Tag Archives: Growth

Implications Of Financial Intermediation Cost On Economic Growth In Nigeria (Published)

There is a growing concern as to whether the cost of financial intermediation is having commensurate beneficial implication on economic growth in Nigeria. The main objective of this study is to determine the implications of cost of financial intermediation on economic growth in Nigeria. The study made use of ordinary least square regression analysis. Results for ADF unit root tests show that all variables under consideration are I(1). The co-integration test also indicates long run relationship between cost of financial intermediation and economic growth in Nigeria. The study shows that total loan (TL) has significantly impacted on economic growth in Nigeria, that interest rate has significantly impacted positive on the growth of Nigerian economy and that the level of total deposit over the years has impacted negatively on economic growth in Nigeria. The policy implication is that improper management of financial intermediation cost may have caused several macroeconomic consequences in Nigerian economy and the framework for demonstrating its consequence in the real sector of economy. Hence, the issue of how total loan, interest rate and total deposit linked to the level of economic growth is of a great concern in Nigerian economic performance. We therefore recommend that Nigerian government should ensure that proper control and regulation should be guided the activities of the financial intermediations cost in order to achieve a sound financial system

Keywords: Cost, Economic, Financial, Growth, Intermediation, Nigeria

The Effect of Information Technology on Growth of Micro-Insurance Business: A Survey of Commercial Insurance Companies in Kenya (Published)

The micro-insurance business has a huge potential for growth in Kenya, which is typically a micro-insurance market. However, the country’s paltry growth in overall insurance penetration from 2.54% in 2006 to 3.0% in 2010 is not attributable to emerging business areas such as micro-insurance, but to the traditional insurance product lines. Information technology can be leveraged to increase micro-insurance penetration. This study examined the influence of information technology on the growth of micro-insurance business in Kenya. A survey of commercial insurance companies was conducted to provide an understanding of the effect of information technology as a driver of micro-insurance growth. The findings revealed a high positive significant correlation between information technology and growth of micro-insurance. The implication is that sustainable growth of micro-insurance business among the low-income Kenyan population can be greatly enhanced by leveraging the benefits of information technology. Therefore micro-insurance service providers should embrace information technology systems as a strategic action in order to tap into the ripe micro-insurance client base.

Keywords: Growth, Information Technology, Micro-insurance

Human Capital Development: A Way Forward for Entrepreneurial Growth in Ebonyi State (Published)

Human capital development is a process of increasing knowledge, skills, talents and competencies in vocational and technical education for increase in productivity and stimulating resourcefulness of trainees. Home economics and Social Studies must necessarily contribute to developing of human capital in the 21st century to enable families and individuals cope with the ever emerging problems and challenges. The study focused on human capital development: a panacea for entrepreneurial growth in Ebonyi State. Specifically, the study sought to ascertain the managerial skills required for entrepreneurial growth in Ebonyi State, entrepreneurial qualities required for entrepreneurial growth, ascertain how entrepreneurial growth can enhance socio-economic development of Ebonyi State. Three research questions and one hypothesis were formulated to guide the study. The area of the study is Ebonyi State. Population of the study was 220 registered entrepreneurs in Ebonyi State. There was no sampling because the population was manageable. Descriptive survey design was used for the study. Structured questionnaire was used to collect data. Data were analyzed using mean and frequency. Chi-square was used to test the hypothesis. Findings of the study showed that managers need communication, conceptual, technical skills for entrepreneurial growth. Also, discipline, creativity, and ability to motivate employees, were the entrepreneurial qualities required for entrepreneurial growth. Movement of capital goods; increase in education; creating of new jobs can enhance socio-economic development of Ebonyi State. Based on the findings, the following recommendations were made; there should be increased collaboration and cooperation between public and private sectors, among others.

Keywords: : Human Capital, Development, Growth, Skills, entrepreneurial

Growth and Fruit Yield of Tomato As Influenced by Combined Use of Organic and Inorganic Fertilizer in Kabba, Nigeria (Published)

Field experiments were conducted to investigate the effects of integrated use of chemical and organic fertilizers on growth and fruit yield of tomato in Kabba College of Agriculture. The experiment involved five treatments which are as follows: 125kh/ha NPK+3t/ha poultry manure, 125kg/ha NPK+3t/ha cow dung, 125kg/ha NPK+3t/ha kitchen waste, 125kg/ha NPK 15:15:15 and Control. The treatments were laid out in a Randomized Complete Block Design (RCBD) and replicated four times. The parameters taken on soil chemical properties are soil pH, total nitrogen, available phosphorus and soil organic matter. Growth and yield parameters taken are as follows: plant height (cm), number of leaves, and stem girth (cm), number of fruit per plant, fruit length (cm), fruit diameter (cm) and yield per land area (kg/ha). Result obtained from parameters studied (Plant height, leaf numbers, branch number, stem girth, fruit number per plant and fruits weight) revealed that tomato performed better (P<0.05) with the application of 125kg/ha NPK+3t/ha poultry manure application. The also, study showed that use of inorganic and organic fertilizer had better effects on growth and yield of tomato. Therefore, for good yield and better productivity of tomato, a combination of 125kg/ha NPK fertilizer + 3t/ha poultry waste is recommended for tomato production in the study area.

