Global Journal of Social Sciences

Financial Openness (A Dejure And Defacto Measure) And Economic Growth In Nigeria

Omang N S, Ahakiri F I, Abang S O, Kengne F P , Ubi P — Tue, 20 Aug 2024 00:00:00 +0000

Economic theory says that financial openness should foster economic growth. In view of this study, this study examined the impact of financial openness on economic growth in Nigeria using annual data for the period 1981 to 2023. The use of the Autoregressive Distributed Lag (ARDL) bounds testing approach was used. The study made use of De jure and the De facto as a measure of financial openness and other variables like Foreign Direct Investment, Gross Fixed Capita Formation, Real Interest Rate, Real Effective Exchange Change Rate as the independent variables while Real Gross Domestic Product was employed as the dependent variable. The result of the study show that a 10 per cent increase in financial openness De Jure measure will lead to a 0.16 percent increase in real gross domestic product (RGDP). Also, the value of the coefficients of (0.006583) implies that an increase in balance of payment by 10 per cent will result to an increase in real gross domestic product by 0.07 per cent. The study found out that the variables of financial openness variables are both positively and negatively signed but statistically significant. The study concluded that changes in financial openness affect economic growth. The study shows that a positive relationship exists between market capitalization, De jure financial openness, and economic growth. Based on the results obtained, the study recommended that effective policies should be put in place to control the interest and exchange rate. This is vital because management of financial openness and all international capital flows that will contribute positively to the growth of the economy can only be accomplished by a stable interest and exchange rate. The study further recommend that banks should be encouraged to extend more credit to private sector. But there is a serious need for discipline and discretion in credit allocation by the banks.

Foreign Trade And Economic Growth In Nigeria: A Cointegration Approach

Omang N S, Ahakiri F I, Kengne F P, Abang S O, Ubi P — Tue, 20 Aug 2024 00:00:00 +0000

The relationship between foreign trade and economic growth is a subject of intense debate among economic researchers and policymakers. This study analyze this relationship in Nigeria using advanced statistical techniques which is the Auto Regressive Distributed Lag (ARDL) model bounds test. The study covers the period from 1981 to 2023 and includes pre and post-estimation diagnosis tests to ensure the accuracy of the model. The results indicate the presence of a long-run relationship among foreign trade and economic growth, as confirmed by ARDL bounds test. In the short run, there is a significant association between foreign trade and economic growth. The Granger causality test reveals a bidirectional causality between economic growth and foreign trade. Based on these findings, it is suggested that the Nigerian government needs to moderate its trade policy as the economy seems too weak to absorb the adverse shocks from external trade. Most importantly, the problem that arises from exchange rate should be tackled and put in place to offset the likely negative effects of exposing the economy to external influences.

Hegemony Of The United States And Wars In The Middle East

Gabriel T Abumbe, Nsan Kingsley, Okimisor Ofem Lawrence — Wed, 21 Aug 2024 00:00:00 +0000

The Middle East is a region of paramount importance in US foreign policy. Consequently, this study endeavors to scrutinize the foreign policy strategies implemented by the US in its dealings with the Middle East and assess whether these strategies contribute to preserving its hegemonic status in the global order. Employing a qualitative methodology, the study heavily relies on secondary data. A comprehensive literature survey forms the basis of information collection, with subsequent analysis conducted within a theoretical framework. The Hegemonic Stability Theory, Realism, Offensive Realism, and Offense-Defense Theory serve as the primary theoretical lenses for data analysis. Notably, the study places a spotlight on US foreign policy towards key Middle Eastern players such as Iran, Iraq, and the Israel-Palestine conflict. The findings of the study indicate that US foreign policy strategies vis-à-vis the Middle East effectively serve the purpose of safeguarding its hegemonic position in the global order. However, it is essential to acknowledge that these strategies, while achieving their intended goals, have a detrimental impact on the perception of the US as a benevolent hegemon. The study illuminates the intricate dynamics between power projection and global image management in the realm of international relations, particularly concerning the Middle East.

