No abstract

The world has become more linked owing to the increased intensity of globalisation across regions. Sub-Saharan Africa (SSA) has become more relatively integrated into the world economy as shown by increasing degree of trade openness and foreign direct investment. Over the same period, quality of life of people in SSA in terms of access to basic necessity, monetary and non-monetary indices of poverty have been on the declining trend. This study adopted endogenous growth theory in analysing the comparative effects of globalisation between the highly and weakly globalised economies in SSA countries. Four channels of transmission of impact of globalisation were considered: trade openness, financial and capital flows labour mobility and access to telephone. Data for 16 SSA countries – 8 weakly globalised and 8 strongly globalised countries based on KOF globalisation index, were sourced from the world Development indicator for the period of 1980-2012. The feasible generalised least square (GLS) estimator was utilized to estimate the fixed and random effects panel regression models. Hausman test was used to determine the efficient estimator between fixed and random effects. All estimated coefficients were evaluated at 5% level of significance. The outcome of the comparative analysis revealed a mix result in some cases and unidirectional in some. In all, countries with higher intensity of globalisation have a greater improvement in their human welfare indicators compared to countries with weak globalisation indices. The study then recommended an improved reform in global integration to enable the region maximize the immense benefits inherent in global connections.

The research study investigates the causal links between institutional quality and industrial output growth in Nigeria for the periods 1996:Q1-2018:Q4. Institutional quality was delineated into three i.e. economic institution (government effectiveness, regulatory quality, rule of law, and control of corruption), financial institution (contract intensive money, lending rate, and financial deepening), and political institution (voice and accountability, and political stability and absence of violence). The study computed the Granger causality test using both the VECM and the Toda and Yamamoto [1] and Dolado and Lutkepohl [2] (TYDL) augmented VAR procedure. The causality result in the short run showed that none of the institutional quality variables have a causal effect on industrial output growth but the feedback was reported. In the long run, a bi-causal relationship was reported from government effectiveness, control of corruption, financial deepening, and voice and accountability to industrial growth, whereas, a one-way directional relation was found running from industrial growth to regulatory quality and political stability & absence of violence. Thus, there is a need for the government to intensify efforts towards improving the extent people can challenge her power and authority because these play significant roles in the development level of Nigerian industries.