Tag Archives: Economic Development

Enhancing Entrepreneurial Education Skills in Electrical Installation for Sustainable Economic Development (Published)

The Paper discussed the enhancement of entrepreneurial education skills in Electrical installation for sustainable economic development. School leavers from various institutions face skill opportunities of securing employment including those that studied electrical installation maintenance work. Entrepreneurial education was discussed as a suiting solution that would enable the graduates learn skills that would make them survive by establishing electrical installation related enterprises for sustainable economic development. Some factors that would promote entrepreneurship education include adequate provision of fund to establish entrepreneurial education system, revitalization of electricity supplies and expansion of educational facilities for entrepreneurial development. Entrepreneurial competences identified for sustainable economic development among Electrical Installation graduates include managerial, accounting, marketing and competitive skills. The paper also identified concrete reasons for entrepreneurial education to include provision of necessary skills, ability of students to transit from school to work among others. When entrepreneurial education is enhanced, sustainable economic development will be realized.

 

Keywords: Economic Development, Education, Electrical Installation, Skills, entrepreneurial education

Human Capital Effectiveness in Creating Diversification for Economic Development in Nigeria (Published)

This paper examines the relationship between human capital effectiveness in creating diversification for economic development in Nigeria. To enhance economic development in Nigeria adequate time and resources must be commission into developing human capital. That is providing education and training, infrastructural facilities and friendly working environment that will enable these human element to strive in different dimensions in the economy. This paper further explains that, by so doing, the knowledge, skills and competences acquired by the human element remains an assets to creating enormous ideas that will help in diversifying the economy of Nigeria from oil to non-oil sectors for future economic growth.

Keywords: : Human Capital, Diversification, Economic Development

The Gap between Employers and Unemployed, Challenges for Employability in Guanacaste Province of Costa Rica (Published)

The purpose of this research is to analyze the challenges for employability in Guanacaste through the discussion of variables that influence job offers and the conditions of job seekers, with a focus on the relevance of employment for economic development of the country and the relationship of higher education with obtaining employment. The methodology includes a descriptive research, with a quantitative approach, which studies guanacastecans in unemployment, applying a survey to a sample of 76 university students. The results show that people feel prepared and with the necessary competences for employment, but perceive little support from local governments, institutions and even the universities to open employment opportunities. The experience barrier is relevant, looked by employers; among the competences that increase the possibilities of employment are the soft skills, English language management, as well as the updating in technological tools. Considering conclusions, communication between universities, local governments and other institutions should improve with business sectors, to generate a clear picture and increase employment options. Together with efforts such as more job fairs and intermediation offices, the unemployed will have a link to find employment and employers can have a clear profile of the people who seek a job. In short, the challenges are diverse and requires efforts from various parties, from the unemployed who must develop adequate skills, to employers who value human talent in Guanacaste.

Keywords: Economic Development, Education, Employability, Skills, Unemployment

Carnival Activity and Economic Development of Youths in Southern Senatorial District of Cross River State, Nigeria: Implication for Environmental Adult Education (Published)

This paper investigated carnival activity and economic development of youths in Southern Senatorial District of Cross River State, Nigeria: Implication for environmental adult education. To achieve the purpose of this study, one (1) null hypothesis was formulated to direct the study. Survey research design was adopted for the study. The sample was made of five hundred and forty four (544) respondents drawn from the area of the study. The instruments for data collection were Carnival Activity Questionnaire (CAQ) and Economic Development Questionnaire (EDQ) developed by the researchers which were validated by three (3) experts in Measurement and Evaluation. The reliability was established through test-retest reliability. Pearson Product Moment Correlation analysis was adopted to test the hypothesis at 0.05 level of significance. The result of the analysis revealed that carnival activities had significant influence on economic development of the State. It was therefore recommended that the Calabar annual carnival should be decentralized and extended to other zones and Local Government Areas of the State to enable them showcase their tourism potentials which has remain in obscurity.

Keywords: Carnival activity, Economic Development, Youths

Amusement Parks and Economic Development of Youths in Southern Senatorial District of Cross River State, Nigeria: Implication for Environmental Adult Education (Published)

This paper examined amusement park and economic development of youths in Southern Senatorial District of Cross River State, Nigeria: Implication for environmental adult education. To achieve the purpose of this study, one null hypothesis was formulated to direct the study. Survey research design was adopted for the study. The sample of the study consisted of five hundred and forty-four (544) respondents drawn from the area of the study. The instruments for data collection were Tourism Activities Questionnaire (TAQ) and Economic Development Questionnaire (EDQ) developed by the researchers which were validated by three (3) experts in Measurement and Evaluation. The reliability was established through test-retest reliability. Pearson Product Moment Correlation analysis was adopted to test the hypothesis at 0.05 level of significance. The result of the analysis revealed that there is a significant relationship between amusement park activities and economic development in the area. Based on the result of the findings, it was recommended that amusement parks such as ranch resort, Tinapa, Marina resort among others should be established, managed and maintained to encourage tourism activities in this regard.

