, the fortunes of the energy sector in the country have been affected by the prevalence of energy poverty. Government policies such as public capital expenditure (PCE) present a crucial option for reducing energy poverty in Nigeria, providing the purpose of this study. Design/methodology/approach To investigate the relationship between government capital spending and five distinct energy poverty proxies, this research applies the Bayer–Hanck cointegration system and the auto-regressive distributed lag (ARDL) bound test. Findings The findings indicate that public capital spending in Nigeria worsens energy poverty by reducing access to electricity, urban electrification, renewable energy consumption and renewable electricity generation, with a positive but insignificant influence on rural electrification. Originality/value This inquiry presents a pioneering ...
Renewable Energy
Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public. If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.
Environmental Science and Pollution Research
This study explores the relationship between economic growth and carbon dioxide and the moderatin... more This study explores the relationship between economic growth and carbon dioxide and the moderating effect of institutional quality in Nigeria from 1990 to 2020, by employing long-run and short-run dynamic ARDL regression, quartile regression and Granger causality test for the estimation. Utilizing CO 2 per capita emissions; GDP per capita, a proxy for economic growth; capital stock (CAPSTK), proxy for capital investment in Nigeria and control of corruption and regulatory quality (COC and RGQ) which represent the effective environmental regulations and laws put in place for the control and prevention of environmental degradation, the study found a significant cointegration between CO 2 emissions and economic growth (lnGDP) in Nigeria. Furthermore, an N-shaped nexus exists between CO 2 emissions and economic growth in the long-run and short-run instead of the inverted U-shape curve postulated by the EKC hypothesis. This was confirmed by both ARDL and quartile regression results. Similarly, InCAPSTK contributed significantly to the growth of CO 2 emissions in Nigeria both in the long run and short run; although, the short run did so at 10% significant level. Contrary to expectations, control of corruption (COC) contributes significantly to CO 2 emissions in the long run, but when it interacts with income (InGDP × COC), it significantly contributes to the reduction of CO 2 emissions. More so, regulatory quality (RGQ) had no significant impact on CO 2 emissions in Nigeria either in the long run or short run, even when it interacts with InGDP. This finding is further supported by the quartile regression outcomes and Granger causality. The study therefore concludes that CO 2 emissions-economic growth nexus in Nigeria assumes an N-shape both in the long run and short run. Based on the results, the study recommends that Government should pursue industrialisation policy with sophisticated method of production that will bring about rapid economic progress and at the same time support environmental sustainability.
Socioeconomic Determinants of Information and Communication Technology Adoption Among Rice Farmers in Ebonyi State, Nigeria
The Nigerian journal of economic and social studies, 2019
Adoption and utilization of information and communication technology (ICT) is paramount for impro... more Adoption and utilization of information and communication technology (ICT) is paramount for improved agricultural productivity. This study employs a combination of descriptive statistics, logit model, and analysis of variance to examine the factors that drive ICT adoption among rice farmers in Ebonyi State, SouthEast Nigeria. A sample of 476 rice farmers was identified and selected using the snowball sampling technique. The results of the study established that degree of awareness, farmer's perception, educational attainment, income level, age, training, cost of ICT device are significant determinants of ICT adoption by farmers. On the other hand, differences in gender do not significantly determine ICT adoption. Findings also show that there are income improvements among ICT adopters. The study recommends greater focus on ICT training of farmers to improve adoption and boost rice output in the state.
