Journal of Economics and Trade
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Stock Market Response to Exchange Rate in Nigeria
No full textThis study seeks to determine the response of Nigeria stock market to fluctuations in exchange rate. The stock market is decomposed into Market Capitalization, All Share Index, and Volume of Transactions. Secondary data were obtained from the Central Bank of Nigeria (CBN) statistical bulletin and the World Development Index (WDI) covering the period under study (2002-2020) for this study. The analytical technique used was Ordinary Least Squares (OLS) multiple regression analysis with series of preliminary and diagnostic tests. The findings revealed that the Real Exchange Rate has a positive and significant impact on Market Capitalization while it demonstrated a negative and significant effect on All Shares Index and Volume of Transactions of the Nigerian stock market. The study concludes that it is important to regulate and stabilize the exchange rate to achieve impressive growth and performance in the Nigerian stock market. The study recommends that the Federal Government should focus on revamping other sectors of the economy, enact policies to discourage importation of certain goods and services, and create an enabling environment to encourage the production and exportation of goods and services which would save the country\u27s foreign reserves and reduce high and adverse exchange rates. The study however suggests that stable and appreciating exchange rates are crucial for impressive and predictable stock market performance in Nigeria
The Impact of Global Logistics Disruptions on Cross-border E-Commerce Performance: Evidence from Nigeria
No full textCross-border e-commerce is quickly expanding worldwide phenomenon; import and export activities related to it are impacted by the disruptions associated with global logistics. To increase cross-border e-commerce trade, efficient global logistics are needed for the timely delivery of goods across international borders. There are many obstacles that disrupt global logistics, which have an impact on the performance of cross-border e-commerce. There is a study gap because most existing studies were conducted in developed economies but institutional frameworks and legislation differ among nations, making it crucial to comprehend the obstacles from Nigerian point of view. Examining the impact of global logistics disruptions on cross-border e-commerce performance in Nigeria, this study adopted the probit regression method. Probit model estimation results showed that cross-border e-commerce imports and exports in Nigeria are adversely and significantly impacted by global logistics disruptions. Furthermore, the regression analysis showed that the disruptions encountered by global logistics firms surpassed all attempts to guarantee that global logistics effectively supports cross-border e-commerce transactions. In light of this, the study came to the conclusion that global logistics disruptions impede the expansion of cross-border e-commerce in Nigeria, which has an impact on commodity pricing, global competitiveness, and the advancement of trade infrastructure technology. Customs regulations, tariffs, and taxes present difficulties for businesses, which affect planning and forecasting. The valuable insights from these findings provide practical policy implications for policymakers and businesses to reduce disruptions and ensure effective global logistics to enhance cross-border e-commerce trade
Harnessing Artificial Intelligence to Achieve Sustainable Development Goals: Opportunities, Challenges, and Ethical Considerations
No full textThis critical analysis examines the role of artificial intelligence (AI) in attaining the Sustainable Development Goals (SDGs), emphasizing its potential advantages and related problems. AI technologies can markedly improve resource efficiency, optimize public service delivery, and stimulate economic growth and development, thereby advancing multiple Sustainable Development Goals (SDGs), including poverty alleviation, responsible consumption and sustainable urban development. The incorporation of artificial intelligence brings ethical challenges, including the potential for perpetuating biases and aggravating inequality, which may impede progress toward sustainable development. This assessment underscores the necessity of responsible deployment of Artificial Intelligence, promoting strong governance frameworks, collaborative efforts among multiple stakeholders, and focused investments in education and capacity building to minimize poverty significantly. By connecting artificial intelligence research and uses with the Sustainable Development Goals and ensuring equal access to its advantages, stakeholders may leverage AI as a potent instrument for sustainable development. In conclusion, leveraging the revolutionary potential of AI for sustainable development necessitates a multi-stakeholder approach that includes governments, researchers, civil society, and the corporate sector. This collaboration must emphasize the establishment of strong governance frameworks, the involvement of data management specialists, the assurance of algorithmic transparency and accountability, and the facilitation of equal access to AI technologies. This study ultimately advocated for a balanced strategy that optimizes the beneficial effects of AI while mitigating its problems to promote a more sustainable and equitable future for all citizens
The Production and Marketing of Teff in Ethiopia
No full textAim: In Ethiopia, Teff is an important cereal crop, 24.02% of all land under civilization is covered by Teff and contributes 17.57% to grain products, which is the alternative coming from maize. The country productivity of Teff was 1.756 tons/ hectare. Between 2004 and 2014, 6.2 million farmers produced teff out of the 12 million small-scale farmers in the nation. Teff is primarily full-grown in the Amhara (40.59%) and Oromiya (46.57%) regions of Ethiopia, with smaller amounts also produced in Tigray (5.64%) and the South Nation and Nationalities People (6.68%) regions. The main objective this review is to investigate teff production and marketing in Ethiopia.
