DOCSLIB.ORG

DIJSER Vol. 1 No. 1 June, 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
DIJSER Vol. 1 No. 1 June, 2018 i Dutse International Journal of Social and Economic Research (DIJSER) Center for Social and Economic Research, Federal University Dutse P.M.B 7156, Dutse, Jigawa State, Nigeria Vol. 1 No. 1 June, 2018 ISSN: 2645 -3169 ii Dutse International Journal of Social and Economic Research (DIJSER) is a publication of: Center for Social and Economic Research, Federal University Dutse Jigawa State – Nigeria. For Online Access: http://fud.edu.ng/dijser.html Language: English Frequency: Bi-annual Printed by: KABOD LIMITED NL 7 Lokoja Road, Kaduna State, Nigeria. +234(0)8030628933 kabodlimited@gmail.com ISSN: 2645 -3169 Copy rights: All rights of this publication are reserved. No part of this Journal may be reproduced, stored in a retrieval system or transmitted in any form by any means without prior permission of the publisher, except for academic purposes. Note: The articles published in this Journal do not in any way reflect the views or position of DIJSER. Authors are individually responsible for all issues relating to their articles. Except for publication and copy rights, any issue arising from an article in this Journal should be addressed directly to the Author. ii ABOUT DIJSER DIJSER is a peer-reviewed and professional journal that publishes review and scholarly research articles in all areas of social and economic arena. The journal is a forum for scholars from around the globe to share their research experiences for the advancement of social and economic issues. As a multi-disciplinary journal, it focuses on social and economic development issues ranging from society, culture, politics, education, gender, poverty, inequality, social security, health and to other socio-economic aspects of the society in general. iii EDITORIAL BOARD Prof. Ummu A. Jalingo Department of Economics, Bayero University Kano, Nigeria. Prof. Ibrahim Ahmed Kiyawa Department of Economics, Federal University Dutse, Jigawa - Nigeria. Prof. Salisu A. Abdullahi Department of Sociology, Federal University Dutse, Jigawa - Nigeria. Prof. Amina Bashir Department of English, Federal University Dutse, Jigawa - Nigeria. Prof. Khalid Suleiman Department of Sociology, Usman Danfodio University Sokoto, Nigeria. Prof. Habu Muhammad Fagge Department of Political Science, Bayero University Kano, Nigeria. Prof. Muhammad Liman Department of Accounting, Bayero University Kano, Nigeria. Prof. Hassan Bulami Department of Economics, University of Maiduguri, Nigeria. Prof. Mohd Zaini Abd Karim Department of Economics, Universiti Utara Malaysia iv CALL FOR PAPERS DIJSER invites review and scholarly research articles from authors all over the globe. The journal is accepting papers all year around for consideration into publication in its bi-annual journal. There is no specific deadline for submission, articles submitted up to 31st May will be published in July issue, while articles submitted up to 31st October will be published in December issue. DIJSER publishes peer-reviewed original research papers, case studies, review articles and technical notes relating to social-economic issues. The journal allows free access to its contents, which attracts more readers and citations to articles published in DIJSER. AUTHOR GUIDELINES Authors are highly encouraged to read the following guidelines carefully before submitting the manuscript: 1. The Journal accepts only original and innovative submissions written in English on the understanding that the work has not been unpublished and is not being considered for publication elsewhere. 2. The Original Research article should include Title, Authors‘ names and their affiliations, Abstract, Keywords, Introduction, Literature Review, Methodology, Results & Discussion, Conclusions, and References. The complete paper should have a more than of five-six sections. 3. When submitting papers for potential publication in the DIJSER, please submit an original editable file in MS-WORD format. All figures, images, tables, appendices, references etc., should be embedded into the original file. The entire manuscript should not exceed 15 pages long. 4. Authors accept the terms of Honor Code and Plagiarism Statement for Paper Submission, and that the paper is original research contribution with the references properly cited in the manuscript using APA referencing style. 