Browsing by Author "Bankole, A. S."

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Adult education, Islam, and socio-economic development
(The Islamic Cultural Centre and London Central Mosque, London, 2017) Kareem, M. K.; Bankole, A. S.
Seeking education knows no bounds, age, gender and race in the ancient and modem world. In Islam, the first act (Q2:31-33) and Quranic revelation about 1437 years ago was on education and knowledge acquisition (Q96:l-5). Education is undeniably important and cannot be overemphasized in all the affairs of man, whether social, political, economic and spiritual. This paper, therefore, examines the concept, importance and role of adult education in general and Islamic perspective of adult education in particular relating these to socio-political and economic development. This is done with a view to hypothesizing that education, whether for adults or youths, dictates the level of social and economic development because one cannot give what one does not have. Thus, education can have no ending because it is life. Being a qualitative study, the researchers utilize descriptive methodology to analyze data on adult education to support the paper’s arguments. Findings reveal that Islam provides solutions educationally to resource constraints (human and material) which are the major determinants of the sustainability of social and economic development, the abandonment of which culminated in underdevelopment, crass illiteracy, poverty, ignorance and discouragement of scientific enquiry. The paper analyzed many Quranic verses that encourage man (as homo sapiens) to think, ponder, reflect and discover improved ways of socio-political and economic life for sustainable development (e.g. Q27:69 and Q29:20). The paper recommends properly targeted and delivered adult education to end social strife in today’s world.
An empirical analysis of export supply response capacity in Nigeria
(Centre For Public-Private Cooperation, Ibadan, 2018) Oyeranti, O. A.; Babatunde, M. A.; Adewuyi, A. O.; Bankole, A. S.
The last two decades witnessed a significant fall in trade barriers in Nigeria in an attempt to boost trade and foster economic growth. The changes have been particularly marked in relation to the foreign trade regime. In spite of the significant trade liberalisation, considerably weak or sluggish non-oil export supply response still persisted in Nigeria. Using panel regression on macroeconomic data with a view to obtaining large sample size, implemented along with cross section fixed effect approach and correcting for contemporaneous correlation among the residuals, the study found significant information and establishment costs, as well as inclement macroeconomic environment that adversely impacted businesses in Nigeria and stalled their growth. In addition, it appeared that despite the substantial export bias, compensatory and complementary measures were inadequate to equalise the negative effect of export bias. Similarly, the analysis of survey data buttresses these findings.
Demand for international reserves: a case for reserves accumulation in Nigeria
(Central Bank of Nigeria (CBN), Research Department, 2011-09) Bankole, A. S.; Olaniyan, O.; Oyeranti, O.; Shuaibu, M. I.
This paper examined the determinants of international reserves holding in Nigeria, where a huge amount of foreign reserves is necessary to ensure good macroeconomic policy and international credit worthiness. Adopting a dynamic modeling approach combined with the Mizon-Richard encompassing test, both precautionary and mercantilist motives explain holding of foreign reserves in Nigeria. Specifically, the current account variability and past levels of external reserves drive reserve holding in the short run. In the long run, the former and the money supply are significant determinants. Therefore, enhancement of exports through support for quality and competitiveness of non-oil exports are key to reserves management.
Determinants of child nutrition in Nigeria
(College of Development Studies Covenant University, Canaanland Ota, Ogun State, Nigeria, 2010-04) Olaniyan, O.; Bankole, A. S.; Oyeranti, O. A.; Faseyi, S. A.
The importance of nutrition for an individual's well-being cannot be over emphasised because of its link to child poverty and development of adult human capital. This paper examines the effects of household resources and community-level variables on child nutrition (as indicated by the anthropometric measure of height for age). The data used for this study are drawn from the 1999 Multiple Indicator Cluster Survey in Nigeria. The survey covers the whole country and questionnaires were administered to 18,300 households. We employ a model of nutrition status derived from the maximisation of household utility function. The model estimates the effects of household resources, parental education as well as community-level variables on child health status. We also explore the issue of nonlinearities in parental education as well as interaction between some community variables and parental education. Our results suggest significant relationships between household resources, community factors and child health.
Exports trade, employment and poverty reduction in Nigeria
(Emerald Group Publishing Limited, 2012) Babatunde, M. A.; Oyeranti, O. A.; Bankole, A. S.; Ogunkola, E. O.
