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Title: Economic growth, poverty and income inequality matrix in Nigeria: a further investigation
Authors: Okafor, H.O.
Keywords: Variance decomposition
Impulse response function
Macroeconomic stability
Issue Date: Mar-2016
Publisher: Central Bank of Nigeria, Research Department
Citation: Okafor, H.O. (2016). Economic growth, poverty and income inequality matrix in Nigeria: a further investigation. Economic and Financial Review, 54(1), 25-42.
Series/Report no.: Vol. 54;No.1
Abstract: This paper examined the existing relationship among economic growth, poverty and income inequality in Nigeria. Using the Vector Auto-regressive (VAR) model and the Engle-Granger technique to test for the causality existing among the variables, the results revealed that economic growth had no impact on poverty reduction and income distribution in Nigeria due its non-inclusive nature. There was, however, evidence of a unidirectional causality, running from income inequality to increased poverty. This implied that inequality would lead to increase in poverty in Nigeria. Therefore, the paper recommended that govemment should develop stronger economic institutions that ore capable of reorganising the productive base and reward system in the economy so as to promote and guarantee economic efficiency, equity and macroeconomic stability and inclusive growth.
ISSN: 1957 - 2968
Appears in Collections:Economic and Financial Review

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