Papers by Temitope laniran
Journal of Social and Economic Development, Sep 15, 2023
This study aims to explore the mechanism that corroborates the political-economy explanation of t... more This study aims to explore the mechanism that corroborates the political-economy explanation of the resource curse in oil rich developing countries. This mechanism elucidates that increasing resource rents provides higher incentives for leaders to remain in power, through a deliberate refusal to improve taxation capacity, which would, in turn, reduce the tax burden on its citizens to reduce their demand for accountability. Using a panel data set for 25 oil producing developing countries for the period 1996-2011, the study demonstrated that oil abundant developing countries lack adequate taxation capacity which influences fiscal contract through taxation of the citizens and minimises the scrutiny of government and the demand for accountability. In turn, the economy is plagued by inadequate provision of public goods and a limited means to raise revenue to finance government expenditure. The empirical analysis supports this mechanism. To this regard, it concludes that the presence of oil in the selected countries can undermine accountability.
Existing literature posits that there is an association between foreign aid and growth; however, ... more Existing literature posits that there is an association between foreign aid and growth; however, the robustness of this relationship is often questioned. A similar lack of consensus exists on the relationship between remittances and growth. Given the significant outlays of foreign aid and remittances to developing countries, this study is motivated by the objective of investigating which of these transfers has the greater impact on growth. Employing panel data of 77 developing countries over the 1995-2011 periods using Systems GMM, the results suggest a substitutable relationship and not complementary between aid and remittances implying that the presence of remittance reduces the amount of aid allocated to a country and also its relative growth-impact. Rimesse ed aiuti dall’estero: sostituti o complementari nella crescita economica dei paesi in via di sviluppo? Secondo la letteratura esistente si ritiene vi sia una relazione tra aiuti esteri e crescita, ma la robustezza di tale rel...
The notion of Africa as the direct antithesis of progress has begun to change in recent years. Th... more The notion of Africa as the direct antithesis of progress has begun to change in recent years. The advent of the present millennium has seen a persistent unravelling of the narrative of pathological dysfunctionality hitherto associated with Africa and a gradual paradigm shift to a new narrative that sees Africa as a growing continent with profound possibilities. Proponents of the new narrative have not limited it to just economic growth but have included changes in the political, economic and social structures. On face evaluation, it seems apparent that the tragedy of Africa as a drag to global growth and prosperity has turned. However, on careful examination, the change in the narrative only represents nominal progress built on a dysfunctional neoliberalism and continued commodity reliance with no real changes in the lives and living conditions of sub-Saharan Africans. While the economic growth figures across the region have been quite impressive and significant, the changing face ...
This chapter provides an introduction to the thesis. It discusses the motivation and states the p... more This chapter provides an introduction to the thesis. It discusses the motivation and states the problem identified. It outlines the objectives and research questions to be addressed by this thesis, as well as the methods to be utilised in achieving the objectives. It also highlights the contribution of the study as well as the structure of presentation for the rest of the thesis. This chapter seeks to provide an overview of Nigeria along its socio-political and economic structures, being the main context of this study. It aims to provide a contextual background to situate the analysis in the following chapters of this study.
Sub-Saharan Africa has for the most part been the least developed region of the world. The region... more Sub-Saharan Africa has for the most part been the least developed region of the world. The region is often easily dismissed as backward and unable to channel its potentials to actual progress. At the wake of the new millennium, the narrative changed to a hopeful one, with an optimistic standpoint on the economic prospects based on the assumption that the region is on a “take-off” verge. As a result of the change in narrative, there has been a gradual renewed interest by investors, businesses and multinational companies which had hitherto withdrawn or completely stayed away from the region. This recent development, therefore, necessitates a closer examination of the changing narrative and the nature of the economic growth experienced by the region. This chapter traces the economic growth trajectory of the region since the independence era, interrogates the inclusiveness and productivity, as well as tries to identify the dynamics of the drivers of the changing narrative.
International transfers and foreign capital inflow remains a significant source of capital to fra... more International transfers and foreign capital inflow remains a significant source of capital to fragile state economies and developing economies in general. These transfers include but not limited to official development assistance (ODA), remittances and foreign direct investment (FDI) among others. The main objective of this study is to empirically investigate the interactions between capital flows (Remittances, FDI and ODA) in a fragile state using the case of Nigeria. The study tests for the complementarity or substitutability among these capital flows with the Autoregressive Distributive Lag (ARDL) estimation technique, using data over the period 1980 to 2015. The study found that remittances complement both FDI and ODA. Also, the study found that FDI and ODA are substitutes. However, after testing whether the level of economic development affects the interactions of capital flows, the study found that the complementarity and substitution vanishes as level of economic development ...
AFRICAN HUMAN MOBILITY REVIEW, 2015
International remittances have grown to become an integral source of finance for development. Exi... more International remittances have grown to become an integral source of finance for development. Existing literature posits that there is an association between remittances and growth in developing countries. Economic growth models highlight the importance of capital accumulation and high level financial flows, the inadequacy of which characterizes developing countries and often explains their fate. It is argued that remittances will provide a panacea to the serious poverty experienced in such developing economies by increasing financial flows and household income, which in turn stimulates consumption, savings, economic growth and ultimately development. The robustness of this relationship is, however, often questioned. Indeed, the propensity of remittances to achieve these aspirations very much hinges on the determining factors motivating the remitters and the magnitude of the remittances. Hence, given the significant flows of remittances to the developing countries, this study attemp...
