Economic Growth and Inequality in Nigeria: Magnitudes and Challenges

Akpoilih, Roland; Farayibi, Adesoji

doi:10.2139/ssrn.2845346

Cited by 6 publications

(6 citation statements)

References 19 publications

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“…Therefore, investment in human capital is low, and if growth is enhanced by investment in human capital, growth is low too. Supporting this theory, Akpolih and Farayibi (2012) conducted an empirical study on the magnitude of inequality as a barrier to economic growth in Nigeria and show that inequality leads to slower growth through the level of savings and total investment in Nigeria. Redistribution increases total output and growth because it allows the poor to invest in human capital.…”

Section: Theoretical Framework and Empirical Evidencementioning

confidence: 97%

The Impact of Income Inequality on Economic Growth in Vietnam: An Empirical Analysis

Lê

Nguyễn

2019

Asian Economic and Financial Review

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This paper tests the theoretical models proposed in the literature to explain the impact of income inequality on economic growth at the provincial level in Vietnam. The results show a weak direct link between initial inequality and subsequent economic growth. However, income inequality affects economic growth through several channels. There is strong empirical support for the negative impact of inequality on growth via the education/fertility channel. The data also supports capital market imperfection. By contrast, there appears to be less empirical support for explanations based on the distribution channel. The results indicate that the channels through which income inequality leads to higher economic growth are offset by the opposing channels through which inequality harms growth. Based on the findings the paper proposes policy measures that could be implemented by the government to narrow the gap between the rich and the poor in Vietnam and ensure a fairer distribution of economic resources. Contribution/ Originality: This paper is one of few studies to have investigated the impact of income inequality on economic growth as well as the channels through which income inequality affects economic growth in Vietnam. The paper's primary contribution is finding that income inequality affects economic growth through the capital market imperfection and education/fertility channels.

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Section: Theoretical Framework and Empirical Evidencementioning

confidence: 97%

The Impact of Income Inequality on Economic Growth in Vietnam: An Empirical Analysis

Lê

Nguyễn

2019

Asian Economic and Financial Review

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“…It shows that inequality can prevent the deprived from maximally exploiting social, economic and political opportunities and cannot compete favourably with his contemporaries. Akpoilih and Farayibi (2012) observe that poverty in Nigeria is partly a function of unequal distribution of income, social infrastructure, education, skills and other socio-political and economic opportunities.…”

Section: Inequality (Rich-poor Gap) Factormentioning

confidence: 99%

“…Unequal distribution of economic opportunities could be systemic or ruminative. It is systemic when inequality results from institutional failure in the provision of equal opportunities for citizens (Akpoilih and Farayibi, 2012). It is ruminative when inequality thrives through the perpetuation tribalism and nepotism in defiance of the value of merit and hard work.…”

Section: Inequality (Rich-poor Gap) Factormentioning

confidence: 99%

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Stakeholder Relations Perspectives in Managing Nigeria’s Rising Crimes

Nwanmereni

2022

Rand. Inter. Social Sci. J.

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In today’s Nigerian society, crime represents a critical stakeholder. The unprecedented rise in crimes, such as, armed robbery, cultism, kidnapping, terrorism, banditry and cattle rustling has constrained the Nigerian government to introduce several crime fighting approaches. Despite government efforts, especially through State security forces, crimes have assumed a worsening dimension with increasing cases of attacks and abduction of villagers, worshippers, travellers and other settlers around Nigeria. Schools around the country are not spared, as both students and staff of different levels of educational institutions are kidnapped for ransom and sometimes killed by bandits and terrorists. Many Nigerian farmers have also been forced to abandon their farms due to incessant attacks. Not only are lives and property threatened, the Nigerian economy is also distressed by the impacts of insecurity on agriculture and the attendant hike in the prices of essential food commodities. Following the seeming inability of regular government crime fighting approaches to substantially deal with Nigeria’s rising insecurity, this paper examined the application of stakeholder relations perspectives to approach the country’s worsening insecurity. The qualitative paper combined Stakeholder and Relational Dialectics as theoretical cornerstone. It examined the impacts of some crime-yielding challenges, such as, illiteracy, unemployment, poverty, economic inequality and pseudo-social participation on the meteoric rise in crime in Nigeria. The paper recommended the application of dialogue in managing the rising militia activities and crimes. It was also recommended that beyond equipping State security formations, Nigerian government should direct attention to the conditions that breed crimes in the country.

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“…For instance, the studies focused on the relationships between demographic patterns, labour market characteristics and the level of income inequality in Nigeria (Omoruyi, 2015); economic growth in relation to gender inequality in the agricultural sector (Olanrewaju & Okoko, 2015); causal relationship between poverty and inequality in Nigeria (Ogbeide and Agu, (2015); the nature of employment women engage in (Gayawa & Adebayo, 2015); determinants of labour force participation in urban and rural areas (Iweagu, Yuni, Nwokolo & Anderiyangtso, 2015;Gayawa and Adebayo, 2015); wage differentials and industrial disputes in Nigerian hospitals (Kesinro, Ojo & Elueze, 2015). Others examined inequality and economic growth in Nigeria (Akpoilih & Farayibi, 2016;Ewubare & Ogbuagu, 2017) and determinants of wage differentials in the informal building construction (Adenugba, & Oderinde, 2019). It is therefore evident from the review of empirical studies that, hitherto, there are no documented previous studies on the effect of gender employment and wage disparities on labour productivity or output for Nigeria, either as direct linear or tripartite relationship.…”

Section: Review Of Empirical Studiesmentioning

confidence: 99%

Do Gender Employment and Wage Disparities Affect Labour Productivity in Nigeria?

Abaneme¹,

Okwu²,

Obiakor³

2021

CJSMS

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Labour productivity is a vital economic indicator that is closely linked to competitiveness, economic growth and living standard within an economy. It provides the general information about efficiency and quality of human capital in the production process. This study examined the effects of gender employment and wage disparities on sectoral labour productivity in Nigeria for the period 1991 to 2019, using error correction model (ECM). The results showed that the effects of gender employment and wage disparities on labour productivity differed in the sectors, both in the short-run and long-run. The finding remained valid even when the disparities were moderated with education. Therefore, the study concluded that the effects of gender disparities on productivity in the sectors were heterogeneous. Consequently, the paper emphasised the need for the Federal Government of Nigeria to implement female education-friendly policies. Also, there is the need for employers in the Nigeria productive sectors to jettison gender prejudice in their employment decisions so as to engender increased and sustainable labour productivity.

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Economic Growth and Inequality in Nigeria: Magnitudes and Challenges

Cited by 6 publications

References 19 publications

The Impact of Income Inequality on Economic Growth in Vietnam: An Empirical Analysis

The Impact of Income Inequality on Economic Growth in Vietnam: An Empirical Analysis

Stakeholder Relations Perspectives in Managing Nigeria’s Rising Crimes

Do Gender Employment and Wage Disparities Affect Labour Productivity in Nigeria?

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