Methods: A systematic review article was established using a systematic review of related literature from various sources in order to review this paper. Most papers are systematically investigated from different international listed journals using keyword selections similar as teff production and constraint, market actors of teff market, and value chain of teff that have connection with the production and marketing of teff.
Results: High input costs, soil erosion, weeds, the presence of diseases, and limited credit access are the main obstacles to teff production. Producers, farmer dealers, city collectors, wholesalers, retailers, and consumers are the majority of Teff\u27s market participants. The country\u27s average selling price, gross margin, and gross returns are 2180.4, 157.2, and 141.24 birr per hectare, respectively. Lack of market information, multiple taxes, shaky market connections, lack of infrastructure, subpar storing and processing, and low development strategies for commodities are the main obstacles to teff marketing.
Conclusion: To establish a clear teff market expansion for the benefit of all market players, regulations about the efficient or sufficient delivery of agricultural inputs, the development of infrastructure, and the implementation of suitable pricing methods are very essential to raise the production and productivity teff in Ethiopia
The Lustrum Performance on Government Revenue Collection for Eastern Zone Forestry Stations in Malawi (2019-2023)
No full textEffective revenue collection in forestry and government institutions offers various benefits to economic growth. A study was conducted to investigate the performance of Eastern Zone Forestry Stations (EZFS) in Malawi on government revenue collection from 2019 to 2023. Specifically, the study addressed the following questions: (1) what are the main sources of revenue collection at EZFS? (2) what is the level of performance in revenue collection at EZFS? (3) what challenges are encountered in revenue collection at EZFS? and (4) what strategies can be implemented for effective revenue collection at EZFS? The study collected both primary and secondary data. A structured questionnaire administered through Google Forms was used to collect primary data. The secondary data was subjected to a three-factor analysis of variance (ANOVA) in GenStat 18, while the primary data was subjected to a Chi-square test in SPSS 25. The results indicate that there are seven main sources of revenue in Eastern Zone Forestry Stations. The main sources of revenue collection identified are charcoal sales, firewood sales, shares from the co-management block, licence fees, log sales, pole sales, and transfer conveyance certificates. However, the main sources of revenue significantly (P<0.001) differed. Log sales contributed the highest (79.3%) to the total revenue for the past five years followed by licences fees (6.3%), then firewood sales (5.9%). Transfer conveyance certificates contributed about 5.8% to the total revenue collected. On the other hand, pole sales and shares from co-management were the least, contributing 0.9% and 0.8%, respectively. Furthermore, the study revealed that Zomba Mountain plantation contributed the highest (90.2%) to the total revenue collected among the forestry stations, while Balaka District Forestry Office contributed the least (0.2%). The study further revealed a decline in revenue collection for a period of the past five years from all the stations, except Dzonzi-Mvai Plantation, which registered an annual increase of 22.5%. Overall, the revenue for Eastern Zone Forestry Stations decreased annually by 18.3% over the past five years. Insufficient staff and poorly skilled revenue staff, inadequate supervision and monitoring of revenue generation, and lack of capacity to enforce compliance were identified as the major challenges encountered in revenue collection. The study further revealed the following as strategies for effective revenue collection: capacity building of those handling revenue, robust supervision and monitoring of revenue generation, development and implementation of revenue enhancement plan, and effective enforcement
The Struggle of the Niger Delta Region of Nigeria: The Duality of Liquid Gold and Poverty
No full textThe Niger Delta region of Nigeria embodies a profound paradox of resource wealth and persistent poverty, where abundant oil resources have failed to translate into economic prosperity for local communities. This theoretical research delves into the complex socio-economic landscape that has defined the region\u27s challenging trajectory, exploring the intricate dynamics that have perpetuated systemic inequalities. Through a comprehensive analytical approach, the study examines the multifaceted factors contributing to the region\u27s ongoing struggles. The research methodology involves a critical synthesis of existing literature, historical documentation, and scholarly analyses to unpack the deep-rooted economic, political, and social mechanisms that have shaped the Niger Delta\u27s development. The paper highlighted that despite being home to Nigeria\u27s primary oil resources, the region has experienced extensive environmental degradation, economic disenfranchisement, and political exclusion. Colonial legacies and subsequent extractive economic practices have systematically undermined local communities\u27 potential for sustainable development, creating a cycle of poverty amid immense natural wealth. The research highlights the limitations of singular policy interventions, arguing that legislative frameworks like the Petroleum Industry Act (PIA) cannot singularly resolve deeply entrenched structural challenges. The paper suggested a transformative approach that encompasses economic diversification, robust environmental protection, transparent governance, and genuine community empowerment. The study concludes that addressing the Niger Delta\u27s challenges requires more than superficial policy interventions. It necessitates a profound commitment to structural transformation, recognizing the fundamental rights of local communities and creating genuine opportunities for sustainable, inclusive economic progress
