Does economic freedom enhance quality of life in Africa?

Okunlola, Olalekan Charles; Akinlo, Anthony Enisan

doi:10.1007/s12232-021-00372-2

Cited by 14 publications

(11 citation statements)

References 73 publications

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“…As part of our robustness checks, we, therefore, use households' consumption expenditure per capita (PCC) as a proxy for income poverty (see Adeleye et al, 2020; Odhiambo, 2009, 2010; Quartey, 2005). Okunlola and Akinlo (2021) used per capita consumption as a standard of living indicator. They argued that per capita consumption reflects the quality of life in an economy.…”

Section: Resultsmentioning

confidence: 99%

“…The two-step system GMM is used due to the optimal weighting matrices and estimation consistency of the covariance matrix. Rokicka (2014) has defined quality of life to mean "good life in terms of consumption" (Okunlola & Akinlo, 2021). As part of our robustness checks, we, therefore, use households' consumption expenditure per capita (PCC) as a proxy for income poverty (see Adeleye et al, 2020;Odhiambo, 2009Odhiambo, , 2010Quartey, 2005).…”

Section: Robustness Checkmentioning

confidence: 99%

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Poverty, entrepreneurship, and economic growth in Africa

Ajide

Dada

2023

Poverty & Public Policy

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Literature abounds on the impact of entrepreneurship on economic growth, but with little attention to the role of entrepreneurship in poverty reduction. Furthermore, little attention has been paid to the triangular relationship among poverty reduction, entrepreneurship, and growth in Africa. In this study, we examine the dynamic relationship among these three variables using data collected from 18 African countries. Data are sourced from World Bank development indicators and the World Bank's entrepreneurship database. The study uses batteries of panel data estimation techniques to analyze the data. The following findings emerged: (1) there is bidirectional causality between poverty reduction and growth. (2) There is bidirectional causality between growth and entrepreneurship in Africa. (3) There is unidirectional causality moving from entrepreneurship to poverty reduction. (4) Entrepreneurship significantly reduces poverty in Africa. (5) Impulse response shows that all the variables positively respond to shocks in each other. The study concludes that entrepreneurship enhances poverty reduction in Africa and has a significant impact on economic growth.

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Section: Resultsmentioning

confidence: 99%

Section: Robustness Checkmentioning

confidence: 99%

Poverty, entrepreneurship, and economic growth in Africa

Ajide

Dada

2023

Poverty & Public Policy

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“…En ese sentido, el libre mercado ha sido reconocido como un motor impulsor del comercio exterior que permite la libre circulación de bienes, servicios y capitales entre países (Rojas & Montoya, 2019). Al fomentar la competencia y eliminar barreras comerciales, se promueve la eficiencia económica y crecimiento (Okunlola & Akinlo, 2021).…”

Section: Construcción De La Política De Comercio Exteriorunclassified

Exploración del comercio global: una revisión integral del comercio internacional y el comercio exterior

Aranibar-Ramos,

Quispe-Ambrocio

2023

Quipukamayoc

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The cross-border exchange of goods, services, capital, and knowledge has emerged as a crucial driver of economic prosperity. Consequently, the objective of this work is to provide an overview of research trends in foreign and international trade, identifying thematic gaps and outlining areas for future research. To achieve this, a scientometric analysis and a systematic review of literature on the production of Scopus were carried out in the last five years. The findings revealed significant growth in current production, in which information was predominantly in English. Similarly, policy formulation requires a comprehensive approach, with a balance between free markets and protectionism, and an encouragement of participation in trade agreements and free trade agreements that drive multilateral and bilateral integration. Additionally, investments in infrastructure, logistics, and technological innovation, along with an understanding of socioeconomic, cultural, health, and environmental factors, allow for the improvement of connectivity and efficiency in international trade. Nonetheless, considering the environmental impact of trade, trends that aim to strike a balance between trade and environmental conservation, as well as addressing socioeconomic inequality, have emerged.

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“…Research has explored whether economic freedom affects economic growth (Heckelman, 2000; De Haan and Sturm, 2000; AlNajjar, 2002; Gwartney, 2009; Malanski and Povoa, 2021). Other studies consider foreign direct investment (Bengoa and Robles, 2003; Sambharya and Rasheed, 2015; Korle et al ., 2020), market volatility (Chen and Huang, 2009), exchange-traded fund returns (Peterson, 2013), trade flows (Seyoum and Ramirez, 2019), business cycles (Murphy, 2020) and quality of life (Okunlola and Akinlo, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

Does economic freedom fosters Islamic rural banks efficiency? Evidence from Indonesia

Masrizal

Sukmana

Fianto

et al. 2022

IJPPM

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PurposeThis paper aims to examine the relationship between economic freedom and Islamic rural banks' efficiency in the case of Indonesia.Design/methodology/approachThe study covers 40 Islamic rural banks in 34 Indonesian regions from 2014 to 2020. Tobit regression is utilized to expose the impact of economic freedom on the efficiency of Islamic rural banks, and nonparametric frontier data envelopment analysis is used to acquire banks' technical efficiency.FindingsThe findings reveal that overall economic freedom has a strong favorable impact on the efficiency of Islamic rural banks. The study’s breakdown components suggest that business freedom, government spending and investment freedom are favorable indicators, whereas government integrity and tax burden are negative indicators, and all indicators agree with previous studies.Practical implicationsThis research can serve as a guideline for Islamic rural bank management in terms of maintaining financial efficiency. The government should think about the ramifications of financial sector liberalization and reforms, according to these findings. When financial intermediaries operate in a less constrained environment, they are more likely to pursue competitive practices that increase their operating rate and other efficiency metrics. Finally, academics might utilize this information to investigate the economic flexibility of Islamic rural banks.Originality/valueThe novelty of this study is in using data envelopment analysis and Tobit regression to identify economic freedom and Islamic rural banks' efficiency. To the best of the authors' knowledge, the study of the role of economic freedom in Islamic rural bank's efficiency is limited, particularly in the context of Indonesia.

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Does economic freedom enhance quality of life in Africa?

Cited by 14 publications

References 73 publications

Poverty, entrepreneurship, and economic growth in Africa

Poverty, entrepreneurship, and economic growth in Africa

Exploración del comercio global: una revisión integral del comercio internacional y el comercio exterior

Does economic freedom fosters Islamic rural banks efficiency? Evidence from Indonesia

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