From Counting Wars to Accounting for Peace: Implications for Economic Growth in Nigeria
DOI:
https://doi.org/10.26740/jaj.v14n2.p148-160Keywords:
GDP, Sustainability;, Defense spending;, Economic growth, Peace accountingAbstract
This study examined the effect of Peace Accounting on Economic Growth in Nigeria. The study adopted an ex post facto research design for a period of 30 years (1991-2020). Descriptive and inferential statistics were used to analyze the gathered data. The degree of relationship among variables was analyzed using Error Correction Model (ECM) after preliminary analyses were done such as the unit root test and Johansen co-integration because of the use of Time series data. The results show that at a significance level of five per cent, the data demonstrated a significant and positive correlation between the two variables. In addition, the findings of the research indicate that there is a substantial and favourable correlation between the independent factors (Peace accounting) in Nigeria and the dependent variables (Economic growth) in Nigeria. The study thereby recommends that there should be an increase in government recurrent expenditure to cover defence infrastructures in the economy as well as fund activities and programs that will directly improve the lives of the people. It also recommends that exposing corrupt actions, maintaining openness and accountability in the public sector, and preventing dishonest acts might help lower the high rate of corruption.
References
Apanisile, O. T., & Okunlola, O. C. (2014). An empirical analysis of effects of military spending on economic growth in Nigeria: A bound testing approach to co-integration 1989-2013. Journal of Public Administration, Finance and Law, 6(6), 117-130.
Arong, F. E., & Ikechukwu, E. M. (2013). The effect of the cost of militancy and unrest or peace accounting on the productivity of private organisations in Nigeria. International Journal of Public Administration and Management Research, 2(1), 87-100.
Asuquo, A. I., Dickson, E. D., Emechebe, C. B., & Ebri, O. U. (2016). Accounting implications of cost involvement in peacekeeping on the economic growth of Nigeria: The case of Niger Delta. International Journal of Economics, Finance and Management Sciences, 4(5), 275-283.
Ballet, J., & Bhukuth, A. (2017). On the Concept of Altruism 1. In Positive Ethics in Economics (pp. 23-40). Routledge.
ECA (2020), Economic Impact of the COVID-19 on Africa, http://www.uneca.org/sites/default/files/uploaded-documents/stories/eca_analysis_-_covid-19_macroeconomiceffects.pdf
Edeme, R. K., & Nkalu, C. N. (2019). Growth and fiscal effects of terrorism in Nigeria. In The Impact of Global Terrorism on Economic and Political Development. Emerald Publishing Limited.
Edesiri, O. G., & Amaechi, E. P. (2016). Cost of peace accounting and national security in Nigeria: does it really matter? Trends Economics and Management, 10(27), 49-56.
Ezuwore-Obodoekwe, C. N., Ozoji, A. P., Modum, I. E. C., Anisiuba, C. A., Okonkwo, M. C., & Ojiakor, I. P. (2021). The impact of peace-accounting on economic development of Nigeria. Academy of Accounting and Financial Studies Journal, 25(5), 1-9.
Hassan, B. D., Fausat, A. F., & Baba, Y. A. (2016). The imperative of peace and security for the attainment of inclusive growth in Nigeria. European Journal of Research in Social Sciences, 4(2).
Ibrahim, I. D., Hamam, Y., Alayli, Y., Jamiru, T., Sadiku, E. R., Kupolati, W. K., & Eze, A. A. (2021). A review on Africa energy supply through renewable energy production: Nigeria, Cameroon, Ghana and South Africa as a case study. Energy Strategy Reviews, 38, 100740.
Ijeoma, N. B. (2014). Impact of cost of conflict on economic development in Nigeria. International Journal of Open Scientific Research IJOSR, 2(1), 13-31.
Kiabel, B. D., FCTI, C., Nangih, E., & FCTI, A. (2018). Influence of Peace and Effective Community Policing on Performance of Oil and Gas Companies in Nigeria. Journal of Accounting and Financial Management ISSN, 4(8), 2018.
Kimanuka, O. (2018). Why peace and security are essential enablers of development.
Kimenyi, M. S. (2013). The Politics of identity, horizontal inequalities and conflict in Kenya. In Preventing Violent Conflict in Africa (pp. 153-177). Palgrave Macmillan, London.
Kiryukhin, D. (2021). The Philosophical Process In Post-Soviet Ukraine.
National Bureau of Statistics, (2021). Nigerian gross domestic product. Report Q1.
Nwaoha, W. C., Onwuka, O. O., Okoro, M. K., Chukwu, M. K., & Chukwu, P. C. (2020). Security spending and economic growth: The Nigeria experience. Academic Journal of Current Research, 7(11), 48-58.
Okere, W., Isiaka, M., & Ogunlowore, A. J. (2018). Risk management and financial performance of deposit money banks in Nigeria. European Journal of Business, Economics and Accountancy, 6(2), 30-42.
Okoro, G. E., & Egberi, A. K. (2020). Peace accounting and its implication on economic growth: An autoregressive conditional Heteroskedasticity approach. Journal of Advanced Research in Management, 10(20), 70-74.
Omoyibo, K. U. (2012). Marxism and the Nigerian state. European Scientific Journal, 8(11), 20-33.
Oyerinde, A. A., & Fagboro, D. G. (2020). Military expenditure, institutional quality and economic growth in Nigeria. Global Journal of Accounting, 6(1), 41-52.
Ruzvidzo, T. (2020). The economic impact of COVID-19 on African cities likely to be acute through a sharp decline in productivity, jobs & revenue. Economic Commission for Africa (ECA)(Online).
Stiglitz, J. E., & Bilmes, L. J. (2012). Estimating the costs of war: Methodological issues, with applications to Iraq and Afghanistan. The Oxford Handbook of the Economics of Peace and Conflict, 275-315.
Ugwu, J. I., & Okoli, R. C. (2020). Accountability in governance and challenges of peace building in Nigeria. International Journal in Management and Social Science, 8(12), 18-29.
Union, A. (2020). United Nations Economic Commission for Africa. High-Level Report on Illicit Financial Flows.
Wisdom, O., Apollos, N., & Samuel, O. Carbon Accounting and Economic Development in Sub-Saharan Africa.
World Bank. (2021). World Bank Group Strategy.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Wisdom Okere, Towolawi Oluwakemi, Okere Cynthia Uloma
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Abstract views: 273
,
PDF Downloads: 397
