Economics Commons^™

Youth Education, Unemployment And Entrepreneurship In Nigeria: Pointers For Accessing Sdg Goal 8, Tomilade Olominu

Young African Leaders Journal of Development

There exist a link between the youth and education-employment-entrepreneurship. This link expresses an age-long interaction and futuristic tendencies. It is such that the education of the youth determines their employability. Youth unemployment has however pervaded the make-up of the Nigerian society as such youth have resorted to entrepreneurship. Entrepreneurship or entrepreneurship education has gained general empathy as the solution to tackling unemployment. In the event of Sustainable Development Goal 8 which aims at promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all men and women regardless of their capabilities and incapabilities, how can …

Feminal Rights, Empowerment And Protection, Ugochukwu Mercy Prince-Ifoh

Young African Leaders Journal of Development

The rights of the girl child, her empowerment and protection have always been a major deliberation in the world - especially in Africa. The African cultures and traditions have greatly affected feminism; the woman's rights and her protection. Women and girl children residing in some northern parts of Africa are more affected because they have little or no protection at all. They also don't have access to education - whether quality or otherwise. There is the socioeconomic need to continually uphold the rights of the girl child and the average woman in Africa. My paper, above all, tries to emphasize …

Historiography: Challenges And The Pertinence Of History, Onagbesan Adewale

Young African Leaders Journal of Development

The concept of historiography has been defined, explained and analyzed by various scholars, as its meaning and scope is varying. Also, the concept of historiography within historical scholarship has been faced by differing challenges in the writing and reconstruction of Africa's historical past, hence, making the discourse on the pertinence of History as a concept and discipline, a subject of bickering. This paper aims to concisely explain the concept of Historiography in respect to the views of different scholars, stressing the various challenges associated with the reconstruction of Africa's past events, as well as, establishing the level of importance of …

Balancing Inward Oriented Strategies With Outward Oriented Strategies: A Case For Nigeria's Industrialization, Tosin K.W. Gbadegesin

Young African Leaders Journal of Development

The World Bank has over the years urged poor nations to adopt development strategies which emphasize export promotion. The first group of developing countries to shift from an inward-oriented to outward-oriented approach to development were located in the far east, specifically Taiwan, Singapore and South Korea. But, with export-led growth, firms produce according to their long-term comparative advantage. Nigeria in recognition of the importance of industrialization to economic growth and development has adopted various policies, incentives and schemes since her independence to promote industrialization. This paper therefore posited that there is more than one approach to the problem rocking Nigeria's …

Afcfta 2018: The Continental Free Trade Area, Neo-Liberalism And Africa's Resource Curses, Lenin Tinashe Chisaira

Young African Leaders Journal of Development

In March 2018, 44 Member States of the African Union signed up to the African Continental Free Trade Agreement (AfCFTA) in Kigali, Rwanda. There are many legal, social and policy issues to consider whenever Africa discusses either free trade or resource governance. There have been grave economic miscalculations in Africa's history. The article argues for a central emphasis on Pan-African economic and social solidarity and takes a frank look at some of the fundamental principles guiding contemporary neo-liberal economic institutions and critiques how these have treated Africa and African resources. The article describes some of the challenges and opportunities presented …

When The State Turns Against Its Own Citizens: Revisiting Police Brutality As An Obstacle To Peace And Development In Zimbabwe, Tendaishe Tlou

Young African Leaders Journal of Development

This analysis comes at a strategic yet uncertain period in Zimbabwe when the nation is going through a political transition. A lot ofuncertainty surrounds the outcome of this transition. Since the 1980s, Zimbabwe has been entrenched in a plethora of crises including vast human rights abuses hinged on pervasive police brutality. The police have increasingly become predatory against the Zimbabwean populace, followed by disappearances of human rights defenders and activists. Elections have always been marred by political violence perpetrated by both State and non-state actors to the detriment of human rights and good governance. Whilst the leadership in the governing …

Escaping On Uncertain Tides To Uncertain Jurisdictions: Explaining Root Causes Of A Persistent Trend Across The Mediterranean, Thomas Brown

Young African Leaders Journal of Development

Thousands have died in their quest to cross the Mediterranean to some countries in mainland Europe. These voyages have been attributed to many believable reasons: escaping violence or economic hardship according to reports by transnational non-governmental organizations and intergovernmental organizations. Can we attribute these voyages, wholly, to economic factors and conflicts? What is the root cause of these travels that defy rationality? I argue in this paper that accounts by migrants is just like showing us a storey building standing at its basement. And that the root cause of escaping on uncertain tides to uncertain jurisdictions is fundamentally the politics …

