Department of Economics
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Browsing Department of Economics by Author "Abdulkareem, Hauwah K. K."
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- ItemDoes the relative size of agricultural exports matter for sustainable development? Evidence from Sub-Sahara Africa(Elsevier, 2025-02-26) Nofiu, Taofeekat Temitope; Akande, Rashidat Sumbola; Jimoh, Sodiq Olaiwola; Abdulkareem, Hauwah K. K.This study investigates the effect of the relative size of agricultural exports on sustainable development across 46 sub-Saharan African countries between 1999 and 2020. Using data on adjusted net savings and sustainable development indices as proxies for sustainable development, the empirical analysis applies the Driscoll-Kraay standard error method which accounts for cross-sectional dependence. The results indicate that the relative size of agricultural exports has a positive effect on sustainable development while agricultural non-export production is found to contribute more to sustainable development than agricultural exports. Given agriculture's dominance and the agro-based export potential for these economies, the study recommends pro-agricultural export policies aimed at expanding agricultural exports over non-agricultural exports if the choice is between exporting agricultural commodities and exporting non-agricultural commodities. However, the import substitution strategy should be prioritized over the agricultural export promotion strategy when choosing between exporting agricultural commodities and producing for domestic consumption for higher sustainable outcomes.
- ItemFinancial Inclusion, Institutional Quality, and Poverty Reduction in Nigeria.(Kwasu, 2024-12) Akande, Rashidat Sumbola; Abdulkareem, Hauwah K. K.; Olohunlan, AminaPoverty alleviation remains a global challenge and at the fore front of the economic development of developing economies like Nigeria. Although it has been established in literature that financial inclusion is crucial for poverty reduction, few studies have examined the role of institutional quality as an important determinant of poverty reduction. Hence, this study examines institutional quality and financial inclusion on poverty reduction in Nigeria. The paper is anchored on the Capability Approach and adopts the Human Development Index (HDI) as a proxy for poverty reduction as it measures basic human capabilities. With time series data from 1987 to 2022 the VECM is employed as the estimation technique given the established long-run relationship obtained from the ARDL bounds test cointegration technique. Findings reveal that in the short run, financial inclusion and institutional quality are statistically significant and positive for poverty reduction. In the long run, however, these relationships become insignificant. This study, therefore, elucidates on the opposing directions of financial inclusion and poverty alleviation in the country with institutional quality also shown to be vital. Consequently, financial inclusion and institutional quality are found to be necessary, but insufficient conditions for poverty reduction. Hence, while financial inclusion and good institutions are important in the short run, long-term poverty alleviation strategies must be comprehensive and multi-sectoral in approach to complement, consolidate, and sustain the poverty reduction potentials of financial inclusion and high-quality institutions.
- ItemInformal Sector and Financial Development in Sub-Saharan Africa(2023-12-08) Jimoh, Sodiq Olaiwola; Akande, Rashidat Sumbola; Abdulkareem, Hauwah K. K.; Jimoh, Odunayo Bidemi; Sulaimon, Taofikat Temitope; Yusuf, Toyin Yusuf; Adegboye, Israel; Usman, Aminat MamaSince a persistent increase is seen in the size of the informal sector and its continuous coexistence alongside the formal sector and institutional development, this study empirically examines the effect of informal sector size on the financial development in Sub-Saharan Africa for the period 1996-2019. The study represents financial market development by the financial market depth, which is regressed against informal sector size, growth rate of GDP, interest rate, trade openness, and institutional quality index. The study relied on the estimates of the Discroll-Kraay and IV-2LS. Results indicate that informality repressed financial development, while trade openness, growth rate of gross domestic product, interest rate, and institutional quality have a positive impact on financial development. It is therefore recommended for policymakers to reduce the size of informality to improve the financial sector.
- ItemThe paradox of regional integration and sustainable development: perspectives from West Africa(2023-12-18) Jimoh, Sodiq Olaiwola; Akande, Rashidat Sumbola; Abdulkareem, Hauwah K. K.Although opportunities abound for the achievement of Sustainable Development Goals (SDGs) with regional integration, West Africa has not been able to fully harness the potential gains of regional integration. This study examines the extent to which regional integration drives sustainable development in West African countries from 1980 to 2019. This study specifies a Cobb-Douglas-type production function that expresses output as a function of capital and labour, which is augmented with trade integration. Adopting the dynamic common correlation effects (DCCEs) method as the estimation technique, results show that labour and capital stock have a significant positive impact on sustainable development, while trade integration is found to have a negative impact on sustainable development. Although the result is contrary to expectations, it reflects the current reality of the state of regional trade in the region, as well as the attendant slow progress in the achievement of SDGs.