5. Manuscripts should be type written in Times New Roman, font size 12, Title shall be in a font size 14. All section titles shall be in font size 12, bold face in capital letters. Subtitles in each section shall be in font size 12, bold face lower case followed by a colon. Double spacing all portions of the manuscript and margins 2.5 cm each side. 6. The full formatted manuscript should be submitted electronically in a single MS- Word file attachment to cser@fud.edu.ng . Each submission of an article attracts a nonrefundable assessment and review fee of N3,000. Manuscripts that passed the assessment and review process may be sent back to authors for a minor or major correction. Final accepted manuscripts for publication in DIJSER are subject to a payment of N15,000 publication fees. Both payments should be made into the following Bank Account at any branch of the Fidelity Bank nationwide. Note in making the payment, after the depositor name, this account number should be added - 1100008649 (e.g. Author’s name/ 1100008649). Account Name: FUD Microfinance Bank Account Number: 4011006737 Fidelity Bank v EDITORIAL CONTACT The Editor in Chief Prof. Ummu A Jalingo, Director CSER, Journal of Social and Economic Research, Center for Social and Economic Research, NDIC Building, Federal University Dutse, Ibrahim, Aliyu By-pass, P.M.B 7156, Jigawa State, Nigeria. Email: or ummujalingo@gmail.com Managing Editor Abubakar Hassan, Research Assistant, Center for Social and Economic Research, NDIC Building, Federal University Dutse, Ibrahim, Aliyu By-pass, P.M.B 7156, Jigawa State, Nigeria. Email: abubakar.hassan@fud.edu.ng For Manuscript Submission/ Inquiry: Email: cser@fud.edu.ng Phone Number: +2348030676264 vi Dutse International Journal of Social and Economics Research Vol. 1, No. 1 June 2018 Modelling Monetary Policy Impact on Nigerian Economy: An ARDL approach *Abubakar Hassan1 & Prof. Ummu A Jalingo2 1Department of Economics & Development Studies, Federal University Dutse. 2Department of Economics, Bayero University Kano *Corresponding Author‘s email: abubakar.hassan@fud.edu.ng Abstract: This paper is set up to model the impact of monetary policy on economic growth in Nigeria using annual time series data covering the periods of 1985 to 2016. The paper applies the ARDL bounds testing co-integration approach in investigating the long -run and short -run dynamics between monetary policy and economic growth. The results of the Bound test for conintegration show that there is no long-run relationship between growth rate of real GDP and monetary policy variables in the case of Nigeria. But, in the short run, broad money supply (M2) was found to be positively related to real GDP and the relationship is statically significant at 5% level. Similarly, Cash reserve ratio (CRR) and loan to deposit ratio (LDR) were found to have positive and negative impact on real GDP, respectively. And these findings are consistent with the theoretical expectations and lend empirical support to the monetarists view that ‗money matters at least in the short run‘. The implication of these findings is that, the monetary policy has an impact on real GDP in Nigeria, at least in the short run. Thus, the study concluded that the CBN can use its monetary policy to stabilize output and price in the short run. In line with these findings, the study recommended that the monetary authority should use the quantity-based anchor (M2) when it want to stabilize economic activities in the country. Keywords: Monetary Policy, Money Supply, Interest Rate, Co-integration, Nigeria. JEL Classification: C51, E52, E58, F43 1.0 Introduction The investigation into the relationship between monetary policy variables and real macroeconomic variables is one of the oldest areas in the history of macroeconomic theory. This area has attracted the interest of many academicians, economists as well as policy makers even though it is one of those areas where extensive theoretical and empirical researches have been carried out. Quoting some pioneering researchers in this field, Bernanke and Gertler (1995) asserted that ―the impact of monetary policy on the real economic variables has been a contentious area of debate in macroeconomics‖. The main reason for this is that- there is a serious dispute among the vast majority of economists and even among the theoretical thinkers about the actual and magnitude of monetary policy impact on real economic activities and how it is transmitted. Some believe that money does not matter and monetary policy is ineffective of influencing real economic variables such as employment, and real output (economic growth). While others claim that money matters and monetary policy can influence real economic activities at least in the short run and again there are those in between these two opponents who believe that the link between money and output is actually reverse causation not the other way round. 1 Dutse International Journal of Social and Economics Research Vol. 1, No. 1 June 2018 Various schools of economic thoughts identify a number of different channels of transmission mechanism of monetary policy. The monetarists led by the Milton Friedman posit that money matters and argue that monetary policy is transmitted through either
Load more

Recommended publications
  • The Evolving Muslim Community in America
