JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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GLOBALIZATION AND ECONOMIC GROWTH IN AFRICA
Get PDFUsing the endogenous growth framework and panel regression techniques, this study investigates the impact of globalization on economic growth in Africa from 1980 to 2017. Two proxies of globalization were utilized in the study, namely trade openness (as a measure of trade globalization) and the Chinn-Ito index (as a measure of financial globalization). A long run relationship was found between growth and the associated variables. Under the period of investigation, trade globalization exerted more significant impact on economic growth in Africa in contrast to financial globalization, suggesting that trade globalization mattered more for economic growth than financial globalization. A well-articulated and coordinated set of economic policies is recommended to encourage investment in fixed capital, human capital and promote trade, with a view to improving economic growth arising from globalization in the continent
SOCIO-ECONOMIC FACTORS AFFECTING VITAMIN A CASSAVA PRODUCTION IN AKINYELE LOCAL GOVERNMENT AREA OF OYO STATE, NIGERIA
Get PDFThis study examines socio-economic factors affecting vitamin A cassava production in Akinyele Local Government Area of Oyo State, Nigeria. A total number of 120 respondents selected from ten (10) villages where vitamin A cassava farmers are predominantly found, they include Alabata, Ijaye, Motunde, olorisaoko, Iroko, Iwoko talontan, Ikereku, Onidundun and Akinyele communities, in all the villages twelve (12) each, vitamin A cassava was interviewed. Data were analyzed using descriptive statistics, multiple regression analysis and gross margin analysis. Results showed that majority (80%) of the farmers were male with 85.8% of the farmers married with 11.7% single, 1.7% divorced and 0.8% widowed. The average age and mean years of farming experience are 54.8 and 25.2years respectively with 10% of them having no formal education. The costs and returns to vitamin A production in the study were reflected by a mean gross margin of ₦377,675.42 and net farm income of ₦374,334.49. Results from the multiple regression analysis showed that farm size (ha) and cost of labour are statistically significant at 1% with both having positive coefficients. Cooperative participation is statistically significant at 5% with positive coefficient. The study concluded that vitamin A cassava production is a lucrative enterprise which could serve as a reliable source of income for farmers, marketers and even source of revenue to the Government. The study recommended that formation of cooperative societies should be encouraged by community leaders or extension officers in order to aid pulling of resources together
EFFECT OF FINANCIAL RISK ON THE PROFITABILITY OF NON-LIFE INSURANCE COMPANIES IN NIGERIA
Get PDFThe purpose of this paper was to examine some of the financial risk variables that affect the profitability of Non-life insurance companies listed on Nigerian Stock Exchange. A panel research design was employed for the purpose of this study. The reason for employing this design was because the study has to do with secondary data that cut across a large population and have occurred at different point in time. This was considered suitable and appropriate for a study on Non-life insurance companies that have similar characteristics. The data was collected and analyzed after which the study established that financial risks affect the profitability of Non-life insurance companies in Nigeria. Specifically, solvency risk, leverage risk, and reinsurance risk affected the profitability (ROA) of Non-life insurance companies in Nigeria between 2008-2018. While affiliated investment risk and firm size risk did not affect the profitability of insurance companies within that same period. The findings indicated a number of implications for both the owners of insurance companies as well as the regulators of the industry. Insurance companies are saddled with the responsibility of mitigating all sort of risks that are faced by individuals and organizations hence, owners of insurance companies should pay careful and particular attention to those financial risk variables that are likely to affect their own corporate profitability. The regulators of the insurance industry in Nigeria should formulate policies that will help in enhancing the profitability of the insurance industry
ANALYSIS OF GINGER MARKETS IN HAWUL LOCAL GOVERNMENT AREA BORNO STATE, NIGERIA
Get PDFThe study examined ginger markets in Hawul Local Government Area Borno State, Nigeria. Sixty respondents were randomly selected for this study. Primary data were obtained using questionnaires and multi-stage sampling techniques was employed to select 60 respondents. The Gini coefficient, gross margin and marketing margin were used to measure the structure and performance of market. The average age of the respondents was 40 years, household size was 7 persons, and years of farming experience was16 years. 76.7% of the respondents were married and 52.5% had no formal educated. The gini coefficient of 0.5797 was recorded with the marketing margin of 15.79%. It was concluded that the farmers made more than 100% profit after the transaction period. The market structure of ginger in the areas under study was characterized by monopolistic mode of competition with marketing margin of 6.67% which indication that there are no barrier to entry giving rise to the competitive pricing within the market. It was recommended that the farmers , registering and participate in cooperative society that promoting new innovation and marketing strategies should be paramount important to keep educating and updating their old and traditional way of transaction and government should enact a policy towards creation of industries that will add value to the products and marketing places
DOMESTIC DEMAND-LED GROWTH AND HOUSEHOLD WELFARE IN NIGERIA: A COMPUTABLE GENERAL EQUILIBRIUM APPROACH
Get PDFGiven that the policy target of restricting imports through tariffs system and diversifying the Nigerian economy from an import dependent is consistent with the policy options of the domestic demand-led growth strategy, this study investigates the impact of the domestic demand-led growth strategy on household welfare in Nigeria using a Computable General Equilibrium (CGE) model. The study formulated two scenarios; a protectionist trade policy and a trade liberalization policy, under which 70% increase in import tariffs and 15% increase in import tariffs respectively were simulated. The results of both simulations indicate a fall in income, savings and utility of rich and poor households. Similarly, the results show that both rich and poor households lose welfare with protectionist and liberal trade policies. However, the biggest loss in household and social welfare occurs with a 70% increase in import tariff. The study therefore recommends a less than 15% increase in import tariffs which would likely promote aggregate domestic demand and improve households’ welfare.  