Girl Child Education For Inclusive Sustainable Development, Mollin Mandaza

Young African Leaders Journal of Development

The socio-economic marginalization of females derived from gender disparities, lack of access and quality education leads to subsequent youth unemployment, working poverty, poor standards of living, diminished career choices, unequal salaries and economic exclusion. It is therefore imperative for leaders and governments to invest in girl-child education for Africa's development by castigating gender-based violence, sexual discrimination, gender stereotypes and obliterating early-child marriage. The blatant repudiation of girl's fundamental rights to access equal and quality education is the indictment of a continent that has failed young women and their broader continuous struggle for emancipation, equality and power. This paper lays out …

Hydropower Development And Regional Integration In The Greater Horn Of Africa, Temesgen Aschenek Zeleke

Young African Leaders Journal of Development

Inadequate and poor regional infrastructure networks posed an impact for escalation of insecurity and political instability in the greater horn of Africa. To deal with such problems, filling resource gaps through sharing resources in the way that maximizes mutual benefit is the major approach to be implemented. In this respect, fostering interdependence through infrastructural development of power interconnections is a best mechanism for energy led integration in the region. The purpose of this article is to analyze the major roles that Ethiopian hydropower development is playing in regional integration schemes. To this end, qualitative research methodology is employed to investigate …

Employability Education: The Nexus Between Education And Market Needs, Elmohanad Elsayad

Young African Leaders Journal of Development

This paper aims to focus on the literature of employability skills education. The research done investigates the compelling reasons behind the need for employability skills education as a means to achieving economic development. First, the research shows us evidence that there is a gap between education and market needs. It uncovers how the phenomenon of a massive increase in enrollment rates did not actually achieve the desired outcomes in terms of economic development. Following this, the research shows us that the need for anew strategy to connect studying with reality has become pressing. Next, the research further digs into the …

Policy Implications Of The Disruptive Impact Of China's Slowdown On Commodity Trade With The Developing World, Peaceful Mathebula

Young African Leaders Journal of Development

The economic relations between China and developing mineral-rich countries have primarily been on the bases of the mineral resources of these developing countries. Hence, China's rapid economic growth ofrecent had positive disruptive impacts on these developing States. Conversely, China's economic recline more recently has had adverse, disruptive effects on these developing States. Based on the findings of the spillover effects of this decline in SA's mineral export value to China, this paper aims to instigate the policy-makers of these developing States (including SA) to see the need for their current policies to be re-assessed. This re-assessment is for determining whether …

The Impact Of Entrepreneurship Education On Self-Employment Initiatives Among Fourah Bay College Students, Kamara Abdulsalam

Young African Leaders Journal of Development

Entrepreneurship education is a catalyst for the diminution of unemployment in Sierra Leone. The study evaluates the causal nexus between entrepreneurship education and self-employment initiatives among Fourah Bay College students. Using regression analysis, data collected were primary data through the administration of questionnaires and simple percentage ranking techniques were used to analyze the questionnaires. The result shows that entrepreneurship education is an important policy and it has positive effect on self-employment initiatives. From the study, the following are some of the recommendations: The University of Sierra Leone should establish a center for entrepreneurship and innovation that will offer degree programs …

Foreign Direct Investment Regulation: Should Africa Avoid Performance Requirement?, Marga F. Angerasa

Young African Leaders Journal of Development

This article assesses how African states should regulate Foreign Direct Investment (FDI). In particular, it focuses on whether African states should employ or avoid performance requirements as mechanism of regulation of FDI. The imposition of performance requirements, also known as operational requirements, in IIAs remains controversial. There is no consensus either on their effectiveness in helping countries to promote development, or in their distorting effects. Some host developing countries consider performance requirements to be an effective policy tool for enhancing the benefits of FDI and consider their disciplining to be undue interference with their policy space. In this paper argues …

Young African Leaders Forum (Yalf) Projects, Teresa Abila

Young African Leaders Journal of Development

The Young African Leaders Forum (YALF) is an independent pan-African organisation whose major objective is to effectuate sustainable development in every African nation. We achieve this by detecting the root causes of Africa's developmental problems, researching and proffering workable solutions to them as well as executing these strategic solutions. We also work to empower Africa's young people to participate actively in the society so that they can improve their own lives by representing and solving their needs whilst also advocating for those of others. Our organization is incorporated and headquartered in South Africa - and has members and representations in …

Challenges Of Sustainable Urban Governance In Africa, Urban Informality In Zimbabwe, Darlington Tshuma, Clifton Dawanyi