Keywords: Amusement park, Economic Development, Youths

One Belt One Road a Great project of Far-reaching Economic Development & Trend of Global modern Development Rules (Published)

The One Belt One Road project is a project initiated by China and officially launched in 2013 by Chinese President Xi Jinping, during his visit to Kazakhstan. The One Belt One Road project is a project of global dimension.  In order to approach such a complex and multifaceted subject a retrospective historical analysis in regards to this particular project’s origin and idea is required. This global project involves linking Asia, Europe, and Africa with new road and maritime infrastructures. Since its launch in 2013, this project is attracting financially and diplomatically many collaborators. Evermore frequent international conferences have been hosted by China but a particular high-profile summit on May 15, 2017, held in Beijing and was attended by twenty-nine heads of state, as well as numerous government officials. Sixty-Eight countries that were involved in the summit eventually closed with a “joint declaration” signed by thirty countries, followed by 270 cooperation agreements. The vision of the “New Silk Road”, better known today as the “One Belt, One Road” (OBOR) is determined to take a major step in leading the trend in globalization in the 21st century which can be seen by an injection of enormous means from various sectors in order to make this project a fruitful realization.  The main objective of this literary work is to make evident the ambitions of Beijing through the “OBOR” project and to make clear the strategies for implementing the project as well as its impact on global economic development exploiting different development sectors concerned.

Keywords: China, Economic Development, Modern Great Project, One Belt One Road, Rules, Trend of Global Development

Stakeholders’ Perception of Contribution of Graduates of Women Centre for Continue Education to Economic and Political Development in Northwest Nigeria (Published)

The paper examined the stakeholders’ perception of contribution of graduates of women centre for continue education economic and political development in northwest Nigeria. These stakeholders in education design on the outcome of schooling and the purposes of learning. The population of this study consisted of all the stakeholders in education that comprised the students, graduates, teachers, school administrators, Ministry personnel, Quality Assurances officers in the North-west zone of Nigeria. The population total was 1970 out of this numbers, 1261 respondents were proportionately selected for the study. Four states were selected out of the seven North-western states using purposive sampling technique. 2 research questions were raised for the study and three (3) hypotheses were formulated descriptive  statistics was used to answer  the  research questions .While, chi-square statistical analysis was used to  answer the formulated hypotheses.. The study concludes that there is significant association between stakeholders’ perception of graduates’ contribution to economic and political development in Northwest Nigeria. It was recommended that Stakeholders should therefore advance measures to encourage and motivate women to strive harder and continue the political and economic advancement in Northwest Nigeria.

Keywords: Economic Development, Political Development, Stakeholders, Women Center, graduates

The Roles of Education in Nigeria: Implication to Economic Development. (Published)

This paper examines the roles of education on economic development. However, it stated clearly the contributions of education on economic acceleration in Nigeria. Yet, it also discussed the types of education. Similarly, it explained the implication of education on the economic development.     

Keywords: Contribution, Economic Development, Implication, roles of education

The Role of Small Medium Enterprises in Reducing the Problem of Unemployment in Jordan (Published)

The Jordanian economy is mainly considered a SMEs based economy where small and medium enterprises (SMEs) contribute 98% of Jordanian enterprises and their Employees represent around 60% of the labor force with a total product counts around 50% of the GDP. SMEs sector has been faced with many challenges that have started with development happening in Jordan into a highly freed and open market economy. The whole thing was quickly moving and upgrading, which resulted in a biased and a long-lasting effect on SMEs. Jordan started its open market policy and deregulation in 2000 and then Nine years later the SMEs sector was affected again with the economic disaster. SME plays an essential role in improving Jordanian employment section. This research shows the impact of SMEs in reducing the problem of Unemployment in Jordon. It highlights the main factors affecting the improvement and job opportunities creation. There is increasing evidence that SMEs play an essential role in the economic development in Jordan. SME’s provide the majority of new jobs opportunities and produce much of the creativity that leads economic progress. SMEs is the only solution to open new job opportunities to a huge number of Jordanians. This paper highlights this to measure how SMEs can reduce unemployment problem in any country and considering Jordan as case study.

