Pub Date : 2022-02-15DOI: 10.37745/ijdes.13/vol10no2pp.1-26
This work investigated the sustainability or otherwise of the Nigeria public debt as it relates to the Nigeria railway modernization project. We set up two hypotheses: Ho1: That the current investment effort by the Nigeria government in the Nigeria railway modernization project has led Nigeria into huge external unsustainable public debt. Ho2: That Nigeria public debt stock is unsustainable. Two measures as found in the literature: debt servicing-to-export ratio and debt servicing to-GDP ratio were tested against data obtained from the CBN Statistical Bulletin to validate or invalidate our hypothesis. The analysis give an inconclusive result– Debt servicing-to-export ratio gave an overwhelmingly negative result, while the debt servicing-to-GDP was positive. We are therefore unable to confirm the sustainability or otherwise of Nigeria public debt as it relates to the railway modernization project. However by conjecture, these authors believe that the Nigeria public debt relative to the Nigeria modernization project is not likely to be sustainable. We recommend that government at all levels increase surveillance over borrowed fund for infrastructural development from being diverted to private use.
{"title":"Debt Burden and Sustainable Development: An Evaluation of the Nigeria Railway Modernization Project","authors":"","doi":"10.37745/ijdes.13/vol10no2pp.1-26","DOIUrl":"https://doi.org/10.37745/ijdes.13/vol10no2pp.1-26","url":null,"abstract":"This work investigated the sustainability or otherwise of the Nigeria public debt as it relates to the Nigeria railway modernization project. We set up two hypotheses: Ho1: That the current investment effort by the Nigeria government in the Nigeria railway modernization project has led Nigeria into huge external unsustainable public debt. Ho2: That Nigeria public debt stock is unsustainable. Two measures as found in the literature: debt servicing-to-export ratio and debt servicing to-GDP ratio were tested against data obtained from the CBN Statistical Bulletin to validate or invalidate our hypothesis. The analysis give an inconclusive result– Debt servicing-to-export ratio gave an overwhelmingly negative result, while the debt servicing-to-GDP was positive. We are therefore unable to confirm the sustainability or otherwise of Nigeria public debt as it relates to the railway modernization project. However by conjecture, these authors believe that the Nigeria public debt relative to the Nigeria modernization project is not likely to be sustainable. We recommend that government at all levels increase surveillance over borrowed fund for infrastructural development from being diverted to private use.","PeriodicalId":198402,"journal":{"name":"International Journal of Development and Economic Sustainability","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115143520","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-15DOI: 10.37745/ijdes.13/vol10no1pp.41-55
This study examined the relationship between exchange rate and economic growth in Nigeria between 1981 and 2020. The specific objectives are to determine the effects of exchange rate, inflation and interest rate on gross domestic product (GDP). The data on the variables were obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin and World Development Indicators, and analyzed using descriptive statistics, unit root as well as bounds cointegration tests and ARDL model. The unit root test results showed that the variables are mixed integrated. While inflation is stationary at levels, the other variables in the model were stationary at first difference. The bounds cointegration test showed that long run relationship exists between GDP growth and the underlying explanatory variables. The findings showed that exchange rate and inflation negatively impacted on economic growth. This finding indicates that increase in exchange rate and price level is detrimental to the growth of the Nigerian economy. There is evidence of a significant positive effect of interest rate on GDP growth. This finding explains the reality in Nigeria, where businesses and households tend to borrow even as interest rate increases, but tend to cut corners by reducing the quality of their products and services or pass-on the increased costs of borrowing to consumers by increasing prices. Given the findings, this study recommends amongst others that the federal government through the CBN should ensure that exchange rate policy should is consistent to provide opportunity for a realistic and stable exchange rate capable of driving economic growth in Nigeria.
