The Paper re - examined co‐integration and causality relationship between energy consumption and economic growth for Nigeria using data covering the period 1970 to 2005. Unlike previous related study for Nigeria, different proxies of energy consumption (electricity demand, domestic crude oil consumption and gas utilization) were used for the estimation. It also included government activities proxied by health expenditure and monetary policy proxied by broad money supply though; emphasis was on energy consumption. Using the Johansen co‐integration technique, it was found that there existed a long run relationship among the series. It was also found that all the variables used for the study were I(1). Furthermore, unidirectional causality was established between electricity consumption and economic growth, domestic crude oil production and economic growth as well as between gas utilization and economic growth in Nigeria. While causality runs from electricity consumption to economic growth as well as from gas utilization to economic growth, it was found that causality runs from economic growth to domestic crude oil production. Therefore, conservation policy regarding electricity consumption and gas utilization would harm economic growth in Nigeria while energy conservation policy as regards domestic crude oil consumption would not. Santrauka Tyrinejamas energijos suvartojimo ir ekonominio augimo tarpusavio ryšys bei priežastingumas Ni‐gerijoje, remiantis 1970–2005 m. statistiniais duomenimis. Naujai, lyginant su ankstesniais Nigerijos tyrimais, parenkami energijos vartojimo matavimo būdai (elektros energijos paklausa, vietines naftos žaliavos suvartojimas, duju utilizavimas). Straipsnyje atsižvelgiama i socialine ir monetarine valstybes politika, kurios atspindi valstybes gerove. Pritaikius Johansen tarpusavio priklausomybes metodabuvo gauta, kad tarp visu energijos vartojima atspindinčiu rodikliu ir ekonominio augimo yra netiesioginis priežastinis ryšys. Manoma, kad elektros bei dujunaudojimo apribojimas stabdytu Nigerijos ekonomini augima, o naftos žaliavos vartojimo masto mažinimas nepaveiktu tolesnes šalies pletros.

No abstract

The Paper re - examined co‐integration and causality relationship between energy consumption and economic growth for Nigeria using data covering the period 1970 to 2005. Unlike previous related study for Nigeria, different proxies of energy consumption (electricity demand, domestic crude oil consumption and gas utilization) were used for the estimation. It also included government activities proxied by health expenditure and monetary policy proxied by broad money supply though; emphasis was on energy consumption. Using the Johansen co‐integration technique, it was found that there existed a long run relationship among the series. It was also found that all the variables used for the study were I(1). Furthermore, unidirectional causality was established between electricity consumption and economic growth, domestic crude oil production and economic growth as well as between gas utilization and economic growth in Nigeria. While causality runs from electricity consumption to economic growth as well as from gas utilization to economic growth, it was found that causality runs from economic growth to domestic crude oil production. Therefore, conservation policy regarding electricity consumption and gas utilization would harm economic growth in Nigeria while energy conservation policy as regards domestic crude oil consumption would not. Santrauka Tyrinejamas energijos suvartojimo ir ekonominio augimo tarpusavio ryšys bei priežastingumas Ni‐gerijoje, remiantis 1970–2005 m. statistiniais duomenimis. Naujai, lyginant su ankstesniais Nigerijos tyrimais, parenkami energijos vartojimo matavimo būdai (elektros energijos paklausa, vietines naftos žaliavos suvartojimas, duju utilizavimas). Straipsnyje atsižvelgiama i socialine ir monetarine valstybes politika, kurios atspindi valstybes gerove. Pritaikius Johansen tarpusavio priklausomybes metodabuvo gauta, kad tarp visu energijos vartojima atspindinčiu rodikliu ir ekonominio augimo yra netiesioginis priežastinis ryšys. Manoma, kad elektros bei dujunaudojimo apribojimas stabdytu Nigerijos ekonomini augima, o naftos žaliavos vartojimo masto mažinimas nepaveiktu tolesnes šalies pletros.

This study used panel data methods to examine the relationship between financial integration and economic growth in the COMESA and SADC regions. Using Foreign direct investment (FDI) and portfolio flows as a share of GDP, Chinn-Ito index of financial openness and debt flows as measures of financial integration, the study found that the relationship between financial integration and growth is largely insignificant in the combined sample of COMESA and SADC regions. However, the relationship changes when the two regions are separated. Whereas two of the indicators of financial integration are significant in the COMESA region, only one indicator of financial integration is significant in the SADC region implying that financial integration is more important in the COMESA region than in the SADC region. The results support the growth retarding theories of financial globalization and the convergence hypothesis in the COMESA region while the neoclassical trade theories find strong support in the SADC region. These results imply, first, that financial integration has different growth effects for different regional groupings and thus integration policies should not be universally applied. Second, these results imply that further enhancement of trade integration policies offer more promising outcomes for economic growth in the SADC region than financial integration policies while the converse is true for the COMESA region.

This study examined migrants’ remittances, public expenditure on education and their implications for educational development in Nigeria, using Secondary School enrolment rates (SSER) as a proxy for the latter for the period 1981 to 2017. The study utilised Cointegration and error correction modelling approach in order to minimise the likelihood of producing explosive regression estimates. The empirical findings of the study indicate that Migrants’ remittances received, Public expenditures on Education and Per Capita Income growth rate exert statistically significant positive impacts on educational development in the country, while the association turned negative in the case of population growth rate. The fundamental role played by both migrant’s remittances received and Public expenditures on Education in stimulating educational development was evidently established in the study. The study therefore recommends, among others, the adoption of strategic measures that will help boost the rate of school enrolment in the country by encouraging migrants’ remittances through continuous engagement of Nigerians in the Diaspora in the country’s political and socio-economic affairs, progressive increment in budgetary allocations to the nation’s education sector, as well as enhancing the per capita income of the country through investments in key sectors of the nation’s economy.