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Volume 66 (2021): Edition 2 (August 2021)

Volume 66 (2021): Edition 1 (April 2021)

Volume 65 (2020): Edition 3 (December 2020)

Volume 65 (2020): Edition 2 (August 2020)

Volume 65 (2020): Edition 1 (April 2020)

Volume 64 (2019): Edition 3 (December 2019)

Volume 64 (2019): Edition 2 (August 2019)

Volume 64 (2019): Edition 1 (April 2019)

Volume 63 (2018): Edition 3 (December 2018)

Volume 63 (2018): Edition 2 (August 2018)

Volume 63 (2018): Edition 1 (April 2018)

Volume 62 (2017): Edition 3 (December 2017)

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Volume 62 (2017): Edition 1 (April 2017)

Volume 61 (2016): Edition 3 (December 2016)

Détails du magazine
Format
Magazine
eISSN
2065-9644
Première publication
06 Mar 2016
Période de publication
3 fois par an
Langues
Anglais

Chercher

Volume 65 (2020): Edition 3 (December 2020)

Détails du magazine
Format
Magazine
eISSN
2065-9644
Première publication
06 Mar 2016
Période de publication
3 fois par an
Langues
Anglais

Chercher

5 Articles
Accès libre

Institutional Quality. Human Capital and Industrial Sector Growth in Ecowas

Publié en ligne: 31 Dec 2020
Pages: 1 - 13

Résumé

Abstract

The industrial sector has been identified as a tool for effective economic diversification among developing countries but major challenges of the sector have been the institutional and human capital in these economies. Consequently, the need to re-assess the relationship among the three is pertinent. The study investigates empirically, the impacts of institutional quality and human capital on the industrial sector growth of the ECOWAS. The methodology adopted is quantitative with the use of panel data analysis. Findings from the analysis show that both human capital and institutional quality in the ECOWAS have not supported industrial growth significantly. However, the result shows that macroeconomic variables such as inflation rate and exchange rate have the largest effect on the growth of the industrial sector of ECOWAS. The study used ECOWAS that has not been used by any of the previous authors and the economic bloc is in dire need of economic diversification. It is recommended that ECOWAS countries should improve on their institutional quality and human capital development for them to be effective in promoting the growth of their industrial sector.

Mots clés

  • Industrial Sector Growth
  • Institutional Quality
  • Human Capital

JEL Classification

  • J24
  • J38
  • L60
Accès libre

Microeconomic Foundation of the Phillips Curve

Publié en ligne: 31 Dec 2020
Pages: 14 - 26

Résumé

Abstract

It is an important problem to derive negative relation between the unemployment rate and the inflation rate, that is, the Phillips curve without market imperfection. We derive the Phillips curve using an overlapping generations model under monopolistic competition. We consider the effects of exogenous changes in labor productivity. An increase (decrease) in the labor productivity in a period induces a decrease (increase) in the employment, an increase (decrease) in the unemployment rate and a falling (rising) in the price of the goods in the same period. Then, given the price in the previous period the inflation rate falls (rises). This conclusion is based on the premise of utility maximization of consumers and profit maximization of firms. Therefore, we have presented a microeconomic foundation of the Phillips curve.

Mots clés

  • Phillips Curve
  • Microeconomic foundation
  • Overlapping generations model
  • Monopolistic competition

JEL Classification

  • E12
  • E24
  • E31
Accès libre

Internal Branding: Antecedents of Employee Attitudes, Satisfaction, and Organizational Loyalty

Publié en ligne: 31 Dec 2020
Pages: 27 - 38

Résumé

Abstract

As competition between employers has become more intense in recent years, employee-based differentiation has become one of the strategic solutions for many organizations. The objective of this paper is to test a nomological model between internal branding, attitude, satisfaction, and loyalty. Data were collected through a survey among employees of a leading electronics conglomerate from Romania. While the relationship between attitudes and loyalty is partially mediated by satisfaction, the relationship between internal branding and satisfaction is indirect, with full mediation by attitudes being detected. The results of the study agree with previous studies, which suggested that internal branding influenced certain employee behaviors, such as positive attitudes, satisfaction, or loyalty.

