Impact of Fixed Medium-Term National Development Plans and Structural Adjustment Program on Aggregate Economic Activity in Nigeria

Nigeria adopted and implemented four fixed medium-term national development plans between 1960 and 1985 with a view to ultimately achieving optimum societal wellbeing. However, due to the economic problems of the 1980s, an extensive structural adjustment program (SAP) was put in place in 1986. Among other things, SAP was meant to restructure and diversify the Nigerian economy. This paper empirically analyzes the impact of the four plans and the structural adjustment program on aggregate economic activity in Nigeria. The study employs a growth equation that contains major macroeconomic variables such as credit to private sector, foreign direct investment and foreign trade as well as dummy variables that capture eras of the four fixed medium-term national development plans and the structural adjustment program. Contemporary econometric techniques of co integration and autoregressive modeling form part of the methodology for this study. The study is based on annual time series data from 1960 to 2009 obtained from the Central Bank of Nigeria (CBN). The estimates of the study, among other things, reveal that the fixed medium-term national development plans in general had no significant impact on aggregate economic activity in Nigeria whereas the structural adjustment program had some significant positive impact on aggregate economic activity in the country. Thus there is need for optimum state planning in the country, especially if the planning is for fixed medium-term. In general, there is need for optimal management of the country’s economy. Keywords: Development planning, Econometrics, Structural adjustment program, Time series, Nigeria

Interconnections among changing family structure, childrearing and fertility behaviour among the Ogu, Southwestern Nigeria

The interconnections of family transformation, childrearing and fertility behaviour are explored. Data were generated through nine focus groups organized among the Ogu and content analyzed. The analysis reveals that although the family system is still largely dominated by extended structure, the strong traditional kinship ties have begun to undergo serious strain. Child fostering and other means of spreading childrearing cost among relatives are fading out. Consequently, desired family size and ideal number of children in the society now gravitate to four children relative to over eight in the past. Given dwindling extended family resources for the support of a large number of its members, innovative reproductive behaviour is permeating the society, such as the adoption of family planning.childrearing, childrearing cost, family planning, family structure, fertility, fertility behavior, household, ideal family size, interconnections, kinship

Post-harvest production efficiency and output elasticity in cassava processing activities in rivers state

While productivity may consider the quantity of output that emerges from a production process. Output elasticity measures the percentage change (response of output to input use) in output resulting from a given percentage change in input. Using the Cobb-Douglas production function, the responsiveness of the outputs of Garri and Fufu to labour in man-days and capital investment was analysed. Regression analysis was used to investigate how the outputs that emerged relates to the quantity of labour input employed.The study showed that in some agricultural zones in Rivers State and, in some products, there were negative response. A negative response to input use is an indication or suggests allocation inefficiency. Output efficiency measurement is very important in agricultural production in a profit oriented enterprise. Efficiency in cassava processing may be a function of several variables including volume of credit and processing technology in use. In the two variables studied, α+β were less than one, suggesting a decreasing return to scale generally.Keywords: Elasticity, input, output, efficiency, response

Religious-Base Social Relationship and the Psychological Well-being of the Elderly: Gender and Race variations

More people in the United States are approaching retirement age, a trend which has resulted in increased study on life satisfaction and psychological well-being of the elderly. Previous researchers have focused on the relationship between religious social support and life satisfaction; however, there remains a gap in the literature regarding how race and gender may influence this association. Knowledge of interactions between religiosity, gender, and race will enable counselors working with different groups of religiously inclined clients to develop and implement religious-based interventions specific to their clients. Guided by the social ecological model, the purpose of this study was to examine how gender and race influence religious social relationships and psychological well-being, optimism, and self-rated health among the elderly, using data from the Religion, Aging, and Health Survey. Pearson bivariate correlations and hierarchical linear regression were used to examine multicollinearity among variables and whether the association between the religious variables measured and the psychological well-being of the elderly varied by gender and/or race. All 3 religious constructs significantly predicted positive well-being outcomes. However, only gender and race interactions were significant for the religious-based relationships with others variable. Income and marital status were found to be significant covariats for this study. Also, both income and marital status were significantly associated with the relationship between religious variables and the psychological well-being of the elderly. Findings from this study can aid religious leaders and public health practitioners in developing programs and policies to improve perception of health and psychological wellbeing among the elderly

Feats and Failures of Corporate Credit Risk, Stock Returns, and the Interdependencies of Sovereign Credit Risk

This dissertation comprises two essays; the first of which investigates sovereign credit risk interdependencies, while the second examines the reaction of corporate credit risk to sovereign credit risk events. The first essay titled, Characterizing Sovereign Credit Risk Interdependencies: Evidence from the Credit Default Swap Market, investigates the relationships that exist among disparate sovereign credit default swaps (CDS) and the implications on sovereign creditworthiness. We exploit emerging market sovereign CDS spreads to examine the reaction of sovereign credit risk to changes in country-specific and global financial factors. Utilizing aVAR model fitted with DCC GARCH, we find that comovements of spreads generally exhibit significant time-varying correlations, suggesting that spreads are commonly affected by global financial factors. We construct 19 country-specific commodity price indexes to instrument for country terms of trade, obtaining significant results. Our commodity price indexes account for significant variation in CDS spreads, controlling for global financial factors. In addition, sovereign spreads are found to be related to U.S. stock market returns and the VIX volatility risk premium global factors. Notwithstanding, our results suggest that terms of trade and commodity prices have a statistically and economically significant effect on the sovereign credit risk of emerging economies. Our results apply broadly to investors, financial institutions and policy makers motivated to utilize profitable factors in global portfolios. The second essay is titled, Differential Stock Market Returns and Corporate Credit Risk of Listed Firms. This essay explores the information transfer effect of shocks to sovereign credit risk as captured in the CDS and stock market returns of cross-listed and local stock exchange listed firms. Based on changes in sovereign credit ratings and outlooks, we find that widening CDS spreads of firms imply that negative credit events dominate, whereas tightening spreads indicate positive events. Grouping firms into companies with cross-listings and those without, we compare the spillover effects and find strong evidence of contagion across equity and CDS markets in both company groupings. Our findings suggest that the sensitivity of corporate CDS prices to sovereign credit events is significantly larger for non-cross-listed firms. Possible reasons for this finding could in fact be due to cross-listed firms’ better access to external capital and less degree of asymmetric information, relative to non-cross-listed peers with lower level of investor recognition. Our results provide new evidence relevant to investors and financial institutions in determining sovereign credit risk germane to corporate financial risk, for the construction of debt and equity portfolios, and hedging considerations in today’s dynamic environment

