To achieve the Sustainable Development Goals (SDGs), precisely the one of eradicating extreme poverty at the end of 2030, it is important to understand factors that can reduce poverty. This article examines the effects of tourism development on poverty in Sub-Saharan African countries. Because of the possibility of an endogeneity problem arising from a reverse causation that might exist between poverty and the explanatory variables, the system Generalized Method of Moments (system GMM) estimation technique was deployed. The findings showed that tourism development contributes to poverty reduction in Sub-Saharan African (SSA) countries. In other words, the results obtained provided ample support for the workability of a pro-poor tourism policy agenda. As a result, policies that are targeted at increasing the attractiveness and awareness of the existing SSA tourism sites in order to increase international tourism receipts and arrivals should be promoted since such interventions have considerable poverty reduction potential.
The impact of oil price shocks on the economy has occupied the attention of researchers for almost four decades. Majority of studies support the existence of a negative association, while some recent evidences seem to have popularised the view that outcomes are the artefacts of misspecified functional forms. This study, although similar in spirit to this popular opinion, is, however, distinct in a number of ways. Firstly, unlike most Nigeria-specific studies, this paper explores alternative measures of oil price shocks, which have been developed and used in the literature with a view to ascertaining the extent to which conclusions about the oil price-growth association depend on the definition of shocks adopted. More importantly, this, to the best of our knowledge, is a pioneer attempt at introducing threshold effects into the linkage between oil price shocks and output growth in Nigeria. The relatively recent regime-dependent multivariate threshold autoregressive model, together with the characteristic impulse response functions and forecast error variance decomposition, is adopted in this study. Using quarterly data spanning 1985-2008, a non-linear model of oil price shocks and economic growth is estimated.Our main results indicate that oil price shocks do not account for a significant proportion of observed movements in macroeconomic aggregates. This pattern persists despite the introduction of threshold effects. This implied the enclave nature of Nigeria's oil sector with weak linkages. Therefore, the need to spend oil revenue productively is imperative if favourable effect on real output growth is envisaged.
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