This paper revisits the direction of causality between institutions and economic growth for a sample of 119 countries over the period 1999-2018, divided into four groups according to income level: high income, upper middle income, lower middle income and low income. The study uses two institutional datasets, the International Country Risk Guide (ICRG) for the main estimation and the World Governance Indicators (WGI) for check the robustness of the results. Using the non-causality Granger test in a heterogeneous panel model with fixed coefficients, developed by Dumitrescu and Hurlin (2012), the empirical results show a unidirectional relationship for all panels except for lower middle-income countries, where causality is bidirectional. The findings also suggest that causality patterns are heterogeneous and depend on the level of development of the countries. Based on these results, we propose some interesting recommendations. The types of reforms to prioritize must be determined according to the direction of causality between institutions and economic growth. Moreover, heterogeneous causality implies the implementation of different policies adapted to the level of development of each panel, rather than considering a common policy.
Anthony Nyangarika
Glob Acad J Econ Buss; 2024, 6(6): 156-165
DOI : https://doi.org/10.36348/gajeb.2024.v06i06.002
This study proposes a robust strategy for bolstering the country’s economic development. Leveraging an econometric approach model, the research incorporates additional factors and extrapolates predictions based on historical data. By combining qualitative and secondary data, the study ensures a comprehensive analysis of the model through the error term and the ability to use mathematical treatments to determine future predictions based on historical data. The findings show that a lack of belonging, poor customer care, and the cost factor of FDI significantly affect revenue collection. Adopting new technology requires thorough preparation to avoid generating less revenue than expected. The study recommends that the government establish appropriate infrastructures for long-term strategy support for new technology adoption. Failure to do so may result in a waste of resources. Government policy and strategy significantly impact TRA performance. The URT government should adopt policies from other developed countries or modify them to suit local needs. The findings suggest serious corrective measures to prevent tax evasion through bribery or tampering with revenue collection infrastructures.
Udensi, Isaac Ukaoma, Oyama, Ojong Sunday, Abbey, Moses Egbe
Glob Acad J Econ Buss; 2024, 6(6): 140-155
DOI : https://doi.org/10.36348/gajeb.2024.v06i06.001
Housing affordability remains a critical challenge in Nigeria, driven by rapid urbanization, inadequate housing supply, economic disparities, and fluctuating macroeconomic conditions. This study investigates the impact of housing supply, income levels, and key macroeconomic factors, specifically inflation, interest rates, and GDP growth, on housing prices in Nigeria. Using a quantitative research design, secondary data from the Central Bank of Nigeria, the National Bureau of Statistics, and the World Bank were analyzed over the period from 2013 to 2023. Statistical analyses, including trend analysis, correlation, multiple regression, and Granger causality tests, were conducted to determine the relationships between housing prices, housing supply, income levels, and macroeconomic indicators. Findings indicate that increased housing supply plays a stabilizing role in moderating housing prices, while rising income levels drive demand elevates prices. Inflation is identified as a key driver of housing costs, primarily due to escalating construction expenses, while interest rates show minimal impact on housing prices due to limited mortgage accessibility in Nigeria. The study among others recommends policies to increase the affordable housing supply, including incentives for developers and streamlined regulatory processes. Income support measures and affordable mortgage options tailored for low- and middle-income earners are also recommended to improve housing accessibility. To mitigate the impact of inflation, strategies to stabilize construction costs are proposed, along with broader monetary policies to promote economic stability. This study underscores the need for an integrated housing policy framework in Nigeria that addresses supply expansion, income growth, and inflation control to enhance housing affordability in the nation’s urban centers.