Mots clés

  • internal branding
  • attitudes
  • satisfaction
  • loyalty

JEL Classification

  • M31
  • M52
Accès libre

Determinants of Financial Inclusion in Southern Africa

Publié en ligne: 31 Dec 2020
Pages: 39 - 52

Résumé

Abstract

The study sought to establish the drivers of financial inclusion in Southern Africa with a specific focus on South Africa. Financial inclusion has been a topic of global interest due to the negative impact of financial exclusion in addressing socio-economic issues like poverty. Using the logit model, the study discovered that financial inclusion is driven by age, education level, the total salary proxy of income, race, gender, and marital status. The variable gender was the only factor with a negative influence on financial inclusion all other significant variables had a positive influence on financial inclusion. As a result, governments in Africa should encourage the use of financial services and products among women, Black Africans, Coloureds and the youths. Products and services tailor-made to satisfy the needs of these groups should be designed to improve financial inclusion among them. This initiative will go a long way in addressing poverty, inequality, and unemployment in the country.

Mots clés

  • Africa
  • Financial Inclusion
  • Household Survey Data
  • Determinants South Africa

JEL Classification

  • G1
  • O12
  • G23
  • G38
Accès libre

Investigating External Debt and Exchange Rate Fluctuations in Nigeria: Any Difference with ARDL Model?

Publié en ligne: 31 Dec 2020
Pages: 53 - 64

Résumé

Abstract

One of the contending issues in Nigeria in the recent time is external debt and exchange rate fluctuations. In view of the above, this study examined the relationship between external debt and exchange rate fluctuations in Nigeria over the period of 1981 to 2018. Consequently, the study employed Autoregressive Distribution Lag Model to address the objective of the study. The major findings that originated in this paper are as follows: external debt, debt service payment and foreign reserve have a significant positive impact on exchange rate fluctuations in the short run in Nigeria. Furthermore, based on these findings, recommendations are made for the policy makers that external debt as a means of financing budget deficit should be minimized if not totally discouraged in Nigeria because its servicing in particular and repayment put pressure on foreign exchange market in the short run and thereby leads to exchange rate fluctuations in terms of depreciation of naira in the country. Also, country’s foreign reserve should be strengthened through the implementation of aggressive export promotion policy in Nigeria.

Mots clés

  • Exchange Rate
  • Fluctuations
  • External Debt
  • ARDL
  • Nigeria

JEL Classification

  • F3
  • F31
5 Articles
Accès libre

Institutional Quality. Human Capital and Industrial Sector Growth in Ecowas

Publié en ligne: 31 Dec 2020
Pages: 1 - 13

Résumé

Abstract

The industrial sector has been identified as a tool for effective economic diversification among developing countries but major challenges of the sector have been the institutional and human capital in these economies. Consequently, the need to re-assess the relationship among the three is pertinent. The study investigates empirically, the impacts of institutional quality and human capital on the industrial sector growth of the ECOWAS. The methodology adopted is quantitative with the use of panel data analysis. Findings from the analysis show that both human capital and institutional quality in the ECOWAS have not supported industrial growth significantly. However, the result shows that macroeconomic variables such as inflation rate and exchange rate have the largest effect on the growth of the industrial sector of ECOWAS. The study used ECOWAS that has not been used by any of the previous authors and the economic bloc is in dire need of economic diversification. It is recommended that ECOWAS countries should improve on their institutional quality and human capital development for them to be effective in promoting the growth of their industrial sector.