KIU Journal of Humanities, Oct 9, 2017
Regular, adequate and affordable power supply, which are key indicators of improvements in econom... more Regular, adequate and affordable power supply, which are key indicators of improvements in economic welfare and by extension economic growth, are missing from Nigeria's clime hence the country faces a lot of developmental challenges including the risk of losing potential investors. This paper examined power infrastructure and electricity in Nigeria using descriptive demonstrations. Tables, charts and figures were used to provide evidences which support the huge gulf between electricity produced by the various power infrastructures and electricity demand in Nigeria. Electric power production, transmission and distribution capacities of 3,600MW, 5,838MW and 8,425MVA respectively are grossly inadequate to meet power demand of 10,000MW in Nigeria. This leaves estimated power generation, transmission and distribution deficits of 6,400MW, 3,502MVA and 6,740MW respectively. This study emphasizes that the infrastructure deficits requires about 8.1 trillion naira to finance and therefore recommends that the Nigerian government, the generating companies and the distribution companies should all make concerted efforts towards growing and developing the power infrastructure in the country. The government should also create a secure and enabling environment, free from corruption and undue interference, for the power sector to thrive and contribute positively towards improving the welfare of electricity consumers in the country.
African Development Review, 2022
Aware of the nature of deficits in the current account, fiscal account, and the financial account... more Aware of the nature of deficits in the current account, fiscal account, and the financial account balances of the countries in the sub‐Saharan Africa (SSA) region, this inquiry assessed the relationship between these deficits and the implication of such relationship for the African Continental Free Trade Area (AfCFTA). To do this, the study adopted panel data analysis techniques using the pooled mean group‐autoregressive distributed lag (PMG‐ARDL) specifications to test for the triple deficit hypothesis (TDH) in the region. The findings of the study revealed the presence of the TDH in SSA where bidirectional causality exists between current account balance and budget balance, and between saving gap and current account balance, with a unidirectional causality running from budget balance to saving gap. The adoption of sound fiscal, monetary, and trade interventions in the region constitutes the major policy recommendations.
Assessing the Risk of Fraud in Published IFRS and Nigerian GAAP Financial Reports: A Comparative Application of the Beneish Models
With the adoption of IFRS on January 1, 2012, the publicly listed companies in Nigeria had their ... more With the adoption of IFRS on January 1, 2012, the publicly listed companies in Nigeria had their existing financial reporting frameworks that were based on Nigerian GAAP (SASs) alternated with the IASB’s new accounting standards. Although the manufacturing sectors of the Nigerian economy had, prior to the adoption, shared in the after-effect of the global economic distress that was chiefly engineered by a series of corporate failures and financial scandals, the advent of the new principle-based international accounting guidelines appears to have successfully re-engaged the interest and confidence of users of financial statements in the stewardship of listed companies in Nigeria. Thus, comparatively deploying and applying the Beneish 8-factored and 5-factored variables within relevant items of the financial reports of 11 selected manufacturing companies in Nigeria for the period 2008-2013, was considered adequate to ascertain the financial reporting quality of the post IFRS published...
Education is regarded as the greatest investment that any nation can make for the development of ... more Education is regarded as the greatest investment that any nation can make for the development of its human and material resources. This paper investigated the socio-economic determinants of academic performance in Aguata local government area, Anambra state. The study made use of a qualitative response regression model to analyze the participant’s responses obtained through a well-structured questionnaire. The study presents some interesting findings. The ML-Binary logit estimation results show that parental income (PI); number of hours of study (NHS); parent educational achievement (PEA) and power supply (PS) have positive and significant impact on student’s academic performance (AP), family size (FS) has a negative and significant impact on student’s academic performance (AP) whereas residential area (RA) has positive and insignificant impact on academic performance. The correlation results show that all the variables except family size are positively correlated with student’s aca...
Transportation Infrastructure and Diversification of the Nigerian Economy: Implications for the Developmental State
ERN: Urban Infrastructure (Topic), 2017
Transportation infrastructure is indispensable for the diversification of an economy. This paper ... more Transportation infrastructure is indispensable for the diversification of an economy. This paper investigates the empirical link between transportation infrastructure and diversification of the Nigerian economy. Descriptive demonstrations are adopted to provide a situational focus to the study, while a generalized method of moment (GMM) model is specified and estimated. Findings reveal that economic diversification is a negative function of transportation concentration ratio. In the same vein, the result suggests that transportation infrastructure is a significant factor in diversifying the sectoral output share of the country and the export base of the economy from oil sector to non-oil sector. To address this, the study put forward policy suggestions to improve the effectiveness and efficiency of transportation infrastructure geared for rapid diversification of the economy.