Extramarital relations and perceptions of HIV/AIDS in Nigeria

Data from a 1991 survey of five Nigerian towns are used to examine currently married men’s and women’s perceptions of AIDS which, together with other socioeconomic factors, are then related to extramarital sexual behaviour. An overwhelming majority of the respondents have accurate information about AIDS. In particular, most associate HIV/AIDS transmission with multiple sexual partners, though only one-third of them think that the fear of AIDS has limited casual sex in their communities. About 54 per cent of men and 39 per cent of women have had extramarital relations, with 18 per cent of men and 11 per cent of women having done so in the previous week. The incidence of extramarital relations varies considerably by respondents' level of education, type of marriage, religion, and spousal closeness. More importantly, knowledge of multiple sexual partners as a risk factor for HIV/AIDS is inversely related to extramarital affairs. The study underscores the link between knowledge and behaviour, and calls for a well-articulated campaign designed to educate the populace about the threat of AIDS, with the aim of modifying both premarital and extramarital sexual behaviour, thereby reducing the risk factor for HIV through heterosexual relations which is the main mode of transmission in Nigeria

Prevalence and determinants of child fosterage in West Africa: relevance to demography

Ethnographic studies in West Africa show that the practice of sending children away to be raised by relatives and nonrelatives is widespread among many ethnic groups. This paper is an attempt to explore the demographic relevance of the practice. The fostering information is obtained from two sources: the responses given by women to the question on children away from home, and by linking all children to their mothers with the unmatched children being treated as fosters. The characteristics of these children, their surrogate mothers, and those of the biological mothers are explored, and the determinants of child fostering are discussed as correlates of these attributes. The results are indicative of high incidence of child fosterage in Ghana, Sierra Leone, Liberia and Nigeria. Child fostering enhances female labor force participation, and may affect the fertility decisions of both natural and foster parents, mainly because it serves to reallocate the resources available for raising children within the society. It may also have consequences on child survival, depending partly on how the culture treats children outside of their maternal homes

Educational Ergonomics in Higher Education Institutions in Nigeria

This study focused on investigating the ergonomics and ergonomic considerations of learning environments of higher education institutions (HEIs) in Nigeria. It adopted a descriptive survey design. Population of study comprised all the three universities in Rivers State and a total of 136 lecturers, 230 students and 6 staff of works departments constituted the sample. Four research questions and one hypothesis guided the study. Data was collected using a researcher-constructed questionnaire entitled Educational Ergonomics in Higher Institutions questionnaire (EEIHIQ). An observation checklist and interview schedules were also used. The instrument was validated by experts and its reliability index was established at .75 index using Pearson Moment correlation coefficient. Mean scores were used to answer the research questions while the z–test was used to test the hypotheses at the .05 level of significance. The findings were that school buildings and other teaching and learning facilities in the universities are ergonomically below standard and unsafe. Recommendations towards improvement are made.Keywords: Physical facilities planning; Ergonomics; Quality assuranc

Understanding Sexual Negotiation between Marital Partners: A Study of Ogu Families in Southwestern Nigeria

Studies on African sexuality have concentrated on men extra-marital affairs and a total neglect of sexual negotiation between husband and wife. The main objective of this study is to examine gender differentials in sexual negotiation strategies between marital partners among the Ogu, South-western Nigeria. Data were generated from survey conducted among 900 married men and women and 9 focus group discussions. Analysis reveals that both husband and wife have sexual needs that make them to desire sex naturally. While men do make direct demand for sex, women employ indirect erotic strategies to initiate sex. The consent of both partners is required for sexual encounter to give maximum pleasure. Logistic models show that urban residence and frequent spousal communication are associated with gender equity in sexual negotiation between marital partners. It is suggested that sexual health programmes should therefore focus on both partners and not just men

Effect of Total Quality Management on Industrial Performance in Nigeria: An Empirical Investigation.

The study examined effect of Total Quality Management on Industrial Performance in Nigeria. Longitudinal design was employed which spanned the period of 1996 to 2008. Secondary data set of quality control cost, expenditure of salary on labour and the value of industrial output that served as surrogates of Total Quality Management and Industrial Performance respectively were collected from Pal Brewery in Anambra State. The data were analysed using Ordinary Least Square (OSL) method of multiple regression to determine the effect of the predictor variables on the dependent variable. The study found that cost of quality control had non significant positive effect on industrial performance while expenditure of salary on labour had a non significant negative effect on industrial performance. It was concluded that Total Quality Management substantially enhanced industrial performance in the Brewery subsector of the Nigerian economy. The study recommended that firms should initiate and implement company-wide and customer-centred Total Quality Management programmes to attain and sustain customer satisfaction and high performance. Key Words: Total Quality Management, Industrial, Performance