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All Journal Unisia
Ojonta, Obed I.
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Religion Humanities Economics, Econometrics & Finance Education Social Sciences

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The Effects of Institutional Quality and Human Capital Development on Economic Complexity in Africa: Empirical Evidence from Panel Data Analysis Ojonta, Obed I.
Unisia Vol. 42 No. 1 (2024)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/unisia.vol42.iss1.art1

Abstract

The present study intends to investigate how the complexity of the economy responds to human capital investment and institutional development in Africa by employing the system GMM on panel data comprising 31 African economies over the period 2011-2020. However, earlier studies tended to ignore these interdependencies. More critically, our results indicate that the development of human capital enables the economic complexity in Africa. On the other hand, governance institutions’ quality in terms of control of corruption, voice and accountability, political stability, and the absence of violence and terrorism do not have any impact on economic complexity. Their effect on governance remains insignificant if governance is measured via government effectiveness, regulatory quality, and the rule of law. This research highlights the importance of diversifying African economies by promoting human capital investments and governance reforms that reduce corruption, ensure transparency and accountability in government, and stabilize politics. Our results also show that infrastructural development and GDP per capita are the major drivers of economic complexity in Africa, whereas international tourism appears to have a significant negative effect. Therefore, we provide several policy suggestions to reflect these insights.
Investigating the Effects of Tourism and Remittance Inflow on Economic Growth in Nigeria Ojonta, Obed I.; Eze, Chikodili; Nebo, Ifeanyi Kennedy; Eze, Afamefuna Angus
Unisia Vol. 42 No. 2 (2024)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/unisia.vol42.iss2.art9

Abstract

The importance of economic growth in stimulating the overall production of goods and services cannot be overemphasized. The tourism sector and remittance inflow have been found to be relevant factors in explaining Nigeria's economic growth dynamics. To this end, this study focuses on investigating the effects of tourism and remittance on economic growth in Nigeria. The present study is different from the existing studies in two ways. First, this study employed the ordinary least square technique and dataset from 1981 to 2021. Second, our study adopted two variables: personal remittances and number of tourism arrivals. These variables were used to measure remittance inflow and tourism. The study revealed that tourism and remittance inflow are positive and significantly impact economic growth in Nigeria. This suggests that tourism and remittance inflow offer important channels for promoting economic growth. Hence, the policy recommendations from this study are based on our findings.
The Influence of Delayed Payment Obligation on Purchase Decision of Household: Evidence from Nigerian Data Ojonta, Obed I.
Unisia Vol. 40 No. 2 (2022)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/unisia.vol40.iss2.art7

Abstract

The purpose of this study is to examine how delayed payment obligation influences household purchase decision in Nigeria. Unlike the large of existing studies, this study used binary regression model estimation and draws a dataset of 2019 General Household Survey with sample size of 2911 household for the analysis. The stylized facts from the dataset revealed more share of rural household than their counterparts in urban household. Interestingly, the results show that delayed payment obligation is positive and significantly influence purchase decision of household in Nigeria. But when the household is disaggregated into rural and urban household, the result shows that some household that barrowed from friends and family and household that reduced food consumption expenditure have positive and significant influence on purchase decision in both rural and urban household while household that received assistance from friends and family has positive and significant influence on purchase decision by rural household. This study recommends delayed payment obligation for important factor to drive purchase decision by household. This could be achieved through policy formulation that will promote delayed payment obligation.
Co-Authors Eze, Afamefuna Angus Eze, Chikodili Nebo, Ifeanyi Kennedy