The 21st century will be Africa’s century of economic development. Incomes will be rising rapidly and Africa will become one of the main engines of economic progress in the world. For this to happen, markets must be liberalized and barriers to trade eliminated. Without hindrance, businesses should be able to source anywhere, manufacture anywhere, and sell anywhere. Free trade and free competition are essential if standards of living are to rise. Countries should realize that what is good fo...
The empirical debate on the role of international tourism on local economic growth isinconclusive and is characterized by two main opposing views: the Tourism-led economicgrowth hypothesis and the Economy-driven tourism growth hypothesis. The objective ofthe study was to establish the role of tourism development on economic growth using timeseries secondary data from Zimbabwe. Empirically, the study develops a tourism-growthmodel that is an extension of Solow (1956) neoclassical growth functi...
Abstract One of the most important and longstanding arguments in development literature is whether foreign aid promotes economic growth in recipient countries especially rural areas and it adds to the growing literature of foreign aid. Foreign aid aims to improve economic conditions and quality of life in developing countries. The literature on the efficacy of foreign aid to date has been inconclusive due to its debatable nature as to whether it promotes development or it aids to the destruct...
International trade has enormous impact on a country’s economic growth and development as a whole. Governments in every part of the globe pursue various economic policies aimed at improving trade and enhancing economic development. The trade balance is a major indicator in determining a country’s trade performance on the international market. An improved trade balance will improve a country’s current account balance and GDP as a whole and vice versa. Unfortunately, most of the econ...
ABSTRACT With the advent of globalization and regional economic integration across the globe, monetary and financial integration has become imperative in West Africa and this has led to the creation of a West African Monetary Zone (WAMZ). A major challenge for the introduction of a single currency within WAMZ countries has been the persistence instability in the balance of payments. The objective of the study is to analyse the monetary approach to the balance of payments (MABP) in the West Af...
Introduction In an age of intersecting revolutions - military, political, economic, social - as we have in Africa today, the problems of maintaining peace and international order, inevitably become more complex. Yearly, events in Africa stress the urgent need for African states to intervene in African affairs. The acquisition of sophisticated and unlimited force by African nations is certainly as terrifying as it is new. But it must be borne in mind that this transforms conflicts rather than ...
Abstract During the last decades, cities in sub-saharan Africa have undergone rapid urban growth due to increased population growth and high economic activities. This research explores the impacts of varying modelling settings including spatial extend and its location for the city of Nairobi using a cellular automata (CA) urban growth model (UGM). Our UGM used multi-temporal satellite-based data for classification of urban land-use of 1986, 2000 and 2010, road data, slope data and exclusion ...
ABSTRACT The East African Community has recorded rising and persistent current account balance in the last ten years. The countries namely, Kenya, Uganda, Tanzania, Burundi, and Rwanda have maintained current account deficits which were above five percent of their Gross Domestic Product. This trend has raised the concerns among economists and trade experts regarding the sustainability of the imbalances and the measures of alleviating them. If not addressed, the deficits may erode the bloc’...
ABSTRACT The issue of economic growth has become a great concern for many economies. The growth of economies has been attributed to many factors. To contribute to this subject, the study investigated the impact of foreign direct investment (FDI) on economic growth using evidence from Ghana. It went further to determine which FDI impacted sector has a significant effect on economic growth. Using time series data spanning from 1980 to 2012, Autoregressive Distributed Lagged model (ARDL) is empl...
ABSTRACT The term unemployment can be defined as an economic condition marked by the fact that individuals actively seeking jobs remain unemployed. Unemployment is expressed as a percentage of the total available work force not working. The rate of unemployment varies with economics conditions and other circumstances. Unemployment is frequently seen in graduates of big institutions of learning most especially in under developed nations such as Nigeria. The study was formed to investigate the...
ABSTRACT This research report set out to establish the relationship between Tax Rates and economic growth (measured by GDP) in Uganda (2000-2010). The objectives of the study were; to establish the trend of Tax Rates in Uganda(2000-2010), to establish the trend of GDP growth rate of Uganda(2000-20 10) ,to investigate the relationship between Tax Rates and GDP growth in Uganda (2000-20 10). The study employed time series analysis such Correlation analysis, regression analysis mechanisms. The ...
Abstract This study examines the effect of stock market on economic growth in Nigeria.Ordinary least squares regression (OLS) was employed using the data from 1989 to 2008. The results indicated that there is a positive relationship between economic growth and all the stock market development variables used. With 99 percent R-squared and 98 percent adjusted R-squared, the result showed that economic growth in Nigeria is adequately explained by the model for the period between 1989 and 2008. B...
INTRODUCTION At the dawn of the 21st century, Nigeria, only recently restored to democratic rule, had a promising economic outlook for the ensuing decade. After several years of sanctions stemming from the political misadventures of the Abacha regime, the international business community was ready to welcome her 150 million plus market back into the global economy. Crude oil prices, a critical benchmark of her economy, were steadily inching up from the low of $10 recorded in the latter part...
BACKGROUND TO THE STUDY The sole prerogative of most governments in sub-Sahara Africa is to improve their economies and become examples of efficient, economic and social management implementers on the continent. Since transportation is an important component of the much desired economic development contributor, African governments have resorted to improving road networks in their countries. Politicians, engineers, planners and policy makers have major task of formulating and implementing th...
1.1 Background Migration as a phenomenon has been in existence since human existence, either for survival or exploration. It is a global phenomenon that is increasingly shaping developmental processes in our ever globalising world and touches on a multiplicity of economic, social and security aspects affecting our daily lives (Blinder and McNeil, 2017). Migration covers a wide array of movements and situations which involves people of all backgrounds; it could be internal or international, ru...