Young African Leaders Journal of Development

The paper discusses the challenges associated with sustainable urban governance in Zimbabwe. Urban formality in Zimbabwe, while it has roots in the colonial period, intensified in the last decade of the 20th century with the adoption of Structural Adjustment Programs (SAPs) that sought to restructure the economy through massive cost cutting budgetary measures. It later exacerbated post-2000 with the decline of the formal economy which threw thousands into the informal economy. In the face of growing urban informality, the governement of Zimbabwe has exhibited a hostile attitude towards the informal sector, often inconsistent with the situtation obtaining on the ground. …

The Exporting And Subcontracting Decisions Of Viet Nam's Small- And Medium-Sized Enterprises, Catherine Y. Co, Thu Kim Nguyen, Tung Nhu Nguyen, Que Nguyet Tran

Economics Faculty Publications

The exporting and subcontracting decisions of a panel of Vietnamese private small- and medium-sized enterprises is investigated. We find that among subcontractors, subcontracting is a supplementary rather than primary activity; the propensity to export increases with managers' or owners' knowledge of customs law; and, there is some evidence that subcontractors are more likely to have made product improvements while exporters are more likely to have adopted new processes or technologies. Our study provides useful insights into SME exporting and subcontracting strategies made more relevant by the expected reductions in trade costs associated with the World Trade Organization's Trade Facilitation …

How Does Prior Lucky Event Affect Individual’S Risk Taking Preference?, Yuen Zhan Wong

Bachelor of Social Sciences – Senior Theses

We conducted a controlled experiment with Philippines domestic helpers and Lingnan undergraduate students to study if prior “lucky” event will increase their risk-taking behaviour. The major finding from our study is that prior lucky events do increase risk-taking behaviour among Philippines domestic helpers but not for students. Our study also found out that there are inconsistent behaviour of interviewees while choosing for options indicating their risk preference and this degree of inconsistency is greater among the Philippines group compared to the students group.

Macroeconomic Disagreement In Treasury Yields, Ethan Struby

Department of Economics Working Paper Series

I estimate a term structure model of Treasury yields in which traders’ informa- tion about macroeconomic conditions is dispersed. Bond yields and inflation forecasts identify properties of traders’ information. I find that prices are moderately infor- mative about economic fundamentals, but more informative about policy and others’ beliefs. Nevertheless, beliefs about the macroeconomy are estimated to be quite het- erogeneous. Over the sample period, dispersed beliefs directly added an average of 60 basis points to ten year yields, mostly attribute to disagreement about the Federal Re- serve’s inflation target. Accounting for learning and belief heterogeneity dramatically reduces the magnitude and …

Sensitivity Analysis Using Approximate Moment Condition Models, Timothy B. Armstrong, Michal Kolesár

Cowles Foundation Discussion Papers

We consider inference in models defined by approximate moment conditions. We show that near-optimal confidence intervals (CIs) can be formed by taking a generalized method of moments (GMM) estimator, and adding and subtracting the standard error times a critical value that takes into account the potential bias from misspecification of the moment conditions. In order to optimize performance under potential misspecification, the weighting matrix for this GMM estimator takes into account this potential bias, and therefore differs from the one that is optimal under correct specification. To formally show the near-optimality of these CIs, we develop asymptotic efficiency bounds for …

Countering The Winner’S Curse: Optimal Auction Design In A Common Value Model, Dirk Bergemann, Benjamin Brooks, Stephen Morris

Cowles Foundation Discussion Papers

We characterize revenue maximizing mechanisms in a common value environment where the value of the object is equal to the highest of bidders’ independent signals. If the object is optimally sold with probability one, then the optimal mechanism is simply a posted price, with the highest price such that every type of every bidder is willing to buy the object. A sufficient condition for the posted price to be optimal among all mechanisms is that there is at least one potential bidder who is omitted from the auction. If the object is optimally sold with probability less than one, then …

Gender And Labor Markets In Tunisia's Lagging Regions, Lucie Hanmer, Edinaldo Tebaldi, Dorte Verner

Economics Faculty Book Publications

No abstract provided.

Borderplex Business Barometer, Volume 2, Number 11, Thomas M. Fullerton Jr., Omar Solís, Aaron Nazarian, Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

Montana's Outfitting Industry - 2017 Economic Contribution And Industry-Client Analysis, Jeremy L. Sage, Carter Bermingham, Norma P. Nickerson

Institute for Tourism and Recreation Research Publications

In recent years, nonresident visitor spending on outfitters and guides has surpassed that of spending on retail goods, making it the fourth highest spending category behind only fuel, lodging, and dining out. This rise comes despite only five to six percent of the visiting population taking part in these activities. This observation reiterates findings from the 2007 Montana Outfitter and Guide study characterizing the outfitting industry as high value, low impact.

