Pub Date : 2021-08-17DOI: 10.1108/ijdi-02-2021-0049
E. Fedorova, E. Meshkova
Purpose This paper aims to examine the relationship between monetary policy and market interest rates. This paper examines the efficiency of interest rate channel used in monetary regulation as well as implementation of monetary policy under low interest rates. This paper examines and reviews the scientific literature published over the past 30 years to determine primary research areas, to summarize their results and to identify appropriate measures of monetary policy to be used in practice in changing economic environment. Design/methodology/approach This paper reviews 94 studies focused on the relationship between monetary policy and market interest rates in terms of meeting the goals of macroeconomic regulation. The articles are selected on the basis of Scopus citation and bibliometric analysis. A major feature of this paper is the use of text analysis (data preparation, frequency of terms and collocations use, examination of relationships between terms, use of principal component analysis to determine research thematic areas). Using the method of principal component analysis while studying abstracts this paper reveals thematic areas of the research. Thus, the conducted text analysis provides unbiased results. Findings First, this paper examines the whole complex of relationships between monetary policy of central banks and market interest rates. Second, this research reviews a wide range of literature including recent studies focused on specific features of monetary policy under low and negative rates. Third, this study identifies and summarizes the thematic areas of all the researches using text analysis (transmission mechanism of monetary policy, efficiency of zero interest rate policy, monetary policy and term structure of interest rates, monetary policy and interest rate risk of banks, monetary policy of central banks and financial stability). Finally, this paper presents the most important findings of the studied articles related to the current situation and trends on the financial market as well as further research opportunities. This paper finds the principal results of studies on significant issues of monetary policy in terms of its efficiency under low interest rates, influence of its instruments on term structure of interest rates and role of banking sector in implementation of transmission mechanism of monetary policy. Research limitations/implications The limitation of the review is examining articles for the study period of 30 years. Practical implications Central banks of emerging economies should apply the instruments and results of the countries' monetary policies reviewed in this paper. Using text analysis this paper reveals the main thematic areas and summarizes findings of the articles under study. The analysis allows presenting the main ideas related to current economic situation. Social implications The findings are of great value for adjusting the monetary policy of central banks. Also, these are important for
{"title":"Monetary policy and market interest rates: literature review using text analysis","authors":"E. Fedorova, E. Meshkova","doi":"10.1108/ijdi-02-2021-0049","DOIUrl":"https://doi.org/10.1108/ijdi-02-2021-0049","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine the relationship between monetary policy and market interest rates. This paper examines the efficiency of interest rate channel used in monetary regulation as well as implementation of monetary policy under low interest rates. This paper examines and reviews the scientific literature published over the past 30 years to determine primary research areas, to summarize their results and to identify appropriate measures of monetary policy to be used in practice in changing economic environment.\u0000\u0000\u0000Design/methodology/approach\u0000This paper reviews 94 studies focused on the relationship between monetary policy and market interest rates in terms of meeting the goals of macroeconomic regulation. The articles are selected on the basis of Scopus citation and bibliometric analysis. A major feature of this paper is the use of text analysis (data preparation, frequency of terms and collocations use, examination of relationships between terms, use of principal component analysis to determine research thematic areas). Using the method of principal component analysis while studying abstracts this paper reveals thematic areas of the research. Thus, the conducted text analysis provides unbiased results.\u0000\u0000\u0000Findings\u0000First, this paper examines the whole complex of relationships between monetary policy of central banks and market interest rates. Second, this research reviews a wide range of literature including recent studies focused on specific features of monetary policy under low and negative rates. Third, this study identifies and summarizes the thematic areas of all the researches using text analysis (transmission mechanism of monetary policy, efficiency of zero interest rate policy, monetary policy and term structure of interest rates, monetary policy and interest rate risk of banks, monetary policy of central banks and financial stability). Finally, this paper presents the most important findings of the studied articles related to the current situation and trends on the financial market as well as further research opportunities. This paper finds the principal results of studies on significant issues of monetary policy in terms of its efficiency under low interest rates, influence of its instruments on term structure of interest rates and role of banking sector in implementation of transmission mechanism of monetary policy.\u0000\u0000\u0000Research limitations/implications\u0000The limitation of the review is examining articles for the study period of 30 years.\u0000\u0000\u0000Practical implications\u0000Central banks of emerging economies should apply the instruments and results of the countries' monetary policies reviewed in this paper. Using text analysis this paper reveals the main thematic areas and summarizes findings of the articles under study. The analysis allows presenting the main ideas related to current economic situation.\u0000\u0000\u0000Social implications\u0000The findings are of great value for adjusting the monetary policy of central banks. Also, these are important for","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46374123","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 : 2021-08-16DOI: 10.1108/ijdi-04-2021-0088