This study is the empirical investigation of states social spending and social outcomes with spec... more This study is the empirical investigation of states social spending and social outcomes with specific emphasis on education in Nigeria. The study employed panel data from 36 states of the federation. The panel data spanned from 2009 through 2013. The study applied fixed effects and random effects models. Each of the education outcomes: total primary enrolment, total secondary enrolment, total tertiary enrolment and adult literacy enrolment were modeled against states spending on education and controlled for states spending on health and states per capita expenditure. Panel results show that states spending on education have a significant impact on total primary enrolment, total secondary enrolment and adult literacy enrolment in Nigeria using fixed and random effects but significant using only fixed effect on total tertiary enrolment in Nigeria. Therefore, it is recommended that there is the need for increase in state governments’ spending on education at all level.
PSN: Other Domestic Development Strategies (Topic), 2015
The study which focused on examining the imminent implications of translating Nigeria’s economic ... more The study which focused on examining the imminent implications of translating Nigeria’s economic performance on the nation’s unemployment problems is bent on assessing how Nigeria’s current economic status as the biggest economy in Africa has affected its rate of unemployment. Adopting data extracts from various published statistical bulletins of the CBN, SEC, and the NBS reports, the Pearson Correlation was employed in executing the analysis carried out in this study using the SPSS version 20 statistical software. The result of the analysis showed that Nigeria’s celebrated feat as the biggest economy in Africa appear yet to have had any meaningful impact on the rising/high rate of youth unemployment. This is in view of the fact that the rate of unemployment (from the analysis) maintained an increasing/upward slope status even as the economy of the country increases in growth. The study therefore recommends that a positive translation approach be deployed in ensuring that the huge o...
Population dynamics and environmental quality in Africa
Science of The Total Environment, 2021
The nexus of population dynamics and environmental degradation has been discussed widely in the e... more The nexus of population dynamics and environmental degradation has been discussed widely in the extant literature. Most related studies have utilized carbon emission as a proxy of environmental quality. However, carbon emission does not capture the multidimensional nature of environmental degradation. To fill this gap, this study utilized the ecological footprint to capture environmental degradation because it is a more dynamic environmental quality measure. The paper examines the population-environmental degradation hypothesis for five populous African countries (DR Congo, Ethiopia, Nigeria, South Africa and Tanzania) using panel information from 1990 to 2019. The Cross-sectionally Augmented autoregressive distributed lag (CS-ARDL) was employed to assess the relationship among the data - ecological footprint per capita (ECFP), population growth rate (POPG), population density (POPD), urban population growth rate (URBN), age structure of the population (AGES), per capita GDP growth rate (PGDP), energy consumption (ENEC), and trade openness (TRAD). The findings of the study revealed that POPG, POPD, AGES, PGDP, ENEC and TRAD increase environmental degradation. Urbanization (URBN) has no significant influence on environmental degradation in the selected African countries. The study concludes with policy prescriptions geared towards addressing population expansion and improving environmental quality.
Asian Journal of Economics, Business and Accounting, 2018
The value system of Nigeria's democratic process since 1999 may have been undermined by the absen... more The value system of Nigeria's democratic process since 1999 may have been undermined by the absence of good governance in the country's leadership stream. And despite the craze for unprecedented development in the country even as it dreams of becoming the 20 th best economy in the world by the year 2020, Nigeria leadership attitude to accountability, transparency and outright respect for the rule of law may after all remain a major challenge to overcome in the 21 st century. The study adopts empirical process by means of charts towards evaluating the quality of governance Nigeria may have witnessed in the post 1999 democratic regimes of Nigeria with emphasis on the annual GDP growth rate statistics, annual GDP achieved (in US$), unemployment rates as co-published by the International Monetary Fund, annual national Budget of Nigeria as published by the World Bank Group and the country's corruption perception index as rated by