Impact of Portfolio Allocation on the Performance of Indian Mutual Funds
No full textRetail investors face a dilemma in selecting funds from among the wide range of schemes available. The past performance of a fund is not always indicative of its future performance, but it is the only quantitative way to judge how good a fund is at present. Investors always prefer funds which give high returns and have low risk. Thus while building a fund portfolio the fund manager should understand the impact of portfolio allocation in different instruments on the performance of the portfolio. The objective of the present study was to find the short-term effects of portfolio allocation on the performance of mutual funds. The data for the study consisted of the portfolio allocations and the performance measures of a sample of one hundred and nineteen open-ended mutual fund schemes, of which thirty-eight were diversified debt/ income funds, forty-eight were diversified equity funds, twenty-one were balanced funds, and twelve were short-term debt funds. The performance measures used for the analysis were: mean returns, standard deviation in returns, beta, and Sharpe ratio. The portfolio allocation of the funds was described both in terms of the percentage allocated in equity, debt, and cash & equivalents, and in terms of the percentage allocated in different sectors. The data was entirely secondary data, and was collected from the AMFI website. The findings of the study indicate that, for different types of funds, allocation in different asset classes, that is, equity, debt, and cash & equivalents, as well as their sector-wise allocation tend to impact the performance of the fund
The Effect of Government Expenditure on Yam Yield in Nigeria
No full textThe broad objective of this study is the analysis of the long and short run effect of government expenditure on yam yield in Nigeria. The study applied descriptive statistics and autoregressive distributed lag (ARDL) econometric approach to the secondary data collected from Central Bank of Nigeria Statistical Bulletin and FAOSTAT. The descriptive analysis shows that yam output was increasing in Nigeria with decreasing trend in yield. The result of the econometric analysis indicates that agricultural government expenditure does not have significant long and short-run effects on yam production and yield. This is because the real per capita agricultural government expenditure is small. The study concludes that although, agricultural government expenditure does not have significant long and short-run effects on yam production and yield, it is positively correlated with agricultural inputs used in yam production. Based on the findings from the study, various recommendations were made, which include the need to increase the share of agricultural public expenditure in total government expenditure in Nigeria, which stood at 2%, can be increased to 4% which is the average for Sub-Sahara Africa, while targeting 10% recommended in the Maputo Declaration
How Important is Microfinance to Small Business Development? the Case of Nigeria
No full textSmall businesses play a significant role in national development all around the globe. This is explained by the significant amount of employment they generate and the goods and service they render. As such, there financing is of utmost importance. Academics and practitioners have begun to question the implication of microfinance on small business development. An observable sample for this study is the Nigerian economy. The Nigerian government created microfinance banks in 1992 as a community scheme to act as mechanisms for financing sources for diverse small businesses because of the prominence given to this crucial industry. This study therefore investigated empirically if microfinance banks have had the intended effect on small business development. Utilizing secondary data obtained from the Central bank of Nigeria statistical bulletin over the course of the years 1992 to 2021 in Nigeria, the study employed analytical techniques like the unit root test, cointegration, and error correction model in conjunction with other diagnostic tests. The study concludes that microfinance positively and significantly relates with the growth of small businesses in Nigeria, while interest rate had a negative and insignificant influence on small businesses in Nigeria. The study recommends that, microfinance banks should encourage its appropriation of local borrowing in order to increase the country\u27s productive supremacy and remove negative bottlenecks of low-income earners accessing the loan. The interest rate of these loans are exorbitant and needs to be reduced significantly to enable small businesses survive and ensure easy repayment of microcredits
Infrastructural Financing and Trade Performance in West Africa
No full textThis study examines the relationship between infrastructure and trade performance in West African countries during the 1990-2021. It moved a step further over the existing studies in this area to explore the effect of education and energy finance on trade flow in the region. The theoretical framework is based on the love of variety theory as advocated by Krugman [1] and modified to suit purpose. This emphasis here is on derivation of utility from a given varieties of choices which in turn boost production, specialization, positively externalities and economies of scale. Results of the robust least square show the declining effects of mobile phone subscriptions and increasing effect of government expenditure on education though not as expected. Investment in energy appears insufficient to boost trade performance in the region.
The Wald test shows that causality occurs between import trade and infrastructure financing variables