Keywords: Economic Development, Job opportunities creation., Small Medium Enterprises, Unemployment

Women and Economic Development in Ehugbo Society, 1900-1960 (Published)

The role of women in the economy of Ehugbo during the colonial period has remained largely understudied by historians. This is in spite of the fact that both in terms of their numerical strength and economic importance, women’s role in Ehugbo deserves attention. This paper argued   that through their collective and individual activities, the women-folk, both as mothers, farmers, traders and producers, wielded enough economic power to contribute significantly to community, state and international development. They were responsive and receptive to economic opportunities and innovations. This did not obfuscate the fact that during the colonial period, the people’s efforts and resources were not used for the development of their area but were rather exported to the metropolitan country. Also since it was reasoned that a woman’s place in the society was the home, the colonial government never thought in terms of encouraging the women in develop their potentials through its administrative and economic policies neither was it deemed expedient by the colonial government to integrate the women into the development process of the colonized areas. It is argued that in their various endeavours, women demonstrated remarkable creativity, ingenuity and entrepreneurship, which enabled them to face the challenges of the period. With their economic power, the women were well placed to actively participate in the development of the area.

Keywords: Economic Development, Economic Structure, Local Instructress, Women

An Appraisal of Nigeria’s Micro, Small and Medium Enterprises (MSMES): Growth, Challenges and Prospects (Published)

This paper took a critical appraisal of the Micro, Small and Medium Enterprises (MSMEs) in Nigeria. The major focus of this work was to expatiate on the growth, challenges and prospects of the MSMEs in the country. While attempting to give an appropriate definition for Micro, Small and Medium Enterprises using employment strength and asset base criteria, the work revealed that SMEs contribute significantly to economic development in the provision of goods and services, creation of employment and contribute to a high standard of living. There are some setbacks facing the over 17,284,671 Micro, Small and Medium Enterprises in Nigeria. These setbacks include; limited financing, lack of action plan to deal with eventualities, lack of managerial and marketing skill, and lack of research appreciation and technical expertise. The study concluded that entrepreneurship is regarded as the catalyst in most developing economies and that it is very crucial to the economic growth and development of Nigeria. As such, it was recommended that government policies should support the establishment, nurturing and growth of SMEs by curtailing or banning importation of certain products, training of young entrepreneurs, establishment of Centers for Entrepreneurial Development and promoting entrepreneurial spirit through the provision of conducive entrepreneurial environment, funding and empowerment programmes. This will facilitate the training and retraining of entrepreneurs and also help Nigerian youths to develop interest in entrepreneurship.

Keywords: Economic Development, Micro, Nigeria, Small and Medium Enterprises, Technical Expertise

The Double Entry Book Keeping (Deb) System and the Emergence of Ethics and the Spirit of Capitalism (Published)

The purpose of this paper is to cast a new light on the post-Sombartian debate on development of double entry. Sombart (1916) thought that the invention of double-entry bookkeeping was essential to the birth of capitalism. It is known that Max Weber developed the same theme, but to a lesser extent. Epochs after, accounting scholars have debated the idea quite extensively during the 20th century. All these previous works have in common the fact that address the historical question by comparing accounting practices to business practices, some of which are interpreted as capitalist. In this paper, the aim is not to understand the birth of capitalism, but to contribute to understanding of the birth of the concept of capitalism itself from accounting thoughts perceptive. The concept of capitalism came about in the 19th century. At that time, capitalism and a certain kind of double-entry bookkeeping practice that was able to highlight the circuit of capital were inextricably linked. It might be suggested that this historical situation greatly helped the scholars of the period to conceptualize what they called capitalism, and it is easy to show that the notion of capitalism itself is rooted in accounting thoughts. Therefore, the work will present the account of how the concept of capitalism was innovated as example of the influence of accounting thoughts on economic and sociological development. In view therefore, of the eminent position occupied by the concept of capitalism in both past and present intellectual and political debates and current analyses of economic modernity, the fascinating role played by accounting craft in the birth of this concept certainly merits attention.

