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on Africa |
| By: | Ibrahim A. Adekunle (Ago-Iwoye, Olabisi Onabanjo University); Ayomide O. Ogunade (Ago-Iwoye, Olabisi Onabanjo University); Toluwanimi G. Kalejaiye (Ijebu-Ode, Tai Solarin University of Education); Adewale M. Balogun (Ago-Iwoye, Olabisi Onabanjo University) |
| Abstract: | Africa most populous black nations remain underdeveloped, mainly due to shambolic industrial sector performance. Rising problems of insecurity, corrupt practices, consumerism structure have made gains from capital inflows minimal. Little empirical credence has been leaned to the capital inflow-industrial output growth relationship in Nigeria. This anomaly has resulted in shortsighted policy formulation and attendant consequences.This paper examined international capital flows and industrial performance in Nigeria. The paper employed the two-step Engle and Granger estimation procedure and the Granger Causality to estimate parameters of the indices of industrial output growth and capital inflows to Nigeria. Findings revealed that labour participation, gross fixed capital formation, foreign direct investment (FDI) and portfolio investment have a significant positive relationship with industrial performance in Nigeria. Findings also revealed unidirectional causality from labour participation, gross fixed capital formation, foreign direct investment (FDI) and portfolio investmentto industrial performance in Nigeria. Based on the findings, the Nigerian government should create an enabling environment to attract more capital inflow that could augment domestic resources with the sole aim of growing the industrial sector. |
| Keywords: | Capital Inflow, Industrial Performance, Error Correction Modelling, Granger Causality, Nigeria |
| JEL: | C22 F21 P47 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:20/021&r=all |
| By: | Joof, Foday; Tursoy, Turgut |
| Abstract: | This paper investigates the impact of the foreign reserve on the domestic money supply and the level of sterilization by employing the Auto Regressive Distributed Lag for short-run estimation, the Fully Modified OLS for long run estimation and Granger Causality on a monthly data from 2002 to 2019. The short-run and long-run results revealed that foreign reserve has a positive statistically significant impact on money supply; this suggests a total lack of sterilization on the part of Central Bank of The Gambia. The Granger causality confirms a feedback association between the foreign reserve and broad money supply. |
| Keywords: | Foreign reserve, Money supply, Sterilisation, Central Bank of The Gambia |
| JEL: | C1 E5 |
| Date: | 2020–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:99929&r=all |
| By: | Ekundayo P. Mesagan (Pan Atlantic University, Lagos, Nigeria.); Chidi N. Olunkwa (University of Lagos, Nigeria) |
| Abstract: | This study investigates the effects of energy consumption and capital investment on environmental degradation in selected African countries between 1981 and 2017 using panel cointegration approaches. The Fully Modified and the Dynamic Ordinary Least Squares results affirm that energy consumption positively affects carbon emissions in Algeria, Nigeria, Morocco, and in the panel. At the same time, both also confirm that capital investment positively and significantly impacts carbon emissions in the region. Again, results show that capital investment augments energy use to reduce carbon emissions in Africa significantly. This implies that capital investment can provide needed impetus to reduce environmental degradation in the continent. The study, therefore, recommends that African countries should focus on energy conservation policies to reduce the adverse effect of energy use on carbon emissions. |
| Keywords: | Electricity Consumption, Capital investment, Environmental Degradation, Africa |
| JEL: | Q40 Q42 Q43 Q54 Q57 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:20/022&r=all |
| By: | Sina J. Ogede (Olabisi Onabanjo University, Ago-Iwoye, Nigeria); Emmanuel O. George (Olabisi Onabanjo University, Ago-Iwoye, Nigeria); Ibrahim A. Adekunle (Olabisi Onabanjo University, Ago-Iwoye, Nigeria) |
| Abstract: | A range of explanations had been offered for the apparent change in oil price-inflation relationship outcomes ranging from the possible use of alternate energy sources, change in the structure of output regarding fewer oil intensive sectors and the role of fiscal and monetary in the affected oil-exporting countries. These changes had drawn the attention of stakeholders, government and the society at large to the anecdotal relationship among oil price volatility, inflation, and output in Africa oil-exporting countries. This study leans empirical credence to the impact of oil price volatility on inflation and economic performance in the Africa oil-exporting countries from 1995 through 2017. We employed the Pool Mean Group estimation procedure with the inference drawn at a 5% level of significance. We found that oil price volatility had a negative and significant effect on inflation in Africa oil-exporting countries. The study concluded that oil price volatility had a substantial impact on inflation in the Africa oil-exporting countries. The study, therefore, recommended that Africa oil-exporting countries should adopt precautionary measures to monitor inflation potentials due to different responses of inflation to positive and negative oil price shocks. |
| Keywords: | Oil Price Volatility; Inflation; Growth Outcomes; Pool Mean Group; Africa. |
| JEL: | C33 O55 Q41 |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:20/020&r=all |
| By: | Paulo ANANIA (Moshi Co-operative University (MoCU) (Tanzania)); Paschal NADE (Nelson Mandela African Institution of Science and Technology (NM-AIST) (Tanzania)) |
| Abstract: | Promoting industrial sector has been among key development strategies in most of developing countries including Tanzania. Industrialization has been insisted in Tanzania by all regimes since independence. In the quest to promote industrial economy, for decades, co-operatives have been involved directly and indirectly in the process. Government recognizes co-operatives as key development partners in the current move toward a middle income and semi-industrialized status. This calls for sorting out clearly on how co-operatives can engage in the industrialization process. This paper aims to share experience on practical and theoretical strategies on how best co-operatives can engage directly and indirectly in the industrialization process in Tanzania. The authors adapted a qualitative approach by making a critical literature review to understand key issues and to guide discussions made in this paper. Content analysis was used to analyze collected qualitative data from reviewed works. Secondary data were also collected from various studies, including Government’s reports to cement discussions made. Consultations through phone calls were also made where various stakeholders were contacted for purpose of verifying existing data and getting other data in relation to co-operative industrial investments in various places. The discussion focused on various strategies that co-operatives can directly and indirectly engage in the industrialization process. The paper also describes the mechanisms that may be used to finance the industrialization process through co-operative and possible constraints to such investments. The paper concludes that there are direct and indirect options that co-operatives may apply to enter into industrialization process and in financing the process. This is based on the assumption that co-operatives will adhere to aspects of technological improvement, managerial competence, innovation and quality control in their operations. |
| Keywords: | Agriculture, Semi-industrialized, Co-operatives, Industrialization, Strategies |
| JEL: | O13 O14 P13 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:crc:wpaper:2006&r=all |
| By: | Krieger, Tim; Renner, Laura |
| Abstract: | This paper proposes three theoretical mechanisms through which polygyny may be related to social unrest. The mechanisms are related to different dimensions of grievance-inducing and, partly, greed-related inequality, which may occur in polygynous societies. These dimensions include (i) economic, reproductive and social inequality resulting in relative deprivation among non-elite men; (ii) inequality within elites when it comes to the distribution of resources and inheritance, both related to the relative position of dependent family members in a clan; and (iii) gender inequality in general. Using data for 41 African countries from 1990{2014, we provide evidence for these mechanisms and their relationship to social unrest. We find that especially the first and third dimension of inequality are correlated with social unrest. Furthermore, we consider several potential counter-arguments but do not find support for them. |
| Keywords: | Polygyny,Inequality,Women's Rights,Social Unrest,Africa,Institutions |
| JEL: | D74 J12 J16 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wgspdp:202002&r=all |