https://ephjournal.com/index.php/bms/issue/feed EPH - International Journal of Business & Management Science (ISSN: 2208-2190) 2019-11-25T06:47:11+00:00 Naveen Malik editor@ephjournals.com Open Journal Systems <p><strong> <span id="cell-7-name" class="gridCellContainer"><span class="label">EPH - International Journal of Business &amp; Management Science (ISSN: 2208-2190)</span></span> </strong>publishes a wide range of high quality research articles in the field (but not limited to) given below: Accounting, Advertising Management, Business &amp; Economics, Business Ethics, Business Intelligence, Business Information Systems, Business Law, Business Performance Management, Business Statistics, Change Management, Communications Management etc. <br><span style="font-size: 1.5em;"><strong> <span style="text-shadow: #ff6600 0px 0px 3px;">Current Impact Factor: 2.404</span></strong></span></p> https://ephjournal.com/index.php/bms/article/view/1581 THE EFFECT OF EXTERNAL DEBT ON THE ECONOMIC GROWTH OF NIGERIA 2000-2018 2019-11-25T06:47:10+00:00 Uzoamaka Gloria Chris-Ejiogu krisik25@gmail.com Njoku Charles Odinakachi no-reply@gmail.com Awa Stanley Kalu no-reply@gmail.com <p><em>This study examined the</em><em> effect of external debt on the economic growth of Nigeria</em><em>. </em><em>Secondary data was used for the study and it was obtained from the financial statement of the Central Bank of Nigeria for the period 2000-2018. The unit root property of the data was analyzed using the Augmented Dickey Fuller Test (ADF)and the variables were all stationary at level. In absence o cointegration Ordinary Least Square regression analysis was used to examine the effect of the independent variables on the dependent variables of the model. The </em><a href="http://en.wikipedia.org/wiki/Statistical_significance"><em>statistical significance</em></a><em> of the estimated parameters is checked by an </em><a href="http://en.wikipedia.org/wiki/F-test"><em>F-test</em></a><em> of the overall fit. The result of the regression analysis revealed that External Debt Stock (EDS) has a positive and statistically significant (p&lt;0.05) effect on Economic Growth in Nigeria.&nbsp; This is against a priori expectation. Debt Service Payment (DSP) was found to have a negative effect on Economic Growth and the relationship is statistically significant (p&lt;0.05) but not in line with a priori expectation. Government Expenditure (GEX) was found to have a positive effect on Economic Growth and the relationship is statistically significant (p&lt;0.05) and in line with a priori expectation. The value of the R-squared (0.854830) indicates that about 85.48% of the total variation in the dependent variable is explained by the independent variables. Also given that the probability value of the F-statistic (0.000002) indicates that the independent variables of the study statistically predicts the dependent variable of the study. It was concluded that external debt has not been well utilized in Nigeria. It was recommended among others that external debts should be contracted solely for economic reasons and not for social or political reasons. This is to avoid accumulation of external debt stock overtime and prevent an obscuring of the motive behind external debt.</em></p> 2019-11-25T06:45:01+00:00 Copyright (c) 2019 EPH - International Journal of Business & Management Science (ISSN: 2208-2190) https://ephjournal.com/index.php/bms/article/view/1582 EFFECT OF FISCAL AND MONETARY POLICY INSTRUMENTS ON ECONOMIC GROWTH OF NIGERIA FROM 1985-2016 2019-11-25T06:47:11+00:00 Uzoamaka Gloria Chris-Ejiogu krisik25@gmail.com Njoku Charles Odinakachi no-reply@gmail.com Awa Stanley Kalu no-reply@gmail.com <p><em>The study examined the effect of fiscal and monetary policy instruments on economic growth of Nigeria in order to determine the appropriate mix of both policies in promoting economic growth in Nigeria. Keynesian theory was adopted as the theoretical framework of the study. The study employed ordinary least square method and whereby the time series properties of fiscal and monetary variables were first examined using Diagnostic test such as Descriptive statistics of the data, followed by Augmented Dickey-Fuller unit root test and also Johansen cointegration test among the series using annual data for the period 1985-2016. Data were sourced mainly from Statistical Bulletin published by the Central Bank of Nigeria and World Bank Economic Indicator. The unit root test results revealed that all fiscal and monetary policy variables are non-stationary and attained stationarity at first and second difference. The result also showed that all the fiscal and monetary variables of interest co-integrated with the economic growth series in the country. This suggests that there is a long run relationship among fiscal and monetary variables and economic growth. The study, however, found that the current level of broad money supply, domestic interest rate, and government expenditure exerted negative influence on growth, while current level of exchange rate, and government revenue have positive effect on economic growth of Nigeria. Therefore, we recommend that fiscal and monetary policy instruments should be combined in making decisions that will promote economic growth of Nigeria both in the short and long run. The study concluded that fiscal and monetary are still complementary in promoting economic growth of Nigeria.</em></p> 2019-11-25T06:47:00+00:00 Copyright (c) 2019 EPH - International Journal of Business & Management Science (ISSN: 2208-2190)