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Analysis of Oil Revenue and Economic Corruption in Nigeria
Anfofum Alexander Abraham,
Olure-Bank Adeyinka Michael
Issue:
Volume 2, Issue 1, March 2018
Pages:
1-10
Received:
20 February 2018
Accepted:
9 March 2018
Published:
3 April 2018
Abstract: Corruption is a pressing issue in Nigeria. President Muhammadu Buhari launched an anti-corruption drive after taking office in May, 2015. Corruption affects public finances, business investment as well as standard of living. Recent corruption scandals have highlighted the large sums that have been stolen and/or misappropriated. But little has been done to explore the dynamic effects of corruption as it affect the long run capacity of the country to achieve its potential. Economic corruption is a challenge internationally. To deal with it, we must investigate its causes. To do this, data from Nigeria for the period 1974-2012. It is revealed in the study that oil revenue and economic corruption in Nigeria are related. The study show that a 1% increase in oil revenue increase bribery, embezzlement and forgery in Nigeria by 15-43%. The study policies implications will be to enhance ways of reducing corruption and poverty so that the level of economic growth can be encouraging. That is the activities of the anti-corruption agencies in Nigeria such as the Economic and Financial Crime Commission (EFCC) and the Independent Corrupt Practices and related Offences Commission (ICPC) should be strengthened.
Abstract: Corruption is a pressing issue in Nigeria. President Muhammadu Buhari launched an anti-corruption drive after taking office in May, 2015. Corruption affects public finances, business investment as well as standard of living. Recent corruption scandals have highlighted the large sums that have been stolen and/or misappropriated. But little has been ...
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Oil Consumption and Economic Growth in Nigeria: A Multivariate Cointegration Analysis
Alexander Abraham Anfofum,
Olure-Bank Adeyinka Michael,
Oyefabi Ilemobola Solomon
Issue:
Volume 2, Issue 1, March 2018
Pages:
11-22
Received:
19 February 2018
Accepted:
9 March 2018
Published:
14 April 2018
Abstract: The paper seeks to examine the relationship between oil consumption and economic growth in Nigeria using the Johansen and Juselius Co-integration technique based on the Cobb-Douglas production function to construct three models by introducing three major sectors of oil consumption of Nigeria (Transport, Power and Industrial sector oil consumption) and how Nigerian's upward review oil price variable impact on GDP. ADF (1979) and Johansen Maximum Likelihood method of cointegration (1988) are used to test the order of integration, Long run and short run dynamics between variable respectively using annual data since 1970-2016. The study shows an evidence of the long run and dynamic relationship for all the variables except industrial oil consumption and oil price variables which has no short run impact on GDP. Also it was found that capital and labour are more important in affecting output growth compared to energy consumption Oil prices impacting real GDP negatively in long run but positively in short run. Prominent policy recommendation are, in order to sustain high economic growth in the long-run, the country needs to increase the efficiency of its workforce and expand its saving capacity to generate more capital and need to strengthen the effectiveness of energy generating agencies by ensuring periodic replacement of worn-out equipment in order to drastically curtail transmission power losses.
Abstract: The paper seeks to examine the relationship between oil consumption and economic growth in Nigeria using the Johansen and Juselius Co-integration technique based on the Cobb-Douglas production function to construct three models by introducing three major sectors of oil consumption of Nigeria (Transport, Power and Industrial sector oil consumption) ...
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Difficulties in Leading Change in Non-profit Organizations
Issue:
Volume 2, Issue 1, March 2018
Pages:
23-27
Received:
2 March 2018
Accepted:
8 April 2018
Published:
7 May 2018
Abstract: As the development of society is continued and lays a great impact on society, nonprofit organizations are also under this influence and are prompted to change and grow vigorously. According to Henry Mintzberg, he believes that change is not single-factor directed. It is not a simple linear process. It is a complex process with intricate relations. Accordingly, change in organizations can be depicted as a system of moving cycles [1]. At present nonprofit organizations are facing a series of reforms which is an irresistible trend. However, the nonprofit organizations are surrounded by barriers which impede their development. This article will analyze the factors which hinder the advance of nonprofit organizations. Within organizations, internal reasons mainly include the restriction of ideas, institutional systems and inadequate resources. External reasons mainly include the restriction of system and government.
Abstract: As the development of society is continued and lays a great impact on society, nonprofit organizations are also under this influence and are prompted to change and grow vigorously. According to Henry Mintzberg, he believes that change is not single-factor directed. It is not a simple linear process. It is a complex process with intricate relations....
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Peculiarities of Implementation Export Credit Agency in Ukraine: Investment Aspects
Issue:
Volume 2, Issue 1, March 2018
Pages:
28-38
Received:
5 March 2018
Accepted:
2 April 2018
Published:
9 May 2018
Abstract: This study examines the role of the ECA as an important element in the system of attracting investment resources. The functioning of the ECA is seen as an institutional stimulus for improving investment climate, promoting export, increasing the competitiveness of the national economy and developing export potential in both the private and public sectors. The author examines the opportunities that ECA creates in financing capital investment, which is especially important for state-owned companies in Ukraine. The author emphasizes the importance of ECA in creating conditions for attracting financial resources on favourable terms for state corporations which seek to purchase foreign expensive equipment, that do not have analogues on the domestic market. Major objective of this study is to develop recommendations concerning creation prerequisites for practical implementation of ECA in Ukraine. The author proposed new financial instruments which with support from international donors will contribute to the effective activity of ECA in Ukraine. These include the instrument of the provision of guarantees to the national EСA for the entry into international capital markets - ECA's emission guarantees; guarantees of support of EСA`S projects that will facilitate the cooperation with foreign financial institutions; as well as financial instruments that will perform the compensatory function of equalizing market interest rates for large projects and for long periods of time. The importance of establishing the register of Ukrainian state-owned enterprises which will be included into the ECA`s program in cooperation with IMF, WB, EBRD and other IFOs is emphasized.
Abstract: This study examines the role of the ECA as an important element in the system of attracting investment resources. The functioning of the ECA is seen as an institutional stimulus for improving investment climate, promoting export, increasing the competitiveness of the national economy and developing export potential in both the private and public se...
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