Entries on Development Economics
Leadership, Policy and Economic Development in Nigeria and Singapore: a Comparative (1960 - 1990) is a sweeping comparison of Nigeria and Singapore on their economic development performances. It further critically assesses how leaderships in the two countries were able to influence these performances through their economic policies and developmental efforts. Particular emphasis is placed on between 1960 and 1990; although post 1990 is briefly captured but strictly on economic policies and performances of successive governments. This book elementrifies foundational reasons why the two countries have divergent economic development statistics despite starting with homologous economic statistics in the 1960s, with cross-national opportunities and constraints. It reveals how the two different and newly independent countries in the 60s followed different paths toward nation building. The correlations between leadership, economic policymaking and implementation, and economic development are established. The period of 1960 to 1990 played key, formative roles in the both countries’ economic development narratives. Within the three decades, Singapore was transformed from a third to first world country while Nigeria was caught up with International Monetary Fund’s Structural Adjustment Program. This Comparative Study captures cross-national differences and finds out lessons Nigeria can learn from Singapore in pursuing an inclusive and sustainable economic development. This book is a fitting primary source for students, scholars and researchers of development studies, public policy, development economics, leadership, governance and regional development.
In the last few years, there has been a lot of concern and debate, not only among policy makers, but also within the academia and the public at large, regarding the attainment of the Millennium Development Goals (MDGs) in Nigeria. This has led to the initiation of various reforms, beginning with the banking sector reforms, introduced towards the end of 2004, all aimed at creating a favorable environment for meeting the objectives of the MDGs. The present book of readings addresses some of these reforms and represents a contribution by our Department of Economics to the ongoing discussion. While the range of reforms advocated here is not exhaustive, it nevertheless emphasises once again the well known fact that there are also non-economic factors involved in economic development. In this regard, it must be pointed out that the sectors of the economy considered in the volume include, not only the purely economic ones like banking and finance, insurance, etc. but also the political and sociological areas such as corruption and the harmful effects of widowhood rites. It must also be noted that the recommendations emphasize that reforms are needed at all levels, including the public and private sectors of the economy, as well as the individual level. I commend the efforts of our Department of Economics, the editors and the contributors to this volume. The book deserves a most enthusiastic welcome by all (policy makers, the academia and the general public) who are working towards or looking forward to the attainment of the MDGs in Nigeria.
ABSTRACT The federal and state governments of Nigeria suffer from many fiscal imbalances including a long history of fiscal deficits and unsustainable fiscal policy in the economy. Hence, this paper examines the sustainability of the federal and state fiscal deficits from 1960-2013, using the Gregory-Hansen co-integration test and the Zivot-Andrews unit root test, which allow for structural break. In this connection, the results indicate that the federal fiscal deficit is weakly sustainable while that of the state governments is unsustainable. It is therefore recommended that both the federal and state governments should consolidate their fiscal operations by rationalizing their expenditures and augment their revenue sources. Specifically, the governments should meaningfully cut their expenditures by blocking all fiscal leakages, reducing the cost of governance through cuts in the pays of political office holders and scrapping unnecessary offices. The governments should also diversify their revenue sources and resuscitate highly competitive public enterprises. Keywords: Fiscal sustainability; Debt; Fiscal deficits; Structural break; Nigeria JEL classification: E62; H72; H710
This study examines the nature of railway and their policies in Nigeria and Japan with a focus on finding out the factors that have hindered successful policy implementation in the Nigerian railway sectors and how these processes have affected national development. It has the objective of finding out the strategies that enabled success of the Japanese railways and how these strategies can be applied in Nigeria to rescue the current dilapidated railway sector. The researcher used primary and secondary methods of data collection to gather the needed data. The data obtained through questionnaires were presented in tables and analyzed using the simple percentage. The findings have also shown that factors which militate against successful policy implementation in Nigeria include lack of continuity and multiplicity of policy by different administrations in Nigeria, inadequate resources, non involvement of the local people in policy implementation and corruption. It also discovered that the low level of implementation has been responsible for the low level of development in Nigeria and that the success of the Japanese railway system is as a result of the strategic restructuring of the system in 1986 and that this has been responsible for the country`s high level of development. The researcher therefore recommended that for policies to be successfully implemented in Nigeria, there must be a political will by government, local people must be involved, resources must be adequately mobilized and corruption should be strictly avoided. Others include policy restructure and privatization of the rail sector, decentralization of railways into regional or state based, separation of passengers and freight railways etc. And that the money realized from the sectors should be deployed in developing other sectors. These ensure efficiency of the implementation process of policies and that of the railway system and consequently enhancing national development.
For effective and efficient implementation of innovation strategy announced in the Europe 2020 flagship initiative of innovation union; a forceful request for innovation processes and techniques should be revalued both at the European Union (EU) level and at the member states as this will entails a smart and single application of the primary market with its means of advocating and sustaining on a high demanding side.
Religious riots are insurrections that are motivated by religious connotations. Human beings in their search for the known and unknown have shown themselves as higher animals by being religious, moderately or fanatically.