Breaking the Resource Curse: The Role of Natural Resource Funds

Studies have shown that the paradox of “the more resource-rich the poorer” otherwise known as “resource curse” has been prevalent in many countries endowed with natural resources. To mitigate this trend, a revenue management strategy called Natural Resource Funds (NRFs) - a government owned special-purpose vehicle to ensure effective management of the country’s natural wealth was embraced in some nations. This paper critically reviewed the roles of NRFs in breaking the resource curse. The Systematic Quantitative Assessment Technique (SQAT) was adopted in identifying and reviewing sixty-seven (67) peer reviewed journal articles that had researched on NRFs in the last decade. The findings were that NRFs have played an effective role in some advanced countries (Chile and China), while they have failed, especially in Africa, Middle East and Latin America due to poor institutional framework and governance. A globally set code of resource governance was recommended to strengthen the role of NRFs and enhance their effectiveness. Resource revenue maximization other than revenue utilization would be a good area for future research

A Systematic Review of Cryptocurrency Scholarship

AbstractPurpose – The purpose of this paper was to conduct a systemic review of extant cryptocurrency research in order to identify important features of these studies and to provide directions for future cryptocurrency research. Methodology - The Systematic Quantitative Assessment Technique (SQAT) was used to identify and review relevant peer-reviewed journal articles that investigated various facets of cryptocurrency.Findings – 54 journal articles were identified from 12 high-quality databases. The findings of the review revealed that most of the studies took place in Europe, North America and Asia, while Africa has been largely ignored. The main focus of cryptocurrency articles has been on a call for regulation of cryptocurrency without much work done on how to mitigate its vulnerability to the financing of terrorism and as a tool for money laundering. Finally, most cryptocurrency articles adopted a single research method – survey. There is a need for future studies to combine a variety of methods so as to gain additional insight into the issues of cryptocurrency’s vulnerability, risk identification and mitigation, regulation and acceptability.Research limitations - The use of limited but high quality academic databases means that some articles were not considered for this review.Originality/value – This study is one of the few studies to conduct a systematic review on a phenomenon which has the potential to transform the global financial landscape. Keywords – Cryptocurrency, Systematic review, Regulation.JEL Classification – G23, G38

Impact of Entrepreneurial Infrastructure on Profitability of Hotels in Minna, Nigeria.

Purpose: This study aims to examine the impact of Entrepreneurial Infrastructure (EI) on profitability of Small and Medium Enterprises (SMEs), focusing on hotels in Minna, Nigeria. Methodology: Sequential Explanatory Mixed research method was adopted. Purposive Sampling Technique was used to obtain a sample size of 51 out of a population of 70 hotels in Minna for collection of quantitative data via questionnaires, while Simple Random Sampling Technique was used to select 10 interviewees for collection of qualitative data via interviews. Descriptive statistics was employed in analysing the quantitative data, while thematic analysis was used in analysing the qualitative data. Findings: Quantitative findings revealed that the available EI in Minna had a negative impact on the profitability of hotels, while qualitative findings also revealed that interviewees generally felt a poor impact of EI on the profitability of their hotels. Practical implications: These findings would be useful to potential and practicing entrepreneurs in the hotel industry, policy makers and the academic community. It is recommended that government at all levels should formulate policies that will address challenges of the deplorable condition of EI in Nigeria. Paper type: Research pape

Real exchange rate misalignment and economic growth in Nigeria

This paper investigates the impact of Naira real exchange rate misalignment on Nigeria's economic growth using quarterly data spanning the period 2000-2014. We derive estimates of Real Exchange Rate Misalignment (RERMIS) by computing deviations of the actual real exchange rate from a sustainable equilibrium path that is determined using the Behavioural Equilibrium Exchange Rate (BEER) approach of Edwards (1989). Our modelling approach accounts for the possible effects of endogeneity and structural breaks in the estimated relationships. In terms of the extent of RERMIS, results show that the Naira was on the average overvalued by 0.17 per cent during the study period. The Gregory and Hansen procedure provides evidence of co-integration between output and its determinants with a structural break in 2003Q2. Furthermore, we found empirical support for a negative impact of RERMIS on economic growth. In view of these findings, the study recommends the continued use of market-based exchange rate arrangements as a way of ensuring that the Naira real exchange rate follows its path of sustainable equilibrium. This would complement other government policies aimed at promoting economic growth in the country