S. P. Kumah, Jones Odei-Mensah
Purpose The paper aims to examine the asymmetric response of three major altcoins to shocks in six African fiat currencies in a time-frequency space. Design/methodology/approach Data are for the period 10th August 2015 to 2nd February 2019 at a daily frequency. The authors capture the time and frequency information in the return series of the currencies using the ensemble empirical mode decomposition. The authors implemented quantile regression and quantile-in-quantile regression on the decomposed series to test the response of altcoins to both positive and negative shocks in the fiat currencies across time to see if the altcoins are viable alternatives to African fiat currencies. Findings The outcome of the study suggests that altcoins behave differently from African fiat currencies and are viable alternative digital currencies and good hedges for African fiat currencies from the medium-term. Research limitations/implications Policymakers in Africa and across the globe can follow this paper to mitigate currency crises by adopting altcoins as alternatives to fiat currencies. Forex traders can also mitigate trade risk by using altcoins to hedge dollar/African fiat currency exchange rate risk. Originality/value The research was conducted by the authors and has not been published in any journal.
{"title":"Can altcoins become viable alternatives to African fiat currencies?","authors":"S. P. Kumah, Jones Odei-Mensah","doi":"10.1108/ijdi-04-2021-0088","DOIUrl":"https://doi.org/10.1108/ijdi-04-2021-0088","url":null,"abstract":"\u0000Purpose\u0000The paper aims to examine the asymmetric response of three major altcoins to shocks in six African fiat currencies in a time-frequency space.\u0000\u0000\u0000Design/methodology/approach\u0000Data are for the period 10th August 2015 to 2nd February 2019 at a daily frequency. The authors capture the time and frequency information in the return series of the currencies using the ensemble empirical mode decomposition. The authors implemented quantile regression and quantile-in-quantile regression on the decomposed series to test the response of altcoins to both positive and negative shocks in the fiat currencies across time to see if the altcoins are viable alternatives to African fiat currencies.\u0000\u0000\u0000Findings\u0000The outcome of the study suggests that altcoins behave differently from African fiat currencies and are viable alternative digital currencies and good hedges for African fiat currencies from the medium-term.\u0000\u0000\u0000Research limitations/implications\u0000Policymakers in Africa and across the globe can follow this paper to mitigate currency crises by adopting altcoins as alternatives to fiat currencies. Forex traders can also mitigate trade risk by using altcoins to hedge dollar/African fiat currency exchange rate risk.\u0000\u0000\u0000Originality/value\u0000The research was conducted by the authors and has not been published in any journal.\u0000","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44852136","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 : 2021-08-14DOI: 10.1108/ijdi-03-2021-0065
S. Kapoor, Sanjeev Kapoor
Purpose Doubling farming households’ income through occupational diversification to the non-farm sector has been advocated to be of paramount importance in an agrarian economy such as India. The purpose of this paper is to analyse the effects of non-farm activities on rural household incomes in four different Indian states by using a propensity score matching technique and developing an endogenous switching model. Design/methodology/approach The research is based on secondary data taken from four quinquennial rounds of employment and unemployment surveys conducted by the National Sample Survey Organization. Findings The matching results indicate a maximum monthly rise in per capita income of Rs. 60 in Gujarat and a minimum increase of Rs. 18 in Rajasthan among rural households employed in the non-farm sector as compared to the farm sector. The findings confirm that rural non-farm structural diversification cannot be viewed as a blueprint for increasing rural household incomes in different states. Further, it suggests the need to segmenting the different states on the basis of agricultural development for increasing rural incomes. Research limitations/implications The study argues that Indian states with a strongly developed farm sector i.e. Gujarat and Punjab are not ideally suited to undergo structural changes in their economic pursuit. The estimates suggest that the transition of rural households from farm to non-farm-sector activities is a very weak strategy in agriculturally developed states of Gujarat and Punjab, whereas non-farm diversification becomes a pivotal strategy for increasing rural household incomes in less agriculturally developed states such as Rajasthan and Uttar Pradesh. A contrasting point that arises from these evidence is that although diversification to the non-farm sector leads to higher income, but the resultant figures are very scanty. Originality/value The present study contributes to the existing literature by providing evidence and policy implications on rural non-farm diversification in India and its impact on the rural household income. The study can help the policymakers in framing policies aiming at increasing the income of the rural household through the structural transition of the rural economy.
