Globalisation, Governance and Economic Growth in West Africa: The Case of Cote D' Ivoire and Nigeria

Globalization conveys varying messages to its audience due to its trans-disciplinary nature, and the pattern of governance and socio-political atmosphere in a given economy can influence the e),.1entto which globalization is harnessed. The study examined the influence of globalization and governance on economic growth in West Africa, drawing empirical facts from Cote d'Ivoire and Nigeria. Data sourced from IFS and Polity IV for the period 1960-2004 were analyzed using parsimonious error correction model after Carrying out stationarity and cointegration tests. Whereas the measure of globalization was found to influence positively the economic growth of Cote d'Ivoire and Nigeria, the nature of governance and socio-political situations had negative effect. The study recommends that efforts are to be made by these countries to adapt technologies that suit local peculiarities via appropriate policies, in order to significantly partake of the opportunities that are in the globalizing world. The need for the nature of governance and socio-political ambiance to be investment friendly was also advocate

FOREIGN CAPITAL AND AFRICA’S ECONOMIC PROGRESS: FACTS FROM NIGERIA AND SOUTH AFRICA

Foreign capital inflow is usually believed as a means of supplementing domestic capital. The paper examined the influence of foreign capital on Africa’s economic progress focusing on Nigeria and South Africa (1970-2004). Data sourced from IFS, CBN and others were analyzed with econometric techniques. Empirical facts from cointegration and Granger casualty tests are as follows: There is a long-run relationship between foreign capital and economic progress in South Africa but in Nigeria it is short-run oriented; Foreign capital Granger-causes economic progress in South Africa, while in Nigeria casualty runs on the reverse; a bi-directional causality exists between economic progress and domestic capital in South Africa, for Nigeria it is uni-directional running from domestic capital to economic progress; Labour force in both countries Granger-causes their economic progress. In the light of the above, foreign capital should be promoted in South Africa to enhance her economic progress while in Nigeria polices that can reduce the level of capital flight (e.g. dependable institutional framework etc) are essential for foreign capital to have long-run influence on her economic progress. The need for the countries to rely more on domestic capital is equally suggested as viable factors for their economic progress

Technology Diffusion and Economic Progress in Africa: Challenges and Opportunities

Application of appropriate technology has been noted as one of the distinguishing factors in growth disparities across countries. Thus, this study investigates the role of technological diffusion in economic progress in Africa. This was achieved using descriptive and empirical analyses based on imitator-innovator theoretical framework. The study established that the sub-regions in Africa with higher values in technological diffusion indicators experienced higher economic progress, which is a good indication of a significant positive relationship between economic progress and technological diffusion. Thus, the study concludes that if Africa must make contribution to the global knowledge economy and move on the path of economic progress, the issue of technological diffusion through adequate investment on R&D, functional education, among others, needs to be addressed with all serious efforts

Trade Outcomes in Africa’s Regional Economic Communities and Institutional Quality: Some Policy Prescriptions

The global economic crisis of 2007/2008 that threatened the economic/financial fabrics of most countries has brought again the essence of strong institutional quality to the fore. This is particularly interesting as it impacted on trade outcomes in many countries including those in Africa. For instance, merchandize exports as a percentage of GDP for SSA reduced by 17.9% in 2007. Thus, this paper examines the effectiveness of RECs in Africa with respect to trade outcomes using some indicators, which was achieved using data from African Development Indicators, inter alia (1996-2008). Analyzing the data with descriptive and statistical techniques established, among others, that the respective indicators of trade outcomes, institutional quality were rather low and differed markedly across RECs in Africa. The study recommends that improvement of institutional quality in tandem with enhanced infrastructural facilities will play crucial roles in promoting trade outcomes in Africa’s RECs

Educational Backgrounds and Youth Criminality in Nigeria

Mismanagement and recurring strikes in the Nigerian educational sector have institutionalized a legacy of intellectual poverty and criminality among youth. Unchecked persistent strikes have led to progressive deterioration in infrastructure and academic quality, leading to criminal activities among the youth. This study utilizes the concept of alternative educational backgrounds to interpret the density of crimes among youth in Nigeria. The research draws empirical evidence from Nigeria Bureau of Statistics (NBS) and supports it with a field survey. The collated data were subjected to both descriptive and regression analyses. The statistical results show that neglect of education is significantly correlated with criminal and mendicant (area-boyism) behavior among youth. This paper recommends that for the nation’s education to have an impact in reducing crime there is a need to inject vibrancy into the educational system in order to encourage and enhance educational quality/quantity