Keywords: Fertilizer, Growth, Inorganic, Organic, Tomato, Yield

GROWTH AND INEQUALITY: IS THERE ANY CLEAR-CUT RELATIONSHIP (Published)

Theory predicts complex and multidimensional relationships between inequality and growth. Indeed, previous studies on inequality and growth using various estimation techniques, inequality measures, country samples and time frames have found conflicting results ranging from positive , negative, non-linear to insignificant and inconclusive relationships. In this study, we follow the model of Forbes (2000) to examine whether or not inequality affects growth. With the newly improved inequality data provided by the University of Texas Inequality Project (UTIP, 2013), we used the System-GMM to estimate the relationship in a panel of 65 countries over the period 1965-2005 on 5-year interval. We found a positive but statistically insignificant co-efficient of inequality on growth

Keywords: Growth, Income Distribution, Inequality, System GMM

AN EXAMINATION OF THE NEXUS BETWEEN MODERN TRANSPORT INFRASTRUCTURE AND SOCIO-ECONOMIC GROWTH IN COLONIAL EASTERN NIGERIA (Published)

At the beginning of colonial administration, the British government envisaged her Nigerian territory to play a dual role: source of agricultural raw-materials and mineral resources for British industries; as well as an assured protected market for British manufactures. Thus, the provision of modern transport infrastructure was therefore required to achieve the above economic motive for the British colonization of Nigeria. Modern transport infrastructure in Eastern Nigeria was vital as it was thought as the surest way ‘to open up the vast hinterlands of the region to civilization’. Consequently, the colonial government laid emphasis on rail, roads, and harbor development, and these boosted its desired strategy for the economic exploitation of the vast resources of the region. Against this backdrop, this paper examines the development of modern transport infrastructure and their effects on the colonial economy of Eastern Nigeria. Utilizing both primary and secondary sources of data, the paper argues hat although the colonial government had ulterior motives in the development of these infrastructure, but they no doubt boosted socio-economic activities, and as well led to the emergence of major urban centers in Eastern Nigeria. It concludes by emphasizing the need for governments at various levels in modern South-east states of Nigeria and the federal government to give priority to the development and sustenance of modern transport infrastructure as this will facilitate the actualization of the much orchestrated Vision Twenty, twenty-twenty [20, 2020] of the present civilian administration in Nigeria.

Keywords: Colonial, Eastern Nigeria, Growth, Infrastructure, Modern transport, Nexus

EVALUATION OF SIX CHINESE MAIZE (ZEA MAYS) VARIETIES IN THE HUMID TROPICAL ENVIRONMENT OF CALABAR, SOUTH-EAST, NIGERIA. (Published)

Six hybrid Chinese maize varieties with a local best were evaluated for their growth and yield performance with a view to adoption in South east agroecological zone of Nigeria. A Randomised Complete Block (RCBD) Design was used. The cultivars did not differ (p ≤0.05) significantly in some growth parameters, this included emergence percentage at 5DAP (days after planting), plant height at both 4WAP and 6WAP (weeks after planting). Tasseling and silking differed significantly, the exotic varieties tassled and silked better than the control at 8WAP and 10WAP respectively. The only significantly different yield parameters were the length and weight of undehusked cobs, circumference of dehusked cobs. The exotic varieties matured earlier than the control between 11 to 14WAP and 16WAP respectively. There was no significant difference in the grain yield between the maize varieties. The Chinese varieties did not show a marked difference in grain yield compared to the local

Keywords: Environment, Evaluation, Growth, Humid Tropics, Maize, Variety Trial, Yield

FUEL PRICE ADJUSTMENTS AND GROWTH OF SMES IN THE NEW JUABEN MUNICIPALITY, GHANA (Published)