{"title":"Effectiveness of non-farm diversification on rural household income – evidence and policy implications from India","authors":"S. Kapoor, Sanjeev Kapoor","doi":"10.1108/ijdi-03-2021-0065","DOIUrl":"https://doi.org/10.1108/ijdi-03-2021-0065","url":null,"abstract":"\u0000Purpose\u0000Doubling farming households’ income through occupational diversification to the non-farm sector has been advocated to be of paramount importance in an agrarian economy such as India. The purpose of this paper is to analyse the effects of non-farm activities on rural household incomes in four different Indian states by using a propensity score matching technique and developing an endogenous switching model.\u0000\u0000\u0000Design/methodology/approach\u0000The research is based on secondary data taken from four quinquennial rounds of employment and unemployment surveys conducted by the National Sample Survey Organization.\u0000\u0000\u0000Findings\u0000The matching results indicate a maximum monthly rise in per capita income of Rs. 60 in Gujarat and a minimum increase of Rs. 18 in Rajasthan among rural households employed in the non-farm sector as compared to the farm sector. The findings confirm that rural non-farm structural diversification cannot be viewed as a blueprint for increasing rural household incomes in different states. Further, it suggests the need to segmenting the different states on the basis of agricultural development for increasing rural incomes.\u0000\u0000\u0000Research limitations/implications\u0000The study argues that Indian states with a strongly developed farm sector i.e. Gujarat and Punjab are not ideally suited to undergo structural changes in their economic pursuit. The estimates suggest that the transition of rural households from farm to non-farm-sector activities is a very weak strategy in agriculturally developed states of Gujarat and Punjab, whereas non-farm diversification becomes a pivotal strategy for increasing rural household incomes in less agriculturally developed states such as Rajasthan and Uttar Pradesh. A contrasting point that arises from these evidence is that although diversification to the non-farm sector leads to higher income, but the resultant figures are very scanty.\u0000\u0000\u0000Originality/value\u0000The present study contributes to the existing literature by providing evidence and policy implications on rural non-farm diversification in India and its impact on the rural household income. The study can help the policymakers in framing policies aiming at increasing the income of the rural household through the structural transition of the rural economy.\u0000","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45401983","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 : 2021-06-16DOI: 10.1108/IJDI-12-2020-0268
Henry Mooney, M. Cárdenas
Purpose This study aims to unify phenomena in academic and grey literature into a theory of marine spatial disappropriation based on geopolitical relationships. It is argued that conflict over marine space arises as a result of top-down sovereign control of marine resources, and that the recognition of marine tenure and greater inclusivity in marine development* decision-making would lessen conflict between users, such as artisanal fishermen and ecotourism businesses. Design/methodology/approach A preliminary literature review was conducted, followed by a research study at Cabo Pulmo National Park (CPNP) in Baja California Sur, Mexico. Findings The results demonstrate that though CPNP's tenure structure is unique and inclusivity is an element of its management, the degree to which it is practiced is not sufficient to eliminate the chance of eventual disappropriation and ensuing conflict. Practical implications The results of this assessment can be used to strengthen the argument in favour of developing stronger requirements for deliberative democratic decision-making in marine delineation, as well as bolder social performance standards in marine development industries. Originality/value Research on socio-environmental revolutions are not new, but the authors contest that they are not alone a sufficient condition for achieving reduced conflict long-term. Instead, the originality of this research lies in its exploration of the importance of customary and formal tenure over marine resources, and its suggestion that this on the whole reduces conflict between exclusive and competing interests. One popular alternative, as demonstrated in numerous cases around the globe, can often be the marginalization of small-scale ocean users through the forceful appropriation of ocean resources.