The Threat And Risk Of Small Arms And Light Weapons Proliferation To The Security Of The Nigerian State

Theophilus O Adejumo, Ndum Victor Etim, Okomisor Ofem Lawrence, Samuel Edet — Wed, 21 Aug 2024 00:00:00 +0000

The devastation inflicted by the atomic bombs dropped on Hiroshima and Nagasaki during World War II alerted the world to the threat and risk of humanity being exterminated from the planet's surface by weapons of mass destruction. As a result, numerous organizations, most notably the United Nations, regional groups, and non-state players, have attempted to assure global security. The United Nations formed the International Atomic Energy Agency on July 29, 1957, to combat the spread of nuclear, chemical, and biological weapons. However, since the conclusion of the Cold War, the world has come to the startling realization that the majority of injuries and deaths documented in internecine wars are caused by Small Arms and Light Weapons rather than weapons of mass devastation. Indeed, current literature demonstrates that, while some research has been conducted on the proliferation of SALWs, nothing has been done on the threat and risk of these weapons' proliferation to Nigerian security. This is the key gap that our study aims to fill. This study employs a qualitative method to data analysis, depends on secondary data sources, and is supported by an argument based on both the realist and liberal theoretical frameworks of analysis. Finally, this article suggests that, while weapons play a key role in exacerbating conflict, resulting in massive human and economic losses, the roots of such conflicts are political, economic, ethnic, and religious imbalances. Lastly, this report discovered that SALWs were never considered strategic to global security or subjected to a systematic traceable transfer process. This was true until the conclusion of the Cold War, when asymmetric conflict in the world's weaker governments threatened to split them apart.

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Entrepreneurial Competency And Entrepreneurial Success: A Conceptual And Empirical Review

Tue, 20 Aug 2024 00:00:00 +0000

Entrepreneurial competency consists of specific skills, knowledge and abilities require by entrepreneur to start and manage an enterprise successfully. It consists of both the technical and management components. The skills and knowledge constitute the technical or the hardware component of entrepreneurial competency while management component could be described as the software aspect of entrepreneurial competency needed by the entrepreneur to function well in hardware functions. To ensure entrepreneurial success, entrepreneur must acquire the needed competencies which could be through training, education or hands-on experience. The purpose of this paper is carry out conceptual and empirical review on entrepreneurial competency and entrepreneurial success to provide a deeper understanding of the concepts and provide research direction to researchers most especially at this time of global inflation when small and medium businesses are finding it difficult to survive. Therefore, the paper provides a detailed review of the concepts of entrepreneurial competency and entrepreneurial success. Also, empirical review on the effect of entrepreneurial competency on entrepreneurial success and four measures of success namely profitability, sales growth, customer satisfaction and competitiveness are presented in this paper. The paper recommends that researchers should focus more attention on studying various dimensions of entrepreneurial competency to examine their effects on both financial and non financial measures of entrepreneurial success.

Influence Of Professional Development On Teachers' Job Or Work Performance In Public Primary Schools In Nakuru County Kenya

Christine Kamba Malebe, Pamela Ochieng, Emily Nyabisi — Wed, 04 Sep 2024 00:00:00 +0000

The effectiveness of school systems and learners' academic performance in Kenya relies heavily on head teachers' instructional leadership practices and teachers' work performance, raising the need for suitable instructional leadership practices to achieve the desired quality of education outlined in Vision 2030 and the fourth Sustainable Development Goal. However, recent reports highlight concerns about teachers' work performance, especially regarding their classroom pedagogical knowledge, skills, and practices. The purpose of the study was to assess the influence of provision of professional development opportunities by the head teachers on teachers’ work performance in public primary schools in Nakuru County, Kenya. The research hypothesis was “Provision of professional development opportunities by the head teachers has no statistically significant influence on teachers’ work performance in public primary schools in Nakuru County, Kenya”. Hallinger and Murphy's (1985) Model of Instructional Leadership and Campbell et al.'s (1993) Theory of Job Performance informed the study. The study employed a mixed methods approach with the convergent parallel design, collecting both quantitative and qualitative data from 466 respondents in 68 primary schools. The sudy population was divided ino 3 strata, namely pupils, teachers, head teachers, and Quality Assurance and Standards Officers (QASOs). The sample included 60 pupils, 329 teachers, 68 head teachers, and 9 QASOs. The study samples for head teachers, and Quality Assurance and Standards Officers (QASOs) were selected using purposive sampling technique, while that of pupils was selected using simple random sampling technique. Data were gathered through questionnaires, interviews, focus group discussions, and document analysis. Statistical analyses in SPSS version 25 included descriptive statistics, percentages, Spearman rank correlation, and regression analysis. The results show that the provision of professional development by head teachers had no significant influence on teachers' work performance in public primary schools in Nakuru County.The study concluded that teachers’ work performance was critical for the overall school outcomes. The study recommends that head teachers should implement internal professional development programs, considering key procedures like identifying teachers' training needs for instructional improvement, encouraging in-service training, providing guidance on performance gaps, organizing peer coaching, and promoting further studies for career advancement.