Version-1 (May-June 2015)
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| Paper Type | : | Research Paper |
| Title | : | Capital Inflows and Economic Growth A Comperative Study |
| Country | : | Nigeria |
| Authors | : | Chigbu, Ezeji E. (Ph.D) || Austin Ayodele Momodo || Ubah, Chijindu Promise || Chigbu, Uzoamaka S. |
Abstract: This study examines the impact of capital inflows on economic growth of developing* economies; the case of Nigeria Ghana and India from 1986-2012. This is necessitated by the doubts being raised as whether the huge inflows of foreign capita! in developing economies over the years have transmitted to real economic growth. Augmented Dickey Fuller unit root test was employed to evaluate the stationarity of the data, while Johansen Co-integration was used to estimate the long-run equilibrium relationship among the variables. The casual relationship was tested using Granger Causality, and Ordinary Least Square method was used to estimate the model. The finding reveals that capital inflows have significant impact on the economic growth of the three countries.
[1]. Adeniyi, O., Omisakin, O., Egwaikhide, F.O. and Oyinlola, A. (2012), "Foreign Direct Investment,
[2]. Economic Growth and Financial Sector Development in Small Open Developing Economies", Economic Analysis and Policy, Vol. 42 No. 1.
[3]. Aurangeb and Haq A. (2012), "Impact of Foreign Capital Inflows on Economic Growth in Pakistan", European Journal of Economics, Finance and Administrative Sciences ISSN 1450-2275 Issue 46. www.euroiournals.com/EJEFAS.htm.
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[6]. Chatterjee, S. and Turnosky S.J. (2005), " Foreign Aid and Economic Growth: The Role of Flexible Labour Supply": A Paper Presented at the Annual Conference of the Royal Economic Society in Swansea.
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| Paper Type | : | Research Paper |
| Title | : | A Study of Short-run Consumption Function and its Modification with Some Special Assumptions |
| Country | : | Bangladesh |
| Authors | : | Md. Rostam Ali || Md. Mostafizur Rahman |
Abstract: Consumption function shows the relationship between a nation's income and consumption and it is imperative in macroeconomics. The present study is causal in nature. The study is based on secondary data sources especially absolute income theory of consumption under the Keynes's short-run consumption function and psychological law of consumption. This paper is an endeavor to study the Keynes's short-run consumption function (SCFk) with some special assumptions that SCFk is misleading to formulate the macroeconomic policies. This study has developed a modified short-run consumption function (SCFm) with some special assumptions. The SCFm shows that total consumption is lower than the total consumption by SCFk. So, the saving derived from SCFm is higher than the saving derived from SCFk. This study constructs that under some special assumption, SCFm helps to calculate the exact amount of consumption, saving, investment to formulate macroeconomic policy (policies) properly which has great impact in macroeconomics. Keywords: Autonomous Consumption, Consumption, Consumption Function, Income, Saving, Short-run
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[2]. J. S. Duesenberry, (1949), Income, Saving and the Theory of Consumer Behavior. Cambridge: Harvard University Press.
[3]. Keynes, J. M. (1936), General Theory of Employment, Interest and Money, (New York: Harcourt, Brace and Co.), First Edition, p. 18-96.
[4]. Modigliani, (June 1966), The Life Cycle Hypothesis of Saving and the Demand of Wealth and Supply of capital, Social Research, Vol: 3, pp. 160-217.
[5]. Stonier, A.W. and Hague, D.C., (1972). A Textbook of Economic Theory, 4th Edition, Prentice Hall Press.
[6]. Friedman, M., (1957), A Theory of Consumption Function, National bureau economic research general series, Princeton University Press, Vol: 63, pp. 243-245.
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| Paper Type | : | Research Paper |
| Title | : | Challenges Facing Penetration of New Mobile Money Transfer Services In Nairobi |
| Country | : | Kenya |
| Authors | : | Joseph N. Nyaga || Dr. Kennedy Ogollah |
Abstract: The study sought to explore the challenges mobile network operators face in penetrating the Mobile Money Transfer (MMT) in Kenya which is dominated by one player. The study assumes that there are challenges and constraints that limit the involvement of competitive MMT services which are attributed to the internal and external environment of the Mobile Network Operator (MNO). The study is significant as it seeks to unearth knowledge and provide insight to competing firms to enter into the MMT services market which has been experiencing significant growth over the recent years.
