This study examines the causal relationship between foreign direct investment and economic growth in sub-Saharan Africa from the period 1995-2011. The study uses annual data for a panel of 30 subSaharan Africa Countries. We test for Granger causality in heterogeneous panels by testing first for Homogeneous Non-Causality and Homogeneous Causality hypotheses. The non-homogeneous test, which tests the hypothesis that gross domestic product (GDP) does not Granger-cause foreign direct investment and foreign direct investment does not Granger-cause GDP, is rejected, and it is also shown that there is bidirectional causality between economic growth and insurance in sub-Saharan Africa. The homogeneous causality tests, which test the hypothesis that GDP Granger-causes foreign direct investment and foreign direct investment Granger-causes GDP, are accepted. It is also shown that causality is homogeneous across all members of the panel.
This study examines the determinants of technical efficiency (TE) and income inequality of family business in southwest Nigeria. Data were obtained from primary source using structured questionnaire and interview schedule. A multi-stage sampling technique was employed in selecting 120 respondents for the study. Analyses were carried out using descriptive statistics, Gini coefficient and Lorenz curve as well as the stochastic frontier production function models. The results revealed that experience, educational level, household size and method of processing were the main determinants of TE of the respondents. Results further showed that food vending was in Stage II of production surface as shown by the returns to scale (RTS) of 0.776. The variables such as cost of raw materials, labour, operating expenses, depreciation cost on equipment and duration of the business were effectively allocated and used, which was also confirmed by the estimated coefficient value of each variable between zero and unity. The technical efficiency of food vending also varied between 0.44 and 0.69 with a mean of 0.52. However, the analysis of inefficiency model revealed a positive response of age factor. This implies that age factor led to decrease in TE of food vending in the study area. Also, the result of the Gini coefficient (0.58) indicated the presence of income inequality among the food vendors which was also affirmed by the Lorenz curve. The study therefore concludes that experience, educational level, household size, age factor and processing method were the main determinants of technical efficiency and uneven income distribution among the food vendors in the study area.
In spite of the roles played by ICT and the various efforts made by government at all levels to encourage SMEs to adopt ICT for effective performance, SMEs in Nigeria have failed to take the advantage of reaping the benefits of ICT application in order to perform optimally. The study therefore investigated the extent of ICT application by Small and Medium Enterprises, and evaluates the effect of ICT application on the performance of SMEs in Ondo State, using a well-structured questionnaire as method of data collection. Both descriptive and inferential methods of analysis were also used by the study. The descriptive analysis revealed that SMEs applied ICT devices to a large extent in their operations in the study area; leaving only the satellite system (2.03), cash counting machine (2.02), fax/telex (1.90) and Cash tiling machine (1.58) devices that were 'not often' or 'never' used, with their corresponding mean values within 1.81 -2.6 and 1.0 -1.8 respectively. The Hierarchical Multiple Regression and Analysis of Variance (ANOVA) results also indicated positive and significant effect of ICT application on performance of SMEs in the study area, with all the predictor models significant at 5% level. The study concluded that ICT application did not just make a difference but a significant difference in the performance of small and medium enterprises (SMEs) in Ondo State, Nigeria; while also recommended the need to put into constant use some of the ICT devices that were not often or 'never' used by SMEs, so as to continually serve the customers better, gaining competitive advantage and maintaining significant performance of SMEs in Ondo State, Nigeria.
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