Fiscal Structure and Socioeconomic Wellbeing of Nigerian Populace under Democratic Regime (Published)
This study analyzed the impact of fiscal structure on socioeconomic wellbeing of Nigerian populace under the democratic dispensation. The statutory revenue allocations to the three tiers of government in Nigeria were used in this study to typified fiscal structure while socioeconomic wellbeing was measured with human development index (HDI). Data collected were subjected to Vector Error Correction Mechanism and results indicated that allocations to: the federal government showed no significant impact on HDI; the state governments exhibited significant negative impact on HDI while the local governments exerted a significant positive impact on HDI. The study therefore holds that the local government system remains the most efficient level of governance in terms of bettering the wellbeing of the people. The study recommended (among others) that the huge fiscal responsibilities allocated to the federal government of Nigeria should be depleted and transferred to the government closer to the populace (the local government).
Keywords: Human Development Index, fiscal structure, socioeconomic wellbeing, statutory allocation
Financial Sector Development and Poverty Reduction Nexus: Evidences from Nigeria (Published)
Previous studies have examined the effect of financial sector development on poverty reduction. This study is unique by adopting the UNDP broader measure of well-being, the Human Development Index (HDI) to provide an argument for financial sector development process and poverty reduction interrelationship in Nigeria for the period 1988-2017. Stationary properties of the series were tested by the ADF unit root test. The paper uses the Johansen Co-integration test to examine the existence of long run relationship among the variables. Generally, it was found that financial sector development has both positive and significant relationship with HDI used as proxy for poverty level. The result also indicates a significant positive relationship between aggregate credit (AGC) and HDI. This shows that financial sector development which manifests in the ability of the banking sector to facilitate borrowing and investment in income earning assets, and stimulate the private sector, in particular, small and medium scale enterprises (SMEs), impacts positively on HDI. Finding also shows that aggregate deposit (AGD) (deposit opportunities available to deposit money banks) is negatively related to HDI and significant. This perhaps suggests that the volume of deposit mobilization by deposit money banks in Nigeria is relatively low to what is needed to transform the economy as well as the standard of living of the people. Realising that Human development is a desideratum and sacrosanct in poverty reduction, the objectives of policies aimed at further strengthening the banking sector should be people focused.
Keywords: Deposit Money Banks, Human Development Index, Nigeria, Poverty Reduction, financial sector development
A STUDY ON THE IMPACT OF GOVERNMENT COMPLEXITY AND REGIONAL GOVERNMENT’S SIZE ON HUMAN DEVELOPMENT INDEX IN NORTH SUMATERA, INDONESIA (Published)
This study aims to determine the impact of the government complexity and regional government’s size on the human development index in North Sumatera province. This is an explanatory research survey. The variables used in the study are, namely; the government complexity, size of regional government and human development index. Meanwhile, the population involves all the 33 districts/cities in the North Sumatera with a sample taken from a period of 2005-2012 derived using the purposive sampling approach. In addition, The respondents of this study is on the government apparatus who represent the human development programs’ planners in several offices involved in the Tanjungbalai city and Asahan, South Labuhan Batu, North Labuhan Batu and Batubara districts with the number of 88 people selected as the sample using the purposive random sampling method. The returned questionnaires were 62 questionnaires. This study is a mixture of quantitative and qualitative studies. The result of the study has revealed that simultaneously and partially that the government complexity and the regional government’s size variables simultaneously affect the human development index in North Sumatera.
Keywords: Government Complexity, Human Development Index, Population Density and Regional Government’s Size, Purchasing Power Parity