{"title":"Exchange Rate Fluctuations and Economic Growth in Nigeria (1981 – 2020)","authors":"","doi":"10.37745/ijdes.13/vol10no1pp.41-55","DOIUrl":"https://doi.org/10.37745/ijdes.13/vol10no1pp.41-55","url":null,"abstract":"This study examined the relationship between exchange rate and economic growth in Nigeria between 1981 and 2020. The specific objectives are to determine the effects of exchange rate, inflation and interest rate on gross domestic product (GDP). The data on the variables were obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin and World Development Indicators, and analyzed using descriptive statistics, unit root as well as bounds cointegration tests and ARDL model. The unit root test results showed that the variables are mixed integrated. While inflation is stationary at levels, the other variables in the model were stationary at first difference. The bounds cointegration test showed that long run relationship exists between GDP growth and the underlying explanatory variables. The findings showed that exchange rate and inflation negatively impacted on economic growth. This finding indicates that increase in exchange rate and price level is detrimental to the growth of the Nigerian economy. There is evidence of a significant positive effect of interest rate on GDP growth. This finding explains the reality in Nigeria, where businesses and households tend to borrow even as interest rate increases, but tend to cut corners by reducing the quality of their products and services or pass-on the increased costs of borrowing to consumers by increasing prices. Given the findings, this study recommends amongst others that the federal government through the CBN should ensure that exchange rate policy should is consistent to provide opportunity for a realistic and stable exchange rate capable of driving economic growth in Nigeria.","PeriodicalId":198402,"journal":{"name":"International Journal of Development and Economic Sustainability","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129447558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-15DOI: 10.37745/ijdes.13/vol10no1pp.1-12
The study investigated the ownership structure and financial performance of listed consumer goods sector firms in Nigeria for the period of 2011-2020. The data were gathered from the published financial statements of consumer goods sector firms with return on asset serving as dependent variable while controlling ownership and non-controlling ownership were used as explanatory variables, and analyzed through the descriptive statistics; correlation analysis, panel regression and fixed and random effect regression. The result revealed that ownership structure has robust relationship with financial performance. The study concluded that controlling ownership has positive and non-statistical significant with financial performance while non-controlling ownership has positive and statistical significant relationship with financial performance of listed consumer goods firms in Nigeria. The study recommended that firms listed under the sector should imbibe the corporate governance long run strategies to increase the organizational growth.
{"title":"Ownership Structure and Firm Performance of Listed Consumer Goods Sector Firms in Nigeria","authors":"","doi":"10.37745/ijdes.13/vol10no1pp.1-12","DOIUrl":"https://doi.org/10.37745/ijdes.13/vol10no1pp.1-12","url":null,"abstract":"The study investigated the ownership structure and financial performance of listed consumer goods sector firms in Nigeria for the period of 2011-2020. The data were gathered from the published financial statements of consumer goods sector firms with return on asset serving as dependent variable while controlling ownership and non-controlling ownership were used as explanatory variables, and analyzed through the descriptive statistics; correlation analysis, panel regression and fixed and random effect regression. The result revealed that ownership structure has robust relationship with financial performance. The study concluded that controlling ownership has positive and non-statistical significant with financial performance while non-controlling ownership has positive and statistical significant relationship with financial performance of listed consumer goods firms in Nigeria. The study recommended that firms listed under the sector should imbibe the corporate governance long run strategies to increase the organizational growth.","PeriodicalId":198402,"journal":{"name":"International Journal of Development and Economic Sustainability","volume":"213 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121628721","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-15DOI: 10.37745/ijdes.13/vol10no1pp.13-25
The study investigates directors tunnelling in Nigeria drawing samples from listed non-finance firms on the floor of the Nigerian Exchange Group market. While directors tunnelling proxied by directors’ remuneration is the dependent variable, the independent variables adopted for this study includes ownership concentration, big4 auditors, capital structure and cash holding. Furthermore, in line with related extant literature, we employed the variable of firm size to control our model. Data set employed in this study spans through the periods between 2011 and 2020. In the light of this, the empirical result of this study leads to the conclusion that out of the four independent variables adopted in this study, only big4 auditors and capital structure significantly affect directors tunnelling. Specifically, we conclude that when a big4 firm audit the accounts of the firms in our sample, directors tunnelling declines. Similarly, we conclude that the more a firm finances their operations through debt, directors tunnelling declines. Succinctly, we recommend that firms should strive towards debt financing while also seeking to employ the services of big4 auditors to keep at bay tunnelling among listed non-finance firms.