Purpose – Poverty reduction remains one of the main goals of development efforts, as evidenced by the adoption of the Millennium Development Goals by most developing countries and international agencies. The purpose of this paper is to explore the relationship between trade (exports) and employment and how the relationship reduces poverty through the instrumentality of employment, with a focus on Nigeria. Design/methodology/approach – The paper takes the form of descriptive analysis. Findings – Evaluating the case for Nigeria, the authors find that oil exports which drives economic growth do not provide the needed employment to reduce poverty, while agricultural trade, particularly exports, are capable of reducing poverty and inequality in Nigeria through the channel of employment and agricultural productivity growth. Originality/value – The paper makes a link between export trade, employment and poverty reduction in Nigeria.
Family size and economic welfare: econometric analysis of the islamic perspective
(Faculty of the Social Sciences, University of Ibadan, Nigeria, 2016-09) Kareem, M. K.; Bankole, A. S.; Hameedah, A.
The impact of financial services globalisation on islamic and conventional bank performance in GCC and MENA countries
(IIUM Press, 2017) Bankole, A. S.; Kareem M. K.
Empirical researches have shown that Islamic banks were more efficient than the conventional banks before, during and after global financial crises and were more resilient to negative profitability and speculation commonly identified with conventional banks despite that the former have grown as a result of globalisation of financial markets, product innovation, and delimitation of financial regulations, among others. However, the analyses of globalisation or internationalisation of financial services have concentrated only on the cross-border flow of portfolio investment in country stock markets, ignoring foreign direct investment and movement of financial services professionals. Using panel regressions to analyse the impact of financial services globalisation, the paper finds that net capital account used to measure the phenomenon has no significant impact on Islamic banks’ performance measured in terms of return on equity, return on asset and profit before tax. This may be due to the oft-cited limited patronage for Islamic banking in general. The policy implication suggests the need for an increased drive to popularise Islamic banking products in non-Islamic countries and for Islamic banks to more actively engage in cross-border trade of Islamic banking services, as well as foreign direct investment in subsidiary banks outside their traditional locations.
Impact of manufactured goods’ exports on economic growth: a dynamic econometric model for Nigeria
(African Journals Online, 2004-12) Lawanson, O. T.; Lawanson, A. O.; Bankole, A. S.
The impact of exports on growth has for a long time enmeshed in controversy partly due to both positive and negative effects empirically established in the literature. Still, most studies in developing countries have left detailed examination of exports' components and domestic institutions unexplored in the export-growth nexus. Based on an error correction model, this paper examines the impact of manufactured exports and its components on economic growth in Nigeria, taking cognisance of the country’s institutional framework. Few of the components of manufactured exports were found to exert positive influence on growth both in the long and short runs. The paper, however, finds ample evidence in support of the relevance of quality of institutions in the economic growth process. In effect, with the right institutional framework, export-led growth, , and specific focus on selected manufacturing subsectors there appears to be a feasible development strategy for Nigeria.
Import competition and Nigeria’s manufacturing sector: analysis of the employment effects of trade
(African Journals Online, 1999-06) Bankole, A. S.; Lawanson, O. A.; Aminu, A.
Interest-based financial system, business cycles and inclusive growth in Nigeria: an econometric analysis of the islamic perspective
(Nigerian Economic Society, 2016-03) Bankole, A. S.; Kareem, M. K.; Oladapo., M. A.
Some economists are of the view that fluctuations in aggregate production in a market economy, which now appear to feature more frequently, are caused by the normal cyclical nature of the economic system comprising fluctuations of production, distribution and consumption. The real business cycle (RBC) models postulate that while real wage and the real interest rate are two prices that drive allocation process, studies on Nigeria have not extensively considered business cycles impact of interest rates despite its obvious theoretical role. Therefore, this paper attempts to provide an econometric analysis of the Islamic perspective on interest-based financial system, business cycles and inclusive growth in Nigeria. The paper deploys Vector Error Correction Model (VECM) econometric technique to Nigerian data covering 1981 to 2013 to single out the overwhelming significance of interest rates among other variables in the country’s economic fluctuations. The results from this study show that the Nigerian economy reacts negatively to any shock from the change in the interest rate and the CPI but reacts positively to the shock from the exchange rate. Due to its presence in the model, interest rate shock accounts for an average of 24 percent variability in the real GDP. Besides, the interest rate is counter-cyclical to the real GDP. The adoption of the interest-free financing mode can proffer solution to this problem.
Liberalization of trade in health services and the implication for Africa’s health system
(Centre for Sustainable Development, University of Ibadan, 2014) Olaniyan, O.; Bankole, A. S.; Oyeranti, O. A.; Afaha, J. S.
