{"title":"Macroeconomic and distributional consequences of energy supply shocks in Nigeria","authors":"A. Adenikinju, Niyi Falobi","doi":"10.4314/AJEP.V12I2.44179","DOIUrl":"https://doi.org/10.4314/AJEP.V12I2.44179","url":null,"abstract":"In spite of its vast oil endowments, Nigeria continues to experience sporadic domestic oil supply shortages. These oil shortages manifest in regular queues at fuel stations that are often empty and in thriving parallel markets that sprout all over the country. The shortages have resulted in huge economic and non-economic costs to the economy. This study investigates the causes of the shortages and provides quantitative estimates of the economic costs to the Nigerian economy using a survey and a computable general equilibrium (CGE) model. The findings from this study show very clearly that oil sector supply shocks are costly both directly and indirectly. Oil supply shocks result in lower real GDP, higher average prices and greater balance of payment deficits. Other macroeconomic variables such as private consumption, investment, government revenue and employment also decline. In addition, the distributional impact of the quantitative energy supply shocks is higher for poor households than rich households. We also find that the sectoral impacts are mixed, often depending on the oil intensity of the sector. Finally, our survey results show that many economic agents on the demand side are willing to pay higher prices if that will guarantee a stable oil supply. Few players in the market chain benefit from supply disruptions, while consumers and the poor bear the main burden of these shocks.","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132678580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Public expenditure and economic growth in Africa","authors":"Omo Aregbeyen","doi":"10.4314/AJEP.V14I1.44191","DOIUrl":"https://doi.org/10.4314/AJEP.V14I1.44191","url":null,"abstract":"","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129630417","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Privatisation and productive efficiency of firms in Nigeria","authors":"Ea Udeaja","doi":"10.4314/AJEP.V13I1.44183","DOIUrl":"https://doi.org/10.4314/AJEP.V13I1.44183","url":null,"abstract":"","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126695949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Factors affecting the decision to use organic manure(compost) in cereal production in Northern region of Ghana","authors":"S. Al-hassan","doi":"10.4314/AJEP.V14I1.44193","DOIUrl":"https://doi.org/10.4314/AJEP.V14I1.44193","url":null,"abstract":"","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"93 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130292002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Testing the displacement of savings hypothesis: Using new econometric methodology","authors":"Hk Chavula","doi":"10.4314/AJEP.V14I1.44192","DOIUrl":"https://doi.org/10.4314/AJEP.V14I1.44192","url":null,"abstract":"","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134442484","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Trade and investment policy reforms in Cameroon: Impact assessment and perspectives","authors":"E. Bamou, Lydie Bamou Tankoua, J. P. Tchanou","doi":"10.4314/AJEP.V13I1.44185","DOIUrl":"https://doi.org/10.4314/AJEP.V13I1.44185","url":null,"abstract":"The paper analyzes the links between liberalization of trade and investment policy reforms and economic growth in Cameroon within 1980-2004. After identifying trade and investment policy reforms and market access conditions, which appears to gear towards liberalization, it appears that their expected results are still awaited. However, facts from the costs/benefits analysis tend to confirm the literature assertion that their long term benefit effects are superior to their short term adjustment costs. Despite the improvement in market access conditions thanks to trade preferences, the country did not take full advantage of that opportunity as well as those offered by trade and investment policy reforms because of the remaining trade, investment, institutional and economic bottlenecks including poor governance and external and mostly internal supply constraints. The growth elasticity determinant forecast model results show that additional reforms in view to lift those constraints are necessary and indispensable to boost growth in Cameroon. TRADE AND INVESTMENT POLICY REFORMS IN CAMEROON: IMPACT ASSESSMENT AND PERSPECTIVES","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134311027","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Poverty and Child Farm Labor in Africa: Wealth Paradox or bad Orthodoxy","authors":"G. Nkamleu","doi":"10.4314/AJEP.V13I1.44181","DOIUrl":"https://doi.org/10.4314/AJEP.V13I1.44181","url":null,"abstract":"The link between poverty and child labor has traditionally been regarded as well established but recent researches have questioned its validity, suggesting that child labor is more important in the richest households (wealth paradox). The present study revisits the link between poverty and farm child labor in Africa and aims at testing the paradoxical wealth effect. Using different modeling techniques, the analysis focuses on family-controlled child labor taking place in the cocoa sector of Cote d’Ivoire. The results reveal that the effect of different commonly used wealth proxies have opposite effects on child labor participation and are sometimes sensitive to the modeling technique. This mixed result is the root of the apparent wealth paradox found in the literature. However, relevant and robust wealth proxies clearly indicate a positive relationship between poverty and child labor. The study therefore sustains that the apparent wealth paradox found in the literature is the end result of a bad orthodoxy.","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128932622","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"National health accounts: Structure, trends and sustainability of health expenditure in Nigeria","authors":"A. Soyibo, O. Olaniyan, A. O. Lawanson","doi":"10.4314/AJEP.V14I1.44195","DOIUrl":"https://doi.org/10.4314/AJEP.V14I1.44195","url":null,"abstract":"","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131755177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Price reactions to dividend policy changes on the Nigerian stock market","authors":"O. Adelegan","doi":"10.4314/AJEP.V13I2.44189","DOIUrl":"https://doi.org/10.4314/AJEP.V13I2.44189","url":null,"abstract":"","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"207 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131999245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An empirical analysis of the impact of budget deficit on the current account balance in Cameroon","authors":"J. Tchokote","doi":"10.4314/AJEP.V12I2.44177","DOIUrl":"https://doi.org/10.4314/AJEP.V12I2.44177","url":null,"abstract":"","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132676880","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}