Corruption is one of the main causes of inefficiency and poor productivity. This chapter looks at the relationship between banking failure, corruption, financial development, and economic growth in Nigeria during the period from 1989 to 2019. The work uses the autoregressive distributed lag (ARDL) cointegration and error correction model and the Granger causality test for the analysis of data. The results of the empirical analyses show a negative relationship between corruption and both financial development and economic growth. This shows that corruption is bad for both the financial sector and the economy. The result also shows that corruption is a good reason for causing bank failures in Nigeria. Hence, for financial development and economic growth, corruption must be reduced as much as possible if not eliminated. It is recommended to put the fight against all forms of corruption in Nigeria in top gear.
This chapter's main objective is to critically analyze the phenomenon of corruption in Africa, and in the process highlight some major cases of corruption in the continent, describe the evolutions of the phenomenon, as well as recommend some possible ways and mechanisms for fighting the menace. The study looks at figures from Transparency International and United Nations Human Development Index and juxtaposed them with the changing dynamics of corruption in Africa. The method of study is critical analysis of individual cases, Africa corruption ranking and reviews of relevant empirical literature dealing with corruption in Africa. The study also adopts phenomenology as a study tool. Thus, the study relied heavily on secondary sources of information. The summary of the findings of the chapter shows the problem of corruption in Africa as endemic; something that has entered all the major sectors of modern African society.
Production patterns around the world have been significantly affected by international trade. Hence, countries have taken advantage of trade to produce for export what is not required by the domestic economy. This explains the large export dependence nature of some economies around the world. Global trade is associated with increase in worldwide standards of living because it sets in motion a worldwide division of labour and materials. This paper measures the factors that influence export in Nigeria. It measures the influence of factors such as exchange rate, inflation, interest, domestic saving, financial development, domestic credit to private sector, trade openness, per capita income, Foreign Direct Investment (FDI), gross capital formation, national debt, agricultural output, manufacturing, electricity supply, physical capital and government expenditure. The paper used ARDL Error Correction Model for the analysis of the data. Data was collected for the period 1989 to 2019. The results of the analysis show that saving, interest rate, domestic credit, trade openness, per capital income, agriculture and manufacturing are favorable to export in Nigeria. But, inflation, exchange rate, FDI and government expenditure are not favorable to export. The negative relationship with FDI may be as a result of the fact that most FDI coming to Nigeria are not going to the export sector. Government expenditure also may not be targeting the export sector, instead focusing on the domestic economy. The paper recommends that Nigerian government shall further support domestic saving to private sector, provide more credit to the export sector and adopt policies that boost trade openness. In addition, government shall further develop agricultural and manufacturing sectors that serve as the core of Nigerian export sector. Nigeria government shall very well manage such macroeconomic variables as interest rate, inflation and exchange rate to ensure that they are not harmful to export.
The main purpose of the chapter is to find out the effects of renewable energy on economic growth and household consumption in Nigeria. Renewable energy supply and environmentally sustainable consumption are key ingredients in achieving sustainable economic growth and development all over the world. The chapter aims at highlighting the positive contributions of green energy to sustainable consumption and economic growth. The main methods of analysis for the study are Granger causality tests, VAR impulse response function, and Variance decomposition. The findings show strong links between renewable electricity supply, economic growth, and household consumption in Nigeria. This was expected a priori, as overwhelming empirical and theoretical literature has attested to the effects of renewable electricity on economic growth of other nations around the world.
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