Keywords: Accounting Thoughts, Capitalism, Double entry Book keeping, Economic Development, Karl Marx, Werner Sombart

The Impact of International Fund for Agricultural Development (IFAD) On Economic Development in Nigeria: 1985-2015 (Published)

IFAD intervention programmes are tailored towards the seeming problems of poverty through increased domestic savings and investments. There is no gainsaying the fact that the literature is complete on various policy mix that could usher in the much desired economic development especially in developing economies. Since the mid 80’s, IFAD has been involved directly in development programmes of LDCs, but to what extent have these programmes impacted on some of the major or key indicators of economic development such as literacy level, income generation, life expectancy, infant mortality amongst others, hence the need to examine the impact of IFAD programmes on these variables. The objectives of the study included to identify the key IFAD intervention programmes on incremental income, literacy rate, life expectancy and infant mortality. Secondary data were sourced and analyzed using the Ordinary Least Squares (OLS). The major findings of the study showed that the long-run determinants of economic development; measured by per capita income, are largely from IFAD funded project inputs in Nigeria (IFPN) and life expectancy in Nigeria (LERN). Literacy rate proxied by total enrolment in primary education regardless of age and expressed as a percentage of the population of official primary education age have negative coefficient and results in -0.382% change in economic development in the long run. Similarly, the coefficient of infant mortality rate in Nigeria measured by 1000 live births is indirectly related to economic development. It is against this background, that the study recommended increase funding of agricultural activities and rural savings mobilization, and by extension promotes development through increasing the volume and productivity of human capital as result improvement in life expectancy.

Keywords: Agricultural Development, Economic Development, International fund

Oil and Gas Sector Law Reform and Its Implications for Economic Development in Nigeria (Published)

This study focused primarily on oil and gas sector law reform and its implications for economic development in Nigeria. The objective is to review the reform in the oil and gas sector law since the adoption of democracy in 1999 and what implications it portends for economic development. The study adopted the political economy method to x-ray the issues that are germane to the study. Findings revealed that a consensus has not been reached on the proposed Petroleum Industry Bill as there are points and counterpoints for the passage of the Bill into law. Also, the enactment of the Nigerian Content Act is impacting positively on economic development. It is therefore recommended that political will be geared towards seeing the bill through and that the Nigerian Content Development and Monitoring Board be strengthened to carry out her oversight functions.

Keywords: Economic Development, Political Economy and Nigeria., Reform, oil and gas sector

Public Sector Expenditure and the Economic Development in Nigeria (1999-2015) (Published)

The study examined the interaction of public sector expenditure and economic development from 1999 – 2015.  The specific objective was to assess the extent to which GDP affects EDU, HLT, DFS, AGR and PDS.  Secondary data employed were from the CBN bulletin published in 2016. Multiple regression analysis and t-test were the statistical tools applied, with the use of SPSS for both data analysis and to test the hypotheses formulated for the study at 5% level of significance.  The result revealed that GDP does not significantly affect EDU, HLT and AGR and as a result they do not have impact on economic growth.  On the contrary, GDP significantly affects the DFS and PDS which do not have effect on economic development.  The result shows that government spending on defense, security and public debt servicing has not brought about economic development.  Therefore, there is need for change of orientation.  The government should concentrate on investing in provision of proper education and adequate health facilities for the citizenry.  More attention should also be given to agriculture for the purpose of sufficient food supply.  All these measures could provide solution to insurgency and militancy which the government has spent so much to no avail.

Keywords: Agriculture, Economic Development, Education, Health, Public sector expenditure, defense and security, public debt servicing

Empirical Review of Government Expenditure on Education and Economic Development in Nigeria (2000 – 2015) (Published)

The study empirically reviewed government expenditure on education and economic development in Nigeria from 2000–2015.  The specific objective is to examine the extent to which the Nigerian GDP affects the government expenditure on education, social and community services and the number of school enrolment within the period being reviewed.  Secondary data employed were from the EFA 2015 report and CBN bulletin published in 2016.  Multiple regression analysis and student t-test were the statistical tools applied, with the use of SPSS for both data analysis and to test the hypotheses formulated for the study at 5% level of significance. The result indicated that expenditure on education is significant and impacts on the economy.  While the result on SCS and ENRL showed a significant relationship with the GDP but little or no impact.  The conclusion is that, the anti-graft fight by the present government to encourage proper use of resource allocation has to be encouraged by all good citizens and lovers of education.  If the resources allocated are efficiently utilized to equip Government owned schools, education will be affordable by all and number of school drop-outs will reduce significantly.  

Keywords: Economic Development, Education, GDP, enrolment, social and community services.