[1]. Adam, J. &Kamuzora, F. (2008).Research Methods for Business and Social Studies. Mzumbe Book project, Morogoro
[2]. Adesina A.A. (2010).An Empirical Investigation of the Level of Users' Acceptance of E-Banking in Nigeria. Journal of Internet Banking and Commerce.3 (2), 56-61
[3]. Afanu, E. K. &Mamattah, R. S. (2013).Mobile Money Security: A Holistic Approach. Unpublished thesis. Master of Science in Information Security, Luleå University of Technology
[4]. Ainomaija, H. (2003). Product Differentiation: Does It Provide Competitive Advantage For A Printing Paper Company? Unpublished PhD dissertation. Helsinki University of Technology
[5]. Anyanzwa, J. (2013). More Kenyans using mobile money transfer than banks.http://www.standardmedia.co.ke/business/article/2000099737/more-kenyans-using-mobile-money-transfer-than-banks retrieved 9 May 2014
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| Paper Type | : | Research Paper |
| Title | : | The Impact of Cashless Policy on Small Scale Businesses in Ogoni Land of Rivers State, Nigeria |
| Country | : | Nigeria |
| Authors | : | Igbara, Felix N. || Emerenini, Fabian M. || Daasi, Gibson L.K. |
Abstract: The purpose of this paper is to examine the impact of cashless policy on small scale businesses. The study carried out in Ogoni of Rivers state, using the purposive sampling technique, 250 owners and operators of small scale businesses were selected and administered questionnaire. The data collected were coded and analyzed using frequency table and percentage, while regression analysis was used to test the formulated hypotheses using SPSS (Statistical Package for Social Sciences).
[1]. L.O. Udensi, F.N. Igbara, J.K. Paago, and E.O. Chieke, The Role of Craft and Artisan Cooperative Societies in the Socio-Economic Advancement of its members in Abia State, Nigeria, Mediterranean Journal of Social Sciences, 5(2), 2014,483-489.
[2]. G.L.K. Daasi, Traditional financial institutions and rural enterprises in Ogoni land of Rivers state. Unpublished seminar paper, Department of Economics, University of Uyo, Uyo – Nigeria, 2012.
[3]. E.E. Nelson, and I.E. Nelson, Micro-credit programmes and poverty alleviation in rural Nigeria: A case of Akwa Ibom State, International Journal of Economic Development Research and Investment, 1(2&3), 2010, 168-180.
[4]. A. Gboski, A. Joshua, and T. A. Stephen, The Role of "Susu" A Traditional Informal Banking System in the Development of Micro and Small Scale Enterprises (MSEs) in Ghana, International Business & Economic Research Journal, 6(14), 2007.
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| Paper Type | : | Research Paper |
| Title | : | Relative Potency of Internal and External Sources of Financing Nigerian Economic Growth: 1983-2012 |
| Country | : | Nigeria |
| Authors | : | Obalade, Adefemi A. || Obisesan, Oluwaseun. G. |
Abstract: The study is aimed at determining the relative potency of internal and external sources of financing economic growth in Nigeria using time series data from 1983 to 2012. Ordinary least square regression method, unit root test, Johansen cointegration test and error correction model were used for the purpose of analyses. Gross national saving, internal debt, grants and foreign investment are stationary at level, gross domestic investment at first difference and gross domestic product at second difference. From the over parameterized ECM, none of the internal and external financing options is significant in explaining economic growth. In the group of internal options, gross national saving, gross domestic investment and internal debt contribute positively to growth in the short and long run, the only exception being gross national saving in the short run. In the group of external options however, only grant contribute positively to growth in the long and short run. Foreign direct investment appears like a wolf in sheep's clothing given its long run negative impact.
