Browsing by Author "Adenikinju, A. F."

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A computable general equilibrium analysis of policy options under the Nigeria’s National Economic Empowerment and Development strategy (NEEDS) -2
(2009-09) Iwayemi, A. P; Olofin, S. O.; Olopoenia, A. A.; Adenikinju, A. F.; Oyeranti, O. A.; Aminu, A.
The study uses a computable general equilibrium model of Nigeria to investigate the likely effects of two main policy options that will be given special consideration in the National Economic Empowerment and Development Strategy (NEEDS)-2 slated for implementation under the framework of the recently launched Seven-Point Agenda. The two policy options are the increase in the rate of value-added tax (VAT) and trade liberalisation. It is found. that an increase in VAT rate or a doubling of VAT rate for that matter will increase government revenue but this will be at the cost of a higher rate of inflation and impoverishment of poor households who are in the majority in Nigeria. This finding in part implies that the monetary authority concerned with price level stability should be on the alert whenever any attempt is made by the fiscal authority to increase VAT rate. Any attempt to liberalise trade (especially import) between Nigeria and other countries through the instrumentality of reduction in import duties' rates will boost both import and export transactions but this will at the same time reduce government revenue. One other interesting finding is that a higher percentage reduction in import duties' rates will result in a lower rate of naira depreciation and this sort of suggests that a higher percentage reduction in import duties' rates should be preferred to a lower percentage. The reduction in government revenue due to trade liberalisation implies that government will need to explore and exploit other sources of revenue to ensure sustainability of government expenditure.
Characteristics and behaviour of African factor markets and market institutions and their consequences for growth
(Center for International Development, Harvard University, 1999-12) Adenikinju, A. F.; Oyeranti, O.
This paper provides a detailed characterisation of the structure and behaviour of African factor markets and the institutions that impact on their operations. It shows that the African factor markets are imperfect and inefficient, thus constraining economic growth. The paper posits that for the current reform programmes to succeed, policy that enhances the efficiency and competitiveness of the African factor markets must be put in place.
The impact of exchange rate instability on Nigerian non-oil exports
(Faculty of Social and Management Science, Bayero University, Kano, Nigeria, 1996) Adenikinju, A. F.; Alabi, G. A.
The paper attempts to estimate the impact of exchange rate uncertainty on Nigerian non-oil exports to some of her major trading partners. Although the study generates mixed results on the impact of exchange rate instability on volume of exports, in most of the estimates there is evidence to suggest that Nigeria’s non-oil exports may have been adversely affected. The general non-significance of the exchange rate variable in the estimates also shows that the recent depreciation of the naira exchange rate may not be the overriding factor in explaining the demand for her non-oil exports. This further contradicts the claim that adopting the path of macroeconometric adjustments followed by the East Asian countries would produce the same result in all other developing countries like Nigeria.