Fuel as a major energy consumed has its price been unpredictable. Due to this unpredictability, policy makers always try to adjust its price to meet the prevailing world market prices. This study sought to evaluate fuel price adjustments and growth of SMEs in the New Juaben Municipality of Ghana. The specific objectives were to: find out whether fuel price adjustment affects SMEs negatively or positively, and explain the effect of fuel price adjustment on employment, turnover and output of SMEs in the New Juaben Municipality. This study was a social survey with a sample size of 204 and a purposive sampling was used to illicit information from respondents in which quantitative and qualitative analysis were undertaken. The results of the study showed that, increases in fuel price due fuel price adjustment result in increases in transportation costs, raw material costs, capital costs and other costs but have a negative relationship with consumer real income. In addition, increases in fuel price constrained the growth of SMEs. The study recommended that, government should take steps to subsidize the fuel costs of SMEs to enhance their growth which could lead to increase in employment. SMEs should be provided with managerial training to enhance their understanding of their activities

Keywords: Fuel Price Adjustments, Ghana, Growth, New Juaben Municipality, SMEs

Evaluation of Cultivars and NKP Fertilizer Rates on Growth and Yield of Taro (Colocasia esculenta (L.) Schott on Plains of Nsukka, South Eastern Nigeria (Review Completed - Accepted)

An on –farm experiment was conducted in 2008 and repeated in 2009 cropping season at the Linkage Farm of the University of Nigeria, Nsukka to evaluate the growth and yield responses of five cultivars of taro (Colocasia esculenta) to different levels of NPK 15:15:15: fertilizer on plains of  Nsukka with the objectives of identifying best performing cultivars and optimum NPK 15:15:15 fertilizer rate. The experiment was laid out in a 5×6 factorial in randomized complete block design (RCBD) with three replications in which factor A is taro cultivars consisting of Nkpong, Odogolo, Nworoko, Ugwuta and Nachi while factor B is NPK 15:15:15 fertilizer rates with six levels which is included 0, 100, 150, 200, 250 and 300kg/ha. Fisher’s least significant difference was applied to detect significant difference between two means at 5% probability level. The results showed that the mean rainfall for 2009 planting season was higher than that of 2008. The soil was texturally clayey and moderately acidic with a pH of 5.0 cultivars differed significantly on total yield with Nkpong and Nachi producing 33.25 (t/ha) and 31.08 (t/ha) in 2008 and 2009, respectively.

Application of NPK 15:15:15 fertilizer at 200kg/ha significantly produced a total yield of 42.76 (t/ha) and 25.58 (t/ha) in 2008 and 2009, respectively.

Keywords: Cultivars, Growth, NPK Fertilizer, Taro, Yield

HEMATOLOGICAL GROWTH AND BLOOD METABOLITE RESPONSES IN THE MONOCULTURE OF JUVENILE CLARIAS GARIEPINUS TO INCREASING STOCKING DENSITY (Published)

A ten (10) week feeding trial was undertaken to assess the growth performance, nutrient utilization and blood metabolites of eight week old Juvenile Clarias griepinus of average weight range 250gm — 300gm stocked under 5 different treatments (10 (Trt I), 15 (Trt 2), 20 (Trt 3), 25 (Trt 4) and 30 (Trt 5) Juvenile Clarias gariepinus/25O litre bowl (under laboratory conditions) with increasing stocking densities. The increasing stocking density caused a decrease in value of the final fish body crude protein (Trt 1 (75.18%) > Iii 2 (73.91%) > Trt 3 (72.71%) > Trt 4 (71.21%) > Trt 5 (70.19%). A similar trend was followed in the specific growth rate (SGR) pattern decreasing from 0.20 (Trt 1) to 0.015 (Trt 5), mean weight gain (MWG) from 6.94 (Trt I) to 3.03 (Tn 5), protein efficiency ration (PER) from 0.29 (Trt I) to 0.04 (Trt 5), productive protein value (PPV) from 0.24 (Trt I) to 0.04 (Tit 5) and Net protein utilization (NPU) from 32.25 (Trt 1) to 19.28 (Trt 5). However the food conversion ratio (FCR) kept increasing from treatment (Trt 1)—88.46 to 662.31 in (Trt 5) with increasing stocking density. FCR correlation coefficient is positive (r 1.2964). Other growth and nutrient utilization parameters had negative correlations respectively. The following haematological and blood parameters (MCV, Hb, RBC, MCV, MCHC, MCH, and Total WBC) also showed significant (P <0.05) pattern of variations with stocking density. For parked cell volume (PCV) significant (P <0.05) drop were noticed from Trt 3 (26.98) to Trt 5 (2.00). Haemoglobin count (Hb) dropped from 6.97 in Trt 4 to 6.18 in Trt 5., confirming reduced activity, stressful conditions noticed at higher stocking densities along poor growth noticed in juvenile fishes in Treatment 5. The gradual and steady significant (P < 0.05) increase in WBC count of 29.26 in Itt 1 (10- fish) to 37.23 in Trt. 5 (30 fish) with increasing stocking density is also a reaction of the fish to stress. However, the Red Blood Cell Count followed a narrow range between Trt 1 2.53 — Trt 5 — 2.99, with no significance (P> 0.05) difference. All diets fed the 5 treatments were isonitrogenous at 40% crude protein.

