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Regression Analysis On National Income (from 1999 – 2015)
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SCOPE OF THE STUDY
The study is centre on “National Income,
Savings and Government Final Consumption Expenditure Covering the
period of six years 1998 – 2003.
The raw data used are
collected as primary data by federal office of statistics†publication
and Federal Ministry of Finance Publication. The data are collected as
primary data by federal office of statistics and used as secondary data
in this project which centered on national Accounts. Some of these
National Accounts Aggregates Include Gross Domestic Product (GDP) final
consumption expenditure, exports and imports.
National
Accounts data presents the record of economic transaction of the
economic in a systematic manner and show the relationship between the
various components of the economy. Economic transaction cover all the
activities of an entity (Household, government, firm, financial
institution) that are of economic nature (production, consumption
distribution, savings and foreign exchange transactions. These economic
transactions of all the entiti8tes and combined together ad presented
inform of account.
Data collected for analysis in this study center on:-
Appropriation of disposable income as dependent variable.
Savings as one of the independent variable
Government final consumption expenditure as another independent variable.
SIGNIFICANCE OF THE STUDY
The study will help to know the status of Nigeria economy. The
knowledge of the status will help to make necessary recommendation in
order to revitalize the poor economic condition of the country for the
better future.
The study will also create avenue for future research.
DEFINITION OF CONCEPTS
Gross
Domestic Product (GDP): This is the sum of the money value of all
locally produced goods and services. It does not include international
transaction. GDP does not make allowance for depreciation of capital.
Gross
National Product (GNP): This is the total money value of current
market prices of all final goods and services produced by the nationals
during a specific period. It includes net income from abroad in respect
of the country’s nationals without any consideration for depreciation
of capital.
National Domestic Product (NDP): This is the total value
of all goods and services produced in a country in a period of time. It
exclude the value of the net earnings and incomes from abroad. An
allowance being made for depreciation of capital.
Net National
Product (NNP): This is the monetary value of all goods and services
produced within the country during a specific period. It includes net
incomes and earning from abroad and provision being made for the
replacement of depreciation of capital.
Disposable Income (DPI):
This is the amount of money per year that private sector are free to
spend when depreciation of capital, all taxes, all net profits made by
firms but not paid out as divided are added to the disposable and
transfer payment subtracted. We arrive at gross national product.
Net
Economic Welfare (NEW): This examines those factors not
considered when calculating the Gross National Product (GNP). Such
factors include social cost 9pollution) and leisure time the net
economic welfare tend to remove the product (GNP). A nation might have a
very high GNP at a very great social cost as pollution, rising crime
etc.
Per Capita Income (PCI) This is the gross domestic
product divided by the population of the country. Per capita income can
be calculated once the population and gross domestic product are
known. So that P.C.I = GDP
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