Scholarly works in Economics

Permanent URI for this collectionhttps://repository.ui.edu.ng/handle/123456789/332

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Education and Inclusive Growth in West Africa
(Emerald Publishing, 2021) Adeniyi, O. A.; Ajayi, P. I.; Adedeji, A.
Purpose - Many West African countries face the challenge of growth inclusiveness. The region is also facing challenges of equipping its teeming population with high-quality skills despite many reforms and initiatives introduced in the past. This study, thus, identifies education as a crucial contributory factor to growth inclusiveness in the region. It, therefore, examined the role of education in growth inclusiveness in West Africa between 1990 and 2017. Design/methodology/approach - The study utilised different proxies to capture quantity and quality dimensions of education. The unit root and ARDL ""Bounds"" tests were employed at a preliminary stage. Based on the preliminary tests, the study explored autoregressive distributed lags modelling technique to capture the short-run and long-run dynamic effects. Findings - The empirical results reveal a positive impact of school enrolment measures in most of the countries in both short-run and long-run. Education quality measure exerts positive impact and significant in few countries under consideration. Practical implications - These countries should give adequate attention to quality when designing education policy to foster their inclusive growth. Originality/value - This study highlights the critical role of education in the inclusive growth pursuit. Education quantity is important to growth inclusiveness but the quality of education is more fundamental. The quality of education possessed determine to a large extent, what individual can contribute to the productive activities within the economy and accessibility to benefits from economic prosperity."
Effect of Fragility on Growth and Poverty in Nigeria: A Disaggregate State-Level Analysis
(Western Illinois University and Tennessee State University College of Business, 2023) Adedeji, A.; Adeniyi, O. A.
Why some nations are wealthier than others are one of the most contentious and enigmatic questions in international development economics. This has necessitated plausible explanations for the reasons behind Africa's poor development record over the past 50 years. Among other factors, fragility arising from different conflicts in African countries has been ranked as a key factor that undermines the development of the continent. Nigeria found itself in this set due to growing conflicts in different parts of the country. Consequently, fragility worsened the country's development due to the huge associated economic and social costs. More so, conflict-affected countries are characterized by the worst socio-economic outcomes. Hence, existing studies have been preoccupied with the understanding of the relationship between fragility and economic growth as well as fragility and poverty. To provide evidence in the context of Nigeria, this paper, therefore, empirically investigated the fragility-growth nexus, as well as the fragility-poverty nexus, in a sample of 36 states and the Federal Capital Territory (FCT) in Nigeria. We further considered the macroeconomic and socio- political relationships in fragile and non-fragile states of Nigeria. Using data covering the period between 2011 and 2015, both the static approach (Ordinary Least Squares, Fixed Effect, and Random Effect) and the dynamic approach (Difference and System Generalized Method of Moments) were explored to provide answers to some key questions in the study. The results showed that the neoclassical and socio-political approaches complement each other. Specifically, fragility significantly weakened economic growth and further worsened poverty levels among the states. This suggests that conflict-related fragility creates an unstable environment that discourages economic activities and aggravates hunger among the population. More so, the results indicated that only debt enhances economic growth while income reduces poverty in both fragile and non-fragile states. Hence, conflict resolution is crucial to addressing conflicts in different parts of the country. Also, the country needs to explore various strategies (security infrastructure, and human capital) to overcome fragility, enhance economic growth, and combat poverty.
Effects of COVID-19 on Trade, Industrialisation and Globalisation in Africa.
(Centre for Sustainable Development, University of Ibadan, Nigeria, 2021) Shinyekwa, I. M. B.; Kumeka, T.; Adedeji, A.; Adeniyi, O. A.
This paper examined the potential effects of the global Corona Virus (COVID-19) pandemic on the paths of international trade, industrial development and economic globalization on the African continent. Deploying a purely descriptive analytical approach, a number of submissions are made. One, the pandemic significantly disrupted African trade -on both import and export sides - particularly owing to the closures of ports and other external trade infrastructure in China which is the largest trading partner for most African countries. Two, and somewhat related to the first point, the manufacturing sector that is meant to propel industrialization on the continent was also hard hit especially due to the huge shock to the supply chains of intermediate inputs. Third, since globalizations -on both the economic and cultural fronts- has led to greater interconnectedness, spillovers of the negative shock from China to other parts of the world including Africa is more palpable than otherwise. On the basis of the foregoing, some propositions on the key efforts that should be pursued and intensified are highlighted.