{"title":"An assessment of the roles of tenure and inclusion in conflict mediation at Cabo Pulmo National Park, Mexico","authors":"Henry Mooney, M. Cárdenas","doi":"10.1108/IJDI-12-2020-0268","DOIUrl":"https://doi.org/10.1108/IJDI-12-2020-0268","url":null,"abstract":"\u0000Purpose\u0000This study aims to unify phenomena in academic and grey literature into a theory of marine spatial disappropriation based on geopolitical relationships. It is argued that conflict over marine space arises as a result of top-down sovereign control of marine resources, and that the recognition of marine tenure and greater inclusivity in marine development* decision-making would lessen conflict between users, such as artisanal fishermen and ecotourism businesses.\u0000\u0000\u0000Design/methodology/approach\u0000A preliminary literature review was conducted, followed by a research study at Cabo Pulmo National Park (CPNP) in Baja California Sur, Mexico.\u0000\u0000\u0000Findings\u0000The results demonstrate that though CPNP's tenure structure is unique and inclusivity is an element of its management, the degree to which it is practiced is not sufficient to eliminate the chance of eventual disappropriation and ensuing conflict.\u0000\u0000\u0000Practical implications\u0000The results of this assessment can be used to strengthen the argument in favour of developing stronger requirements for deliberative democratic decision-making in marine delineation, as well as bolder social performance standards in marine development industries.\u0000\u0000\u0000Originality/value\u0000Research on socio-environmental revolutions are not new, but the authors contest that they are not alone a sufficient condition for achieving reduced conflict long-term. Instead, the originality of this research lies in its exploration of the importance of customary and formal tenure over marine resources, and its suggestion that this on the whole reduces conflict between exclusive and competing interests. One popular alternative, as demonstrated in numerous cases around the globe, can often be the marginalization of small-scale ocean users through the forceful appropriation of ocean resources.\u0000","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43753116","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 : 2021-06-16DOI: 10.1108/IJDI-02-2021-0047
Cemil Çiftçi, H. Ulucan
Purpose This study aims to analyze the wage differentials of the majors in college education in Turkey, which is a country implementing an ongoing expansion in college education in recent years. Design/methodology/approach The study implements Mincreian wage regression using ordinary least squares, Heckman two-step estimation and quantile regression with sample selection correction by using household labor force surveys of TurkStat from the years 2014–2017. Findings The findings indicate one of the highest heterogeneity, close to 0.50 log points, between majors in the literature. The within-heterogeneity created by majors is highest among the graduates of social-behavioral sciences, law, biology, physics, mathematics, statistics, computer, engineering and manufacturing, as shown by a 90–10 difference, which is almost 700% for some of these majors. This study shows that the natural science and technical majors that are expected to be more productive and to be paid more fall behind in the wage distribution. Research limitations/implications Estimation results show that natural science majors, except for subjects allied to medicine and engineering, are paid lower than law and service-sector-related majors. This indicates that the predictions of the skill-biased technical change hypothesis are not valid in the wage profiles in Turkey and that some majors supply more than the sectoral needs. This casts doubts on the effectiveness of the ongoing higher education expansion process of the country. Originality/value This study contributes to the literature on wage differentials of college majors, an area with limited studies. This is the first study analyzing wage differentials of the field of studies by correcting sample selection bias for the Turkish case.