    The Evolving Muslim Community in America: The Impact of 9/11 , I . Haquel Ukeles , , The Evolving Muslim Community in America: The Impact of 9/11 Raquel Ukeles . MOSAICA np'l<lllJ Mosaica - Research Center for Religion, State and Society 4 5 The Mosaica library, published Table of Contents by Mosaica - Research Center for Religion, Society and State, . Executive Summary ................................................................ 7 aims to provide the public with Introduction....................................................................... 11 an insight into the basic issues concerning contemporary I. Background ..................................................................... 13 religious philosophy and the History ............................................................................ 13 relationship between religion Population Estimates and Demographics .......................................... 16 and state. Community Life and Muslim Organizations .................................... .. 21 Editor: Dr. Aviad Hacohen ll. American Muslim Responses to 9/11- A Chronology of the Rrst Year .. 26 Early Reactions by individuals .................................................... 26 Early Organizational Responses ..................................................,.31 Emergence of New Post-9/ll O/llanizations .................................... 33 Mid-year Responses - Turning Inward ... ................................... ...... 36 One Year Later and Beyond ............ , , ........ , ......... , ..................... 39
    [Show full text]
  • Rendition and the “Black Sites”
    Chapter 5 Rendition and the “Black Sites” Between 2001 and 2006, the skies over Europe, Asia, Africa and the Middle East were crisscrossed by hundreds of flights whose exact purpose was a closely held secret. Sometimes the planes were able to use airports near major capitals, while on other occasions the mission required the pilots to land at out-of-the-way airstrips. The planes were being used by the CIA to shuttle human cargo across the continents, and the shadowy air traffic was the operational side of the U.S. government’s anti-terrorist program that came to be known as “extraordinary rendition.” After the September 11, 2001, terrorist attacks, the Bush administration resolved to use every available means to protect the United States from further attack. The extraordinary rendition program, used previously by President Bill Clinton, quickly became an important tool in that effort. In the years since, numerous investigations and inquiries have found evidence of illegal acts in the form of arbitrary detention and abuse resulting from the program. These, in turn, have led to strained relations between the United States and several friendly countries that assisted the CIA with the program. The program was conceived and operated on the assumption that it would remain secret. But that proved a vain expectation which should have been apparent to the government officials who conceived and ran it. It involved hundreds of operatives and the cooperation of many foreign governments and their officials, a poor formula for something intended to remain out of public view forever. Moreover, the prisoners transported to secret prisons for interrogations known as “black sites” would someday emerge.
    [Show full text]
  • Social Media Marketing Acceptability Among Restaurants on Customers Relationship in Katsina State, Nigeria
    SOCIAL MEDIA MARKETING ACCEPTABILITY AMONG RESTAURANTS ON CUSTOMERS RELATIONSHIP IN KATSINA STATE, NIGERIA BY USMAN LAWAL A. MANI (MSc HOSPITALITY MANAGEMENT) (T130F/29107/2014) A THESIS SUBMITTED IN FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF DOCTOR OF PHILOSOPHY OF HOSPITALITY MANAGEMENT IN THE SCHOOL OF HOSPITALITY, TOURISM AND LEISURE STUDIES OF KENYATTA UNIVERSITY. JULY, 2020. ii DECLARATION PAGE “This Thesis is my original work and has not been presented for a degree in any other University.” Signature_____________________ Date __________________ Usman Lawal A. Mani - T130F/29107/2014 Supervisors: This Thesis has been submitted for examination with our approval as University supervisors: Signature _____________________ Date _____________________ Dr. Rosemarie Khayiya Department of Hospitality, Tourism and Leisure Studies Kenyatta University Signature ______________________ Date ____________________ Dr. Mary Mutungi Department of Hospitality, Tourism and Leisure Studies Kenyatta University iii DEDICATION This work is dedicated to my Parents Alhaji Lawal A. Mani and Mrs. Zainab Lawal A. Mani who sponsored my education and gave me all the necessary guidance to see the sense of learning. May Allah S.W.T. reward you with Jannatul Firdausi, Ameen. It is also dedicated to my family specifically my wives, Khadija Ahmad Rufa’i and Firdausi Dauda Mani, my children Khadija, Kabir, Hassan, Hussaini, Hindatu, Usman, Dawood and Hafsat who bears the pains of my absence during the period of my study. I love you all, and I pray for the achievement to be beneficial to you all. iv ACKNOWLEDGEMENT I would like to acknowledge my supervisors Dr. Rosemarie Khayiya and Dr. Mary Mutungi without whom I would not have had the courage and strength to embark on this journey.
