We examine the real and financial connectedness of selected African economies with the global economy using a network approach. We find that the connectedness of African economies with the global economy is quite sizable, with the global financial crisis increasing the connectedness measures above their pre‐crisis levels. The results show that U.S., EU and Canada dominate Africa's equity markets, while China, India and Japan dominate Africa's real activities. Our results suggest that African economies are predominantly small open economies, deeply interconnected but systemically unimportant and vulnerable to headwinds emanating from the dominant economies in the overall global economy.
We examine the dynamics of output connectedness of Asian Pacific Economic Cooperation (APEC) economies using time‐varying, region‐specific, generalised connectedness measures. We find that the connectedness of APEC economies with the rest of the world is quite substantial, with the 2008–09 Global Financial Crisis increasing the connectedness measures above their precrisis levels. The USA, China, and Korea are shown to be systemically important and to dominate APEC’s real activities, while outside the APEC region the roles of India and the UK are also non‐negligible. These results suggest that the majority of APEC economies are considerably open to output shocks from the dominant economies such that policymakers in APEC must be continuously conscious of headwinds originating from these sources.
The aim of the study is to find out the possibility of recovering the tariff revenue that will be lost in the process of liberalization through restructuring of the domestic tax system in Nigeria by examining the buoyancy and elasticity of the tax system. Using the dummy method, commonly known as the Singer approach, the Nigerian tax system as a whole was found to be relatively buoyant but not elastic. The buoyancy however showed a decline close to 16% after the 1991 trade reform. Import duty despite the decline in its share in total tax from 47.3% before the reform to 28% over the reform period showed a positive increase in buoyancy. CIT collection measured by tax-to-base elasticity declined by 46% over the reform period, suggesting that there is an urgent need to improve on tax administration. Also, the result confirm the ineffectiveness of the various reforms and (DTMs) in enhancing the productivity of the tax system, showing that much need to be done in our domestic tax system, both in structure and administration before thinking of engaging in any bi-or multilateral trade agreement.
Over the years, there has been a consistent increase in the production and use of plastic and sachet packaged products in Nigeria which results in a proportional increase in plastic and Nylon waste pollution in the environment. An earlier survey show that the introduction of sachet water in the country some years ago worsened the situation as it contributes to more than 60% of the sachet pollution. This study therefore tried to find out an efficient and sustainable means of collecting the used sachet water bags to minimize its negative external impact on the environment. It was carried out using primary data collected through direct interview from a sample of 1500 individual in some selected states in the Country. The data was analysed using descriptive statistics and Log-log regression model. The results of the analysis show that PPP method can be effective in managing the menace. Majority of the sampled individuals are of the opinion that a 100% PPP levy will be a sufficient motivation for sachet water users to return their used sachet water bags to the appropriate collection sites in return for their levy or for the trash pickers to collect them for an equivalent payment.
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