Browsing by Author "Ajogbeje, K."

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Does Tourism Development Contribute to Human Development in Africa?
(Institute for Tourism (Zagreb, Croatia), 2017) Folarin, O.; Oladipupo, E.; Ajogbeje, K.; Adeniyi, O. A.
The literature has been awash with alternative explanations for structural and economic transformation in more recent years. Growth drivers are myriad in empirical depictions and enquiries into deeper causal relationships have preoccupied development discourse. Particularly, the contributory role of tourism development in job creation, thereby increasing the standard of living, national output, foreign exchange earnings and revenue to the government through taxation have been brought into sharper view by extant studies. To this end, the developmental gains arising from expansion of activities in the tourism industry has equally blossomed. This is particularly the case in Africa owing on one hand to the high influx of tourists into the continent as well as the relative size of tourism receipts to gross domestic product (GDP) for key continental destinations on the other hand. Hence, the central question is how has tourism development influenced overall economic development in the African context? To pursue this train of inquisition, this study examined the effect of tourism development on human capital development in Africa. Precisely, the study uncovered the role of tourism in influencing human capital development using data on a panel of twenty-five (25) African countries covering the period from 1998 to 2014. System General Moment Method (GMM) estimation techniques was deployed in the study in a requisite bid to account for endogeneity and unlike previous work human capital is decomposed into education and health to facilitate clearer understanding on the specificity of the impacts of tourism development in the economy. The study findings showed that tourism development vis-à-vis tourist arrival and tourism receipt had positive and significant effect on human capital development in Africa. This result is found to be robust to the choice of human capital indicator albeit with certain variations contingent on model specification. Thus, appropriate policies that will make the continent's tourist sites attractive to tourists need to be implemented.
Empirical Analysis of the Tourism-Terrorism Nexus: The Nigerian Experience
(Interdepartmental Program of Postgraduate Studies, 2017) Ajogbeje, K.; Folarin, O.; Oladipupo, E.; Adeniyi, O. A.
This paper examined the relationship among tourism, terrorism and broad economic aggregates. We made use of the impulse response and variance decomposition of the Vector Autoregression (VAR) on the Nigerian economy from 1995Q1 to 2012Q4. Besides the appropriate unit root and cointegration properties of the variables, the result revealed, that terrorism had negative effects on other variables of the study, especially tourism. Also, shocks in other variables are majorly caused by terrorism. The study also revealed that tourism responds positively to FDI, but its response to GDP and FDI are mixed overtime. Therefore, growth-promoting and other complimentary policies that will engender aggregate welfare improvement need to be pursued to ensure that the tourism sector sidestep the adverse consequences of terrorism.
The Effect of Terrorism on Tourism Development in Nigeria: A Note
(Sage Publication, 2017) Ajogbeje, K.; Adeniyi, O. A.; Folarin, O.
This article investigated the tourism–terrorism nexus in Nigeria using quarterly time series data within a vector autoregression analytical framework. Unlike extant studies, we gauge the influence of terrorism shocks on the tourism sector specifically on the one hand and broadly the response of some key macroeconomic variables on the other hand. Several interesting results ensued. To sum up these findings, we found a negative response of tourism revenues to terrorist incidents over the long haul as well as adverse effects on other key macroeconomic variables. Therefore, government policies to revamp the ailing economy should be complemented with well-tailored counterterrorism approaches for effectiveness.
The Effect of Terrorism on Tourism Development in Nigeria: A Note
(Sage Publication, 2017) Ajogbeje, K.; Adeniyi, O. A.; Folarin, O.
This article investigated the tourism–terrorism nexus in Nigeria using quarterly time series data within a vector autoregression analytical framework. Unlike extant studies, we gauge the influence of terrorism shocks on the tourism sector specifically on the one hand and broadly the response of some key macroeconomic variables on the other hand. Several interesting results ensued. To sum up these findings, we found a negative response of tourism revenues to terrorist incidents over the long haul as well as adverse effects on other key macroeconomic variables. Therefore, government policies to revamp the ailing economy should be complemented with well-tailored counterterrorism approaches for effectiveness.