{"title":"Investigating Tunneling from Nigerian non-finance Listed Companies","authors":"","doi":"10.37745/ijdes.13/vol10no1pp.13-25","DOIUrl":"https://doi.org/10.37745/ijdes.13/vol10no1pp.13-25","url":null,"abstract":"The study investigates directors tunnelling in Nigeria drawing samples from listed non-finance firms on the floor of the Nigerian Exchange Group market. While directors tunnelling proxied by directors’ remuneration is the dependent variable, the independent variables adopted for this study includes ownership concentration, big4 auditors, capital structure and cash holding. Furthermore, in line with related extant literature, we employed the variable of firm size to control our model. Data set employed in this study spans through the periods between 2011 and 2020. In the light of this, the empirical result of this study leads to the conclusion that out of the four independent variables adopted in this study, only big4 auditors and capital structure significantly affect directors tunnelling. Specifically, we conclude that when a big4 firm audit the accounts of the firms in our sample, directors tunnelling declines. Similarly, we conclude that the more a firm finances their operations through debt, directors tunnelling declines. Succinctly, we recommend that firms should strive towards debt financing while also seeking to employ the services of big4 auditors to keep at bay tunnelling among listed non-finance firms.","PeriodicalId":198402,"journal":{"name":"International Journal of Development and Economic Sustainability","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125966655","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-15DOI: 10.37745/ijdes.13/vol10no1pp.26-40
The covid-19 pandemic ushered the world into what is seen or described as new normal. In addition, it aided what could be seen as increased or rapid adoption of the use of modern and improved technologies in real estate practice. The technologies even though many of them have been in existence, the increased patronage was made possible through the coming of the pandemic. This study however identified or studied the Estate Surveyors and Valuers (ESVs) response in the use of phones-based apps, software, smartphones, and GIS in real estate practice. The identified apps and software used by the practitioners include; Google Earth, QGIS, ArcGIS, MapIt, SW Maps, Map with Us, MapPt, Locus GIS, GCP/GPS among others. The findings indicated that practitioners are familiar with a good number of them adding that the majority has been using them at their own pace i.e., depending on the individual level of knowledge of same. There was also noticeably increased patronage of use of same since the coming covid-19 pandemic. It is expected that practitioners who are yet to key in should as a matter of necessity try to or adopt the same as the practice is going digitized and enhanced technologically.
2019冠状病毒病大流行使世界进入了所谓的“新常态”。此外，它有助于在房地产实践中增加或迅速采用现代和改进的技术。尽管许多技术已经存在，但由于大流行病的到来，才有可能增加对这些技术的赞助。然而，本研究确定或研究了房地产测量师和估价师(esv)在房地产实践中使用基于手机的应用程序、软件、智能手机和GIS时的反应。从业人员使用的识别应用程序和软件包括;Google Earth、QGIS、ArcGIS、MapIt、SW Maps、Map with Us、MapPt、Locus GIS、GCP/GPS等。调查结果表明，从业人员熟悉其中的许多，并补充说，大多数人一直在以自己的速度使用它们，即取决于个人的知识水平。自即将到来的covid-19大流行以来，使用相同功能的人数也明显增加。预计尚未进入的从业者应该在必要时尝试或采用相同的实践，因为实践正在数字化和技术上得到增强。
{"title":"Assessing the Use of Smart Phones-Based Apps, Software and Geographic Information System (GIS) in Real Estate Practice","authors":"","doi":"10.37745/ijdes.13/vol10no1pp.26-40","DOIUrl":"https://doi.org/10.37745/ijdes.13/vol10no1pp.26-40","url":null,"abstract":"The covid-19 pandemic ushered the world into what is seen or described as new normal. In addition, it aided what could be seen as increased or rapid adoption of the use of modern and improved technologies in real estate practice. The technologies even though many of them have been in existence, the increased patronage was made possible through the coming of the pandemic. This study however identified or studied the Estate Surveyors and Valuers (ESVs) response in the use of phones-based apps, software, smartphones, and GIS in real estate practice. The identified apps and software used by the practitioners include; Google Earth, QGIS, ArcGIS, MapIt, SW Maps, Map with Us, MapPt, Locus GIS, GCP/GPS among others. The findings indicated that practitioners are familiar with a good number of them adding that the majority has been using them at their own pace i.e., depending on the individual level of knowledge of same. There was also noticeably increased patronage of use of same since the coming covid-19 pandemic. It is expected that practitioners who are yet to key in should as a matter of necessity try to or adopt the same as the practice is going digitized and enhanced technologically.","PeriodicalId":198402,"journal":{"name":"International Journal of Development and Economic Sustainability","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126568110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：