{"title":"College majors and wages in Turkey: OLS and quantile regression with sample selection correction","authors":"Cemil Çiftçi, H. Ulucan","doi":"10.1108/IJDI-02-2021-0047","DOIUrl":"https://doi.org/10.1108/IJDI-02-2021-0047","url":null,"abstract":"\u0000Purpose\u0000This study aims to analyze the wage differentials of the majors in college education in Turkey, which is a country implementing an ongoing expansion in college education in recent years.\u0000\u0000\u0000Design/methodology/approach\u0000The study implements Mincreian wage regression using ordinary least squares, Heckman two-step estimation and quantile regression with sample selection correction by using household labor force surveys of TurkStat from the years 2014–2017.\u0000\u0000\u0000Findings\u0000The findings indicate one of the highest heterogeneity, close to 0.50 log points, between majors in the literature. The within-heterogeneity created by majors is highest among the graduates of social-behavioral sciences, law, biology, physics, mathematics, statistics, computer, engineering and manufacturing, as shown by a 90–10 difference, which is almost 700% for some of these majors. This study shows that the natural science and technical majors that are expected to be more productive and to be paid more fall behind in the wage distribution.\u0000\u0000\u0000Research limitations/implications\u0000Estimation results show that natural science majors, except for subjects allied to medicine and engineering, are paid lower than law and service-sector-related majors. This indicates that the predictions of the skill-biased technical change hypothesis are not valid in the wage profiles in Turkey and that some majors supply more than the sectoral needs. This casts doubts on the effectiveness of the ongoing higher education expansion process of the country.\u0000\u0000\u0000Originality/value\u0000This study contributes to the literature on wage differentials of college majors, an area with limited studies. This is the first study analyzing wage differentials of the field of studies by correcting sample selection bias for the Turkish case.\u0000","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46287447","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 : 2021-05-17DOI: 10.1108/IJDI-01-2021-0001
Raufhon Salahodjaev
Purpose The purpose of this study is to extend related literature on life satisfaction. In particular, the author explores the link between tolerance, governance and life satisfaction inequality in a sample of 81 countries. While studies have shown that tolerance and governance are separately linked to subjective well-being, no study has shown their mutual relationship to life satisfaction inequality. Design/methodology/approach Considering the existing link between tolerance and quality of institutions, in this study, the author explores the relationship between tolerance and life satisfaction inequality and the mediating role of governance. This research could be embedded in the framework of ballooning research exploring the effect of societal values on institutions and life satisfaction. Findings The empirical findings suggest more tolerant societies are more likely to have more even levels of life satisfaction, but this correlation is completely mediated by governance. Quality of institutions thus seem to be one of the core channels by which societies that value tolerance achieve more equal distribution of happiness. The author also finds that while GDP per capita evens out happiness, income inequality increases the gap in life satisfaction within society. Originality/value To the best of the author’s knowledge, this study is the first that relies on most up-to-date cross-country data to explore a novel channel through which tolerance may be linked to subjective well-being. In particular, in this study, the author posits that tolerance may have been linked to subjective well-being indirectly via its impact on quality of institutions (governance).
{"title":"Tolerance, governance and happiness (in)equality: cross-country evidence","authors":"Raufhon Salahodjaev","doi":"10.1108/IJDI-01-2021-0001","DOIUrl":"https://doi.org/10.1108/IJDI-01-2021-0001","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to extend related literature on life satisfaction. In particular, the author explores the link between tolerance, governance and life satisfaction inequality in a sample of 81 countries. While studies have shown that tolerance and governance are separately linked to subjective well-being, no study has shown their mutual relationship to life satisfaction inequality.\u0000\u0000\u0000Design/methodology/approach\u0000Considering the existing link between tolerance and quality of institutions, in this study, the author explores the relationship between tolerance and life satisfaction inequality and the mediating role of governance. This research could be embedded in the framework of ballooning research exploring the effect of societal values on institutions and life satisfaction.\u0000\u0000\u0000Findings\u0000The empirical findings suggest more tolerant societies are more likely to have more even levels of life satisfaction, but this correlation is completely mediated by governance. Quality of institutions thus seem to be one of the core channels by which societies that value tolerance achieve more equal distribution of happiness. The author also finds that while GDP per capita evens out happiness, income inequality increases the gap in life satisfaction within society.\u0000\u0000\u0000Originality/value\u0000To the best of the author’s knowledge, this study is the first that relies on most up-to-date cross-country data to explore a novel channel through which tolerance may be linked to subjective well-being. In particular, in this study, the author posits that tolerance may have been linked to subjective well-being indirectly via its impact on quality of institutions (governance).\u0000","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43443492","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 : 2021-05-17DOI: 10.1108/IJDI-11-2020-0261
Stanley Emife Nwani
Purpose The purpose of this study is to examine the interactive role of human capital development (HCD) in foreign aid-growth relations in South Asia and sub-Saharan Africa countries from 1985–2019. Design/methodology/approach The study used panel data that cut across all countries in South Asia and sub-Saharan Africa collected from The World Bank’s Development Indicators. The data were analysed using Bai and Ng panel unit root idiosyncratic cross-sectional tests and the system generalised method of moments (SGMM). Findings The study found that foreign aid and HCD have negative impacts on economic growth. Fortunately, the interaction of human capital with foreign aid reduces the extent to which foreign aid impedes economic growth. The presumption is that South Asia and sub-Saharan Africa economies had not reaped the potential growth effect of foreign aid inflows due to high illiteracy rates and weak social capacities. The peculiarity of these regions hinders the absorptive capacity to transform positive externality associated with foreign aid into sizeable economic prosperity. Practical implications It is imperative for South Asia and sub-Saharan Africa countries to not depend on foreign aid; instead, the strategic action by policymakers should be to developing sustainable social capacities with HCD as the centre-piece. Originality/value The highpoint of this study is its inter-regional approach and the interplay between human capital and foreign aid using the second generation panel unit root estimator and the SGMM approaches.