Mots clés

  • Industrial Sector Growth
  • Institutional Quality
  • Human Capital

JEL Classification

  • J24
  • J38
  • L60
Accès libre

Microeconomic Foundation of the Phillips Curve

Publié en ligne: 31 Dec 2020
Pages: 14 - 26

Résumé

Abstract

It is an important problem to derive negative relation between the unemployment rate and the inflation rate, that is, the Phillips curve without market imperfection. We derive the Phillips curve using an overlapping generations model under monopolistic competition. We consider the effects of exogenous changes in labor productivity. An increase (decrease) in the labor productivity in a period induces a decrease (increase) in the employment, an increase (decrease) in the unemployment rate and a falling (rising) in the price of the goods in the same period. Then, given the price in the previous period the inflation rate falls (rises). This conclusion is based on the premise of utility maximization of consumers and profit maximization of firms. Therefore, we have presented a microeconomic foundation of the Phillips curve.

Mots clés

  • Phillips Curve
  • Microeconomic foundation
  • Overlapping generations model
  • Monopolistic competition

JEL Classification

  • E12
  • E24
  • E31
Accès libre

Internal Branding: Antecedents of Employee Attitudes, Satisfaction, and Organizational Loyalty

Publié en ligne: 31 Dec 2020
Pages: 27 - 38

Résumé

Abstract

As competition between employers has become more intense in recent years, employee-based differentiation has become one of the strategic solutions for many organizations. The objective of this paper is to test a nomological model between internal branding, attitude, satisfaction, and loyalty. Data were collected through a survey among employees of a leading electronics conglomerate from Romania. While the relationship between attitudes and loyalty is partially mediated by satisfaction, the relationship between internal branding and satisfaction is indirect, with full mediation by attitudes being detected. The results of the study agree with previous studies, which suggested that internal branding influenced certain employee behaviors, such as positive attitudes, satisfaction, or loyalty.

Mots clés

  • internal branding
  • attitudes
  • satisfaction
  • loyalty

JEL Classification

  • M31
  • M52
Accès libre

Determinants of Financial Inclusion in Southern Africa

Publié en ligne: 31 Dec 2020
Pages: 39 - 52

Résumé

Abstract

The study sought to establish the drivers of financial inclusion in Southern Africa with a specific focus on South Africa. Financial inclusion has been a topic of global interest due to the negative impact of financial exclusion in addressing socio-economic issues like poverty. Using the logit model, the study discovered that financial inclusion is driven by age, education level, the total salary proxy of income, race, gender, and marital status. The variable gender was the only factor with a negative influence on financial inclusion all other significant variables had a positive influence on financial inclusion. As a result, governments in Africa should encourage the use of financial services and products among women, Black Africans, Coloureds and the youths. Products and services tailor-made to satisfy the needs of these groups should be designed to improve financial inclusion among them. This initiative will go a long way in addressing poverty, inequality, and unemployment in the country.

Mots clés

  • Africa
  • Financial Inclusion
  • Household Survey Data
  • Determinants South Africa

JEL Classification

  • G1
  • O12
  • G23
  • G38
Accès libre

Investigating External Debt and Exchange Rate Fluctuations in Nigeria: Any Difference with ARDL Model?

Publié en ligne: 31 Dec 2020
Pages: 53 - 64

Résumé

Abstract

One of the contending issues in Nigeria in the recent time is external debt and exchange rate fluctuations. In view of the above, this study examined the relationship between external debt and exchange rate fluctuations in Nigeria over the period of 1981 to 2018. Consequently, the study employed Autoregressive Distribution Lag Model to address the objective of the study. The major findings that originated in this paper are as follows: external debt, debt service payment and foreign reserve have a significant positive impact on exchange rate fluctuations in the short run in Nigeria. Furthermore, based on these findings, recommendations are made for the policy makers that external debt as a means of financing budget deficit should be minimized if not totally discouraged in Nigeria because its servicing in particular and repayment put pressure on foreign exchange market in the short run and thereby leads to exchange rate fluctuations in terms of depreciation of naira in the country. Also, country’s foreign reserve should be strengthened through the implementation of aggressive export promotion policy in Nigeria.

Mots clés

  • Exchange Rate
  • Fluctuations
  • External Debt
  • ARDL
  • Nigeria

JEL Classification

  • F3
  • F31

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