Sub‐Saharan Africa (SSA) has been receiving foreign aid for many decades; nonetheless, it ranked among the poorest regions in the world. This study revisits the aid effectiveness debate quantitatively by investigating the relationship among foreign aid, governance and economic growth in SSA using more recent data from 1996 to 2012 and testing for heterogeneity in aid recipient countries. Fundamental questions raised in this study are: does aid work the same way in all regions and group of countries in SSA? Do governance and size of aid matter? Employing the system generalized methods of moments (system GMM) technique, results show that foreign aid has an insignificant negative relationship with economic growth in aggregate SSA. However, one cap does not fit all in SSA as heterogeneity across aid recipients has implications for aid effectiveness. Moreover, governance and size of aid complement each other to improve growth in SSA. This study has been able to show quantitatively that a general policy for countries in SSA is not good enough for aid effectiveness; donors should increase the size of aid, and governance in recipient countries must improve. In conclusion, heterogeneity, governance and size of aid matter for aid effectiveness in SSA.
The problem of homelessness has been necessitated by several factors, including persistent population increases, inadequate housing, and uncontrolled urban growth pattern resulting in "homelessness" among the vast majority of urban dwellers. The need to ensure decent and affordable shelter to the people, particularly the urban poor, is therefore central to the achievement and improvement of both human living standards and societal development (Jiboye, 2011
Foreign aid strategies have undergone restructuring as donors adopt aid selectivity practice to improve aid effectiveness. This study investigates the impact of aid selectivity practice on aid effectiveness (aid-growth relationship) in Sub-Saharan Africa (SSA) and several groups of countries within SSA from 1980 to 2012. Employing system generalized methods of moments (system GMM) technique; the study produces strong evidence that there is significant improvement in aid effectiveness due to aid selectivity practice.
This paper investigates whether stock markets respond to disease pandemic referencing the case of COVID-19 in Nigeria. The paper employs three cointegrating regression models: Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares, and Canonical Cointegrating Regression to analyse the effect of growth in total COVID-19 confirmed cases and related deaths in Nigeria and across the globe from 27 February 2020 to 4 September 2020 on the stock market performance. Key findings support the presence of long-run association between stock market returns and COVID-19 in Nigeria. The stock market is found to respond negatively to both domestic and global growths in total confirmed cases and deaths of COVID-19. Consequently, affected businesses in Nigeria should be assisted and bailed out by the government through practices such as tax filing, subsidies, targeted spending, and credit.
This study investigated the effects of trade integration on economic growth and employment in West Africa from 2005 to 2019. Using a two-step panel GMM estimation technique, results showed that trade between West Africa member states and other SSA countries has more reinforcing growth propelling effect. That is, trade deepening between West African countries and other SSA countries has the tendency to boost growth more than when trade is just among the West African countries. Results also showed that although trade integration has not led to expansion in employment in the West African region, increased volume of trade among countries would foster more employment generation. The policy import of the study is threefold. First, when West Africa countries trade among themselves, the benefits of trade in enhancing economic growth and employment generation is small. Second, with trade between West Africa and other countries and regions in SSA, West Africa stands better chance of harnessing more growth and employment benefits from trade integration. Third, there is therefore the need for West Africa to key into the AfCFTA implementation as deeper trade within Africa has great potentials of fast-tracking growth and more employment generation for the region.
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