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Article
Publication date: 27 April 2023

Ibrahim Ayoade Adekunle, Olukayode Maku, Tolulope Williams, Judith Gbagidi and Emmanuel O. Ajike

With heterogeneous findings dominating the growth and natural resources relations, there is a need to explain the variances in Africa's growth process as induced by robust…

Abstract

Purpose

With heterogeneous findings dominating the growth and natural resources relations, there is a need to explain the variances in Africa's growth process as induced by robust measures of factor endowments. This study used a comprehensive set of data from the updated database of the World Bank to capture the heterogeneous dimensions of natural resource endowments on growth with a particular focus on establishing complementary evidence on the resource curse hypothesis in energy and environmental economics literature in Africa. These comprehensive data on oil rent, coal rent and forest rent could provide new and insightful evidence on obscure relations on the subject matter.

Design/methodology/approach

This paper considers the panel vector error correction model (PVECM) procedure to explain changes in economic growth outcomes as induced by oil rent, coal rent and forest rent. The consideration of the PVECM was premised on the panel unit root process that returns series that were cointegrated at the first-order differentials.

Findings

The paper found positive relations between oil rent, coal rent and economic development in Africa. Forest rent, on the other hand, is inversely related to economic growth in Africa. Trade and human capital are positively related to economic growth in Africa, while population growth is negatively associated with economic growth in Africa.

Research limitations/implications

Short-run policies should be tailored towards the stability of fiscal expenditure such that the objective of fiscal policy, which is to maintain the condition of full employment and economic stability and stabilise the rate of growth, can be optimised and sustained. By this, the resource curse will be averted and productive capacity will increase, leading to sustainable growth and development in Africa, where conditions for growth and development remain inadequately met.

Originality/value

The originality of this paper can be viewed from the strength of its arguments and methods adopted to address the questions raised in this paper. This study further illuminated age-long obscure relations in the literature of natural resource endowment and economic growth by taking a disaggregated approach to the component-by-component analysis of natural resources factors (the oil rent, coal rent and forest rent) and their corresponding influence on economic growth in Africa. This pattern remains underexplored mainly in previous literature on the subject. Many African countries are blessed with an abundance of these different natural resources in varying proportions. The misuse and mismanagement of these resources along various dimensions have been the core of the inclination towards the resource curse hypothesis in Africa. Knowing how growth conditions respond to changes in the depth of forest resources, oil resources and coal resources could be useful pointers in Africa's overall energy use and management. This study contributed to the literature on natural resource-induced growth dynamics by offering a generalisable conclusion as to why natural resource-abundance economies are prone to poor economic performance. This study further asks if mineral deposits are a source or reflection of ill growth and underdevelopment in African countries.

Details

Management of Environmental Quality: An International Journal, vol. 34 no. 5
Type: Research Article
ISSN: 1477-7835

Keywords

Expert briefing
Publication date: 8 November 2023

Russian authorities notably expressed interest in investing in Equatorial Guinea’s declining oil sector. Meanwhile, although the ageing Obiang has crushed domestic opposition, he…

Details

DOI: 10.1108/OXAN-DB283229

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 5 December 2023

Nzanzu Y'Ise Kivalya and Tristan Caballero-Montes

The purpose of the present paper is to provide a systematic overview of dimensions that need to be enfolded or considered in microfinance policies and strategies designs as well…

Abstract

Purpose

The purpose of the present paper is to provide a systematic overview of dimensions that need to be enfolded or considered in microfinance policies and strategies designs as well as impact studies aiming to empower or assess the empowerment of a specific category of women, namely women entrepreneurs. Afterward, the study aims to suggest some directions for future studies.

Design/methodology/approach

To meet its purpose, the paper applies the systematic review approach. The applied methodology follows guidelines for systematic reviews of social and economic interventions as set out by the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA). More specifically, the authors examine 87 empirical papers from 6 databases investigating the impact of microfinance institutions on the empowerment of women entrepreneurs.

Findings

Overall, findings of the study suggest that dimensions of the empowerment of women entrepreneurs are formed and conditioned by normative, cognitive and regulative institutional logics. Additionally, the systematic review suggests key research avenues and calls for more inclusive empirical studies in terms of geographical coverage, microfinance services/products assessed and method designs applied.

Research limitations/implications

Findings of the current review provide clear theoretical contribution and useful practical implications in the field of microfinance and the empowerment of women entrepreneurs. On the one hand, the study suggests to scholars key avenues for future studies likely to bring new insights in terms of theory, context and methods. On the other hand, this study extents the understanding of microfinance practitioners on the concept of women empowerment as the field of female entrepreneurship is concerned. This implication is likely to enable the design of appropriate microfinance strategies and policies, allowing women entrepreneurs to achieve an overall empowerment.

