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An Assessment of the Implementation of the National Policy on Local Economic Development by District Assemblies in Ghana
Issue:
Volume 4, Issue 1, March 2019
Pages:
1-10
Received:
14 December 2018
Accepted:
20 January 2019
Published:
31 January 2019
Abstract: Policies are important inputs to the economic development process of any territory. But policies, of themselves, cannot bring about the desired goals unless they are duly implemented. In Ghana, experience has shown that many good policies formulated in the past did not get implemented. Also, the pace of implementation of many other policies has been terribly slow resulting in huge time lag between policy formulation and implementation. This study thus investigated the extent of implementation of the National LED Policy formulated in 2013 and made operational from January 2014. The study is a case study survey of two District Assemblies: Asuogyaman and Ada West District Assemblies. These Assemblies were purposively selected based on the endowment of some natural resources. The broad objective was to find out whether District Assemblies are delivering on their roles and responsibilities as provided by the National LED Policy. The study found that the District Assemblies studied have not put in much effort specifically aimed at implementing the National LED Policy in their jurisdictions.
Abstract: Policies are important inputs to the economic development process of any territory. But policies, of themselves, cannot bring about the desired goals unless they are duly implemented. In Ghana, experience has shown that many good policies formulated in the past did not get implemented. Also, the pace of implementation of many other policies has bee...
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Globalisation Has Double Sides on Developing Countries: The Benefits and the Harm
Issue:
Volume 4, Issue 1, March 2019
Pages:
11-14
Received:
22 December 2018
Accepted:
15 January 2019
Published:
31 January 2019
Abstract: Aim: To review and discuss the positive and negative effects of globalisation on different countries especially on developing countries. Methods: Professional articles including original researches, theoretical studies, reviews or reports which were published on journals or websites or released publicly by governments or international orgnisations were reviewed critically and discussed. Results: Globalisation is growing around the world and benefit to all the people. But the negative influences of globalisation on developing countries are also considered at present. Globalisation transfers human capital from developing countries to developed countries, and contributes to environmental degradation in developing countries. Conclusions: Despite the benefits of globalisation offers developing countries, severe brain drains and environmental devastation caused by globalisation have become major concerns and cannot be ignored for these countries.
Abstract: Aim: To review and discuss the positive and negative effects of globalisation on different countries especially on developing countries. Methods: Professional articles including original researches, theoretical studies, reviews or reports which were published on journals or websites or released publicly by governments or international orgnisations ...
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The Impact of Monetary Policy on Algerian Economic Activity
Issue:
Volume 4, Issue 1, March 2019
Pages:
15-22
Received:
18 February 2019
Accepted:
20 March 2019
Published:
6 May 2019
Abstract: This study investigated the role of monetary policy in financing economic activity in Algeria during the period 1990-2017 using quarterly data. The application of the VAR model has shown the negligible effect of credit and interest rate on gross domestic product. On the other hand, it appears a more significant positive effect of the real money supply. The modest contribution of the financial system to economic growth could be attributed to the excess of liquidity and the weak development of the financial system, the Algerian capital markets are nascent, the lengthy administrative procedures and the lack of competition in the banking sector.
Abstract: This study investigated the role of monetary policy in financing economic activity in Algeria during the period 1990-2017 using quarterly data. The application of the VAR model has shown the negligible effect of credit and interest rate on gross domestic product. On the other hand, it appears a more significant positive effect of the real money sup...
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Long Run Determinants of Private Consumption Spending: Evidence from Nigeria
Joseph Chukwudi Odionye,
Okanta Sunday Ukeje
Issue:
Volume 4, Issue 1, March 2019
Pages:
23-30
Received:
8 January 2019
Accepted:
22 February 2019
Published:
20 May 2019
Abstract: Of great concern to policy makers and researchers are the factors that influence private consumption spending owing to the important role it plays in aggregate demand of a country. Thus, this study investigated the long run determinants of aggregate private consumption spending in Nigeriaover thequarterlyperiodsof 1981 to 2016. The Auto Regressive Distributed Lag Error-correction model (ARDL-ECM) was employed to take care of short-run dynamics. In line with theories, variables included in the model were disposable income, credit facility, financial assets, government expenditure, interest rate and inflation rate. The empirical results showed that in the short run, disposable income, financial assets, interest rate and government expenditure influence private consumption spending while disposable income, financial assets, credit facilities and government expenditures are the major long run determinants of private consumption spending in Nigeria. The result equally showed that disposable income has more impact on consumption spending in the long run than it has in the short run. The policy implication is that policy interventions directed towards these variables are essential to increase spending as a major component of aggregate demand.
Abstract: Of great concern to policy makers and researchers are the factors that influence private consumption spending owing to the important role it plays in aggregate demand of a country. Thus, this study investigated the long run determinants of aggregate private consumption spending in Nigeriaover thequarterlyperiodsof 1981 to 2016. The Auto Regressive ...
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Firm Characteristics and Export Intensity in Kenyan Manufacturing Firms: An Empirical Analysis
Issue:
Volume 4, Issue 1, March 2019
Pages:
31-37
Received:
21 February 2019
Accepted:
8 April 2019
Published:
20 May 2019
Abstract: This paper examines the determinants of export intensity in Kenyan manufacturing firms. We use data from the World Bank enterprise survey 2013 and from it examine how firm characteristics explain export intensity. We use the Ordinary Least Squares estimation technique and Heckman sample selection model to estimate this relationship. The Heckman model is estimated in order to control for possible Sample Selection bias as export intensity is only observable in firms that make the decision to export. The findings show that innovation and certification are major determinants to export intensity as a unit change in these variables would result to a change in export intensity by 0.4747 units and 0.3259 respectively. Foreign firms are also found to export more as compared to domestic firms; the results show that the foreign owned firms export 0.5803 more units than domestic firms. This paper recommends that Kenyan firms should adopt internationally recognized certification standards in order for them to be more competitive in the international market and should embrace innovation by introducing new products and making improvements to their existing products; this can be achieved by investing more in research and development. These measures will increase firm export intensity leading to an overall increase in the country’s volume of exports leading to an improved balance of trade, a significant factor to overall economic growth. This paper therefore provides valuable information on how Kenyan manufacturing firms can increase the proportion of revenue received from engaging in international trade.
Abstract: This paper examines the determinants of export intensity in Kenyan manufacturing firms. We use data from the World Bank enterprise survey 2013 and from it examine how firm characteristics explain export intensity. We use the Ordinary Least Squares estimation technique and Heckman sample selection model to estimate this relationship. The Heckman mod...
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