IOSR Journal of Economics and Finance (IOSR-JEF)

Volume 3 - Issue 5

Paper Type : Research Paper
Title : Boko Haram Activities: A Major Set Back to Nigerian Economic Growth.
Country : Nigeria
Authors : Odita Anthony Ogomegbunam, Akan David
: 10.9790/5933-0350106  logo

Abstract:Wide scale violence and insurgencies are particularly disturbing because they directly impact negatively on the process of economic growth and affects adversely the levels of economic activities and productivity of a country. The study examines the effects of the recent wave of insurgencies created by the Boko Harem sect in Nigeria. The paper, thus, explores the Boko Haram menace and their implications on the nation's stability. Findings are concieved as impacts of the Boko Harem insurgence on the economic lives of Nigerian people. The paper recommends among others the need for government to improve on the state of security with all machineries at her disposal that will help identify, unravel, forestall and prosecute Boko Harem insurgents.

Keywords: Boko Harem, Boko Harem insurgencies, Boko Harem sect, Economic activities, Economy growth.

[1]. AllAfrica. (2012) "Nigeria: Kidnapped German, Six Gunmen Killed as JTF Invades Boko Haram's Den". http://allafrica.com/stories/2016010222. Retrieved 2012 - 6- 26
[2]. Ayo (2012), "Boko Haram issues three-day ultimatum to christians". The Vanguard (Lagos) (Vanguard Media Limited). http://en.wikipedia.org/wiki/Boko_Haram Retrieved 14 March 2012.
[3]. BBC News (2009) "Nigeria's 'Taliban' enigma".. http://news.bbc.co.uk/2/low/Africa/8172270.stm Retrieved 2011-07-28
[4]. --------- (2011) "Nigeria Boko Haram attack 'kills 63' in Damaturu". http://www.bbc.co.uk/news/world-africa-14677957. Retrieved 2011-11-05.
[5]. ---------- (2011) "Nigeria churches hit by blasts during Christmas prayers". http://www.bbc.co.uk/news/word-africa/16328940. Retrieved 25 December 2011.
[6]. ---------- (2012) "Nigeria: Boko Haram claims Kaduna army suicide attack". http://www.bbc.co.uk/news/word-africa/16942694. Retrieved February 8, 2012.
[7]. Cocks, Tim (2012). "Nigeria army says kills 11 Boko Haram insurgents". Reuters. http://www.reuters.com/article/2012/01/28/ . Retrieved February 27, 2012.
[8]. Lister, F.(2012) "Christians flee attacks in northeast Nigeria". http://www.trust.org/alertnet/news/christains-flee-attack-in-northeast-nigeria/. Retrieved 7 January 2012.

Paper Type : Research Paper
Title : Opportunity cost of Nigeria's external reserves
Country : Nigeria
Authors : Udo, Aniefiok Benedict; Antai, Agnes Syvester
: 10.9790/5933-0350716  logo
Abstract: The external reserve-economy relationship argument has generated debate due to unsatisfactory theoretical and empirical consensus. There is an ongoing debate on whether having large holding of international reserves is beneficial or not. The critics' main argument is that those resources could and should be used in a more productive manner to develop the domestic economy. In Nigeria, in spite of successfully guiding the economy to a stable inflation rate of 15.1 in 2008 in the face of an unprecedented growth of external reserves the overall domestic picture has remained stark.
[1]. Abdullateef and Waleved (2010). External Reserve holdings in Nigeria: Implications for investment, inflation and exchange rage: Journal of Economics and International finance vol. 2 (9).
[2]. Aizenmann, J. (2002) "The High Demand for International Reserves in the Far East: What's Going On?" Working Paper, UC Santa Cruz and the NBER; Dartmouth College.
[3]. Aizenman, Joshua & Marion, Nancy P., 2003. "International Reserve Holdings with Sovereign Risk and Costly Tax Collection," Santa Cruz Center for International Economics, Working Paper Series qt9s7978n1, Center for International Economics, UC Santa Cruz
[4]. Aizenman, J. & Marion, N. (2003). The high demand for international reserves in the Far East: What is going on? Journal of Japanese and International Economies, 17:370–400.
[5]. Aizenman J, Marion N (2004). International Reserve Holdings with Sovereign Risk and costly tax collection" Economic. Journal. 24: 357-370.

Paper Type : Research Paper
Title : Role of Infrastructure in the Growth of Agriculture in Punjab
Country : India
Authors : Mr. Palwinder Singh, Dr. Jasmindeep Kaur
: 10.9790/5933-0351720  logo
Abstract: Punjab is a small occupying 1.54 per cent of the geographical area of the country but having a major share in foodgrains production especially wheat and paddy towards the central pool. The growth of agriculture sector has been closely associated with the well known 'Green Revolution' and adoptions of high varieties of seeds and growth in agri- infrastructure in the state of Punjab. Agriculture infrastructure affects the basic economic functions of production, marketing and consumption in a variety of ways. This paper investigates the relationship between institutional agri- infrastructure and volume of agriculture production through coefficient of correlation analysis.
[1]. Barman, K.R. and Deka, H.C. (1995), "Role of Marketing Institution in Market regulation in Assam", Indian journal of Agriculture Marketing, (conference special), pp.90-96.
[2]. Bhalla, G.S. and Singh G. (1997), "Recent Development in Indian Agriculture: A state Level Analysis", Economic and Political Weekly, Vol. 32, No. 13, PP. 2-18.
[3]. Bhatia, M.S. (1999), "Rural Infrastructure and Growth in Agriculture", Economic and Political Weekly, Vol. 34, No. 52, PP. 43-48.