Anthony Nyangarika
Glob Acad J Econ Buss; 2024, 6(5): 126-139
DOI : https://doi.org/10.36348/gajeb.2024.v06i05.002
This study uses a simultaneous equation model (SEM) to examine the relationship between oil price fluctuations and Russia's macroeconomic performance. It uses a comprehensive set of variables, including GDP growth, investment, export and consumption rates, exchange rates, and oil prices, to estimate the interactions between these variables. The study reveals significant findings on the macroeconomic impact of oil price fluctuations on Russia's economies, including short-term and long-term effects on GDP growth, inflation, and unemployment rates. It also examines the role of monetary policy in mitigating the adverse effects of oil price shocks on the economy. The study highlights Russia's vulnerability to oil price fluctuations, especially due to its heavy reliance on oil exports. It also examines the effectiveness of policy responses, such as fiscal measures and exchange rate interventions, in mitigating the impact of oil price shocks on Russia's macroeconomic stability. The findings provide valuable insights for policymakers and stakeholders, aiming to enhance economic resilience and stability in the face of oil market fluctuations.
Christian Gbarawae NWIKINA , Edobot Udo EKERE
Glob Acad J Econ Buss; 2024, 6(5): 117-125
DOI : https://doi.org/10.36348/gajeb.2024.v06i05.001
This study uses econometric techniques to analyze the effect of sectoral foreign direct investments on economic development in Nigeria from 1985-2022. Secondary data on real gross domestic product (RGDP), human development index (HDI), foreign direct investments (FDI) in service, transport and communications sectors were sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin, National Bureau of Statistics (NBS) Report, and Word Development Indicators (WDI) of Word Bank. The Autoregressive Distributed Lag (ARDL) test processes was utilised as the analytical methods. The ARDL result revealed that in the long run, FDI in the long run, FDI in service sectors had had negative and insignificant effects on human development index. FDI in manufacturing, likewise transport and communications sectors had positive and insubstantial effects on human development index. In the short run, FDI in transport and communications sectors had negative and significant effects on HDI. FDI in manufacturing sector had positive and insignificant effect on HDI. However, FDI in service sector had positive and substantial effect on HDI. Hence, it was concluded that FDI had substantial impact on human capital development. Therefore, the study recommended that government should provide needed enabling environment to increase FDIs in various sectors. To achieve this, government should remove all the road blocks to foreign productive investments in Nigeria. The process ranges from fixing infrastructural deficits through addressing issues of good governance, corruption and insecurity.
Mohamed O. Elfarnawani, Mira Kartiwi
Glob Acad J Econ Buss; 2024, 6(4): 109-116
DOI : https://doi.org/10.36348/gajeb.2024.v06i04.003
Blockchain (BC) technology has been introduced to the Halal food supply chain (HSC) in Malaysia in order to certify the Halal status of food products. This study uses a qualitative research approach to investigate the perspectives of stakeholders involved in HSC on the use of BC in the HSC in Malaysia, using semi-structured, one-to-one interviews. Five in-depth interviews revealed a range of interrelated themes, including the level of awareness of BC technology among participants, their vivid articulations of the perceived advantages and disadvantages of this transformative technology within the unique context of Halal supply chains in Malaysia and the challenges that exert their impact on Blockchain's course within this ecosystem, in addition to the perceived success factors, revealing that there is lack of awareness on Blockchain technology among stakeholders, excluding technology providers. Identified challenges span technological, legal, inter-organizational, security, safety, and financial domains. Conversely, success factors encompass heightened awareness, trust-building, financial backing, and regulatory alignment.
Michael Galukande-Kiganda, Aituk Erina, Mulyanyuma Sam Munyu, Amuka Moris, Kusoul Morgan, Lunyolo Justine
Glob Acad J Econ Buss; 2024, 6(4): 101-108
DOI : https://doi.org/10.36348/gajeb.2024.v06i04.002
This paper provides an analysis of the models of public administration in government effectiveness in Uganda. The analysis was based on three selected models: The Classical Public Administration model, New Public Management model, and Post-modern model and highlights the lessons learnt in embracing these models. Literatures was drawn from secondary sources that included focus books, Journals, and other internet materials. The paper relied on experts who were public management practioners to qualitatively interpret and analyse salient remarkable issues during adaptation of these approaches in Uganda’s public service regimes. Findings were that each approach had for some time dominated public management in Uganda but with differing success, challenges and lessons learnt. The paper concludes that more concerted efforts should be geared towards theorizing old, contemporary and new terms in public administration so as to gain an in-depth understanding of the causes and consequences of any given subject matter in the field, as well as building new field of enquiries, and help clarifying and directing inquiry into Uganda’s public policy making, governance and ethics among other subjects within public administration.