Economic Research-Ekonomska Istraživanja, 2019
This study investigates the causal relationship between military expenditure and economic growth ... more This study investigates the causal relationship between military expenditure and economic growth by using a balanced panel of 35 African countries spanning 1990 to 2015. It uses the more recently developed bivariate heterogeneous panel causality, GMM and SGMM estimation techniques. The country-by-country causality results reveal:(i) no causal relationship between military expenditure and growth in seven countries; (ii) unidirectional causality from military expenditure to growth in two countries; (iii) unidirectional relationship from growth to military expenditure in fourteen countries; and (iv) bidirectional relationship in twelve countries. These findings imply: (i) that the seven African countries with no causality can pursue defence policy objectives independently from growth policy objectives; (ii) in the fourteen countries, the fact that growth causes military expenditure and not vice versa implies that, defence decisions are not made in a way as to relatively promote growth; (iii) two African countries effectively use military expenditure for growth aims, hence military expenditure causes growth; and (iv) the bidirectional causality in the 12 countries implies that both growth and defence policy objectives can be pursued together. The GMMs results show that military expenditure has a significant negative impact on growth in Africa.
Financial Innovation, 2018
Background: Given the shale oil glut that culminated in the most recent and continuing oil price ... more Background: Given the shale oil glut that culminated in the most recent and continuing oil price drop from June 2014 and the global financial crisis of 2008 that triggered a cyclical downturn in oil prices and stock market activity, this study investigates the impact of Brent oil price shocks on oil related stocks in Nigeria. Methods: This study uses a vector autoregressive (VAR) model with the impulse response function and the forecast variance decomposition error. Findings: The empirical evidence reveals that oil price shocks have a negative impact on Nigerian oil and gas company stocks. In theory, this situation should apply to oil importing countries and is therefore uncharacteristic of an oil exporting country like Nigeria. Conclusions: The findings suggest that oil companies operating in Nigeria should diversify their investments to protect their business from single-sector market forces, and can also embrace the advantages of outsourcing some of their operations to specialist providers to increase flexibility and reduce operating costs. Finally, for vertically integrated oil and gas companies, oil price hedging and energy risk management will be beneficial because it will mean that these companies will take a position in the crude oil futures market. This will allow for better cash flow management and flexibility. Originality/value: This study extends the existing literature in two distinct ways. First, it provides, to the best of our knowledge, the first examination of the impact of oil price shocks on stock market activities with a focus on the market returns of oil and gas companies listed in the Nigerian Stock Exchange. Second, this study uses daily data because high frequency data contain more information than lower frequency data does, and lower frequency data average out too much important information.
Financing Sustainable Development in Africa, 2018
However, problems including high transportation costs, trade barriers (exports), Need to retain s... more However, problems including high transportation costs, trade barriers (exports), Need to retain strategic control, protect technological know-how (Licensing, franchising) make FDI favorable over other modes of entry. A firm that engages in FDI becomes a multinational enterprise (MNE)
Asian Research Journal of Arts & Social Sciences, 2017
Gender challenges in career remains a deterrent to career progression and has largely affected th... more Gender challenges in career remains a deterrent to career progression and has largely affected the female population in the workplace environment. In Nigerian society, women have a quite significant socio-cultural role. This study, therefore, examined the understandings of women academics on the cultural family issues that serve as barriers to their careers. The study is a contribution to the existing literature on women academics' career experiences which have been less investigated in developing countries compared to the developed ones. In doing this, the study tried to provide explanations to the impact of cultural family roles of women in achieving progression in their careers, using the Federal College of Education (Special) Oyo, Nigeria as a case. The study utilized a mixed research approach to investigate this relationship. The qualitative data was used to corroborate quantitative findings. The study found that the socio-cultural roles of women as wives and mothers play a crucial role in their career progression as academics. The impact of a partner's support plays a crucial role in either the academics family or her partners
British Journal of Economics, Management & Trade, 2017
This work was carried out in collaboration between all authors. Author RUO designed the study, de... more This work was carried out in collaboration between all authors. Author RUO designed the study, developed the methodology and wrote the first draft of the manuscript. Author TJL managed the literature searches and the econometric analysis of the study while authors AA and SOI did the revised conceptual framework. All authors read and approved the final manuscript.
Policy reform debates in African economies often focus on poverty alleviation programs, liberalis... more Policy reform debates in African economies often focus on poverty alleviation programs, liberalisation of trade and market and social service provisions. These reforms are heavily dependent on funding from either foreign sources or natural resource wealth, accompanied with concessions from the East and conditionality laden Western sources. They rarely optimally explore the internal fiscal revenue sources of their economy and as such undermines the fiscal prowess of their economies. Despite the less desirable situation, most resource-dependent African economies have found themselves, the elite political class in these countries still engage in wasteful expenditure pattern. The question of demand for accountability and good governance is rather ambiguous to the majority of the electorate as there is often a weakfiscal contract between them and the elite political class. The acknowledgement of this gives politicians an \"incentive\" to perpetuate corrupt activities which enri...
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Papers by Temitope laniran