Tax revenue collection or foreign borrowing: what fiscal tools enhance the educational development in Nigeria?

Nigeria’s educational system does not receive sufficient finances and nearly every new administration proposes greater levels of borrowing on the belief that they would enhance the economy, particularly human capital. The most important fiscal tools utilized in the Nigerian political arena to support education are tax revenue collection, foreign borrowing, and its interest component. This study aims to examine the impact of these fiscal tools on educational development in Nigeria. We use the multiple regression analysis of the data obtained from the Central Bank of Nigeria, Federal Inland Revenue Service, and World Bank Economic Development Indicators. The statistics ranging from 1990 to 2019 were analyzed using the Statistical Package for Social Sciences (SPSS). The correlation data shows that education has a substantial positive association with foreign liabilities and taxation income at the 1% level, but the relationship with debt servicing (interest rate) is negatively significant at the 1% level. Foreign debt, on the other hand, shows a substantial positive association with education and tax income at the 1% level but has an insignificant negative correlation with interest rate. Tax income has a substantial negative association with interest rates, but it also has a positive relationship with education and foreign loans. The findings of this study show that foreign debt and interest rates have had little impact on Nigeria’s educational system. The study result met the a priori expectation that tax revenue should impact positively on the development of education in Nigeria. As a result, the research recommends the prudent use of tax revenues while opposing foreign borrowing for political campaigns.

Borrowings in military terminology of the modern Vietnamese language

This article is dedicated to the analysis of techniques of external enrichment of terminology of the Vietnamese language. An attempt is made to examine the phenomenon of borrowing of foreign words in military terminology of the modern Vietnamese language. The author explores the factors of borrowing, carries out classification by origin and source of borrowing. The relevance of this work is defined by the need to systematize knowledge on the foreign borrowings in military terminology of Vietnamese language at the current stage of its development, rapid advancement of military science, new technologies, integration of Vietnam into the global community, and, thus, the emergence of vast foreign lexicon from Western languages, including in terminology. The novelty consists in systematization, generalization, and analysis of the methods of foreign borrowing in Vietnamese language and sectoral terminologies, particularly in military terminology. The conclusion is made that military terminology of Vietnamese language contains 80% of borrowings from foreign languages. According to the source of borrowing, foreign words are divided into two groups: of Sino origin (Hán Việt), and of Indo-European origin. The basis of borrowings is comprised of the terms of Hán Việt origin, which in have assimilated and currently are fully functional units of Vietnamese language. At the present stage, most of the words are borrowed from the English language; the majority of loanwords from European languages in Vietnamese language are attributes to semantic (word-forming and semantic calques). This method of borrowing often makes the terms too complex, difficult to remember and use. Borrowings from European languages, which currently infiltrate into Vietnamese language without changing their graphic form, are pronounced in accordance with the phonetic norms of Vietnamese language.

Post-pandemic recovery will be protracted in Peru

Significance Peru’s previously buoyant economy has been badly affected by the COVID-19 pandemic, contracting by around 13.38% in the first ten months of this year. Investment has been hit, as have employment and poverty levels. With a ballooning fiscal deficit, Peru is being forced to rely on foreign borrowing to cover much-needed public investment. Impacts Peru will remain credit-worthy over the medium term despite Fitch's outlook downgrade to negative yesterday. Political opposition to pro-business policies will gain force. Social recovery will be particularly slow to materialise.

From “Ōkuma Finance” to “Matsukata Finance,” 1873–1881

This chapter examines the transition from the expansionary policies of Ōkuma Shigenobu to the contractionary ones of Sano Tsunetami as background to the Matsukata reform, which in large measure ended up combining his predecessors' approaches. It shows the critical difference between the Ōkuma and Matsukata approaches to financial policy. Ōkuma sought to engineer a rapid currency reform using the proceeds from overseas bond issuance while applying the savings from austerity to continue the expansionary economic policies he had pursued as finance minister. The adoption of his new foreign-borrowing scheme in the summer of 1881 signaled a softening of official commitment to fiscal retrenchment. Matsukata intended to continue the Sano initiatives with the exception of borrowing abroad and founding a British-style central bank. Yet in practice he would diverge from much of the Sano austerity program in ways that differed from both classical and neoliberal orthodoxy.

The Measuring Economic Cost of Corruption: Empirical Evidence from Pakistan

Purpose- In this study economic cost of corruption in Pakistan has been measured. Pakistan has been facing the problem of corruption since its independency. According to transparency international United states of America Pakistan has been ranked 117 countries out of 180 in world in 2017. Method/Design- Secondary data has been collected from various sources such as Asian development bank and various issues of economic survey of Pakistan. In this study independent variable such as export, inflation and foreign borrowing impact on dependent variable corruption perception index has been analyzed.in this analysis OLS regression technique was applied in e-view 7. Findings- Foreign borrowing and export annual change is found to have significant impact on corruption but there is no significant impact of inflation on corruption perception index. Based on finding it is recommended that policy makers should develop effective policies in order to reduce the impact of corruption on economy.

RENEWAL OF LEGAL POLITICS OF INTERNATIONAL AGREEMENTS CONCERNING INDONESIA'S LOAN AGREEMENT TO ACHIEVE SUSTAINABLE DEVELOPMENT

<p><strong><em>The</em></strong><strong><em> government loan agreement is a tool or mechanism to generate capital, and as a source of national development financing as set forth in the RAPBN framework. However, it is practically reviewed that the status of the foreign loan agreement is inconsistent with existing laws and regulations, in particular Law No.24 of 2000 on the </em></strong><strong><em>International Agreement (Treaty)</em></strong><strong><em>. In the provisions of the law foreign borrowing is one aspect that is subject to the criteria as an international agreement, whereas in the implementation of the G to G government loan agreement tends to use the international private legal system. In addition, loan agreement clauses often do not accommodate the debtor country's interest in realizing sustainable development. Therefore, a legal political renewal related to the loan agreement is required to fulfill the legal certainty element and can accommodate the national interest.</em></strong><strong></strong></p>