{"title":"Human capital interaction on foreign aid-growth nexus: evidence from South Asia and sub-Saharan Africa","authors":"Stanley Emife Nwani","doi":"10.1108/IJDI-11-2020-0261","DOIUrl":"https://doi.org/10.1108/IJDI-11-2020-0261","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to examine the interactive role of human capital development (HCD) in foreign aid-growth relations in South Asia and sub-Saharan Africa countries from 1985–2019.\u0000\u0000\u0000Design/methodology/approach\u0000The study used panel data that cut across all countries in South Asia and sub-Saharan Africa collected from The World Bank’s Development Indicators. The data were analysed using Bai and Ng panel unit root idiosyncratic cross-sectional tests and the system generalised method of moments (SGMM).\u0000\u0000\u0000Findings\u0000The study found that foreign aid and HCD have negative impacts on economic growth. Fortunately, the interaction of human capital with foreign aid reduces the extent to which foreign aid impedes economic growth. The presumption is that South Asia and sub-Saharan Africa economies had not reaped the potential growth effect of foreign aid inflows due to high illiteracy rates and weak social capacities. The peculiarity of these regions hinders the absorptive capacity to transform positive externality associated with foreign aid into sizeable economic prosperity.\u0000\u0000\u0000Practical implications\u0000It is imperative for South Asia and sub-Saharan Africa countries to not depend on foreign aid; instead, the strategic action by policymakers should be to developing sustainable social capacities with HCD as the centre-piece.\u0000\u0000\u0000Originality/value\u0000The highpoint of this study is its inter-regional approach and the interplay between human capital and foreign aid using the second generation panel unit root estimator and the SGMM approaches.\u0000","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46380857","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 : 2021-02-11DOI: 10.1108/IJDI-03-2020-0035
F. Omotayo, Olasubomi Adetutu Adekunle
Purpose This study aims to investigate the adoption and use of electronic voting (e-voting) system as an option to credible elections in Nigeria, as well as the factors that could influence the readiness of Oyo state citizens in Nigeria to use the system. Design/methodology/approach The study adopts the survey research design, while the Technology Readiness Acceptance Model provides the theoretical framework. A two-stage sampling procedure (random and convenience) was used to select 500 Nigerian citizens, who are of voting age, while data were collected with a structured questionnaire. Findings Findings reveal that the citizens are ready to use the e-voting system if adopted by the Nigerian Government. Optimism and innovativeness are positively correlated, and perceived discomfort and perceived insecurity are negatively correlated, with readiness to use e-voting system by Oyo state citizens. The Technology Acceptance Model constructs (perceived usefulness and perceived ease of use), as well as computer self-efficacy also have positive correlations with readiness to use of e-voting. Research limitations/implications The population of the study was limited to only citizens in one state of the federation; hence, the results cannot be generalised to all citizens in Nigeria. Practical implications The study contributes to existing knowledge on adoption and use of technology and confirms that optimism and innovativeness are motivators and discomfort and insecurity are inhibitors of intention to use and actual usage of technology. Hence, these constructs should be taken into account and promoted when Nigeria is planning to adopt the e-voting system. Social implications This paper could assist the Nigerian Government on the factors to consider when implementing the e-voting system. Originality/value This paper is one of the first pieces of empirical research that attempted to investigate the factors that could promote acceptance and use of the e-voting system in Nigeria.
