Economic Impact of Some Determinant Factors of Nigerian Inflation Rate

Zubair, Mohammed Anono; Adams, Samuel; Aniagolu, Kosarahchi Sarah

doi:10.31586/ujfe.2022.208

Cited by 4 publications

(4 citation statements)

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“…Wang et al (2020) looked at the relationship between BMI's balance of exploratory and exploitative innovation activities and the company's non-financial performance and found a favorable association. The innovativeness of an organization can increase its success (Zubair et al, 2022). There are a number of elements, including a company's business style, that might affect the correlation between risk management and financial results.…”

Section: Discussionmentioning

confidence: 99%

“…There has been an increased focus by researchers (Burström et al, 2021;Iheanachor et al, 2021;Zubair et al, 2022) on the application of business model innovation in examining the financial and non-financial performance of organizations listed on the Nigerian Exchange Group market (Enomate & Audu, 2021). Business model innovation is the finding of a basically diverse existence within an entity with the business logics to capture shareholder value (Ayuba et al, 2019;Hutahayan, 2020b).…”

Section: Business Model Innovationmentioning

confidence: 99%

“…It also requires a lot of money. Even though many businesses have a "no risk, no reward" mentality, a poorly executed business model innovation could hurt or kill a company's core operations (Zubair et al, 2022). In light of this, the following hypothesis is put forth:…”

Section: Risk Management Financial and Non-financial Performancementioning

confidence: 99%

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Risk Management Practice and Organizational Performance: The Mediating Role of Business Model Innovation

Mustapha,

Olaleye,

Yetunde

et al. 2023

J. of Law and Sust. Develop.

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Purpose: This paper examines the effect of risk management practices on organizational performance and the mediating role of business model innovation in Nigeria. Design/Methodology/Approach: This research uses quantitative research methods. The paper uses a sample of 83 employees, with data collected through an online questionnaire using a Likert scale using a scale of 5, and the data was analyzed using partial least square structural equation modeling (PLS-SEM). The stages of data analysis begin with testing the validity and reliability of the instrument, determination and finally testing the hypothesis. Findings: The results showed that practices for risk management and financial performance had a direct and large effect on financial performance. Furthermore, risk management practices are linked to non-financial performance. The result shows that business model innovation has a negative relationship with non-financial performance. It has a positive impact by meaningfully strengthening financial relationships; a partial mediating result was revealed for the relationship between risk management practices and non-financial behaviors. Practical implications: The results of this research can be used by government agencies and financial institutions to better comprehend the connection between BMI, risk management, and performance. Academics can use it to validate existing hypotheses and discover new ones. Original/Value: This research adds to the body of knowledge in the field of model development by illustrating the impact of risk management strategies and the mediating effect of business model innovation. In the Nigerian context, a lack of this might lead to inefficiencies in attaining organizational performance.

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Section: Discussionmentioning

confidence: 99%

Section: Business Model Innovationmentioning

confidence: 99%

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Risk Management Practice and Organizational Performance: The Mediating Role of Business Model Innovation

Mustapha,

Olaleye,

Yetunde

et al. 2023

J. of Law and Sust. Develop.

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“…The exchange rate, imports, exports, employment, interest rates, real gross domestic product, market capitalization, monetary policy rate, agricultural output, consumption, and investment are just a few of the major factors that have been identified as determining external reserves in Nigeria thus far. There are also numerous other studies by various researchers like; Hanson, et al, 2017;Nwosa, 2017;Zubair et al, 2022;Michael, 2017;Charles-Anyaogu, 2012;Evans and Egwakhe, 2008;Pesaran et al, 2001). It was observed that existing studies in literature have ignored the analysis of the impact of external reserves on economic growth in Nigeria while investigating the impact of foreign exchange reserves on the performance of the Nigeria economy.…”

Section: Review Of Related Literature On the Impact Of External Reser...mentioning

confidence: 99%

Modeling the Impact of External Reserves on Economic Growth in Nigeria: An Application of Autoregressive Distributed Lag

Ishaka,

Adam

2023

Bus. Econ. Dvp. Ctries.

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The article investigates the effect of foreign exchange reserves on Nigerian economic growth from 1970 and 2022. The methodology used to confirm the presence of a correlation between Nigeria’s external reserves and economic growth was the Autoregressive Distributed Lag Model Bounds Test and Error Correction Model. It was revealed that an increase in the gross domestic product was positively and significantly correlated with external reserve. The findings suggest that, over the long term, Nigeria’s external reserve, currency rate, export, import, and money supply all have a significant and beneficial impact on the country’s gross domestic product growth. However, during the study period, import, money supply, and export had more positive effects on GDP growth than external reserve and exchange rate. At a 5% level, the coefficients are statistically significant. These findings have a key consequence that external reserves are crucial for economic growth in Nigeria since they have a positive and significant link with both short- and long-term GDP growth. Given that these macroeconomic indicator variables have a large impact on GDP development, the government and other relevant organizations should develop policies that would help Nigeria increase its external reserve and achieve a stable and favorable exchange rate. Government, however, ought to concentrate on maximizing reserve building. As a result, optimal reserve is recommended in relation to the shocks the economy will experience and the debt’s existing value. The accumulation of reserves makes it necessary to pay for the importation of goods and services, infrastructural needs, agricultural needs, servicing of the country’s external debt, and financing domestic fiscal expenditure. As a result, optimal reserves will balance both economic growth and external reserves.

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Interest Rates and Inflation in Nigeria: Empirical Evidence from the Autoregressive Distributed Lag Model

Ademola,

Alalade,

Ogbebor

et al. 2023

Wseas Transactions on Business and Economics

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Policymakers and scholars continue to have extensive conversations about the relationship between interest rates and inflation in Nigeria. This is because, despite the efforts of Nigerian policymakers and regulatory authorities to achieve a high level of sustainable growth, the economy continued to witness stunted growth over the years, primarily due to double-digit inflation that continuously erodes value. In light of this, this study looked at how interest rates have affected Nigeria’s inflation rate over the last 16 years. The research design for this study is ex-post facto, using time series data for 68 quarters between Q1, 2006 to Q4, 2022. Data were obtained from the databases of the Central Bank of Nigeria (CBN), the National Bureau of Statistics (NBS), and the World Development Indicator (WDI). The study utilized the Autoregressive Distributed Lag (ARDL) model to analyze the effect of interest rates on inflation in Nigeria, while the Augmented Dickey-Fuller (ADF) and Phillip-Perron were employed for the stationarity test. The results of the analysis showed that interest rates have a long-run significant cointegrating relationship with the inflation rate (Adj R2 = 0.48; F-stat (4, 63) = 19.61 p < 0.05). The study therefore recommends that the CBN could alternate its approach to managing inflation in Nigeria by regulating the amount of money in circulation in addition to solely utilizing the interest rates through the MPR’s operation. Furthermore, since the CBN has little control over the other elements, monetary policy by itself is unable to reduce inflation in Nigeria. To guarantee the elimination of all barriers to reducing inflation in Nigeria, the report recommends that the monetary authority work in tandem with the fiscal authority and all pertinent ministries, departments, and agencies (MDAs).

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Economic Impact of Some Determinant Factors of Nigerian Inflation Rate

Cited by 4 publications

References 0 publications

Risk Management Practice and Organizational Performance: The Mediating Role of Business Model Innovation

Risk Management Practice and Organizational Performance: The Mediating Role of Business Model Innovation

Modeling the Impact of External Reserves on Economic Growth in Nigeria: An Application of Autoregressive Distributed Lag

Interest Rates and Inflation in Nigeria: Empirical Evidence from the Autoregressive Distributed Lag Model

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