International records / OpenAlex research

Testing the Robustness of Public Spending Determinants on Public Spending Decisions in Nigeria

This study tests the robustness of variables used in determining public spending in Nigeria from 1970 to 2016. This is achieved through the simultaneous use of a symmetric and asymmetric ARDL and Toda–Yamamoto causality procedures. The empirical findings reveal sufficient evidence of asymmetry in the behaviour of policy variables such as oil price, inflation rate, and the exchange rate. Hence, the conclusion that asymmetry significantly exists in key variables, used by Nigerian fiscal authorities for spending decision-making. Also, the asymmetric Toda–Yamamoto causality result reveals that inc…