Keywords: : Hematology, Growth, Metabolites, Monoculture, Stocking Density

EMPIRICAL ANALYSIS OF MULTINATIONAL CORPORATIONS AND ECONOMIC GROWTH IN NIGERIA (1990-2013). (Review Completed - Accepted)

The paper attempts to evaluate the relationship between empirical analysis of multinational corporations and economic growth in Nigeria using data spanning (1990-2013). Secondary data was collected from the CBN statistical bulletin and national bureau of statistics. Hypotheses were formulated and tested using time series econometrics and the study reveals that the variables do not have unit roots. There is also long-run equilibrium relationship between economic growth and multinational corporations and the result confirms that about 73% short-run adjustment speed from long-run disequilibrium. The coefficient of determination indicates that about 62% of the variations in economic growth is explained by changes in multinational corporations variables. The study therefore recommends that multinational corporations should make life meaningful to the host country by providing infrastructural facilities. Government should ensure that multinational corporations plough back part of their profits to the development of the host communities in other to established good working relationship. Federal environmental protection agencies should also ensure effective monitoring of multinational corporations to avoid the violation of the lay down rules and regulations guiding their operations.

Keywords: Economic, Empirical Analysis, Growth, Multinational Corporations, Nigeria

MICROFINANCE IN THE ACHIEVEMENT OF MILLENIUM DEVELOPMENT GOALS: A CASE OF KOILOT DIVISION, NANDI COUNTY-KENYA (Review Completed - Accepted)

This paper underscores the view that the provision of micro financial services to low income earners remains a pivotal point in the realization of the millennium development goals; hence, it remains the cornerstone for societal socio-economic and political transformative development in Africa.

Microfinance is very important in; creating access to productive capital for the poor who together with human capital addressed through educational training enables people to move out of poverty. It helps very poor households meet basic needs and protect their economic welfare. Micro-finance empowers women by supporting their economic participation and promotes gender equity. However, there has been remarkable performance and significant improvement in the economic and living status of small scale business people and this can be attributed to the existence of the Financial Services Associations. The paper seeks to discuss challenges encountered by micro-financial providers when it comes to loan repayment and the general view of non members. The paper also proposes various strategies employed by the micro financial institutions before dispatching the applied loans by their clients.

This paper concludes that microfinance play a role in the eradication of poverty, promotion of education, improving health and empowering women of Koilot Division Nandi County-KENYA

 

Keywords: Development, Growth, MDGs, Microfinance

Microfinance In The Achievement Of Millenium Development Goals: A Case Of Koilot Division, Nandi County-Kenya (Published)

This paper underscores the view that the provision of micro financial services to low income earners remains a pivotal point in the realization of the millennium development goals; hence, it remains the cornerstone for societal socio-economic and political transformative development in Africa.

Microfinance is very important in; creating access to productive capital for the poor who together with human capital addressed through educational training enables people to move out of poverty. It helps very poor households meet basic needs and protect their economic welfare. Micro-finance empowers women by supporting their economic participation and promotes gender equity. However, there has been remarkable performance and significant improvement in the economic and living status of small scale business people and this can be attributed to the existence of the Financial Services Associations. The paper seeks to discuss challenges encountered by micro-financial providers when it comes to loan repayment and the general view of non members. The paper also proposes various strategies employed by the micro financial institutions before dispatching the applied loans by their clients.

This paper concludes that microfinance play a role in the eradication of poverty, promotion of education, improving health and empowering women of Koilot Division Nandi County-KENYA

 

Keywords: Development, Growth, MDGs, Microfinance

Hiv/Aids in Pregnancy Process and Endogenous Life Fluctuation in Least Developed Economics (Published)

This article studies transmission risk from mother to child during the pregnancy process where the immune system acts like health defense in an endogenous growth model with epidemiological literature. When the transmission risk becomes positive, the system defense also increases in order to stop the pandemic propagation. Since a given level is crossed, fixed points are ruled out, then cycles and chaos arise, thus makes population growth tends to zero. The social planner’s intervention in order to ensure population growth reaches the steady state defines a unique optimal path where per-capital capital must be monotonic and increasing in development economics. The application of the theory shows the existence of a stable locus where the gap between lives fluctuations and the steady state tends to zero.

Keywords: Chaos, Cycles, Epidemiology, Growth, Infectious diseases, Spectrum Convergence, optimal steady state