    [Show full text]
  • Kenya's Changing Counterterrorism Policy: from the Unsecuritization To
    Kenya’s Changing Counterterrorism Policy: From the Unsecuritization to the Securitization of Terrorism Doreen Alusa BA (Hons), MA (IR) This thesis is presented in candidacy for the degree of Doctor of Philosophy at Murdoch University, 2019 Declaration I declare that this thesis is my own account of my research and contains as its main content work which has not previously been submitted for a degree at any tertiary education institution. ………………………………………………. Doreen Alusa November 11, 2019 ………………………………………….……. Date ~ i ~ Abstract This study investigates why Kenya, unlike other states around the world, did not enact anti- terrorism legislation that would have enabled it to have counterterrorism measures in the aftermath of 9/11 and only did so in 2012. Previous studies argue that concerns about the negative effects of anti-terrorism laws on Kenya’s nascent democratic system and its civil liberties were the main reasons why Kenya’s government could not enact proposed anti- terrorism legislation in 2003 and 2006. However, these studies do not explain why those who had previously opposed anti-terrorism legislation supported the enactment of an anti- terrorism law in 2012 even though their views about the importance of civil liberties and democracy had not changed. Similarly, previous studies which suggest that Kenya enacted anti-terrorism legislation in 2012 because of the detrimental effects of terrorism on the country’s security and economic interests do not explain why these factors did not elicit the same response in 2003 and 2006. Departing from previous studies, this research hypothesises that Kenya’s enactment of counterterrorism measures was dependent on consensus building among the country’s executive and legislative arms of government.
    [Show full text]
  • UNIVERSITY of NAIROBI Institute of Diplomacy and International
    UNIVERSITY OF NAIROBI Institute of Diplomacy and International Studies Kenya’s Foreign Policy Behaviour: Response to International Terrorism, 1998-2012 By Kimeli Hilary Tiony Reg. No: R51/68725/2011 Supervisor: Amb. Prof. Maria Nzomo A Research Project submitted to the Institute of Diplomacy and International Studies in partial fulfillment of the requirements for the award of the Degree of Master of Arts in Diplomacy of University of Nairobi. September 2013 DECLARATION I Kimeli Hilary Tiony hereby declare that this research project is my original work and has not been presented for a degree in any other University. Signed: _______________________________ Date _______________ This project has been submitted for examination with my approval as University Supervisor. Signature:_______________________________ Date___________________________ ii ABSTRACT Terrorism and measures to combat it have become the focus of passionate international effort. The study seeks to investigate Kenya’s foreign policy behavior in response to international terrorism with reference to the period 1998 to 2012. This paper seeks to evaluate the response of Kenya’s foreign policy towards international terrorism between the periods 1998 to 2012. The study uses both qualitative and quantitative methods of data analysis. The population of the study comprises the officials from the ministry of foreign affairs, and Counter-Terrorism Centre. A purposive sampling technique was used to select a total 17 officers from the two study areas. The study uses data from both primary and secondary data. Primary data was obtained through semi-structured questionnaires with both open and closed ended questions. Secondary sources of data include analysis and review of published books, journals, papers, periodicals, and unpublished works; Government documents including policy documents and Sessional Papers, media sources and the internet.
    [Show full text]
  • International Court of Justice Appeal Relating To
    INTERNATIONAL COURT OF JUSTICE APPEAL RELATING TO THE JURISDICTION OF THE ICAO COUNCIL UNDER ARTICLE 84 OF THE CONVENTION ON INTERNATIONAL CIVIL AVIATION (BAHRAIN, EGYPT, SAUDI ARABIA AND UNITED ARAB EMIRATES v. QATAR) MEMORIAL OF THE KINGDOM OF BAHRAIN, THE ARAB REPUBLIC OF EGYPT, THE KINGDOM OF SAUDI ARABIA, AND THE UNITED ARAB EMIRATES Volume III of VII Annexes 22 – 24 27 DECEMBER 2018 LIST OF ANNEXES VOLUME III ICAO pleadings Annex 22 Request for the Intervention of the ICAO Council in the 543 Matter of the Actions of the Arab Republic of Egypt, the Kingdom of Saudi Arabia, the United Arab Emirates and the Kingdom of Bahrain to close their Airspace to aircraft registered in the State of Qatar, attaching Application (1) of the State of Qatar, Complaint Arising under the International Air Services Transit Agreement done in Chicago on December 7, 1944, and Application (2) of the State of Qatar, Disagreement Arising under the Convention on International Civil Aviation done in Chicago on December 7, 1944, 8 June 2017 Annex 23 Application (A) and Memorial of the State of Qatar 587 Relating to the Disagreement on the Interpretation and Application of the Convention on International Civil Aviation (Chicago, 1944), 30 October 2017 Annex 24 Preliminary Objections of the Arab Republic of Egypt, 611 the Kingdom of Bahrain, the Kingdom of Saudi Arabia and the United Arab Emirates in Re Application (A) of the State of Qatar Relating to the Disagreement Arising under the Convention on International Civil Aviation done at Chicago on 7 December 1944,
    [Show full text]