This paper explores the relationship between trade in health services, its liberalization, and Africa's health system with particular focus on Africa. Using a sample of African countries, a regression model link, health outcomes to health inputs and health policy variables were estimated to cover two separate periods- the pre- General Agreement in Trade in Services (GATS) (1990-1994) period and GATS period (1995-2006). The coefficients of the regression are then compared to determine the impact of GATS. Increasing the public health expenditure through additional budgetary provisions in African countries improves health only at the margin. The lack of agreement in the form of GATS limited the intensity of trade in health services. The non-significance of the trade in health services proxy variables during GATS period shows that health trade services impacts on Africa's health sector should be limited to commercial presence (Mode 3) and movement of health professionals (Mode 4) which are the channels through which health services trade is conducted in many African countries. Health services trade data are limited, hence proxy measure of health services were utilised in the paper and this might blur the expected impacts. The implication of the paper is for African countries to adequately participate in GATS as it involves trade in health services.
Poverty and inequality among rural households in Nigeria
(2010) Okunmadewa, F.; Olaniyan, O.; Yusuf, S. A.; Bankole, A. S.; Oyeranti, O. A.; Omonona, B. T.; Awoyemi, T. T.; Olayiwola, K.
Production, trade and livelihoods of cotton producers in Nigeria
(Emerald Group Publishing Limited, 2011-06) Bankole, A. S.; Olaniyan, O.; Oyeranti, O.; Abdulrahaman, M.
The sustainable livelihood framework is applied to the context of cotton production and trade in Nigeria’s cotton belt with focus on small cotton farmers vulnerability to natural and environmental disasters; the effects of which policies and programmes were formulated to mitigate. The study aims at the application of multidisciplinary knowledge to the study of households and their livelihoods. In addition, the study helps to augment the pool of livelihoods research in Nigeria. With the aid of interviews and focus group discussions (FGDs), primary data were obtained from purposively selected communities in five northern states of Nigeria; namely Kano, Katsina, Kaduna, Zamfara and Jigawa in addition to secondary data on Nigeria’s cotton sector. The key finding of the study suggests that farmers are vulnerable to natural and environmental disasters as well as policy shocks to which some programmes and projects are targeted. The study also finds that institutional interventions to reduce vulnerabilities have been less successful in dealing with the restoration of small cotton farmers’ economic and social capital assets. Consequent upon the findings of the study, the adoption of sustainable livelihoods is germane for addressing cotton farmers ’ vulnerabilities in order to guarantee the success of poverty reduction strategies meant to help combat poverty for cotton producers.
The role of central banks in financial inclusion and sustainable development: comparative analysis of Islamic and conventional banking environments
(Department of Religion and African Culture, Adekunle Ajasin University, Akungba-Akoko, 2018-12) Kareem, M. K.; Bankole, A. S.
Several findings established the importance of Islamic finance through the removal of collateral and the payment of interest that are features of conventional banking in guaranteeing increased financial inclusion, economic growth and diversification, poverty alleviation!, enhanced efficiency of intermediation and increase income per worker, among others. Financial exclusion is attributed to religion, economic inequality, culture, geography and structure of the economy, lack of access to loans, deposit services, insurance, pension, and financial illiteracy. Therefore, this paper examines the roles of central banks in creating financial inclusion in conventional and Islamic banking environments with a view to drawing important lessons for economies struggling with challenges of financial inclusion in multi religious states like Nigeria. The paper uses comparative contextualization and analyses trends of financial inclusion indicators as outcomes of central bank policy design and implementation strategies in these different paradigms to draw inferences of efficiency and effectiveness. The paper posits that Central Banks in Islamic banking environments which imbibe and actively implement financial inclusion strategies generate better outcomes relating to access to loans, deposit services, insurance, pension, and financial literacy.
Zakah, poverty alleviation, and inclusive growth in Nigeria
(The International Islamic University Malaysia, 2016) Kareem, M. K.; Bankole, A. S.
Macroeconomic literature is replete with discussions on fiscal policy in both developed and developing economies but not much research has been done on zakah, a compulsory tax on Muslims, especially its role in alleviating poverty and generating inclusive growth. Zakah primarily aims at taking surplus money or wealth from the comparatively well-to-do members of the Muslim society and give it to the destitute, the needy and the wayfarer, among others, to improve their purchasing power and economic prosperity. Thus, there is a need to investigate the impact of zakah on poverty alleviation and inclusive growth by assessing the nature of the nexus between zakah and poverty alleviation as well as how and the extent to which those assisted with zakah funds move out of poverty and contribute to inclusive growth. The paper uses descriptive statistics and ordinary least square regression and found that zakah can contribute to the empowerment of the recipients and can additionally alleviate the poverty of the poor who use the unconditional transfer for shelter, debt repayment, medical support, among others.