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1 – 10 of over 2000Oluwatosin Adeniyi, Patricia Iyore Ajayi and Abdulfatai Adekunle Adedeji
Many West African countries face the challenge of growth inclusiveness. The region is also facing challenges of equipping its teeming population with high-quality skills despite…
Abstract
Purpose
Many West African countries face the challenge of growth inclusiveness. The region is also facing challenges of equipping its teeming population with high-quality skills despite many reforms and initiatives introduced in the past. This study, thus, identifies education as a crucial contributory factor to growth inclusiveness in the region. It, therefore, examined the role of education in growth inclusiveness in West Africa between 1990 and 2017.
Design/methodology/approach
The study utilised different proxies to capture quantity and quality dimensions of education. The unit root and ARDL “Bounds” tests were employed at a preliminary stage. Based on the preliminary tests, the study explored autoregressive distributed lags modelling technique to capture the short-run and long-run dynamic effects.
Findings
The empirical results reveal a positive impact of school enrolment measures in most of the countries in both short-run and long-run. Education quality measure exerts positive impact and significant in few countries under consideration.
Practical implications
These countries should give adequate attention to quality when designing education policy to foster their inclusive growth.
Originality/value
This study highlights the critical role of education in the inclusive growth pursuit. Education quantity is important to growth inclusiveness but the quality of education is more fundamental. The quality of education possessed determine to a large extent, what individual can contribute to the productive activities within the economy and accessibility to benefits from economic prosperity.
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University, industry and government relationships, known under the Triple Helix, have been studied under various aspects. The West African region and countries have been analysed…
Abstract
Purpose
University, industry and government relationships, known under the Triple Helix, have been studied under various aspects. The West African region and countries have been analysed with mutual information and transmission power, two information theory-based indicators. The purpose of this paper is to portray the landscape of West African Triple Helix innovation systems using three main game theory indicators (core, Shapley value and nucleolus) with the objective to measure the synergy within the selected innovation systems.
Design/methodology/approach
The collaboration between university, industry and government is modelled as a three-person coalitional game. Bibliographical data of selected countries were collected from Web of Science and organised according to collaboration patterns between the three actors. The characteristic functions of the games were computed, the cores plotted, the Shapley values and the nucleoli computed.
Findings
Either university or government has more power to create and lead to synergy; government shows solidarity towards university and industry in most of countries; and they are joined in their efforts by industry in two countries. The core exists in all the countries meaning that all the selected innovation systems present synergy; however, the extent is limited and varies over countries.
Research limitations/implications
Innovation includes all research products; however, this study focuses on publications only.
Originality/value
Synergy within a Triple Helix innovation system is studied up to now with information theory indicators. The paper portrays the landscape of West African Triple Helix innovation systems using three main game theory indicators: the core, the Shapley value and the nucleolus and gives a new way to study university, industry and government relationships.
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The importance of sovereign bond as a source of financing revenue deficit, benchmarking for corporate bonds and debt management in Africa, calls for continual monitoring of its…
Abstract
The importance of sovereign bond as a source of financing revenue deficit, benchmarking for corporate bonds and debt management in Africa, calls for continual monitoring of its volatility dynamics. This study evaluates the nature of sovereign bond volatility interaction between African countries using bivariate BEKK-GARCH (1, 1) model. Based on a sample of eight African countries, the results show evidence of unidirectional volatility spillover from Morocco sovereign bond to Egypt sovereign bond. Next, the results show absence of volatility interaction between Ghana and Nigeria sovereign bonds. The results further show the existence of bidirectional volatility transmission between Uganda and Kenya. Finally, the results indicate evidence of bidirectional volatility interaction between Botswana and South Africa. Overall, the results show existence of full interaction between Uganda–Kenya and Botswana–South Africa sovereign bond returns, partial interaction between Egypt and Morocco sovereign bond returns and no interaction between Ghana and Nigeria sovereign bonds markets. Thus, these results provide valuable implications for sovereign and corporate credit risk management, as well as strategy for monitoring and minimising negative effect of sovereign bond volatility spillover in Africa.
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The belt and road initiative (BRI) emanates from China and seeks to connect Europe, Asia and Africa through transport and telecommunications infrastructure. Despite the importance…
Abstract
Purpose
The belt and road initiative (BRI) emanates from China and seeks to connect Europe, Asia and Africa through transport and telecommunications infrastructure. Despite the importance of Africa in the BRI network, very little research has been done on the BRI in Africa, and even less of this emanates from Africa itself. In particular, considering that the BRI investments in Africa are largely transport related, there is almost no research covering the area of logistics, which should be greatly affected by the infrastructure investments. This paper sought to establish the current state of logistics research related to the BRI in Africa.
Design/methodology/approach
A bibliometric analysis was conducted on documents extracted from the SCOPUS database.
Findings
The findings indicate that there is a lack of research in critical areas such as environmental, social and economic impact of BRI transport investments, governance, logistics performance and international cooperation. In particular, there is a massive gap in local knowledge regarding the BRI.
Research limitations/implications
The study is limited to published research indexed in the SCOPUS database. Future research directions include empirical studies into BRI project initiation investigation, economic and environmental impacts, governance structures and policy intervention requirements and macro-level logistics impacts.
Practical implications
The study emphasises the importance publishing all the relevant information regarding BRI related projects in Africa to create transparency.
Originality/value
The study investigates the current research on the effect of China's BRI on transport and logistics in Africa through a bibliometric analysis. The investigation reveals that while there are huge investments in infrastructure, the actual effect on logistics of participating countries in Africa has not been interrogated.
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Abstract
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Agwu Sunday Okoro, Augustine Ujunwa, Farida Umar and Angela Ukemenam
This paper examines the impact of regional and non-regional trade on economic growth using annual data from Economic Community of West African States (ECOWAS) member countries for…
Abstract
Purpose
This paper examines the impact of regional and non-regional trade on economic growth using annual data from Economic Community of West African States (ECOWAS) member countries for the period 2007 to 2017.
Design/methodology/approach
Trade data were decomposed into regional (trade among ECOWAS Member States) and non-regional (trade between ECOWAS Member States and the rest of the world). We used the dynamic system GMM to estimate the models and introduced exchange rate, unemployment rate, population growth and gross capital formation as controlled variables.
Findings
The results revealed that the estimated coefficient of ECOWAS regional trade is statistically significant and positive in predicting growth, while the non-regional trade coefficient is negative and not statistically significant in predicting growth. Other predictors of growth introduced into the model as controlled variables, such as exchange rate, unemployment rate, population growth and gross capital formation, displayed mixed results. More importantly, population growth, unemployment and exchange rate depreciation hurt economic growth, while gross capital formation promotes economic growth.
Practical implications
The findings provide strong support in favour of the Krugman (1991) hypothesis that regional trade agreements (RTAs) are a better alternative to global trade.
Originality/value
Our decision to disaggregate ECOWAS trade is unique and influenced largely by the objective of the study, which is to establish the type of ECOWAS trade that is a good predictor of growth. The evidence from our findings support the theory that RTAs are a better catalyst to economic growth.
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