An Appraisal of Nigeria’s Micro, Small and Medium Enterprises (MSMES) (Published)

This paper took a critical appraisal of the Micro, Small and Medium Enterprises (MSMEs) in Nigeria. The major focus of this work was to expatiate on the growth, challenges and prospects of the MSMEs in the country. While attempting to give an appropriate definition for Micro, Small and Medium Enterprises using employment strength and asset base criteria, the work revealed that SMEs contribute significantly to economic development in the provision of goods and services, creation of employment and contribute to a high standard of living. There are some setbacks facing the over 17,284,671 Micro, Small and Medium Enterprises in Nigeria. These setbacks include; limited financing, lack of action plan to deal with eventualities, lack of managerial and marketing skill, and lack of research appreciation and technical expertise. The study concluded that entrepreneurship is regarded as the catalyst in most developing economies and that it is very crucial to the economic growth and development of Nigeria. As such, it was recommended that government policies should support the establishment, nurturing and growth of SMEs by curtailing or banning importation of certain products, training of young entrepreneurs, establishment of Centers for Entrepreneurial Development and promoting entrepreneurial spirit through the provision of conducive entrepreneurial environment, funding and empowerment programmes. This will facilitate the training and retraining of entrepreneurs and also help Nigerian youths to develop interest in entrepreneurship.

Keywords: Economic Development, Micro, Nigeria, Small and Medium Enterprises, Technical Expertise

Role of Cottage Industry in the Economic Development of Bangladesh: An Empirical Study (Published)

Economic development generally refers to the quantitative and qualitative changes in the economy to promote the standard of living and economic health of a specific area. This article focuses on the role of cottage industry in economic development. We have identified various factors of economic development on which the cottage industry is contributing a lot. To explain it we have collected primary data through structured questionnaire. This paper also discusses the problems associated with cottage industry. Five sectors of cottage industry have been included into this study. This paper focuses on the contribution of each sector to the economic development of Bangladesh. Finally, some recommendations are put forth for the development of cottage industry so that this industry can thrive and contribute more to the economic development of Bangladesh.

Keywords: Bangladesh, Cottage Industry, Economic Development

Food Insecurity: Causes and Policy Framework in Strengthening Food Security in Kenya’s Agricultural Sector. (Published)

According to  United Nations Food Agriculture Organization and the United States of America  department of agriculture in the World Food Summit in 1996, Food security exists when all people at all times, have physical and economic access to sufficient, safe and nutritious food to meet their dietary needs and food preferences for an active and healthy life. Food security is basic to the survival of any nation, be it at individual, family or national level. This therefore means that food security should have top priority since no meaningful development in economic, social or cultural sphere is possible without it. However in Kenya, with a population of more than 40 million people, about 10% is classified as food insecure according to United States of America Department of Agriculture – Food Security Analysis March 2009. This is growing at an annual rate of about 30%. Kenya is the largest import market for food and agriculture products in East Africa. Kenya imported about 725 million in agriculture products during 2009, up from 525 million in 2007 in an attempt to mitigate the crisis. This implies that the Government of Kenya should come up with policies that ensure people have access to enough food. This paper examines the role of policy framework in strengthening food security in Kenya.

Keywords: Agricultural Sector, Economic Development, Food Security, Kenya, Policy Framework

Re -Engineering Vat Administration in Nigeria for Economic Development (Published)

The study examined the possibility of “Re-engineering VAT Administration in Nigeria for Economic Development (1994-2014)”. The study used  across sectional survey design involving the survey of existing data (secondary sources). The research instruments used in collection of data for this study were mainly secondary data from the FIRS Website, CBN & NBS Annual Statistical Bulletins. This study used the econometric technique of Ordinary Least Square (OLS) in form of Multiple Linear Regressions. The regression model was estimated through the use of Statistical Package for Social Sciences (SPSS). The study found that VAT is of immense benefit to government. Through taxation, government ensures that resources are channeled towards important projects in the society. However, VAT is being mismanaged in Nigeria as the study has conclusively revealed that: There is no significant relationship between value added tax and revenue growth in Nigeria, there is significant relationship between value added tax and the consumption pattern in Nigeria and there is no significant relationship between value –added tax and the economic development in Nigeria from 1994-2014. Therefore, the study recommends that: Efforts should be made by the government to fight corruption and if possible, introduce capital punishment depending on the degree of mismanagement of public funds or  embezzlement of public funds to deter those who steal VAT funds. Also value added tax (VAT) Act should be amended further to impose VAT based on destination principle. This will enable VAT to be imposed on imported services rendered by a non-resident company outside Nigeria.

Keywords: Administration, Economic Development, Government Revenue, Re-Engineering, Value Added Tax, consumption patterns