In spite of the fact that the connection between exports of goods and services and economic growth has for quite some time been talked about, the examination of the relationship in light of recent global events such as economic policy uncertainty and geopolitical risks is yet to be given the required attention. Various empirical researches have demonstrated that the export‐led growth hypothesis (ELGH) holds for singular nations in terms of overall economic development. However, this study re‐examines the ELGH with a special focus on the absolute and mediating impact of economic policy uncertainties and geopolitical risks. With data spanning the period 1980 to 2018. Empirical results from the Autoregressive distributed lag model and the error correction models suggest that for Malaysia, Economic Policy Uncertainty (EPU) exerts a negative impact on growth evens as its moderating impact on exports leads to negative economic growth. On the other hand, the impact of Geopolitical risk on growth is both negative and positive but insignificant in the short‐run and long‐run respectively. The study suggests the government of Malaysia works to ensure macroeconomic and political stability to achieve export‐driven growth in the country.
The study investigates the effect of financial inclusion on inclusive growth in Nigeria covering the periods of 1981 to 2017. It adopts the Auto-Regressive Distributed Lag (ARDL) model, using annual series from CBN statistical bulletin and World Development Indicators (WDI). The variables adopted include; rural loan, number of bank branches, money supply-GDP ratio, private sector credit to GDP ratio and GDP per capita. The study found financial inclusion, in the form of rural loan, number of bank branches and level of liquidity have a positive and significant effect on inclusive growth in the short and long run, while interest rate impede inclusive growth. The study recommends more and improved financial services be made available to rural dwellers and the economy in general to help them participate and contribute more to national productivity. However, these financial services should be carefully monitored to make sure they are used productively. This should help reduce inequality in the country and put the country in a path of inclusive growth.
The study examines the linear and non-linear macroeconomic effect of foreign aid in Nigeria between 1970 and 2017. The macroeconomic variables considered include real GDP per capital growth, investment, real interest rate and consumer price index. It adopts the Linear and Non-Linear ARDL estimation techniques. The linear regression results show foreign aid to have no significant effect on welfare, measured by RGDPPC in the short-run and long-run. On investment however, foreign aid exerts significant positive influence both in the short-run and long-run and the impact of foreign aid on real interest rate and consumer price index is felt more in the longrun, than in the short-run. Looking into the asymmetry relationship, it was found that increase in aid significantly reduces welfare in Nigeria and decrease in aid significantly increases welfare and both positive and negative changes in aid have no significant effect on investment. Real interest rate is unaffected by increase in aid, but significantly affected by decrease in aid. Consumer price index is significantly affected by both positive and negative change in aid in short run and long run.
This venture expects to construct and program a multi-layered wisely control spy vehicle utilizing collecting strategies and python Programming. The Robot has a cutting-edge regulator that performs concurrent undertakings like low inertness top quality imaging and simulated intelligence figuring. Each wheel utilized in the Robot is a Mecanum wheel made of 12 rollers. The Mecanum wheel is an omnidirectional wheel intended for land vehicles to work toward any path. Contrasted with slip steers, Mecanum wheels have no extra erosion while going because of the more modest contact region. This Robot likewise comprises of a first-individual (FPV) camera, unequivocally constrained by the gimbal's yaw and pitch development. The gimbal's yaw uses a battery-worked gadget to address unexpected wobbles in the FPV Camera during movement with the assistance of engines and sensors. As found in the Figure underneath, the Robot likewise comprises of an improvised blaster, utilizing Drove lights to frame.
This study examines the effect of monetary policy rate (MPR) on market interest rates in Nigeria. For parsimony, we develop two indexes called the short-term interest rate (SINT) and Lending interest rate (LINT) to represent deposit and lending rates respectively. The nonlinear autoregressive distributed lag (NARDL) and threshold regression models are adopted. The study uses monthly data from 2002:M1 to 2019:M12. The results of the threshold regression model indicate that the degree of the effect of MPR on SINT and LINT above the estimated threshold of 11 and 13 percent respectively is greater and significant than if MPR were to be below the threshold. Moreover, estimates from the nonlinear ARDL model show that increasing MPR induces a positive effect on short-term and lending interest rates, while a negative effect holds if MPR is decreased. For LINT, the magnitude of the negative effect is little, while for SINT, the effect is statistically insignificant. This depicts the downward stickiness of prices, which supports the argument that the ineffectiveness of MPR only holds when it is adjusted downward. We recommend that the monetary authority should focus on reforming the banking system in ways that remove downward rigidities in the effect of MPR on interest rates in order to engender greater efficiency of monetary policy.
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