The article uses a translog cost function to examine the substitution relations among capital, labour and imports. The results show that capital has a substitute relation with domestic labour and import. However, labour and import have complementary relationship. The implication of this finding...

The paper investigates Wagner's law, the nexus between government spending and national income in Nigeria over the period 1961-2009 in multivariate framework incorporating population size variable. The results provide support for Wagner's law in Nigeria. Moreover, there is a long-run relation...

The paper examines the impact of bank credit to output growth in the manufacturing and agricultural sub sectors of the economy over the period 1980-2010. Using the error correction modeling techniques, the results show that bank credit has significant impact on manufacturing output growth both...

This paper empirically investigates the exchange rate volatility-FDI nexus in selected Economic Community of West African Sates (ECOWAS) countries using time series data from 1986-2017. Using Autoregressive Distributed Lag (ARDL) model and Toda-Yamamoto (1995) causality techniques, the effects...

This paper investigates the relationship between stock prices and the real money demand for Nigeria using unit root test and the cointegration with structural break. There are five important results for narrow and broad money in Nigeria. First, there is cointegration between narrow and broad...