Real exchange rate misalignment and economic growth in Nigeria

This paper investigates the impact of Naira real exchange rate misalignment on Nigeria's economic growth using quarterly data spanning the period 2000-2014. We derive estimates of Real Exchange Rate Misalignment (RERMIS) by computing deviations of the actual real exchange rate from a sustainable equilibrium path that is determined using the Behavioural Equilibrium Exchange Rate (BEER) approach of Edwards (1989). Our modelling approach accounts for the possible effects of endogeneity and structural breaks in the estimated relationships. In terms of the extent of RERMIS, results show that the Naira was on the average overvalued by 0.17 per cent during the study period. The Gregory and Hansen procedure provides evidence of co-integration between output and its determinants with a structural break in 2003Q2. Furthermore, we found empirical support for a negative impact of RERMIS on economic growth. In view of these findings, the study recommends the continued use of market-based exchange rate arrangements as a way of ensuring that the Naira real exchange rate follows its path of sustainable equilibrium. This would complement other government policies aimed at promoting economic growth in the country

Impact of Entrepreneurial Infrastructure on Profitability of Hotels in Minna, Nigeria.

Purpose: This study aims to examine the impact of Entrepreneurial Infrastructure (EI) on profitability of Small and Medium Enterprises (SMEs), focusing on hotels in Minna, Nigeria. Methodology: Sequential Explanatory Mixed research method was adopted. Purposive Sampling Technique was used to obtain a sample size of 51 out of a population of 70 hotels in Minna for collection of quantitative data via questionnaires, while Simple Random Sampling Technique was used to select 10 interviewees for collection of qualitative data via interviews. Descriptive statistics was employed in analysing the quantitative data, while thematic analysis was used in analysing the qualitative data. Findings: Quantitative findings revealed that the available EI in Minna had a negative impact on the profitability of hotels, while qualitative findings also revealed that interviewees generally felt a poor impact of EI on the profitability of their hotels. Practical implications: These findings would be useful to potential and practicing entrepreneurs in the hotel industry, policy makers and the academic community. It is recommended that government at all levels should formulate policies that will address challenges of the deplorable condition of EI in Nigeria. Paper type: Research pape

Comparative assessment of techno-economic and environmental benefits in optimal allocation of distributed generators in distribution networks

Integration of Distributed Generation (DG) into power systems, especially at the distribution end, is one of the verified approaches that has been utilized to reduce power loss, enhanced reliable electricity supply, and promote environmental sustainability by reducing Greenhouse Gas (GHG) emissions. In this study, an approach for solving an optimal DG allocation problem in distribution network with the objective function of maximizing the financial Techno-Economic and Environmental Benefits (TEEBs) of the grid is discussed. The TEEBs analysis of the DG planning problem is uniquely modeled as financial cost-benefit due to reduced power purchased and reduced Penalty Emission Cost (PEC) arising from the reduction of GHG emission in the network. A comprehensive and comparative analysis was carried out for the four classes of DG technology types to identify the environmental impact of integrating renewable and non-renewable DGs into the distribution system. Furthermore, The DG planning problem is solved using the Black Widow Optimizer (BWO) technique. The study implemented the proposed methodology on the standard IEEE 69-bus and Nigerian Shasa 59-bus distribution systems. The results show that renewable DGs’ optimal integration yielded higher TEEBs than non-renewable DGs despite the high capital cost of renewable DGs. Furthermore, the study affirmed the viability and efficiency of the proposed method by comparing the results of power loss obtained for the various DG types with that of techniques in open works of literature

Impact of Distributed Generators Penetration Level on the Power Loss and Voltage Profile of Radial Distribution Networks