Top Editors
Dr. Sumathi Kumaraswamy
Associate Editorial Board
Assistant Professor Department of Economics and Finance College of Business Administration University of Bahrain Email: skumaraswamy@uob.edu.bh
Dr. Jitender Kumar
Associate Editorial Board
Assistant Professor, Department of Management Studies, Deenbandhu Chhotu Ram University Murthal, Sonepat, Haryana, India Email: jitenderkbatra@gmail.com
Omer Allagabo Omer Mustafa
Associate Editorial Board
Assistant Professor of Economics, Banking and Finance, Deputy Secretary of Academic Affairs-Sudan Academy for Banking and Financial Sciences (SABFS), Khartoum, Sudan E-mail: omergabo78@sabfs.edu.sd
Dr. Zahoor Ahmad Parray
Associate Editorial Board
Department of Management Studies, South Campus, University of Kashmir Anantnag, Jammu and Kashmir, India Email: zahoorhs@gmail.com
Dr. Hafnida Hasan
Associate Editorial Board
Assistant professor in Applied Sciences University (ASU), Kingdom of Bahrain Email: hafnida.hasan@asu.edu.bh
Dr. Ulysses J Brown III
Associate Editorial Board
College of Business Savannah State University 3219 College Street Savannah GA 31404 Email: brownu@savannahstate.edu , brownuj@gmail.com
Dr. C. Vijai
Associate Editorial Board
Assistant Professor Department of Commerce St.Peter’s Institute of Higher Education and Research, Avadi, Chennai-600 054 Tamil Nadu, India Email: Vijaialvar@gmail.com
Prof. Mounir BELLOUMI
Associate Editorial Board
College of Administrative Sciences, Najran University, Saudi Arabia Email: mounir.balloumi@gmail.com
Prof. P Malyadri
Editor-in-Chief
ICSSR Senior Fellow Centre for Economic and Social Studies (CESS), Begumpet, Hyderabad-500016, India Email: drpm16@gmail.com
Husam Alharahsheh
Executive Editor
Lecturer in business management, University of wales Trinity Saint David - UK Senior lecturer, Several UK and EU based higher education institutions Email: husam.helmi1@yahoo.com
Dr. Mohd Shahril Bin Ahmad Razimi
Deputy Chief-Editor
Programme Coordinator Senior Lecturer, Islamic Business School Universiti Utara Malaysia Email: shahril@uum.edu.my
Aliashraf Ahmadian
Associate Editorial Board
Marketing lecturer Graduated in the Degree of Doctor of Philosophy (phD) from University of Tehran, Iran. Email: AliAshrafAhmadian@ut.ac.ir
ZULFAN NAHRUDDIN
Executive Editor
Lecturer at Muhammadiyah University of Makassar email:- zulfan.nahruddin@unismuh.ac.id
PDF (Portable Document Format) is a file format that has captured all the elements of a printed document as an electronic image that you can view, navigate read more...
A full-text database is a compilation of documents or other information in the form of a database in which the complete text of each referenced document is read more...
Contact us
Scholars Middle East Publishers,
Gold Souk, Deira, d – 24 D85,
Dubai, United Arab Emirates
+971-54-717-2569
submit.gajrc@gmail.com
Useful Links
Home
Aim and Scope
Author Guidelines
Subject Area
About Us
GAJRC (Global Acedemic Journals and Research Consortium) is an international scholar’s community
which publish research paper under Scholars Middle East Publisher for open access scientific
journals in both print and online publishing from Dubai, UAE. Read More Here
