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Table of Contents :
Editorial
Nnamdi O. Madichie5
This paper discussed the challenges in the formulation and implementation of consistent and effective trade policy, the institutional weaknesses compounding the lack of sufficient stakeholder consultation, lack of robust technical evidence base in developing the right mix and balance of trade and fiscal policy measures. All these were in the face of overwhelming political economy factors that were dominated by personal interests and political patronage. It was also clear that while the World Trade Organisation (WTO) may have allowed some limited measure of safeguard actions in clearly defined circumstances, neither technical nor public interest justification was evident in some instances of Nigeria’s trade policy implementation, hence the need for improvement in the policy process. It further considered the last 2002 Nigeria Trade Policy in the light of declining trade performance indicators and the worsening impact on transaction costs, the negative impact of the protection and restrictive practices on the infant industries, the competition and the consuming public. The main objective is to reform the trade making process, and in particular, propose a more robust evidence based policy making that is broader and more inclusive of other stakeholders. The key finding was that the current process bred instability and policy inconsistency, resulting in ineffective policy mix that hurt trade, the infant industries it set out to protect, and indeed the public interests.
Key Words: Political economy, trade policy, trade facilitation, fiscal policy, economic growth, Common External Tariff
The paper provides an empirical analysis of the effects of public spending on private consumption in Lesotho using the multivariate cointegration techniques for the period 1980-2010. The study finds that there is a positive and stable long-term relationship between government spending and private consumption in Lesotho, a result that supports the existence of crowding-in effect between public and private consumption. Therefore, the country seems to enjoy some degree of fiscal flexibility, which could be useful in stimulating private spending and economic growth, especially in times of economic recessions.
Keywords: Public spending, private consumption, fiscal policy, cointegration, Lesotho
This exploratory study pools together two complementary streams of literature – i.e. marketing and entrepreneurship, drawing upon a single case study of “Auntie Muni,” an informal woman-owned business in the food sector in Ghana’s East Legon area. In our estimation and based on our in-depth interview, Auntie Muni has braved all odds to remain in business despite all the harsh conditions facing her line of business. With a poor educational background, her resilience as a mother not just to her kids (but to most young people in the community, hence the name Auntie) and her optimistic outlook to life in general makes her a worthy case deserved of research attention. It also highlights some policy implications on the need of the government to recognise, reward and assist such informal ventures into more formalized ones. In the end we hope to have a holistic view of the entrepreneurial landscape of the food business (i.e. restaurants) in what we hope would become an assemblage of challenges and achievements for class and other scholarly discussions in Sub-Saharan Africa. This is with a view to teasing out areas where lessons might be learnt, and identifying other areas for further policy intervention as the continent muddles its way towards the 2015 deadline of the Millennium Development Goals (MDGs).
Keywords: Entrepreneurship, Informal sector, Small Business Marketing, Ghana
Examination of past literature suggests that sources of organizational legitimacy may vary among different institutional and cultural contexts. Further examination reveals that empirical studies on the subject have been carried out mainly in western environments. The study examines strategic conformity, corporate social responsibility and economic exchange as sources of normative legitimacy in the Nigerian telecommunications industry. The results reveal that economic exchange is a source of public endorsement, indicating that constituents may exchange endorsement of a firm for direct benefits. The study concludes that sources of normative legitimacy in the Nigerian telecommunications industry varies from those of the western context.
Keywords: Organizational Legitimacy, Strategic Conformity, Corporate Social Responsibility, Economic exchange, Proclivity for Price Cutting, Nigerian Telecommunications Industry
This study focused on the effect of telecommunication development on economic growth in leading ICT Developed countries for African region. Following previous studies, we used teledensity (or the penetration rate) defined as the number of fixed-line and mobile phone subscribers per 100 persons as a proxy to measure the development of the telecommunications sector in our study while, economic growth is proxied by Gross domestic product at current prices (US dollars). After ensuring data stationarity, the Granger causality test shows no causal relationship between mobile and fixed teledensity and economic growth. However, our OLS test confirms that telecommunication development in Africa has a positive and significant influence on economic growth.
Key words: Telecommunications, teledensity, foreign direct investment, Economic growth
The purpose of this paper is to highlight the duality in the appeal of UK higher education degrees vis-à-vis the poor perception of African degrees (notably the Nigerian degree). We relied upon an online focus group of African academics and professionals outside the UK, in a bid to provide deeper insights on the problems and reasons why Nigerian students opt to study overseas - notably in the UK. Key questions discussed with our respondents revolved around the allure of foreign (UK) education, the challenges of higher education infrastructure/ resources, employability concerns, and the growing security issues in the Nigerian higher education (HE) landscape. Finally we provide policy prescriptions in the light of recent developments in the UK HE sector – notably the “London Metropolitan University (i.e. LondonMet) saga,” - whose licence was recently revoked and immigrant visa powers stripped by the UK Borders Agency.
Keywords: Overseas study, UK higher education, International student market, Nigerian students
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