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Welcome to UISpace, The University of Ibadan Institutional Repository. A collection of theses, articles, books, videos, images, lectures, papers, data sets and all types of digital content originating from the University of Ibadan Nigeria. This repository is managed by the Kenneth Dike Library University of Ibadan, Nigeria.
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Financial System Development and Economic Growth in Sub-Saharan Africa
(West African Institue of Financial Economic Managemnt, 2016) Egwaikhide, F. O.; Oyinlola, M. A.; Omisakin, O.; Adeniyi, O. A
This paper contributes to the age-old debate on the link between financial development and economic growth by examining the role of monetary policy. There is a possibility that monetary policy enhances financial system performance with attendant impact on growth. To unveil this influence, this paper employs fixed effects and System GMM on data from 28 sub-Saharan African countries over the period 1996 to 2014. Results from the baseline estimation using fixed effects indicate that financial development indicators are negatively and significantly associated with growth for two of the three measures used (LGDP and PGDP), while money growth is positively related albeit insignificantly. The results largely remain the same on interaction with money growth. The coefficients of the interactive terms though largely negative are, however, not significant. The results from System GMM presents a different outcome. First, all measures of financial development turn out positive (except BBD) and insignificant. Financial development equally turns negative but insignificant after interacting with money growth. Overall, monetary policy measures, together with their interactions with financial development indicators, show up as weak growth predictors if not dampening, suggestive of the plausible independence of the nexus on the actions of monetary authorities in these countries.
On the Limits of Trust: Characterising Automated Teller Machine Fraudsters in Southwest Nigeria
(Emerald Publishing Limited, 2016) Tade, O.; Adeniyi, O. A.
Purpose – This paper aims to investigate automated teller machine (ATM) fraud in southwest Nigeria, as extant studies have not examined the unintended consequences of ATM subscription particularly the effect of the identity of fraudsters and the strategies for defrauding.
Design/methodology/approach – Using sequential exploratory strand of mixed method, data were collected from both ATM users and victims of ATM fraud using multi-stage sampling procedure. This involved purposive selection of Lagos and Oyo states.
Findings – Results showed that fraudsters were typically lovers, friends, relatives and sometimes children of victims. Strategies for defrauding included card cloning, swapping of cards and physical attacks at ATM galleries.
Research limitations/implications – Because of the size of the sample which is small, the research results may lack generalizability. More expansive works are needed across Nigeria in this regard.
Practical implications – The paper includes implications for policy initiative concerning the deployment and use of payment systems such as ATM in Nigeria.
Social implications – The paper reveals the limits of trust in cashless policy. It raises salient policy issues concerning the need for the governance of trust to engender adoption.
Originality/value – The paper characterizes fraudsters and their strategies for defrauding.
The Role of Institutions in Output Growth Volatility- Financial Development Nexus: A Worldwide Study
(Emerald Publishing Limited, 2016) Raheem, I. D.; Ajide, K.; Adeniyi, O. A.
Purpose – The purpose of this paper is to investigate the role of institutions in the financial development-output growth volatility nexus. It provides new channels through which financial development can dampen the output growth volatilities of the countries under investigation.
Design/methodology/approach – A comprehensive data set for 71 countries covering the period from 1996 to 2012 and the System GMM approach were used. The choice of the methodology is to deal with endogeneity issues such as measurement errors, reverse causality among other issues.
Findings – A number of findings were emanated from the empirical analysis. First, the estimates provided evidence of the volatility-reducing effect of financial development. Second, institutions do not have the same reducing influence on output growth volatility. Third, the interaction of financial development and institutions showed that the output volatility reduction arising from financial development is enhanced in the presence of improved institutions.
Research limitations/implications – The policy implications derived from this study are in twofolds: first, it is important for policymakers to formulate policies that would ensure and enhance the development of the financial sectors, since its importance in minimizing output volatility has been established. Second, institutional quality should be developed so as to further enhance the growth volatility-reducing influence of financial development. Particularly, institutions should be improved along the multiple dimensions captured in the analysis.
Originality/value – To the best knowledge, the novelty of this study to the literature is the introduction of institutions, which is hypothesized to increase the dampening effects of financial development in output growth volatility.
Gastrointestinal protective efficacy of Kolaviron (a bi‑flavonoid from Garcinia kola) following a single administration of sodium arsenite in rats: Biochemical and histopathological studies
(Wolters Kluver, 2015) Akinrinde, A. S.; Olowu, E.; Oyagbemi, A. A.; Omobowale, O. T.
Background: Arsenic intoxication is known to produce symptoms including diarrhea and vomiting, which are indications of gastrointestinal dysfunction. Objective: We investigated whether Kolaviron (KV) administration protected against sodium arsenite (NaAsO2)-induced damage to gastric and intestinal epithelium in rats. Materials and Methods: Control rats (Group I) were given a daily oral dose of corn oil. Rats in other groups were given a single dose of NaAsO2 (100 mg/kg; intraperitoneal) alone (Group II) or after pretreatment for 7 days with KV at 100 mg/kg (Group III) and 200 mg/kg (Group IV). Rats were sacrificed afterward and portions of the stomach, small intestine and colon were processed for histopathological examination. Hydrogen peroxide, reduced glutathione, malondialdehyde (MDA) concentrations as well as activities of superoxide dismutase (SOD), catalase (CAT), glutathione peroxidase (GPX), glutathione S transferase (GST) and myeloperoxidase (MPO) were measured in the remaining portions of the different gastrointestinal tract (GIT) segments. Results: NaAsO2 caused significant increases (P < 0.05) in MDA levels and MPO activity, with significant reductions (P < 0.05) in GST, GPX, CAT and SOD activities in the stomach and intestines. KV significantly reversed the changes (P < 0.05) in a largely dose-dependent manner. The different segments had marked inflammatory cellular infiltration, with hyperplasia of the crypts, which occurred to much lesser degrees with KV administration. Conclusion: The present findings showed that KV might be a potent product for mitigating NaAsO2 toxicity in the GIT.
Is There A Role for Governance in the Saving-Investment Nexus for Sub-Saharan Africa?
(Springer Science+Business Media, 2015) Raheem, I. D.; Ajide, K.; Adeniyi, O. A.
The study broke some yet to be explored ground in the literature on the Feldstein-Horioka (FH) puzzle. Precisely, it uncovered the role of institutions (particularly governance) in the saving-investment causal nexus using data on a panel of 37 sub-Saharan Africa countries, over the period spanning 1996 through 2010. Deploying a battery of panel estimators, the findings further lend support to earlier opinions on the bound of ranges of saving retention coefficients for the region. More specifically, the coefficients are -0.014, 0.200 and 0.21 in the ordinary least squares (OLS), fixed effects (FE) and random effects (RE) regressions, respectively. These estimates are largely synonymous to those reported for SSA in extant studies. Interestingly, considerable improvement was recorded in the saving coefficient from 0.20 to 0.361 when governance was interacted with saving. This concretely reinforces the useful role of governance in mobilizing saving for investment within these economies. Based on these findings, domestic resource mobilisation can be a veritable vehicle for plugging the substantial investment gap in these SSA economies. However, such policy thrust must be necessarily complemented by far-reaching governance reforms.