Paper Type : Research Paper
Title : Human Resource Development in Indian Railways - An Overview
Country : India
Authors : V. Rajeswari, K. Santa kumari
: 10.9790/5933-0352128  logo
Abstract: Service sector in India consists of a wide variety of services such as electricity, water supply, road, rail and air transport etc which provides a vast opportunities for HRD. Indian Railways is the backbone of service sector and one of the biggest employers in India. Indian Railways is one of the gigantic public undertakings enriched with fixed assets. viz: 64015 Route Kilometers, 7030 Railway Stations while the Railway Bridges are 1,30,776 in number. About 29 percent of total route kilometers has electrification network in Indian Railways. The Indian Railways Fleet is substantial with 4963 Diesel Traction, and 3586 Electrical Traction, while 2, 11,763 Wagons, and 49110 Passenger service Vehicles.
[1]. Human Resource Management, Raymond A Noe and Patrick McGraw hill, COMPANIES, INC, 1997.
[2]. Personnel Management by C.B. Mamoria. Himalaya publications, New Delhi.
[3]. Statistical Techniques of Manpower Planning and Forecasting Suddhendu Biswas, 1996, New Age International Polishers. New Delhi.
[4]. TRIPATHI P.C.,"Human Resource Development": Sultan Chand and Sons, 2010, Pg. no. 44
[5]. OVASDI J. M., "Railway Administration and Management": Deep and Deep, 1990, Pg. no. 215

Paper Type : Research Paper
Title : Effect of FDI and Some Macroeconomic Indicators on Exports in Jordan 1990-2010
Country : Iraq
Authors : Sabah Al Mihyawi
: 10.9790/5933-0352936  logo
Abstract: Developing countries has not enough resources to finance the investments needs. FDI through the right investments climate is one way to cover the deficit. However, this is not enough in the process of economic development without economic reform policies. There are many factors affecting foreign direct investments, including elements of the macroeconomic factors and attract investments then impact on foreign trade. This paper is trying to highlight briefly on each of the exports and both of FDI and some macroeconomic indicators which are gross product domestic, interest rate, and openness trade. In additional to a statement their relationships for a period of study over 1990 through 2010 in Jordan using time series date analysis. I used the simple ordinary least square (OLS) regressions and the empirical analysis is conducted by using annual data on FDI and other variables over the periods 1990 to 2010. The panel data estimation confirms the negative role of FDI inflows in exports..
[1]. Ammar, K (2010). "Determinants of Foreign Direct Investment the Case of Jordan", LAP LAMBERT Academic ppublishing working paper, Germany, p.39.
[2]. Fathi, S (2011), "After the global financial crisis on the styles, promotional exports of Jordan (A field study on the sector, clothing and textiles)", Paper prepared for the entitled the challenges facing business organizations today, the global financial crisis and future prospects conference, Jordan.
[3]. Joint Arab Economic Report (2001, 2009)
[4]. Jordan Investment Board (2012)

Paper Type : Research Paper
Title : The Impact of Foreign Direct Investment on Economic Growth in Nigeria.
Country : Nigeria
Authors : Fredrick Onyebuchi Asogwa (PhD) . Manasseh, Charles Osondu
: 10.9790/5933-0353745  logo
Abstract: This study investigates the impact of FDI on economic growth. Quarterly data is used and covers the period 1980Q1-2009Q4. Endogenous growth model is employed for the study with emphases on the impact of FDI inflow into agriculture, manufacturing and telecommunication sectors in Nigeria. However, the study also examines the direction of causality between FDI inflow into these sectors and economic growth. In addition, the study further investigate the influence of business environment - political instability (PI), corruption (CRPINDX), institution/legal framework (LEGFRWK) proxied by FH, 2001, suggested by work of Sala-i-Martin (1997) and Barro and Lee (1994) and macroeconomic indicators such as inflation (INF), real interest rate (RINTR) and real exchange rate (RER) on the inflow of FDI. The empirical evidence shows that FDI into manufacturing and telecommunication sector has positive impact on economic growth in Nigeria while FDI into agricultural sector impacted on economic growth negatively. The findings on granger causality suggest that FDI into agriculture, manufacturing and telecommunication sector have a unidirectional relationship with economic growth in Nigeria. Institution or legal framework has positive and significant influence on the inflow of FDI, hence suggesting the need for strong legal framework for property right protection could serve as an incentive to attract more foreign investors. Political instability and real exchange rate significantly and negatively influences the inflow of FDI vis-a-vis signifying the importance of friendly business environment in the country.
Keywords: Investment, Business, environment, Causality, Macroeconomic, institution, Instability, corruption