ASSESSMENT OF THE IMPACT OF COVID-19 PANDEMIC IN RIVERS STATE, NIGERIA AND GOVERNMENT PALLIATIVE MEASURES
Get PDFCovid-19 pandemic has negative impact in Nigeria thereby disrupting both individual and government day to day activities. Coronavirus has created tension and devastation of social and economic lives of people in Nigeria and the globe at large. This study is designed to find out the impact of Covid-19 on the lives of people in Rivers State and assessment of the government palliative response. The study employed phenomenological and exploratory research design in its inquiry. Fifteen respondents made up the sample size for the study. In-dept Interview Guide was the instrument for data collection. The findings from the study show that most residents of Rivers State did not receive palliatives in the midst of Covid 19 pandemic lockdown. The palliatives that was said to have being distributed by the government did not trickle down to the poor masses. The major causes of this were misappropriation, diversion of relief materials and corruption in general. Thirdly, Social workers helped in needs assessment and re-direction of palliative materials to the most vulnerable. However, their efforts were highly limited by lack of recognition and professionalization of the profession in Nigeria. The study therefore recommends that the Nigerian government should set up mechanism or avenue to monitor palliative distribution to ensure it trickles down to the poor masses and not sabotaged by maleficence. Also, the government should institutionalize social work profession and the utilization of social workers as major front-line social care workers in Nigeria and Rivers State in particular
IMPACT OF COVID-19 PANDEMIC ON SOCIAL SECURITY IN NIGERIA
Get PDFThe study examines the impact of the COVID-19 pandemic on social security in Nigeria. Survey research design was used and data were collected from 1023 respondents comprising of 425 SME owners and 598 employees through a simple random sampling technique. Descriptive statistics and Paired t-test were utilized for the data analysis. The study found that the COVID-19 pandemic has affected the social security of the employees in Nigeria negatively. Due to the COVID-19 pandemic, SMEs significantly laid off many workers and reduced the monthly expenditure on the welfare of workers, and worsened the state of social security among employees. Therefore, the study suggested that the Nigerian government should fully implement the support schemes formulated to cushion the effect of the COVID-19 pandemic and to offer grants for those who have lost employment in the course of this pandemic and improve the household consumption loans to smoothen the consumption pattern during the COVID-19 pandemic. The study also recommends that the Nigerian government should set up a Social Security Trust Fund from which the benefits can be explored during a pandemic or sudden economic hardships and pass a Social Security Act to back up the establishment of the social security fund that would generate funds for any economic hardships or pandemics
THE IMPACT OF HEALTH SHOCKS ON POVERTY LEVEL IN NIGERIA
Get PDFGood health and no poverty are two critical goals of Sustainable Development Goals that any nation would want to achieve. However, health shock is an unpredictable shock, it implies a welfare loss due to illness or injury while poverty is multidimensional. The poor are more vulnerable to health shock and more households are pushed into poverty due to high out of pocket expenditure on health. Hence, this study examined the influence of health shock on the poverty level in Nigeria for thirty-seven years (1981-2017). Impulse Response and Variance decomposition of the Vector Error Correction Model (VECM) were employed to examine the impact of health shock on the poverty level in Nigeria. The data source for our analysis was from World Development Indicator (WDI) and Central Bank of Nigeria Statistical Bulletin database. Our findings revealed that an increase in out of pocket expenditure and death rate provide an appreciable explanation for shocks to the poverty level. This implies that an increase in out of pocket expenditure and death of household member could make the household more vulnerable to poverty due to reduction in income, savings, investment and productive activities. Our study, therefore, recommends that essential needs of the poor should be addressed to mitigate the adverse effect of health shock to households
ASYMMETRIC IMPACT OF GOVERNMENT SPENDING BEHAVIOUR ON NATIONAL INCOME AND UNEMPLOYMENT IN AFRICA
Get PDFThis study examines the impact of government spending behaviour on growth of national income and unemployment in Africa. The study used a sample of 40 countries covering from 1970 to 2017. Dynamic panel models were employed and the result of Hausman test showed that Pooled Mean Group (PMG) estimator is preferred for the National Income Model and Unemployment model. The study found that increasing government spending has strong positive influence on growth of national income and negative influence on unemployment among African countries while reduction in government spending has significant negative influence on growth of national income and significant positive influence on unemployment of the countries. However, the positive changes in government spending of African countries has stronger influence on growth of income and employment than reductions in the government spending. This implies that government intervention in Africa is crucial for making available huge investments that could spur growth in income and creation of employment. The study recommends increasing government spending that could accelerate economic growth and create employment opportunities. This is because, private investors are seen incapable of making massive investments that could bring out higher growth of national income and employment. The study also recommends powerful fiscal instrument such as progressive tax system that could bring about an equitable distribution of income and wealth