Though a small percent of visiting groups take part in some type of guided or outfitted experience, those who do stay longer and spend more per day. In 2017, …

Partisan Conflict And Stock Price, Dashan Huang, Wang Liyao

Research Collection Lee Kong Chian School Of Business

Partisan conflict has been one dominant theme in U.S. politics in recent years. By using the textual index of Azzimonti (2018), this paper shows that partisan conflict positively predicts market returns, controlling for economic predictors and proxies for uncertainty, disagreement, geopolitical risk, and political sentiment. A one standard-deviation increase in partisan conflict is associated with a 0.58% increase in next month market return. The forecasting power concentrates in periods when the president is from the Republican Party or the majority of House is Republicans. Partisan conflict is positively related to downside risk, and makes investors more conservative when its value …

Revisiting The Foundations Of Dominant-Strategy Mechanisms, Yi-Chun Chen, Jiangtao Li

Research Collection School Of Economics

An important question in mechanism design is whether there is any theoretical foundation for the use of dominant-strategy mechanisms. This paper studies the maxmin and Bayesian foundations of dominant-strategy mechanisms in general social choice environments with quasi-linear preferences and private values. We propose a condition called the uniform shortest-path tree that, under regularity, ensures the foundations of dominant-strategy mechanisms. This exposes the underlying logic of the existence of such foundations in the single-unit auction setting, and extends the argument to cases where it was hitherto unknown. To prove this result, we adopt the linear programming approach to mechanism design. In …

The Grid Bootstrap For Continuous Time Models, Yiu Lim Lui, Weilin Xiao, Jun Yu

Research Collection School Of Economics

This paper considers the grid bootstrap for constructing confidence intervals for the persistence parameter in a class of continuous time models driven by a Levy process. Its asymptotic validity is established by assuming the sampling interval (h) shrinks to zero. Its improvement over the in-fill asymptotic theory is achieved by expanding the coefficient-based statistic around its in fill asymptotic distribution which is non-pivotal and depends on the initial condition. Monte Carlo studies show that the gird bootstrap method performs better than the in-fill asymptotic theory and much better than the long-span theory. Empirical applications to U.S. interest rate data highlight …

Potential Crime Risk And Housing Market Responses, Seonghoon Kim, Kwan Ok Lee

Research Collection School Of Economics

We study how information on local (dis)amenities is transmitted and manifested in housing markets. Using nationwide data on multifamily homes in South Korea, we analyze heterogeneity in the effect of a sex offender's presence on sale prices and rents of nearby homes. Our results demonstrate that the price effect of the offender's move-in varies significantly by spatial context. People react more strongly and persistently to the move-in of the offender in places wherein indicators of social connectedness are stronger, such as places with relatively low population density. We also find that, unlike housing prices, rents do not change in response …

Identifying Latent Grouped Patterns In Cointegrated Panels, Wenxin Huang, Sainan Jin, Liangjun Su

Research Collection School Of Economics

We consider a panel cointegration model with latent group structures that allows for heterogeneous long-run relationships across groups. We extend Su, Shi, and Phillips’ (2016) classifier-Lasso (C-Lasso) method to the nonstationary panels and allow for the presence of endogeneity in both the stationary and nonstationary regressors in the model. In addition, we allow the dimension of the stationary regressors to diverge with the sample size. We show that we can identify the individuals’ group membership and estimate the group-specific long-run cointegrated relationships simultaneously. We demonstrate the desirable property of uniform classification consistency and the oracle properties of both the C-Lasso …

Change Detection And The Causal Impact Of The Yield Curve, Shuping Shi, Peter C. B. Phillips, Stan Hurn

Research Collection School Of Economics

Causal relationships in econometrics are typically based on the concept of predictability and are established by testing Granger causality. Such relationships are susceptible to change, especially during times of financial turbulence, making the real-time detection of instability an important practical issue. This article develops a test for detecting changes in causal relationships based on a recursive evolving window, which is analogous to a procedure used in recent work on financial bubble detection. The limiting distribution of the test takes a simple form under the null hypothesis and is easy to implement in conditions of homoskedasticity and conditional heteroskedasticity of an …

Threshold Regression Asymptotics: From The Compound Poisson Process To Two-Sided Brownian Motion, Ping Yu, Peter C. B. Phillips

Research Collection School Of Economics

The asymptotic distribution of the least squares estimator in threshold regression is expressed in terms of a compound Poisson process when the threshold effect is fixed and as a functional of two-sided Brownian motion when the threshold effect shrinks to zero. This paper explains the relationship between this dual limit theory by showing how the asymptotic forms are linked in terms of joint and sequential limits. In one case, joint asymptotics apply when both the sample size diverges and the threshold effect shrinks to zero, whereas sequential asymptotics operate in the other case in which the sample size diverges first …