[1]. Adelegan, J.O. (2000), "Foreign direct investment and economic growth in Nigeria: A seemingly unrelated model". African Review of M oney, Finance and Banking, Supplementary issue of "Savings and development" 2000. pp.5–25. Milan, Italy.
[2]. Akinola, A.E. (2004), "Foreign direct investment and growth in Nigeria: A empirical investigation" Journal of Policy Modeling, vol. 26 No. 3 pp. 627- 39
[3]. Aluko, S.A. (1961), "Financing economic development in Nigeria". The Nigerian Journal of Economic and Social Studies, 3(1): 39–67.
[4]. Asiedu, E. (2003), "Capital controls and foreign direct investment" World Development, 32(3): 479–90.

[5]. Asiedu, E. (2005), "Foreign Direct Investment in Africa: The Role of Natural Resources, Market Size, Government Policy, Institution and Political Instability". UNU/WIDER Research Paper 2005/24.World Institute for Development Economics Research, Helsinki.


Paper Type : Research Paper
Title : Forecasting Weekly Auction of the 91-Day Treasury Bill Rates of Ghana
Country : Ghana
Authors : Francis Okyere. Salifu Nanga
: 10.9790/5933-0354653  logo
Abstract: A Treasury Bill is a short term investment product offered by the Bank of Ghana on behalf of the government. An investor in Treasury Bills lends his/her idle funds to the government at a fixed interest rate for either 91, 182 or 364 days. In this study we employed univariate time series Autoregressive Integrated Moving Average (ARIMA) model to forecast government 91-Day Treasury Bill rates for the next eighteen (18) weeks in Ghana in 2014 using Box Jenkins approach. The results showed that ARIMA (2,0,1) model was appropriate for modelling the weekly auction of 91-Day Treasury Bill rates with a maximum log likelihood value of 246.42, and least AIC value of -482.83, AICc value of -482.14 and BIC value of -470.23. An ARCH-LM test and Ljung-Box test on the residuals of the models revealed that the residuals are free from heteroscedasticity and serial correlation respectively. Therefore investors can plan their future investments by considering the future behavior of the 91-Day Treasury Bill rates for next eighteen (18) weeks.
Keywords: ARIMA model, Bank of Ghana, Box Jenkins, Forecasting, Treasury Bill rates
[1] A. Amevor, Investment: How to create wealth on the stock market (Ghana, Combert Impressions, 2005).
[2] C. Jones, A century of stock market liquidity and trading costs (Columbia University, New York, NY, 2001).
[3] D.M.K.N. Seneviratna and Mao Shuhua, Forecasting the Twelve Month Treasury Bill Rates in Sri Lanka: Box Jenkins Approach, IOSR Journal of Economics and Finance (IOSR-JEF) 1(1), 2013, 44 - 47.
[4] F. E. Brigham and F. J. Houston, Fundamentals of Financial Managemen (ninth edition, 2001).
[5] F. Okyere and C. Mensah, Empirical Modelling and Model Selection for Forecasting Monthly Inflation of Ghana. Mathematical Theory and Modeling, 4(3), 2014, 99-106.

Paper Type : Research Paper
Title : Economic Impact of Water Pollution on Agriculture and Rural Households
Country : India
Authors : T. Sarathamani. K. Govindarajalu. Divya.K.R
: 10.9790/5933-0355457  logo
Abstract: The damage to land, river and groundwater is extensive and it has been caused by the industries of various types which in turn has led to an impoverishment of local villagers due to their consequent ill health and the degradation of their livelihood bases. Five villages which are very near to the industrial estate situated at Pollachi, Coimbatore district, Tamil Nadu viz; such as Makinampatti, Chinnampalayam, Chandrapuram, Unjavelampatti and Solapalayam have been selected for the study. The results of the study reports that he water bodies around the industrial area are highly polluted. The income - wise analysis showed that 66.92% of the respondents in the income group, Rs.5000-8000 and 44.92% of respondents in the income group, Rs.8000-12000 are facing all the problems of drinking water pollution.
Keywords: Pollachi, income group, industrial estate, local villagers
[1]. Allan, J. and Flecker, A. (1993); Biodiversity conservation in running waters. Bioscience, Vol.43, No.1, (January 1993), pp. 32-43, ISSN 0006-3568.
[2]. Das, J., and Achary, B. B. (2003). Hydrology and assessment of lotic water quality in Cuttack City, India. Water Air Soil Pollut., 150: 163-175.
[3]. Jonnalagada, S. B., and Mhere, G. (2001). Water quality of the river in the eastern highlands of Zimbabwe. Water Res., 35: 2371-2376.
[4]. Reddi, K. R., Jayaraju, N., Suriyakumar, I., and Sreenivas, K. (1993). Tidal flunctuation in relation in relation to certain physico-chemical parameters in Swarnamukkhi river estuary, East Coast of India. Ind. J. Mar. Sci., 22: 223-234.
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