scholarly journals Economic Development, Foreign Aid and Poverty Reduction: Paradigm in Nigeria

2019 ◽  
Vol 3 (4) ◽  
pp. 5-12
Author(s):  
Malachy AUgbaka ◽  
Abayomi Awujola ◽  
Tatiana Shcherbyna
Keyword(s):  
Economic Development ◽  
Foreign Aid ◽  
Structural Adjustment ◽  
Poverty Reduction ◽  
Government Expenditure ◽  
Developed Countries ◽  
Capital Formation ◽  
Direct Production ◽  
Per Capita ◽  
The Government

Foreign aid supplements internal resources required for economic development and growth in less developed countries (LDCs). Foreign inflows have bolstered a number of economic recuperation, reconstruction efforts and structural adjustment programs organized to haul the Africa economy out of a precarious decay. Discussions of foreign aid have concentrated on Africa since it has gotten the best measure of help on per capita premise than some other area; yet economic performance has been the weakest. In any case, economic development, foreign aid and poverty reduction has not enjoyed such interest in literature as it is ordinarily subsumed. This paper tries to build up a model between economic development, foreign aid and poverty reduction and decide if there is even a nexus between these three ideas by analyzing data from Nigeria. Utilized time series secondary data from World Development Indicators (WDI) mulling over Nigeria for the period which data were accessible. The study went on to perform correlation and regression analysis using GNP per capita as proxy for economic development as the dependent variable and poverty headcount(proxy for poverty reduction), gross capital formation, foreign aid, GDP per capita growth, inflation rate and growth of government expenditure as independent variables. It was observed that only gross capital formation have statistically significant relationship with GNP per capita while growth of government expenditure has the effect on GNP per capita. The results reveal that there is a positive relationship between economic development, foreign aid and poverty reduction. This implies foreign aid promotes economic development and poverty elimination. The government has a responsibility to battle against poverty and its efforts at predictable strategic economic development are significant in poverty reduction by spending the aid money for direct production programs. Keywords: foreign aid, economic development, poverty reduction.

Challenges of accountability and development in Nigeria

2020 ◽  
Vol 23 (2) ◽  
pp. 387-402
Author(s):  
Oluwatoyin Augustina Matthew ◽  
Abiola Ayopo Babajide ◽  
Romanus Osabohien ◽  
Anthonia Adeniji ◽  
Olabanji Olukayode Ewetan ◽  
...  
Keyword(s):  
Economic Development ◽  
Developmental Process ◽  
Government Expenditure ◽  
Secondary Data ◽  
Developed Countries ◽  
Economic Activities ◽  
Content Type ◽  
Distributed Lag ◽  
Nigerian Government ◽  
The Government

Purpose The purpose of this paper is to examine the challenges of accountability and development in Nigeria. In the literature, corruption is seen as an indicator of a lack of political accountability in most countries of the world, especially in less developed countries such as Nigeria. The Nigerian Government has taken several actions to address the problems of bad governance and corruption that have impeded economic development, but unfortunately these measures have not yielded the desired results. Design/methodology/approach Thus, this study examined accountability and developmental issues in Nigeria using secondary data and then made use of the auto-regressive distributed lag econometric technique to analyze the data. Findings The results from the study found that a rise in total government expenditure poses a danger of reducing Nigeria’s economic development in the long run and that control of corruption and political (the institutional variables) has a direct and significant effect on Nigeria’s economic development. Originality/value Therefore, upon these findings, this paper recommended that for Nigeria to experience development, corruption should be eliminated, and the Nigerian Government should spend on viable projects and economic activities that will be beneficial to the populace and the society at large and hence bring about economic development. Accountability is the hallmark of a prudent government that ensures efficient management of resources and transparency in the utilization of funds by the government. The absence of accountability mechanism allows corruption to thrive, which hinders the developmental process.

Foreign Trade Regimes and Economic Development: India. By Jagdish N. Bhagwati and T.N. Sirinivasan. New York Columbia University Press (Published by the National Bureau of Economic Research 1975) 261 pages.

1977 ◽  
Vol 16 (1) ◽  
pp. 112-114
Author(s):  
Abdur Razzaq Shahid
Keyword(s):  
New York ◽  
Economic Development ◽  
Foreign Trade ◽  
Developed Countries ◽  
Exchange Rate Policy ◽  
Economic Research ◽  
National Bureau ◽  
Columbia University ◽  
The Government ◽  
Exchange Control

This volume on India is one of a series of research projects on exchange control, liberalization, and economic development, undertaken for many less developed countries. The study deals with three major topics: exchange control, liberalization, and growth. First, under 'The Anatomy of Exchange Control', the methods of allocation and intervention in the foreign trade and payments practised by the government during the restrictive period 1956-66 and their economic impact are discussed. Then, a detailed analysis of the 'Liberalization Episode' which covers the policies in the period 1966-68, including the June 1966 devaluation, and the episode's effect on price level, economic activity, and exports is given. Finally, the overall growth effects of the foreign trade regime (broadly defined as exchange rate policy plus the frame-work of relevant domestic policies such as industrial licensing), and their possible contribution to India's rather unsatisfactory economic performance are examined.

