Exports-Led Industrialisation and Development through National Re-Branding and Best Practices: A Comparative Study of Botswana and Zimbabwean Economies (Published)
The purpose of this study was to look at the challenges facing Zimbabwe’s economy compared to Botswana and determine re-branding strategies Zimbabwe can adopt to portray a positive image. Case studies of countries whose economies miraculously recovered were given, they include countries like Korea, China, Japan, Taiwan and Malaysia. Document reviews and in-depth literature review were used to collect data. The findings of the study revealed challenges related to policy issues, corruption, relations with western countries over the land reform programme, corporate governance issues, and macroeconomic fundamentals such as government spending priorities, the country’s credit rating, judicial independence, and property rights. These were some of the factors that contributed to the meltdown of the Zimbabwean economy. The study recommended that Zimbabwe needs to re-establish relations with the west, ensure independence of the judiciary system, ensure property rights to attract foreign investment, improve corporate governance issues, and monitor its macroeconomic fundamentals.
Keywords: Economic Development, Export Led Strategies, Re-Branding, economic growth
African Trading Blocs and Economic Growth: A Critical Review of the Literature (Published)
There is general consensus among scholars, policy makers, and political leaders that the best way for African countries to develop is through regional trade. Regional integration and trading blocs have been suggested as ways that African nations can use to achieve sustained development and increase their participation in the global economy. Therefore, there is a need to evaluate the interrelationship between African trading blocs and economic growth of the African continent. This paper analyzes this link using theoretical and empirical literature reviews. The key findings are that intra-Africa trade is still low, despite the existence of numerous trading blocs, and that few of these contribute to regional trade creation. Poverty rates are still high and GDP does not seem to be positively influenced by the trading blocs. Many social, economic, and political challenges also weaken African trading blocs and their ability to promote integration and trade. Addressing these hindrances would strengthen the continent’s trading blocs and enhance their positive impact on intra-African trade and economic growth.
Keywords: African Trading Blocs, International Trade, Regional Integration, economic growth
Effect of Public Investment on Economic Growth in Bangladesh: An Econometric Analysis (Published)
Public investment traditionally holds the main structure of any economy. We consider annual development programme (ADP) is the main proxy for public investment in Bangladesh and also consider the gross capital formation for more reliable results. The link among GDP, PI and GCF are analyzed by our regression model, Ordinary Least Squares (OLS) method was used in estimation and we apply different statistical tools in order to know different statistical properties such as, we have used Ramsey’s RESET test for finding model misspecification. We also used the Jarque-Bera test for normality, Breusch-Pagan-Godfrey and White test for heteroscedasticity, the Durbin-Watson d test and the Breusch- Godfrey Serial Correlation LM Test for correlation, and Likelihood Ratio and the Wald test as specification. The variables were subjected to different unit root tests (ADF, PP, and KPSS) to justify stationary status. Though variables were non-stationary, the cointegration test (Engle Granger, CRDW, Johansen test) was conducted for long-run equilibrium as well as we use different types of tests to find out more reliable results. In addition, we checked the Granger Causality. From our study, we have seen that PI has positive effects on GDP in Bangladesh. According to our result, there is a positive impact of public investment on economic development. Findings point out that keeping the high public investment level in Bangladesh together with improvement in institutional surroundings would be beneficial for economic growth
Keywords: Co-Integration Test, Jarque-Bera Test, Public Investment, Unit Root Test, economic growth
PUBLIC INVESTMENT STATUS IN BANGLADESH (Published)
This paper endeavors to formally establish a link between public investment and economic growth. Public investment is one of the key factors of economic development. It is often seen as important ingredient for economic growth in developing countries like Bangladesh. The main purpose of the study is to investigate the impact of public investment on economic growth in Bangladesh. I also examine the public investment of Bangladesh. We consider ADP is the main proxy for public investment in Bangladesh. We also consider the gross capital formation for more reliable results. In our country, ADP traditionally holds the central place in our national economic planning. ADP regularly promotes economic growth, ensures infrastructural development, reduces poverty and improves the environment. The link among GDP, PI and GCF are analyzed by our regression model. From our study, we have seen that PI has positive effects on GDP in Bangladesh. So, in the light of that result, increases in public investment should have a positive net impact on economic growth which augments our economic development in future. This thesis concludes with a number of policy recommendations arising from the research findings.
Keywords: ADP, GCF, GDP, Public Investment, economic growth
QUANTITATIVE ANALSIS OF THE IMPACT OF SMALL AND MEDIUM SCALE ENTERPRISES ON THE GROWTH OF NIGERIAN ECONOMY: (1993-2011). (Published)
This study is on the quantitative impact of Small and medium scale enterprises (SMEs) on Nigeria’s economic growth performance for the sample period 1993 to 2011. The econometric technique adopted for the study was multiple regression method based on ordinary least squares technique. However, in order to avoid the incidence of spurious estimates, evidence from the ADF test conducted revealed that the variables are integrated of order two,1(2). The Johansen test conducted showed evidence of long run equilibrium relationship between small and medium scale enterprises and economic growth. However, in the mean time, output of SMEs (SMEO) does not make any significant contribution to Nigeria’s economic growth performance. The study concludes that poor government policies, on tariffs and incentives, bribery and corruption, non-existent entrepreneurial development centers and poor state of infrastructure act as impediments to the growth and development of SMEs in Nigeria. The recommendations are that governments at all levels should endeavor to establish Microfinance institutions for easy access to credit by SMEs, introduce financial literacy in schools, establish entrepreneurial development centers for capacity building, provide enough infrastructure, especially electricity and road net work, and finally establish agencies for control of bribery and corruption.
Keywords: Bank credit, Inflation, Interest rates., Small and Medium Enterprises, economic growth
QUANTITATIVE ANALSIS OF THE IMPACT OF SMALL AND MEDIUM SCALE ENTERPRISES ON THE GROWTH OF NIGERIAN ECONOMY: (1993-2011). (Review Completed - Accepted)
This study is on the quantitative impact of Small and medium scale enterprises (SMEs) on Nigeria’s economic growth performance for the sample period 1993 to 2011. The econometric technique adopted for the study was multiple regression method based on ordinary least squares technique. However, in order to avoid the incidence of spurious estimates, evidence from the ADF test conducted revealed that the variables are integrated of order two,1(2). The Johansen test conducted showed evidence of long run equilibrium relationship between small and medium scale enterprises and economic growth. However, in the mean time, output of SMEs (SMEO) does not make any significant contribution to Nigeria’s economic growth performance. The study concludes that poor government policies, on tariffs and incentives, bribery and corruption, non-existent entrepreneurial development centers and poor state of infrastructure act as impediments to the growth and development of SMEs in Nigeria. The recommendations are that governments at all levels should endeavor to establish Microfinance institutions for easy access to credit by SMEs, introduce financial literacy in schools, establish entrepreneurial development centers for capacity building, provide enough infrastructure, especially electricity and road net work, and finally establish agencies for control of bribery and corruption.
Keywords: Bank credit, Inflation, Interest rates., Small and Medium Enterprises, economic growth