Investment expenditure is a major component of aggregate macroeconomic variables in any economy, irrespective of the development status. This article employed relevant econometric methodology on panel data environment to analyze the effects of foreign direct investment (FDI) inflows on economic growth of 30 leading global economies during the period between 1998 and 2017. Other variables considered in the analysis were domestic credit to private sector (DCPS), gross fixed capital formation (GFCF), inflation–consumer prices index (INFPC), trade openness (TOPNESS), and youth unemployment (UEMPYT). The results showed mixed growth effects of the variables in general. Specifically, FDI exerted positive and significant effect on economic growth of the countries during the period. Therefore, this article concluded that FDI inflows enhanced economic growth and emphasized the need to foster more FDI-attracting policies as well as adequate GFCF to complement FDIs for sustainable economic growth potentials. JEL Classification: C23, C33, C51, F21, F43, O47.

This study has investigated the effects of leadership style on organizational performance in small scale enterprises. The major objective was to determine effect of leadership styles on performance in small scale enterprises. Transformational and transactional leadership styles were considered in this study. Transformational leadership behaviours and performance/outcome considered relevant in the study were charisma, inspirational motivation and intellectual stimulation/individual consideration; and effectiveness, extra effort and satisfaction, respectively. Transactional leadership bahaviours and performance/outcome variables were constructive/contingent reward and corrective/management by exception; and effort, productivity and loyalty/commitment, respectively. The study followed a survey design, and employed evaluative quantitative analysis method. Analysis was based on primary data generated through a structured Multifactor Leadership Questionnaire (MLQ) administered on respondents. Responses to research statements were scaled and converted to quantitative data via code manual developed for the study to enable segmentation of the data responses into dependent and independent variables based on leadership behaviours and associated performance variables. OLS multiple regression models were specified, estimated and evaluated. The result showed that while transactional leadership style had significant positive effect on performance, transformational leadership style had positive but insignificant effect on performance. The study concluded that transactional leadership style was more appropriate in inducing performance in small scale enterprises than transformational leadership style and, therefore, recommended transactional leadership style for the small enterprises with inbuilt strategies for transition to transformational leadership style as the enterprises developed, grew and matured.

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Premised on the World Bank’s projection of a 20% fall in global remittances due to the effect of the COVID-19 pandemic, there have been concerns that remittance-dependent countries may be excessively affected. In this study, we explore the link between remittance, remittance volatility and macroeconomic performance to make a case for the potential impact of the COVID-19 pandemic. Specifically, the study examined the impact of remittance volatility on some macroeconomic variables [real gross domestic product (RGDP), consumption, investment, export and exchange rate] in a panel of seven African countries with the highest remittance–GDP ratio. This was done within a fixed effects and random effects model, using annual secondary data from 2004 to 2018. Our results show that remittance volatility exerts a negative but insignificant impact on RGDP, consumption, investment, export and exchange rate; while remittances itself has positive significant impact on RGDP, consumption and investment. Based on these findings, while any COVID-19-induced volatility in remittances flow into Africa may yield negative macroeconomic consequences, it is not likely to significantly affect the macroeconomic fundamentals of the most remittance-dependent African countries due to strong kinsmanship and the altruistic nature of remitting African migrants.

Housing is considered as one of the cardinal measures of the state of an economy. This paper employed data-based evidence to explore housing sector-economic growth relationship in Nigeria during 1980-2015. Choice variables were real estate business services (REBS), building construction investments (BCI), property rights index (PRI) and human labor (L) engaged in the sector. Anchored on perceived interactions among the variables, articulated conceptual model preceded an analytic model modifi ed from the endogenous growth model of economic theory. Graphical and econometric techniques were employed to analyze the data sets on the variables for trends in time series values of the variables; and the effects of the housing sector variables on growth of the economy. The results showed that housing services delivery had long-run relationship and signifi cantly spurred growth of the economy. Further, housing services delivery and growth of the economy had high speed adjustment coeffi cient to long-run equilibrium growth path under stable structural housing sector services delivery and appropriate human labor mix participation. Therefore, the paper concluded that housing services enhanced growth of the economy, and emphasized the need for appropriate human, capital and fi nancial policies for the sector to engender sustainable growth and development of the Nigerian economy.