Browsing by Author "Yusuf Toyin Yusuf"

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    DETERMINANTS OF AGRICULTURAL OUTPUT IN NIGERIA
    (Al-Hikmah Journal of Arts & Social Sciences Education, 2023-12) Yusuf Toyin Yusuf
    Agriculture is seen as an important source of food for man and raw materials for agro-based industries. So as to provide bases for policies aimed at promoting agriculture, various empirical studies have been conducted with a view to identifying the determinants of agricultural production and output of the agricultural sector in Nigeria. But such studies still leave some gaps to be filled, including failure to test the the influence of government expenditure spent on agriculture (GEA) on the effect of agricultural capital stock on agricultural output. Data from the World Development Indicators, Food and Agriculture Organization and International Labour Organization were used for the estimation. The study aims to fill these gaps by adopting Cobb-Douglas production function, and we estimated two categories of equations. The study employed fully modified least squares (FMOLS) in estimating the agricultural output equations. The study found that government expenditure on agriculture (GEA), fertilizer consumption, financial development and trade openness has positive effect on agricultural output in Nigeria. Based on these findings, therefore, policy makers should target policies on inducing GEA, financial development and trade openness in order to achieve increase in agricultural output.
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    Determination of Comparative Advantage of Different Lines of Industrial Production for Export: Evidence from African Countries
    (Department of Economics and Development Studies, Faculty of Social Sciences, Federal University Dutsin-Ma, Katsina State, 2024-06-13) Yusuf Toyin Yusuf; Fatai Akosile
    There is no gain saying in the crucial importance of high and sustainable economic growth, particularly in African countries. So also is the importance of countries using trade as an engine of growth, which is to be facilitated by identifying the possible lines of production for export market where the comparative advantage lies for the purpose of allocating a country’s resources accordingly. This informs the objective of the study which is to determine the comparative advantage of different lines of industrial production for export in Africa. To achieve this objective, the study’s theoretical background rests on the neo-classical theory-based growth accounting framework and Thirlwall’s (1979) theory on the role of industrial exports. Based on this, the study specified two panel economic growth equations and they are estimated with fixed effect (FE) estimation technique. The study therefore found that the greatest comparative advantage of African countries lies in the production of non-industrial goods (NIX) for export, followed by production for exports of non-manufacturing industrial goods (NMIX) while the country has neither a comparative advantage nor a comparative disadvantage in the production of manufactured goods (MX) for export. Based on these findings, policymakers should pursue a strategy aimed at improving the production of non-industrial goods for export in preference to production of non-manufacturing industrial goods for export and refrain from manufacturing in production for export market in order to promote economic growth in the short run and switch their policies in the long run, to focus on how to have comparative advantage in manufacturing by removing those obstacles that presently militate against the current lack of comparative advantage that is observed in the study, that could have contributed to the present lack of comparative advantage.
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    IMPACT OF EXCHANGE RATE ON DOMESTIC CREDIT: EVIDENCE FROM NIGERIA
    (Faculty of Management and Social Sciences, Kwara State University, Malete, Nigeria, 2024-05-23) Yusuf Toyin Yusuf; Sodiq Olaiwola Jimoh; Felix Gbenga Olaifa; Fatai Akosile
    This study investigates the relationship between exchange rate fluctuations and domestic credit dynamics in Nigeria. Employing non-linear autoregressive distributed lag (NARDL) and linear autoregressive distributed lag (ARDL) models, this research explores the effects of Real Effective Exchange Rate (RER) on Domestic Credit (DOD) over a significant period. The findings of the non-linear ARDL analysis reveal a notable positive short-run effect of RER on DOD. Specifically, the depreciation of the naira appears to discourage market participants from assuming higher risks, resulting in a decrease in credit volumes. Conversely, an appreciation of the naira encourages market participants to take greater risks, leading toan improvement in credit volumes. However, the linear ARDL analysis demonstrates a contrasting negative effect of RER on DOD. In the context of the linear ARDL results, the appreciation of the naira seemingly discourages market participants from taking increased risks, consequently causing a deterioration in credit volumes. Based on the findings, a key policy recommendation emerges. Policymakers are advised to consider devaluing the naira to dissuade market participants from assuming higher risks, thereby potentially reducing credit volumes in the short run. This recommendation aims to address the observed dynamics between exchange rate movements and credit volumes, offering a strategic approach to influence market behaviors and credit outcomes in Nigeria's economic landscape.