Chile: Christian Democracy to Marxism

1971 ◽  
Vol 33 (3) ◽  
pp. 323-341
Author(s):  
Michael J. Francis ◽  
Hernan Vera-Godoy
Keyword(s):  
United States ◽  
Latin America ◽  
Foreign Aid ◽  
Presidential Election ◽  
Political System ◽  
Christian Democracy ◽  
The World ◽  
Per Capita ◽  
The Government ◽  
Basic Alternative

Increasingly alone as a stable republican nation in Latin America, Chile has long been a favorite subject for North American scholars and journalists. Every six years, as it faces a presidential election, the world press breathlessly rediscovers that this long slim country confronts its public problems within the framework of a developed, democratic political system. When in 1964 Chile placed a young idealistic party in power behind Eduardo Frei, an unquestionably intelligent figure of austere but charismatic bearing, this country became a favorite model for the advocates of democratic reformism in Latin America and soon was receiving the highest United States foreign aid per capita in Latin America. Thus it came as a shock that the Chilean electorate could turn its back on Frei's administration in 1970 by favoring the rightist and Marxist candidates. For those who saw in the government of Frei a basic alternative to Marxist models for Latin America, the free election of an avowed Marxist as the President of Chile presents additional problems.

scholarly journals Foreign Economic Development: The Need and How Well It Is Being Met

1970 ◽  
Vol 2 (1) ◽  
pp. 53-59
Author(s):  
Ralph K. Davidson
Keyword(s):  
Quality Of Life ◽  
Economic Development ◽  
Gross National Product ◽  
Well Being ◽  
Developed Countries ◽  
Land Area ◽  
The People ◽  
Per Capita ◽  
Ultimate Objective

Today, the need for economic development is self-evident to the millions of people in Asia, Africa and Latin America who suffer from malnutrition, are ill-housed, poorly educated, and either unemployed or grossly underemployed. The ultimate objective of economic development is to raise the standard of life – the quality of life - for the mass of the people, to widen their area of choice, to open up new opportunities for human well-being. The less developed countries have two-thirds of the 3.5 billion people but receive only 12.5 percent of the world's gross national product. Life appears to be an economic treadmill with the future blighted by an excessive rate of population growth for millions of people. India provides a good illustration of the problem. With an estimated population of 525 million at mid-1968, India had 15 percent of the world's population, 2.4 percent of the world's land area, hardly 2 percent of the world's income, and an annual per capita income level of around $75.

scholarly journals Using fuzzy logic for evaluating the level of countries’ (regions’) economic development

2012 ◽  
Vol 59 (3) ◽  
pp. 293-310 ◽  
Author(s):  
Gordan Stojic
Keyword(s):  
Mathematical Model ◽  
Economic Development ◽  
Fuzzy Logic ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Industrial Growth ◽  
The Poor ◽  
The World ◽  
Level Of Economic Development ◽  
Per Capita

There are several divisions of countries and regions in the world. Besides geo-political divisions, there also are economic divisions. The most common economic division is the that on developed countries and the poor ones. These divisions are a consequence of the level of: GDP, GDP per capita, unemployment rate, industrial growth, and so on. The question is how to define a mathematical model based on which the following will be assessed: who is rich and who is poor, or who is economically developed and who is not? How the boundaries of transition from one category to another can be defined? This paper presents a model for evaluating the level of economic development of countries and regions using "fuzzy" logic. The model was tested on a sample of 19 EU member countries and aspirants for membership.

scholarly journals AID AND GROWTH IN BANGLADESH: A REASSESSMENT

2018 ◽  
pp. 422-440
Author(s):  
Sharif Hossain ◽  
Rajarshi Mitra ◽  
Thasinul Abedin
Keyword(s):  
Economic Growth ◽  
Foreign Aid ◽  
Inflation Rate ◽  
Government Expenditure ◽  
Real Income ◽  
Domestic Investment ◽  
Real Gdp ◽  
Long Run ◽  
Short Run ◽  
Per Capita

