Journals
Online ISSN: 2519-9730 | Print ISSN: 2523-0565
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Volume 7 Number 3 September 2022
Impact of Government Educational Expenditure on the Usage of Digital Financial Services in Nigeria
Pages: 60-70Authors: Gbenga Festus Babarinde*
Abstract
Education is an eye-opener and as such expenditures on education either by government or private individuals are expected to expose people to new frontiers of knowledge and ability. In a digital era that we are, digital financial literacy is part and parcel of the package called education but the extent to which government expenditures on education have affected (improved or discouraged) the usage of digital financial services is a burning issue of concern to researchers, policy makers, educationists and the public at large. In this study, an attempt was made to examine the impact of government educational expenditure on the usage of digital financial services in Nigeria between 2009Q1 and 2019Q4. Using Vector Autoregression (VAR) technique and correlation test, this study establishes the existence of a positive and strong correlation between government educational expenditure and digital financial services in Nigeria but the impact of the former on the latter, though positive but was statistically insignificant in the period of the study. It is concluded that government educational expenditure in Nigeria has not made significant impact in promoting the usage of digital financial services in the country despite the positive association between the two. It is therefore recommended that Nigerian Government should see to the creation of a special educational fund for digital financial literacy. Digital financial literacy should also form part of the compulsory courses/subjects in all schools, colleges and universities just like the way entrepreneurship education is in Nigeria.
The Monetary Policy Shocks and the Price of Selected Oil Commodity Groups in Iran
Pages: 51-59Authors: Arash Ketabforoush Badri
Abstract
Examining the dynamics of oil commodity prices at different time periods is of particular importance, as fluctuations in commodity prices can be a serious problem for policymakers. Monetary policy shocks are among the factors that can affect the price of petroleum products. Therefore, identifying as accurately as possible the factors affecting price changes can be of great help to policymakers. Due to this, the purpose of the present study is to investigate the effect of monetary policy shocks on price dynamics of selected petroleum products group in Iran using SVAR model in the period of 2011-1 to 2020-4. Selected petroleum products include sulfur, slack wax oil and bitumen. The results showed credits payment has the greatest effect on the price of sulfur, slack wax and bitumen. The highest impact of monetary policy shocks with 81.63 percent is related to bitumen and the lowest impact with 48.56 percent is related to slack wax. Therefore, it can be said that monetary policy shocks have the greatest impact on the price of bitumen in the long run.