[1]. Abiola, A. G., and Olofin, O. P. (2009). Foreign aid, food supply and poverty reduction in Nigeria - Examination of possible nexus. Munich Personal RePEc Archive, No 16263, 1-23 Available Online at http://mpra.ub.uni-muenchen.de/16263/
[2]. Abu, N. (2010). Saving-Economic Growth Nexus in Nigeria, 1970-2007: Granger Causality and Co-Integration Analyses. Review of Economic and Business Studies, 3(1), 93-104.
[3]. Adam, J. A. (2003). The Debt Servicing Capacity of Nigeria's Economy.
[4]. Adofu, I., and Abula, M. (2010). Domestic Debt and the Nigerian Economy. Current Research Journal of Economic Theory, 2(1): 22-26.
[5]. Ajayi, L. B., and Oke, M. O. (2012). Effect of External Debt on Economic Growth and Development of Nigeria. International Journal of Business and Social Science, 3(12), 297-304.
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| Paper Type | : | Research Paper |
| Title | : | Voluntary Disclosure, Ownership Structure, Information Asymmetry and Cost of Capital |
| Country | : | Indonesia |
| Authors | : | Bayu Dwi Nugroho || Bambang Subroto || Aulia Fuad Rahman |
Abstract: The aim of this study is at examining the influence of voluntary disclosure, information asymmetry and ownership structure towards the cost of capital method by employing WACC (Weighted Average Cost of Capital) method. The analysis method used in this research is the pathway analysis. The sample selection using purposive sampling generates 93 observations (31 companies *3 years) manufacturing company in 2011-2013. The results show that the extent of disclosures concerning the company's information will build investor confidence in the investment, so that the expected rate of return is low and as a result the company's incurred capital costs is low. The low rate of return is due to the disclosure of required information by the company's management which would establish investor confidence in the investment.
Keywords: Voluntary Disclosure, Information Asymmetry, Institutional Ownership, Managerial Ownership and Cost of Capital
[1]. Benardi, Meliana, K. Sutrisno dan Prihat, Assih. 2009. Factors that affect the Broad Disclosure and Its Implication to Information Asymmetry.SNA XII Palembang, 4-6 November 2009.
[2]. Botosan, C. 1997. "Disclosure Level and the Cost of Equity Capital", The Accounting Review, vol. 72 (3), hal. 323-349.
[3]. Brigham, Eugene. F. dan Houston, Joel, F. 2006. Fundamentals of Financial Management. Salemba Four edition 10. Jakarta.
[4]. Chakraborty. Atrya, Mark. Kazarosian, dan Emery. A. Trahan. 1999. "uncertainty in Executive Compensation an Capital Investment : A Panel I Study. "Journal Financial Management.
[5]. Clarkson, P., Guedes, J. And Thompson, R. 1996. "On The Diversification, Observability, and Measurement of Estimation Risk". Journal of Financial and Quantitative Analysis, vol. 31 (1), hal. 69-84.
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| Paper Type | : | Research Paper |
| Title | : | Responsible Tourism and Kerala Economy Special Reference to Kumarakom |
| Country | : | |
| Authors | : | Regeenamma Joseph |
Abstract: Tourism as an industry creates employment on a large scale. It has become an economic activity nowadays. The economic activity of tourism makes huge income to the government. The tourist arrivals from abroad help the government to earn foreign reserves. In 1976, the Tourism Society of England defined tourism as "the temporary, short-term movement of people to destinations outside the places where they usually live and work and their activities during the stay at each destination". Several communities and people travelling distant places to spend their leisure time. Tourism stimulates economic growth both national and local levels. We are living in a busy world. For reducing the stress of work......
[1]. Pranath Seth, Sushma Seth Bhat (1996),An introduction to travel and tourism
[2]. South Asian journal of socio-political studies –January –June 2015
[3]. South Asian journal of socio-political studies –January –June 2014
[4]. www.wikipeadia.org/responsible tourism.
[5]. www.wikipeadia.org/ tourism in Kerala.