{"title":"Adoption and use of electronic voting system as an option towards credible elections in Nigeria","authors":"F. Omotayo, Olasubomi Adetutu Adekunle","doi":"10.1108/IJDI-03-2020-0035","DOIUrl":"https://doi.org/10.1108/IJDI-03-2020-0035","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate the adoption and use of electronic voting (e-voting) system as an option to credible elections in Nigeria, as well as the factors that could influence the readiness of Oyo state citizens in Nigeria to use the system.\u0000\u0000\u0000Design/methodology/approach\u0000The study adopts the survey research design, while the Technology Readiness Acceptance Model provides the theoretical framework. A two-stage sampling procedure (random and convenience) was used to select 500 Nigerian citizens, who are of voting age, while data were collected with a structured questionnaire.\u0000\u0000\u0000Findings\u0000Findings reveal that the citizens are ready to use the e-voting system if adopted by the Nigerian Government. Optimism and innovativeness are positively correlated, and perceived discomfort and perceived insecurity are negatively correlated, with readiness to use e-voting system by Oyo state citizens. The Technology Acceptance Model constructs (perceived usefulness and perceived ease of use), as well as computer self-efficacy also have positive correlations with readiness to use of e-voting.\u0000\u0000\u0000Research limitations/implications\u0000The population of the study was limited to only citizens in one state of the federation; hence, the results cannot be generalised to all citizens in Nigeria.\u0000\u0000\u0000Practical implications\u0000The study contributes to existing knowledge on adoption and use of technology and confirms that optimism and innovativeness are motivators and discomfort and insecurity are inhibitors of intention to use and actual usage of technology. Hence, these constructs should be taken into account and promoted when Nigeria is planning to adopt the e-voting system.\u0000\u0000\u0000Social implications\u0000This paper could assist the Nigerian Government on the factors to consider when implementing the e-voting system.\u0000\u0000\u0000Originality/value\u0000This paper is one of the first pieces of empirical research that attempted to investigate the factors that could promote acceptance and use of the e-voting system in Nigeria.\u0000","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43378711","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 : 2021-02-11DOI: 10.1108/IJDI-06-2020-0139
O. Popogbe, S. O. Akinleye, Mautin David Oke
Purpose This paper aims to measure multi-dimensional poverty in Lagos State slums. This study is relevant because slums are becoming a present-day reality for urban cities and it is now paramount to understand the dynamics of deprivations suffered under various dimensions in the slums. Design/methodology/approach A multi-stage sampling technique is used to sample 400 respondents from five slums (Makoko, Iwaya, Ilaje, IjoraBadia and Amukoko) in Lagos State and information have gotten using a structured questionnaire. The fuzzy set approach to measuring multi-dimensional poverty index (MPI) is used in estimating the MPI for the slums. Findings The findings from the study show that although all the slums have varying MPI; however, the average MPI for the slums is 0.49. Further findings show that majority of the households are largely deprived in the education dimension, proceeded by the living standards dimension and finally, health dimension. Research limitations/implications The current study focused on a few selected slums in Lagos State and findings show that it may be erroneous to absolutely adopt policy implications derived for other major slums in cities around the world. Originality/value This study advances the frontier of slum studies in Nigeria by following an analytical path in understanding the degree of poverty in the slums.
{"title":"Fuzzy set approach to measuring urban poverty: a case of Lagos State slums","authors":"O. Popogbe, S. O. Akinleye, Mautin David Oke","doi":"10.1108/IJDI-06-2020-0139","DOIUrl":"https://doi.org/10.1108/IJDI-06-2020-0139","url":null,"abstract":"Purpose\u0000This paper aims to measure multi-dimensional poverty in Lagos State slums. This study is relevant because slums are becoming a present-day reality for urban cities and it is now paramount to understand the dynamics of deprivations suffered under various dimensions in the slums.\u0000\u0000\u0000Design/methodology/approach\u0000A multi-stage sampling technique is used to sample 400 respondents from five slums (Makoko, Iwaya, Ilaje, IjoraBadia and Amukoko) in Lagos State and information have gotten using a structured questionnaire. The fuzzy set approach to measuring multi-dimensional poverty index (MPI) is used in estimating the MPI for the slums.\u0000\u0000\u0000Findings\u0000The findings from the study show that although all the slums have varying MPI; however, the average MPI for the slums is 0.49. Further findings show that majority of the households are largely deprived in the education dimension, proceeded by the living standards dimension and finally, health dimension.\u0000\u0000\u0000Research limitations/implications\u0000The current study focused on a few selected slums in Lagos State and findings show that it may be erroneous to absolutely adopt policy implications derived for other major slums in cities around the world.\u0000\u0000\u0000Originality/value\u0000This study advances the frontier of slum studies in Nigeria by following an analytical path in understanding the degree of poverty in the slums.","PeriodicalId":37830,"journal":{"name":"International Journal of Development Issues","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47386083","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}
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