Are All Shocks Alike? Evidence From the Effects of Oil Shocks on Military Expenditure in Nigeria-Reference-Cited by-同舟云学术

Are All Shocks Alike? Evidence From the Effects of Oil Shocks on Military Expenditure in Nigeria

Published:2023-09-30 Issue:Early View Volume:4 Page:
ISSN:2652-6433
Container-title:Energy RESEARCH LETTERS
language:en
Short-container-title:

Author:

Raifu Isiaka Akande¹²^ORCID

Affiliation:

1. University of Ibadan, Nigeria

2. Centre for the Study of the Economies of Africa (CSEA), Nigeria

Abstract

This study investigated the asymmetric effects of oil shocks–oil price, oil demand and oil supply shocks–on military expenditure in Nigeria. Our study confirmed the presence of short-run and long-run asymmetries in all the three models used. Generally, positive oil price and demand shocks positively influence military expenditure and vice versa for negative shocks. However, a positive oil supply shock is detrimental to military expenditure.

Publisher

Asia-Pacific Applied Economics Association

Subject

General Medicine

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