The growth of domestic powdered milked consumption in Indonesia exceeds the growth of domestic powdered milk raw materials production, it is causes fulfillment of needs is provided through imports. The purpose of this study are 1) Analyze the factors that influence the competitiveness of the domestic powdered milk industry; 2) Analyze the factors that are determinants of the import of raw powdered milk, and 3) Formulate strategic recommendations that can improve the competitiveness of the domestic powdered milk industry. Based on the results, the factors that most play a role in the competitiveness of domestic powdered milk are government policies in trade, the Milk Processing Industry (IPS), and the company’s strategy. Based on Engle-Granger Cointegration method, in the long run the volume of Indonesian powdered milk imports is significantly affected by the real price of imported powdered milk, the real exchange rate, real per capita income, and import tariffs. Meanwhile, based on short-term dynamic ECM equations, the volume of imported powdered milk is significantly affected by domestic powdered milk production, the real price of domestic powdered milk, real per capita income, and import tariffs.
Does The Export-Led Growth Hypothesis Hold For Nigeria? Empirics from Toda-Yamamoto Granger-Causality Framework (Published)
This study empirically analyzed the relationship between export and economic growth. Specifically, the study examined the validity of the Export-Led Growth Hypothesis in Nigeria employing the Toda-Yamamoto Granger Causality framework. The result shows that there is unidirectional causality running from export to economic growth. This implies that the causality running from export to economic growth is the strongest, revealing that export-led growth hypothesis holds for Nigeria. This suggests that encouraging export is necessary in stimulating growth. It is therefore imperative for government to put policies in place to stimulate the production in the non-oil sectors of the economy. This would assist in encouraging exports and discourage imports.
The Impact of Foreign Direct Investment and Import, Export on the Economic Growth of Pakistan: An Empirical Study (Published)
Purpose: The aim of this paper is to analyze the impact of foreign direct investment (FDI), export (EXPO) and import (IMP) in the economic growth of Pakistan from 1990 to 2015. Design/methodology/approach: The link of foreign direct investment (FDI), export (EXPO) and import(IMP) with economic growth is measured through multiple regression model. Foreign direct investment (FDI), export (EXPO) and import (IMP) treated as regrassors and gross domestic product (GDP) treated as regressand in this model.Eviews software used to analyze the annual time series data from 1990 to 2015. Findings: According to the findings, there is a negative and insignificant association between foreign direct investment (FDI) and GDP while there is significant and positive relationship found of export (EXPO) and import (IMP) with GDP. Originality/value: The empirical findings of this research play a vital role for policy maker of Pakistan in formulation of FDI and trade policies.
The Socio-Cultural Import of Igala Names (Published)
This piece on the Socio-cultural Import of Igala Names is an effort at investigating into the traditional appellations by which members of the major ethnic group of Kogi state, the Igala of central Nigeria are known. While employing the sociological and historical methods of research, our findings show that there is more to their names than mere identifying marks, labels or tags. Igala names are given basically in accordance with spiritual and historico-social circumstances of birth, emotions of parents, etc. Besides, the names are often seen as particularly embodying the destiny of the individual. It is also submitted here that naming ceremonies form an integral part of formal means of initiating a child into the membership of a community. This invariably spells the personhood of such a child. As such, the use of Igala, nay African names are showcased here as inalienable aspect of the culture of the people that could be promoted, owing to its significance.
Economic Transformation: Reliance to Small Businesses and Export Orientation (Published)
Uzbekistan as a low-middle-income country with a population of 30 million, has seen stable economic progress (with the growth of average 8 percent per year) since 2004 and extreme poverty has declined from 27 percent in 2000 to 15 percent in 2012. The government has set an ambitious goal for the country—to join the group of upper-middle-income countries by 2030. This study discusses the main challenges of the structural transformations that the economy will face to achieve this objective.
In light of the challenges set by the economic openness and foreign trade to the Jordanian economy, especially through the increasing competition for Jordanian products of goods and services with regional and global countries, it is necessary to activating the role of the Jordanian trade policy in order to make greater contribution to enhancing the competitiveness of the national economy. The objective of this research paper is to address the impact of import and export of Jordon on Gross Domestic Product growth (GDP) during the period 2000-2014 as the GDP at market price determines the import, export and openness of Jordan. Linear Regression analysis has been applied with GDP at market price and Import, export, trade and trade openness. The analysis shows that there is a statistically significant impact of export and import of goods and services, and on GDP growth of the economy. On the other hand the analysis shows no significant effect of trade openness on GDP growth rate due to trade deficit.
No country can exist in isolation as an island, trade wise. This is because, it cannot own all it needs or requires. It must therefore engage in some form of trade with other countries to buy what it needs and also, sell what it has. This way, it can maintain an economic balance. International Trade allows us to expand our markets for both goods and services that otherwise may not have been available to us. It is for this reason that a person in Nigeria can pick between a Japanese, German or American product such as, electronics or cars. Because of international trade, there is greater competition to provide cheaper products to the consumer so as to attract more trade relationships. International trading partners or organizations conduct business today without having to meet or speak with each other. Transactional, uncertainties about the method of trade or risk of loss could be increased if there is inadequate knowledge of the payment options that are available. As a result of such uncertainties, the likelihood of trade could therefore be reduced reduced. Because of awareness of the increasing globalization of trade, private sector development programs have looked for ways to implement trade promotion initiatives, through import and export programs, production of high-value crops for export, creation of business development centers and other trade related programs which require the participants to have a good understanding of some of the most critical aspects of trade such as the nature of trade and getting paid. As new technologies and advancements in communications are improving trade logistics and increasing speed and facilitation of transactions, businesses are finding new opportunities and new ways to operate. Today, payments can be made through opening of financial letters of credit, by email, commitments for foreign exchange can be made over the telephone and the purchase of large quantity of produce and their shipping costs can be charged to credit cards. Despite these new advancements most payment transactions still follow basic rules to reduce risk of loss to the barest minimum. Exporters must therefore offer their customers attractive sale terms supported by competitive payment methods to succeed in the new global market and to win sales against foreign competitors. As getting paid in full and on time is the primary goal for each export sale, an appropriate payment method must be chosen carefully to minimize the payment risk while also accommodating the needs of the buyer to get his goods at the cheapest possible rates.