Understanding the Nexus between Foreign Institutional Loans and Income Inequality in Nigeria (Published)
This study examines the role of foreign institutional loans in reducing income inequality in Nigeria. Time series data spanning from 1980 to 2017 on each of the variables were sourced from the National Bureau of Statistics and World Development Indicators (WDI). The augmented Dickey Fuller (ADF) unit root test, Johansen multivariate cointegration approach, vector error correction model (VECM) and Granger causality tests were employed as techniques for data analysis. The ADF unit root test results reveal that the variables are all stationary upon first difference and as such they all I(1). The cointegration test results indicate that the variables have long run relationship. The estimated VECM shows that loans from the World Bank and African Development Bank impacted negatively on income inequality. This finding suggests that borrowings from the World Bank and African Development Bank are helpful in collapsing the disparity in the distribution of income within the Nigerian population. The Granger causality test results reveal that joint causality runs from the all the underlying foreign institutional loans to poverty and income inequality. Given the findings, it is recommended that the Federal Ministry of Finance in collaboration with the Debt Management Office (DMO) should ensure that loans sourced from foreign institutions are channeled into productive investments in order to foster rapid and sustained reduction in income inequality.
A case study on optimal distribution of force level in key levers of World Bank’s Saber framework for an educational institute of a developing country (Published)
The World Bank Group has understood the importance of education in Global scenario and its effect on economic growth. As per the group the Global education inequity can be eradicated by a two prong approach; education policies and regulations at national level and high quality knowledge base at Global level. In order to achieve the goal, World Bank Group has initiated a strategy called Systems Approach for Better Education Results (SABER) . NGOs in education field are doing a yeoman’s job in providing quality education to the low income groups thereby bringing in educational equity in the world (both developing and developed countries). One of such largest initiative is “Teach for all”. The paper is a case study on low penetration of volunteers into certain key levers/ segments of an educational NGO of a developing country. The strategy and methodology is applicable to any “Teach for all” NGOs across the world. This gives a methodology to optimize force level in key levers of any educational institute which would like to follow the World Bank’s SABER framework to ensure bring in successful educational strategy. The paper has not only discussed the optimal distribution of force level using linear regression predictive method but also pointed out the potential risks and opportunities.