The Effects of Globalization on Inflation in Selected OPECMember Countries during 1998-2007 ►Abdalali Monsef, Ahmad Googerdchian and Zohreh Alami Moghaddam
ABSTRACT Economists have considered globalization as one of effective factors on inflation in recent years. They believe that globalization reduces the role of domestic factors and increases the role of foreign factors. This research evaluates the impact of globalization on inflation in selected OPEC member countries included Iran for the period 1998-2007 and using modern panel data econometric techniques. Results of this research show that globalization and trade openness increase inflation considerably in these countries. Domestic output gap, political instability and GDP per worker as an indicator of development economic have not could affect on inflation significantly but foreign output gap have a weak and significant effect on inflation. Keywords:Globalization, Openness, Inflation, OPEC
Foreign Aid and Poverty level in West African Countries: New evidence using a heterogeneous panel analysis ►Olofin Olabode Philip
ABSTRACT This paper re-examines the effects of different types of foreign aid on poverty level in 8 West African countries between 1975 and 2010 by employing both the first and second generation econometrics methods of panel unit root test, cointegration test and empirical estimators with heterogeneous slopes. Our results suggest that total foreign aid and food aid impact positively on poverty, while technical aid reduces poverty. Apart from total foreign aid, none of the results was statistically significant. The results show negative relationship among poverty, life expectancy, foreign direct investment, per capita GDP and financial depth, but they were not statistically significant. This suggests that their impacts on poverty in West Africa were minimal. Keywords:Foreign aid; Poverty; Non-stationary panels; Parameter heterogeneity; Cross sectional dependence, West African countries.
Using Information Technology as an E-Learning Tool to Develop Entrepreneurial Skills of Emerging Businesses in the Western Cape in South Africa ►Mohamed Saheed Bayat,Fawzy Basardien and Anis Mahomed Karodia
ABSTRACT The objective of this paper was to demonstrate the use of information technology as an e-learning instrument to develop entrepreneurial skills of entrepreneurs assisted through RED DOOR, a government entrepreneurship support program, with a specific focus on financial management and management accounting skills. Historically, many emerging businesses that have received entrepreneurial support and training from RED DOOR have met with limited success. This study focussed on a longitudinal assessment of a pilot training program implemented by RED DOOR. This study included a sample of 40 entrepreneurs that obtained entrepreneurial training. The methodology involved four phases, namely, knowledge transference, skills application, business simulation and business evaluation. The results indicated that twelve months after the training most participants were successful. Keywords:E-learning, emerging businesses, technical skills, financial management skills, entrepreneurial skills, success.
Modelling the Mediation Effect of Service Recovery on the relationship between Customer complaints and Customer loyalty in Retail banking Industry ►Muhammad Mujtaba Abubakar, Sany Sanuri Mohd Mokhtar and Aliyu Olayemi Abdullattef
ABSTRACT In the last three decades, ample empirical studies have reported the significant association between customer satisfaction, customer complaints and customer loyalty in retail banking. However, the findings of such studies are far from conclusive. Initially, interviews and extensive literature review were undertaken to understand the linkages among the constructs. Anecdotal and empirical evidence indicate direct associations between the independent, mediating and the dependent variables. But, the intervening effect of service recovery is neglected by past studies. Thus, this conceptual paper proposes the mediation effect of service recovery on the relationship between customer complaints and customer loyalty in retail bankin. The insights provided by this paper can assist bank managers in addressing the issues of customer switching and loyalty erosion that embattle the banking industry. Keywords: Customer complaint, Customer loyalty, Customer satisfaction, Retail banking, Service recovery
FOREIGN DIRECT INVESTMENTS AND MANUFACTURING SECTOR PERFORMANCE IN NIGERIA, (1970-2009)
►Adejumo Akintoye Victor
ABSTRACT The study examined the relationship between foreign direct investment and the value added to the manufacturing industry in Nigeria, between the period 1970 and 2009. In view of the development and industrialising desires of Nigeria, as well as the foreign aid received in form of private investments, it is pertinent to examine the effect the presence of multinationals has had in shaping the Nigerian manufacturing industry. Using the autoregressive lag distribution technique to determine the relationship between foreign direct investment and manufacturing value added, it was discovered that in the long-run, foreign direct investments have had a negative effect on the manufacturing sub-sector in Nigeria. Keywords: Investments, Multinationals, Spillovers, Industrialization