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Öğe The role of foreign aids and income inequality in poverty reduction: A sustainable development approach for Africa?(Springer India, 2022) Alao, Rasheed O.; Alola, Andrew A.In the last decades, international interventions mostly through foreign aids have consistently been directed toward sustainable development objectives such as reduction of poverty in African countries. Thus, this study investigates the effect of foreign aids and income inequality in poverty reduction in Africa for 1990-2016. The novelty lies in the investigation of the effectiveness of aid remittances to Africa from the United Nations and Organization for Economic Cooperation and Development (OECD) which has previously been overlooked in extant studies. By using the system Generalized Method of Moments, the study showed that the interaction of inequality with the United Nations Development Programme (UNDP) funds and OECD Official Development Assistance is not statistically significant. Meanwhile, the interventions from the UNDP funds and OECD Official Development Assistance statistically yield significant and expected results of reducing poverty in the poor continent. However, the study surprisingly failed to establish that remittances from the UNDP have significantly mitigated poverty in Africa. Importantly, this study presents a significant policy guide for the governments and the stakeholders and recommends that the donor agencies adopt poverty-reduction, and income distribution-based criteria for the allocation of their resources to reduce poverty in the continent.Öğe Toward sustainable use of natural resources: Nexus between resource rents, affluence, energy intensity and carbon emissions in developing and transition economies(WILEY, 111 RIVER ST, HOBOKEN 07030-5774, NJ, 2023) Nwani, Chinazaekpere; Bekun, Festus Victor; Gyamfi, Bright A.; Effiong, Ekpeno L.; Alola, Andrew A.Sustainable use of natural resources would entail ensuring that derived economic benefits today do not undermine the welfare of generations to come. On this basis, this study examines the nexus between natural resource rents and carbon dioxide (CO2) emissions disaggregated into production and consumption-based (i.e., trade-adjusted) CO2 emissions for a selected panel of 45 developing and transition economies over the period 1995-2017. The empirical model also incorporates the impacts of population, affluence, and energy intensity. The results show that affluence increases production-based CO2 emissions by 1.407%, with the EKC's predicted inverted U-shaped curve only explaining consumption-based CO2 emissions. Economic reliance on natural resource rents and energy intensification contribute 0.022% and 0.766%, respectively, to CO2 emissions embedded in territorial production inventories and 0.035% and 0.583%, respectively, to CO2 emissions embedded in consumption inventories. The bootstrap non-causality test shows that historical data on each variable has significant predictive power for future CO2 emissions from both sources. The historical information about natural resource rents has significant predictive power over the future levels of affluence and energy intensity. Clearly, the results show that the environmental impact of natural resource rents is stronger when CO2 emissions are adjusted for trade and varies among the countries, with Bangladesh, Guinea, India, Malaysia, Mexico, Nigeria, Pakistan, Saudi Arabia, Vietnam, and Zimbabwe among the most affected countries. Overall, this study provides motivation for policies to keep the use of natural resources within sustainable limits.Öğe Toward the path of economic expansion in Nigeria: The role of trade globalization(Wiley, 2020) Joshua, Udi; Salami, Oladimeji M.; Alola, Andrew A.There are debates regarding the effect of globalization on national economies, and whether or not trade openness has a significant positive or negative influence on economic expansion and development. Thus, this study is aimed at investigating the relationship between trade globalization and Nigeria's economic advancement. The autoregressive distributed lags (ARDL) model was employed for the time series data: real GDP, openness, foreign direct investment, and population growth over the period 1981-2017. The findings of this estimation revealed that population growth is significant but inhibitor of economic prosperity (real GDP) in the short term. However, the significant and long-run determinants of the real GDP are population growth and trade openness but not foreign direct investment. Furthermore, the Granger Causality test revealed that real GDP granger causes population growth. The study therefore concluded that trade openness and globalization are necessary for Nigeria's economic expansion and development. Consequently, the study opined that the land border closure policy recently implemented by the Nigerian government might necessitate a significant reassessment so that the economic development projections of the country are not hindered.