Impacts of Fiscal Policy Components on Economic Growth in Nigeria : An Empirical Trend Analysis
Impacts of Fiscal Policy Components on Economic Growth in Nigeria : An Empirical Trend Analysis
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财政政策组成部分对尼日利亚经济增长的影响：实证趋势分析
DOI：
10.12816/0018886
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发表时间：
2014
期刊：
影响因子：
--
通讯作者：
O. J. Onwe
中科院分区：
文献类型：
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作者：
O. J. Onwe
财政政策在新兴经济体发展中的作用一直是经济文献关注的一个主要问题。然而，这一领域的大多数研究都集中在西方世界的工业化国家，很少或根本没有提到发展中国家的新兴经济体。因此，本研究的目的是通过研究财政政策组成部分和支出对尼日利亚经济增长的影响来弥合这种差距。指导性问题是联邦政府在财政部分的支出是否对尼日利亚经济的增长产生重大影响。在方法上，本研究首先使用平稳性检验和协整检验的单位根检验来检查相关时间序列的特征。我们的分析是基于三个模型：基线模型;对数线性模型;和滞后模型，其中每一个都是为了实现本研究的目的。分析结果表明：（一）存在单位根问题，因此，非平稳时间序列的相关回归变量;（二）非积极的影响，联邦支出的经济服务和转移支付的增长，尼日利亚经济;（三）观察到的积极影响，联邦支出的行政管理，以及社会和社区服务的经济增长。根据这些意见，研究报告提出以下建议：第一，制定有效和可执行的政治、社会和经济稳定政策方案;第二，对政府在农业、建筑、运输和通信等经济服务方面的支出与尼日利亚经济进步之间的关系进行深入的学术研究;以及联邦政府在其财政政策中特别强调行政、社会和社区服务，因为这些财政组成部分对尼日利亚经济的发展具有潜在的投入。
The role of fiscal policies in the development of emerging economies has been a major source of concern in economic literature. Majority of studies in this area have however, concentrated on the industrialized countries of the Western World, with little or no reference to the emerging economies of the developing countries. This study aims therefore, at bridging such gap by looking at the impact of fiscal policy components and expenditures on them on growth of the Nigerian economy. The guiding question is on whether federal government expenditures on fiscal components have significant impacts on growth of the Nigerian economy. Methodologically, the study began by examining the characteristics of the relevant time-series using the unit root tests of stationary and co-integration tests. Our analysis was based on three models: a baseline model; a log linear model; and, a lagged model, each of which was designed to achieve the aim of this study. The analytical results suggest as follows: (i) existence of unit root problems hence, non-stationary time series on the relevant regression variables; (ii) nonpositive impacts of federal expenditures on economic services and transfer payments on growth of the Nigerian economy; and (iii) observed positive impacts of federal expenditures on administration, as well as social and community services on economic growth. Based on these observations, the study recommends as follows: first, institution of effective and implementable political, social, and economic stabilization policy programmes; second, an in-depth scholarly study on the relationship between government expenditures on such economic services as agriculture, construction, transport and communication and economic progress in Nigeria; and, the federal government to lay special emphasis on administrative, social and community services in its fiscal policies, as these fiscal components have potential inputs to development of the Nigerian economy.