FACULTY OF THE SOCIAL SCIENCES
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Item Education and Inclusive Growth in West Africa(Emerald Publishing, 2021) Adeniyi, O. A.; Ajayi, P. I.; Adedeji, A."Abstract Purpose - Many West African countries face the challenge of growth inclusiveness. The region is also facing challenges of equipping its teeming population with high-quality skills despite many reforms and initiatives introduced in the past. This study, thus, identifies education as a crucial contributory factor to growth inclusiveness in the region. It, therefore, examined the role of education in growth inclusiveness in West Africa between 1990 and 2017. Design/methodology/approach - The study utilised different proxies to capture quantity and quality dimensions of education. The unit root and ARDL ""Bounds"" tests were employed at a preliminary stage. Based on the preliminary tests, the study explored autoregressive distributed lags modelling technique to capture the short-run and long-run dynamic effects. Findings - The empirical results reveal a positive impact of school enrolment measures in most of the countries in both short-run and long-run. Education quality measure exerts positive impact and significant in few countries under consideration. Practical implications - These countries should give adequate attention to quality when designing education policy to foster their inclusive growth. Originality/value - This study highlights the critical role of education in the inclusive growth pursuit. Education quantity is important to growth inclusiveness but the quality of education is more fundamental. The quality of education possessed determine to a large extent, what individual can contribute to the productive activities within the economy and accessibility to benefits from economic prosperity."Item Globalisation and Inclusive Growth in Sub Saharan Africa: The Role of Institutional Quality(Sage Publications India Pvt. Ltd, 2023) Kumeka, T.; Raifu, I. A.; Adeniyi, O. A.This study examines the relationship between globalisation and inclusive growth by considering the modulating role of institutional quality. To achieve our broad objective, we use data from 45 African economies over 1996–2018 to deter mine the panel cointegration and cointegrating regression association between inclusive growth, globalisation and institutional quality. To determine a suitable estimation technique for the empirical analysis, several pre-estimation tests were conducted. After confirming the existence of cointegration and slope hetero geneity, we adapted the long-run panel cointegrating methods—the fully modified ordinary least squares and dynamic ordinary least squares estimations. The results from both show that aggregate globalisation and its various dimensions have positive and significant effects on inclusive growth. Besides the direct positive impact on inclusive growth, globalisation has indirect positive and significant impact on inclusive growth through institutional quality. Finally, some policy implications are highlighted.Item Education and Inclusive Growth in West Africa(Emerald Publishing, 2021) Adeniyi, O. A.; Ajayi, P. I.; Adedeji, A.Purpose - Many West African countries face the challenge of growth inclusiveness. The region is also facing challenges of equipping its teeming population with high-quality skills despite many reforms and initiatives introduced in the past. This study, thus, identifies education as a crucial contributory factor to growth inclusiveness in the region. It, therefore, examined the role of education in growth inclusiveness in West Africa between 1990 and 2017. Design/methodology/approach - The study utilised different proxies to capture quantity and quality dimensions of education. The unit root and ARDL ""Bounds"" tests were employed at a preliminary stage. Based on the preliminary tests, the study explored autoregressive distributed lags modelling technique to capture the short-run and long-run dynamic effects. Findings - The empirical results reveal a positive impact of school enrolment measures in most of the countries in both short-run and long-run. Education quality measure exerts positive impact and significant in few countries under consideration. Practical implications - These countries should give adequate attention to quality when designing education policy to foster their inclusive growth. Originality/value - This study highlights the critical role of education in the inclusive growth pursuit. Education quantity is important to growth inclusiveness but the quality of education is more fundamental. The quality of education possessed determine to a large extent, what individual can contribute to the productive activities within the economy and accessibility to benefits from economic prosperity."Item Econometric Analysis of the Deficit Financing Options-Growth Inclusiveness Nexus in India and Nigeria(Springer Nature, 2020) Chigbo, M.; Adeniyi, O. A.; Orekoya, S. O.The crux of the study was to ascertain whether (and to what extent) the different defi cit financing options impacted inclusive growth in India and Nigeria. The paper con ducted an empirical analysis using data covering the period from 1989 to 2018 using the ARDL model. Some interesting results were obtained. First, foreign aid positively impacted inclusive growth in both short and long run for Nigeria. Contrarily, the results for India presented an inverse relationship between aid and inclusive growth with no statistical significance in the short and long run. Second, the impact of borrowing on inclusive growth was significant and negative for short run and long run in India. In the Nigerian case, the findings highlighted a positive and significant effect of borrowing on inclusive growth for both time horizons. Third, on the issue of human capital investments, the government expenditure on education effect on growth inclusiveness was found to be positive and negative in the short and long run, respectively, for India. On the other hand, government expenditure on health was negative in the short run and positive in the long run in Nigeria. Thus, there are a number of relatable policy recommendations viz: (i) Nigeria needs to utilize its borrowing options more effectively by undertaking relevant infrastructural and human capital investments; (ii) Instead of reliance on foreign aid for growth, Nigeria could join the liquidity race by attracting more diaspora remittances like its comparator India; (iii) The government of India should devote even more resources to capital expenditure to drive long-term investments and ensure that a greater number of citizens benefit from the process.