Originality/value

The present paper contributes to the debate around the multidimensionality of the concept, “women empowerment.” The multidimensional nature of the addressed concept is well established in the existing literature. However, to the best of the authors’ knowledge, no study has provided a conceptual analysis of empowerment dimensions of a particular category of women, namely women entrepreneurs. Unlike most of the studies assuming that all women face identical challenges, the present paper brings new insights on the topic as it is built on a different assumption. The paper takes ground from the institutional theory and applies it to the specific case of female entrepreneurship.

Details

International Journal of Gender and Entrepreneurship, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1756-6266

Keywords

Article
Publication date: 7 March 2023

Idris Abdullahi Abdulqadir

The purpose of this paper is to investigate sustainable green economy in sub-Saharan African (SSA) countries over the period 1990–2019 using a quantile regression approach…

Abstract

Purpose

The purpose of this paper is to investigate sustainable green economy in sub-Saharan African (SSA) countries over the period 1990–2019 using a quantile regression approach, considering the nexus between urbanization, economic growth, renewable energy, trade and carbon dioxide (CO2) emissions.

Design/methodology/approach

The study used a dynamic panel quantile regression to investigate the conditional distribution of CO2 emissions along the turn-points of urbanization, economic growth, renewable energy, trade and the regressors via quadratic modeling specifications.

Findings

The main findings are established as follows. There is strong evidence of the Kuznets curve in the nexus between urbanization, economic growth, renewable energy, trade and CO2 emissions, respectively. Second, urbanization thresholds that should not be exceeded for sustainability to reduce CO2 emissions are 0.21%, and 2.70% for the 20th and 75th quantiles of the CO2 emissions distribution. Third, growth thresholds of 3.64%, 3.84%, 4.01%, 4.36% and 5.87% across the quantiles of the CO2 emissions distribution. Fourth, energy thresholds of 3.64%, 3.61%, 3.70%, 4.02% and 4.34% across the quantiles of the CO2 emissions distribution. Fifth, trade thresholds of 3.37% and 4.47% for the 20th and median quantiles of the CO2 emissions distribution, respectively.

Practical implications

The empirical shreds of evidence offer policy implications in such that building sustainable development and environment requires maintaining the critical mass, not beyond those insightful thresholds to achieving sustainable development and environmentally friendly SSA countries.

Social implications

Sustainable cities and communities in an era of economic recovery path COVID-19 mitigate greenhouse gas. The policy relevance is of particular concern to the sustainable development goals.

Originality/value

The study is novel considering the extant literature by providing policymakers with avoidable thresholds for policy formulations and implementations in the nexus between urbanization, economic growth, renewable energy and trade openness.

Details

International Journal of Energy Sector Management, vol. 18 no. 2
Type: Research Article
ISSN: 1750-6220

Keywords

Executive summary
Publication date: 8 September 2023

GABON: Opposition weaknesses may boost junta

Details

DOI: 10.1108/OXAN-ES281810

ISSN: 2633-304X

Keywords

Geographic
Topical
Book part
Publication date: 20 November 2023

Demba Moussa Dembele

This chapter aims to demonstrate how the colonial legacy in general, and in its monetary area in particular, has been one of the major obstacles to African countries' ability to…

Abstract

This chapter aims to demonstrate how the colonial legacy in general, and in its monetary area in particular, has been one of the major obstacles to African countries' ability to mobilize financial resources for their development. In fact, the monetary systems inherited from colonialism serve as an instrument to plunder African resources and extract surplus for capital accumulation in former colonial powers. One of the best examples is found in the relationships between France and its former colonies in West and Central Africa. The monetary system imposed on those countries is essentially perpetuating the Colonial Pact, under which the role of the colonies is to serve the political, economic, and strategic interests of the colonial power. For African countries, the monetary arrangement, illustrated by the use of CFA franc as their currency, has been a major obstacle to capital accumulation, productive capacity building and effective structural transformation of their economies. Unless African countries break free from the CFA monetary system and reclaim their sovereignty, there will be no development. The struggle for monetary sovereignty in former French colonies is now part of a broader continental struggle to reclaim Africa's sovereignty over its resources and the formulation of its development policies.

