Tag Archives: Economic 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

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

Constraints to Agricultural Development in Nigeria (Published)

The role of agriculture in accelerating economic growth and development process of any nation cannot be overemphasized. However, in Nigeria, the sector has suffered severe neglect, due in part, from the windfall from the discovery of oil in the 1970s and other structural rigidities. The study investigated the constraints to agricultural development in Nigeria using time series data spanning the period 1970 – 2010 and contemporary econometric methods of unit root test, co-integration and error-correction mechanism. Empirical findings reveal that rainfall, exchange rate and food export (lag one) are the most significant positive determinants of agricultural output in Nigeria. However, food imports, diversion of funds meant for agricultural purposes and low technology diffusion in agriculture are among the factors identified as constraints to agricultural development in Nigeria. The study recommends among others, maintenance of stable and favourable exchange rate regime, and the pursuance of programmes that will bolster partnerships between research institutions and other stake holders in agriculture as a route to facilitating agricultural development and hence, economic development in Nigeria.

Keywords: Agricultural Constraints, Agricultural Development, Economic Development, Food Export

Russian Interest in Central Asia in Natural/Energy Resources (Published)

Natural/energy resources are considered as the key factors of the nation’s economic development. In the modern world, energy has been considered as the lifeline since it is required in almost every human activity. In order to support national development, any country wants to exploit as much natural/energy resources as possible (Skipka and Theodore, 2014). The powerful countries are not only using their own resources but also paying interests to resources of other countries. This assessment tires to critically explore Russian interest in Central Asia in natural/energy resources.  

Keywords: Asia, Economic Development, Energy, Russian, resources

Exports-Led Industrialisation and Development through National Re-Branding and Best Practices: A Comparative Study of Botswana and Zimbabwean Economies (Published)

The purpose of this study was to look at the challenges facing Zimbabwe’s economy compared to Botswana and determine re-branding strategies Zimbabwe can adopt to portray a positive image. Case studies of countries whose economies miraculously recovered were given, they include countries like Korea, China, Japan, Taiwan and Malaysia. Document reviews and in-depth literature review were used to collect data. The findings of the study revealed challenges related to policy issues, corruption, relations with western countries over the land reform programme, corporate governance issues, and macroeconomic fundamentals such as government spending priorities, the country’s credit rating, judicial independence, and property rights. These were some of the factors that contributed to the meltdown of the Zimbabwean economy. The study recommended that Zimbabwe needs to re-establish relations with the west, ensure independence of the judiciary system, ensure property rights to attract foreign investment, improve corporate governance issues, and monitor its macroeconomic fundamentals.

Keywords: Economic Development, Export Led Strategies, Re-Branding, economic growth

The Implementation Of Oil Palm Based Regional Innovation System (Sida) In Supporting The Masterplan For The Acceleration And Expansion Of Indonesia’s Economic Development (Mp3ei) Of The Economic Corridor Of Sumatera-Indonesia (Published)

The purpose of the research is to determine the Implementation of Oil Palm Based Regional Innovation System (SIDA) in Supporting the Masterplan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3I) of the Economic Corridor of Sumatera. It is a qualitative-descriptive research. The population in this research was the residents of Desa Mangkei Lama and Desa Mangkei Baru for 150 families. The sampling was conducted by using the purposive random sampling technique with certain criteria. The minimum sample size in this study was 30 respondents. With the Special Economic Zone (KEK) of Sei Mangkei which cultivates the oil palm it produces the CPO but not fully distributed yet. Many distributed oil palm products still need to be developed into a large-scale laboratory scale industry. The growing oil palm nursery on the developed village which is a supplier of seeds for the oil palm plantations. The developing Cooperative of oil palm midribs based Cattle feeds that supplies the feed for the cattles, Excelent Calves and Bio Gas. The plantation community empowerment through the Biomass stove using the Shells and Briquets. The Oil Palm plantations produce CPO but not fully distributed yet. Many distributed oil palm products still need to be developed into a laboratory-scale industrial scale.

Keywords: Economic Development, Oil Palm, Regional Innovation, Special Economic Zone

THE SYSTEMATIC LITERATURE REVIEW AND RESEARCHES ON DEVELOPMENT OF MICROFINANCE INDUSTRY IN INDIA (Published)

Microfinance is the array of financial services, including loans, savings and insurance, available to Poor entrepreneurs and small business owners who have no collateral and would not otherwise qualify for a standard bank loan. Recent proliferation of microfinance market has swiftly increased the competition in microfinance Indian market, new technology and new devices are emerging at phenomal speed. As the number of microfinance application is increasing at daily rate, quality is becoming major issue. So microfinance system organization need some quality model as guideline to improve and maintain quality of application under development .microfinance application mainly depends on users response and user acceptance so they need maintainability, usability, suitability etc. this research paper presents microfinance recent development model focusing on key quality characteristics. This study is applicable in the context of social development at this time when social services delivery is not only poor but at dismal level. Recent proliferation of microfinance market has swiftly increased the competition in microfinance developmental Market, new technology and new devices are emerging at phenomenal speed. As the number of microfinance applications is increasing at daily rate, quality is becoming major issue. So Microfinance industries need some quality model as guideline to improve and maintain quality of application under development. MicroFinance market mainly depends on poor people of loan response and poor people of loan acceptance so they need maintainability, usability, suitability etc. This research paper presents microfinance market quality model focusing on key quality characteristics mainly extracted from excellent standard quality model, which effect quality of microfinance market. This paper aims to provide a synthetic review of the literature on the Microfinance and development. Systematic Review of literature (SLRs) justifies the reason for our research. It demonstrates the topic. It narrates a brief elaboration of prior studies. Prior research will help us to ensure that we have included all of our major relevant constructs in our study. It talks about the knowledge of our field which allows us to identify the gap which our research could fill and also strength’s the topic that we chosen for our research. The literature review will help us to find and select appropriate measurement instruments. (P.Shakila, 2014) The literature review is needed because it is a necessary skill both for researchers and for practitioners of a profession which claims to be founded on a knowledge base and also to locate and summarize the findings of research on a given topic not uncritically but assessing the evidence and for argument to sustain the conclusions. It is also useful to obviate the need for fresh research or to replicate the study. (P.Shakila, 2014) Polit and Hungler in the year (2001) stated that the term “Literature Review” is often used to cover both the process of searching for relevant literature and the critical reporting of the literature. Cormack in the year (1991) stated that “Literature Review” means to systematically read, critically appraise, and then synthesize the material into a coherent, structured, and logical review of the literature. This paper presents a systematic review of the current use of those modern microfinance developments for the microfinance systems and their actual level. Microfinance modern recent development prediction is a significant part of microfinance quality assurance. A problem is microfinance is to expect the possibility that the microfinance contains problem. Problem in microfinance system are major problems that need to be resolved. The problem prediction in microfinance system is significant because it can help in directing test effort, reducing cost, and increasing quality of microfinance development and its reliability .in this research paper I have studied various predictions, examined, & the performance of these recent microfinance development of India. The main aim is to examine the performance of recent development of microfinance in microfinance a problem prediction. Problem prediction using these techniques helps in improving the quality of the microfinance recent development

Keywords: Development, Development Quality, Economic Development, Economic Development Attitude, Entrepreneurship Development, Evaluation and effectiveness of Microfinance, India Economy, Microfinance Institutions, Microfinance and Development, Satisfaction of Access & Rights to Justice of Poor People, Systematic Literature Review, Systematic Review