Department of Economics

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Browsing Department of Economics by Author "Adedokun, A.S."

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  • Item
    Open Access
    Fiscal Federalism and the Growth of Nigerian Economy (1980 – 2004)
    (International Journal of Social Sciences, 2010) Saibu, O.M.; Adedokun, A.S.
    The paper examined the relative effects of State and Federal government share in expenditure and revenue on economic growth in Nigeria with a view to investigating the relevance of fiscal federalism to the overall economic performance in Nigeria using data from 1980 to 2004. Using annual time series data from 1980-2004 a modified Solow’s model was specified and estimated to draw policy inferences The time series properties of the variables were also examined to avoid spurious regression The result showed that there was significant difference in the effects of state government shares and federal government shares on economic growth. Specifically, while state government shares had positive (albeit) insignificant, the federal share had positive and significant effects on economic. The causality test further showed that the sate government fiscal activities were more important than the federal government fiscal More importantly, the result also revealed that the share of the State and local government in the federation account is far less that than the assigned fiscal responsibility. The imbalance has affected the economic development level in Nigeria and this might accounted for the low economic performance experienced over the years despite concerted effort to redress this trend through various economic reforms agenda. The conclusion of the paper is that more fiscal power should be devolved to the state and an effective mechanism should be put in place to ensure that resources are efficiently utilised in all tiers of government without political prejudice
  • Item
    Open Access
    Governance, Macroeconomic Convergence and Development in West Africa Monetary Zone
    (FULafia Journal of Social Sciences, 2019) Adedokun, A.S.; Olumide, I.O.; Iwegbu, O.
    The study interrogated the relevance of governance for macroeconomic convergence criteria and development in West Africa Monetary Zone (WAMZ) comprising Gambia, Ghana, Guinea, Nigeria and Sierra Leone. The methodology of the study involved the Fully Modified Ordinary Least Square regression using time series data (1996 – 2015) from five countries. The study used five proxies for governance variables, namely, control of corruption, rule of law, government effectiveness, political stability and attraction of investment. The results showed that government effectiveness and political stability did not enhance economic development. the result revealed that rule of law and government effectiveness have appreciably enhanced economic development but control of corruption, political stability and investment attraction have not. The study concluded that for WAMZ to achieve the macroeconomic convergence and stability within its fold, there is need for quality representative democracy that will work through institutional reforms and deliver set targets within and across the member states. The fight against the dark spectra called corruption must be won within a reasonable time frame through strengthening of existing institutional arrangements that are saddled with the responsibility of promoting transparency in public domain.