Book part
Publication date: 6 June 2023

Tassew Dufera Tolcha, Svein Bråthen and Johan Holmgren

It is important for stakeholders to understand the driving forces of the aviation industry and economic wellbeing and how these sectors are interconnected. This chapter studies…

Abstract

It is important for stakeholders to understand the driving forces of the aviation industry and economic wellbeing and how these sectors are interconnected. This chapter studies the relationships between the African aviation industry and the economy. It is framed as a causal linkage considering the priority investment sector that enhances the sustainable wellbeing of the society. Analyses were conducted for 38 African countries using time series data from 1981 to 2019. The results show that causal relationships are heterogeneous and context-specific. Four patterns of causal relationships between air travel demand and the economy are identified: unidirectional causality in either directions; bidirectional causality; and indeterminate causal direction. However, the causal direction in any economic or policy-related matter may change with political reforms and changes to economic policy.

Details

Airlines and Developing Countries
Type: Book
ISBN: 978-1-80455-861-4

Article
Publication date: 5 February 2024

Abiodun Samuel Adegbile, Oyedele Martins Ogundana and Sola Adesola

Entrepreneurship policy is a vital component of any entrepreneurial ecosystem. However, the specific policy initiatives that have a greater impact on women's entrepreneurship…

Abstract

Purpose

Entrepreneurship policy is a vital component of any entrepreneurial ecosystem. However, the specific policy initiatives that have a greater impact on women's entrepreneurship remain unclear in many developing economies. Therefore, this study aims to evaluate the effectiveness of entrepreneurship policies targeted at women’s entrepreneurship in sub-Saharan Africa (SSA).

Design/methodology/approach

Employing fuzzy-set qualitative comparative analysis (fsQCA), this paper utilises and analyses secondary data collected by the World Bank's Women, Business, and the Law (WBL) from 1970 to 2020, encompassing 48 countries within SSA.

Findings

Through our analysis, we identified two configurations that sufficiently support women's entrepreneurship. First, a combination of gender-based policies focussing on enabling “access to credit” and “signing of contracts”; and second, a blend of policies supporting “signing of contracts”, “business registration”, and “opening a bank account”, represent significant antecedents to supporting women's entrepreneurship. These distinct pathways are crucial to fostering women’s entrepreneurship in the SSA region.

Research limitations/implications

The study's findings indicate that the impact and effectiveness of entrepreneurship policies targeted at women entrepreneurs in developing economies depend on the effectiveness of other policies that are in place.

Originality/value

This study offers new insights into the intricate interrelationship between entrepreneurship policies and women’s entrepreneurship in developing countries by considering the interdependence and combinative value of gender-based policies that effectively support women’s entrepreneurship in sub-Saharan Africa.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

Keywords

Expert briefing
Publication date: 28 June 2023

The downgrade reflects the expected realisation this year of the delayed global economic slowdown. The resulting debt overhang in the region has depleted the space for fiscal…

Article
Publication date: 8 May 2023

Temitope Abraham Ajayi

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with…

Abstract

Purpose

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with panel data between 2001 and 2021.

Design/methodology/approach

This research paper uses a specialised two stage estimator, the panel instrumental variable technique (panel IV), which takes care of the potential endogeneity issues in the model.

Findings

The findings show that natural gas rent significantly impacts the economic growth of the GECF. On average, natural gas rent increases the sample’s growth rate by about 2.634% percentage points in the short run. The result indicates that the qualities of institutions (political and economic) have a significant positive long-term effect on the economies of the GECF. In addition, the study’s energy price volatility positively correlates with the countries’ growth.

Research limitations/implications

There might be a need to investigate the effects of natural gas rents and institutions as co-growth drivers in each country within the GECF. The likelihood exists that the impact of natural gas rents and institutions on economic growth at the country’s level may differ from the outcome of such an experiment on the group level. Because of space and time limitations, this study could not carry out the specific country’s investigation of natural gas rents and institutions as a co-growth driver. That limitation may constitute further study to advance this study to a new height.

Practical implications

With good institutions, natural gas rent is likely to be an alternative growth driver for some economies that rely on fossil fuels like oil as a growth driver. By extension, the GECF has the potential to rival Organisation of Petroleum Exporting Countries (OPEC) in the global energy market, particularly in achieving Sustainable Development Goal number seven. In essence, evidence in this study suggests that natural gas rent has long-term positive effects on the growth of the GECF, conditioned on good institutions. Moreover, the drive of global energy consumption towards sustainable energy usage is an economic blessing for the GECF. By extension, the demand for natural gas would continue to rise, creating opportunities to improve natural gas rents. By implication, the GECF would continue to benefit from the pursuit of sustainability as the world shifts towards energy consumption with less CO2.

Originality/value

Firstly, this study models the qualities of institutions for the GECF. Secondly, to the best of the author’s knowledge, this study is the first attempt to examine natural gas rents and the qualities of institutions as co-determinants of economic growth among the GECF (a potential cartel).

Details

International Journal of Energy Sector Management, vol. 18 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

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