The Distributed Generator types have different combinations of real and reactive power characteristics, which can affect the total power loss and the voltage support/control of the radial distribution networks (RDNs) in different ways. This paper investigates the impact of DG’s penetration level (PL) on the power loss and voltage profile of RDNs based on different DG types. The DG types are modeled depending on the real and reactive power they inject. The voltage profiles obtained under various circumstances were fairly compared using the voltage profile index (VPI), which assigns a single value to describe how well the voltages match the ideal voltage. Two novel effective power voltage stability indices were developed to select the most sensitive candidate buses for DG penetration. To assess the influence of the DG PL on the power loss and voltage profile, the sizes of the DG types were gradually raised on these candidate buses by 1% of the total load demand of the RDN. The method was applied to the IEEE 33-bus and 69-bus RDNs. A PL of 45–76% is achieved on the IEEE 33-bus and 48–55% penetration on the IEEE 69-bus without an increase in power loss. The VPI was improved with increasing PL of DG compared to the base case scenario

Computer aided and experimental study of cinnamic acid analog for oxidative stress treatment: The therapeutic validations

Objectives: The purpose of this study was to investigate the therapeutic activity of the cinnamic acid derivative KAD-3 (ethyl 3-(4-methoxyphenyl) acrylate) on Fe2+-induced oxidative hepatic damage via experimental and computer aided studies. Methods: Oxidative hepatic damage was induced via incubation of tissue supernatant with 0.1 mM FeSO4 for 30 min at 37 °C ex vivo with different concentration of KAD-3. Molecular docking, ADMET profiling, and density functional theory were conducted on the candidate to filter the properties of the drug candidate for drug design. Key findings: GSH, CAT, and ENTPDase activities were reduced when hepatic damage was induced (p < 0.05). In contrast, a significant increase in MDA levels and an increase in ATPase activity were observed. When compared to control levels, KAD-3 treatment reduced these levels and activities (p < 0.05). KAD-3 demonstrated good bond formation (−5.8 kcal/mol, −5.6 kcal/mol), drug-likeness (no rule violation), and electronic properties (chemically reactive) as compared to the standard (quercetin). Molecular docking, ADMET profiling, and density functional theory predict the functional attributes of the drug candidate against ATPase and ENTPDase targets. Conclusion: The findings from our study indicated that KAD-3 can protect against Fe2+-induced hepatic damage by suppressing oxidative stress and purinergic activities

Profiling the antidiabetic potential of GC–MS compounds identified from the methanolic extract of <i>Spilanthes filicaulis</i>: experimental and computational insight

This study examines the nutritional composition, phytochemical profiling, and antioxidant, antidiabetic, and anti-inflammatory potential of a methanolic extract of Spilanthes filicaulis leaves (MESFL) via in vitro, ex vivo, and in silico studies. In vitro antioxidant, antidiabetic, and anti-inflammatory activities were examined. In the ex vivo study, liver tissues were subjected to FeSO4-induced oxidative damage and treated with varying concentrations of MESFL. MESFL contains a reasonable amount of nitrogen-free extract, moisture, ash content, crude protein, and fat, with a lesser amount of crude fiber. According to GC–MS analysis, MESFL contains ten compounds, the most abundant of which are 13-octadecenal and Ar-tumerone. In this study, MESFL demonstrated anti-inflammatory activities via membrane stabilizing properties, proteinase inhibition, and inhibition of protein denaturation (IC50 = 72.75 ± 11.06 µg/mL). MESFL also strongly inhibited both α-amylase (IC50 = 307.02 ± 4.25 µg/mL) and α-glucosidase (IC50 = 215.51 ± 0.47 µg/mL) activities. Our findings also showed that FeSO4-induced tissue damage decreased the levels of GSH, SOD, and CAT activities while increasing the levels of MDA. In contrast, treatment with MESFL helped to restore these parameters to near-normal levels, which signifies that MESFL has great potential to address complications from oxidative stress. Furthermore, the in silico interaction of the GCMS-identified phytochemicals with the active sites of α-amylase and α-glucosidase via molecular and ensembled-based docking displayed strong binding affinities of Ar-tumerone and 4-hydroxy-3-methylacetophenone to α-amylase and α-glucosidase, respectively. Taken together, the biological activities of MESFL might be a result of the effects of these secondary metabolites. Communicated by Ramaswamy H. Sarma</p