Although the amount of foreign aid received by Bangladesh as a share of GDP has declined over the years, Bangladesh remains one of the heavily aiddependent countries in Asia. The results of most empirical studies that have examined the effectiveness of foreign aid or other forms of development assistance for economic growth have varied considerably depending on the econometric methodology used and the period of study. As the debate and controversy over aid-effectiveness for economic growth continue to grow, this paper reinvestigates the short-run and long-run effects of foreign aid received on percapita real income of Bangladesh over the period 1972–2015. A vector error correction model is estimated. The results indicate lack of any significant short-run and long-run relation between foreign aid and per-capita real income. Results further indicate short-run unidirectional causalities from per-capita real GDP to domestic investment (in proportion to GDP), from government expenditure (in proportion to GDP) to inflation rate, from inflation rate to domestic investment (in proportion to GDP), and from domestic investment to foreign aid (as percentages of GDP). Short-run bidirectional causality is observed between per-capita electricity consumption and per-capita real GDP, and between per-capita real GDP and government expenditure (in proportion to GDP).

scholarly journals Foreign Aid in Nepal

2018 ◽  
pp. 71-76
Author(s):  
Kiran Bahadur Pandey
Keyword(s):  
Economic Development ◽  
Foreign Aid ◽  
Developed Countries ◽  
Domestic Investment ◽  
Least Developed Countries ◽  
Capital Goods ◽  
Economic Journal

Foreign aid is essential for least developed countries like Nepal because these countries have the shortage of fund to meet their domestic investment for accelerating economic development and also to finance the import of essential capital goods required for the development. Nepal receives foreign aid from bilateral and multilateral sources. Following a descriptive approaches this paper analyses the trend of foreign did flow in Nepal from aggregative perspective. Economic Journal of Development Issues Vol. 23&24 No. 1-2, (2017) Combined Issue, Page : 71-76

The State, Private Sector Development, and Ghana's “Golden Age of Business”

2006 ◽  
Vol 49 (1) ◽  
pp. 31-50 ◽  
Author(s):  
Peter Arthur
Keyword(s):  
Economic Development ◽  
Private Sector ◽  
Development Strategy ◽  
Golden Age ◽  
Structural Adjustment ◽  
Investment Climate ◽  
Private Sector Development ◽  
Effective Implementation ◽  
Adjustment Program ◽  
The Government

Abstract:The promotion of the private sector has become an integral part of Ghana's economic development strategy since it embarked on its structural adjustment program (SAP) in 1983. Private sector development, which involves the improvement of the investment climate and the enhancing of basic service delivery, is considered one of the necessary factors for sustaining and expanding businesses, stimulating economic growth, and reducing poverty. This article examines the policies of Ghana's New Patriotic Party (NPP) government and its strategies for making the private sector the bedrock of economic development and for achieving what it calls the “Golden Age of Business.” It argues that while the policies and initiatives being pursued have the potential to help in the development of the private sector in Ghana, the government has to play a more central role in this process, not only by creating the enabling environment for private businesses, but also by providing business with support and protection. While the “Golden Age of Business” is a neoliberal concept, its effective implementation requires a robust statist input.

ICTs and Coordination for Poverty Alleviation

2013 ◽  
pp. 165-189
Keyword(s):  
Developing Countries ◽  
Poverty Alleviation ◽  
Poverty Reduction ◽  
Statistical Tests ◽  
Developed Countries ◽  
Literacy Rate ◽  
The Third ◽  
Internet Users ◽  
Per Capita ◽  
Use Of Internet

In recent decades, calls for poverty alleviation have increased significantly in both developed and developing countries. Relatively, ICTs have been viewed as offering helpful tools for poverty reduction. This chapter investigates access to ICTs in the context of poverty, in both developed and developing countries. Based on a sample of 40 countries (20 developing and 20 developed countries), several statistical tests have been performed with promising results obtained. It is first shown that people in developing countries have less access to ICTs relative to those in developed countries. Second, it is also proven that the use of Internet is positively affected by the literacy rate within a country. The higher the literacy rate, the higher the number of Internet users in a country. The third result conveys that countries with higher GDP per capita ensure higher access to ICTs for their populations. Finally, this chapter proposes that populations of countries with higher poverty rates have less access to ICTs.

The relationship among tourism, poverty, and economic development in developing countries

2016 ◽  
Vol 22 (6) ◽  
pp. 1174-1190 ◽  
Author(s):  
Namhyun Kim ◽  
HakJun Song ◽  
Ju Hyun Pyun
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Developed Countries ◽  
Tourism Industry ◽  
Least Developed Countries ◽  
Income Per Capita ◽  
International Dollar ◽  
Heterogeneous Effects ◽  
Per Capita ◽  
The Relationship

This study investigates the relationship among tourism, poverty, and economic development in developing countries. The empirical model is set up using unbalanced panel observations for 69 developing countries for the period 1995–2012. The findings show that tourism has heterogeneous effects on the poverty ratio in terms of a country’s income per capita: the positive effect of tourism on poverty alleviation switches to being negative after a certain threshold of a country’s income level. The results of this study indicate that only the least developed countries (those with an income per capita below international dollar 3400) have benefited from the tourism industry in terms of reducing their poverty ratios.

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