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Abstract - Assessing the Political Economy of Policy Instability and its Effect on Nigerian Economic Growth, 1970-2015
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Abstract: This study examines the political economy of policy instability and its effect on the Nigerian economic growth from 1970 to 2015. The study tries to measure the effect of political policy instability on the Nigerian economic growth, focusing on the assessment of the relationship between political instability and unsustainable national economic growth in Nigeria. The researchers adopts the two stage least square of the static model and ADF and PP unit root test structural co-integration test as well as Pariwise Granger Causality. The research findings revealed that there is significant effect of policy instability on the Nigerian economic growth during the chosen period of observation and that there is no causality relationship between political instability and unsustainable national economic growth in Nigeria during the chosen period of study. In the light of the research findings, the researchers recommend transformational leadership and constitutional reform in Nigeria, which will go a long way to calm down the effect policy instability on Nigerian economic growth and development. Again the study calls for the promotion of citizenship over indignity in order to achieve cooperation and participation of all the masses and communities in the development process. Keywords: Politics, Policy Instability, Economic Growth, Development and Nigeria. |
Abstract - Assessment of Electoral Management and Democratization System in Nigeria: A Case of Independent National Electoral Commission (INEC)
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Abstract: Nigeria is a country in transition. Since election constitutes a vital ingredient of every participatory democracy, the electoral system therefore is very vital in a country still under transition. Democracy, often, is based on its interface with development. Thus, if democracy is practiced in a manner that accommodates majority of the populace, it has the capacity to jump start human development. In Nigeria, however, the system of democracy has been intercepted by illegitimate regimes over the years, and thereby undermining national development. The relationship between the democracy and development engendered debates over the years among scholars and policy makers. This paper therefore postulates that the electoral institution in Nigeria could be blamed for ushering illegitimate governments, owning to their failure to conduct free and fair elections. The paper concludes that a policy should be formulated to strengthen the electoral body, Independent National Electoral Commission (INEC) to make it truly independent in carrying out the mandate of the people. Keywords: Legitimacy, development, democracy, policy makers. |
Abstract - Assessment of the Financial Stability of Russian Printing Companies: Business Services Sector
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Abstract: This article substantiates the necessity of assessing financial stability of printing companies involved in the business services sector. Peculiarities of business activities of today’s printing companies under current conditions have been revealed and financial stability levels of these companies, computed based on Edward Altman’s Z-score bankruptcy probability assessment model, have been defined. To analyze the status of printing companies involved in the business services sector, Altman’s methodology that is based on a five-factor model for predicting the insolvency risk of companies was applied. The analysis of the industry allowed us to distribute selected companies in three zones of bankruptcy. The number of companies in three bankruptcy zones as well as their share in the total scope of firms in the period under review was defined. Recommendations on the implementation of a set of measures in production and management structures of the assessed companies have been suggested. These measures allow the financial position of the companies in the industry to be maintained and strengthened. The results of this study may lay the foundation for further studies of urgent issues related to the analysis and evaluation of the financial sustainability level of printing companies. Keywords: Printing companies, sustainability, financial stability, assessment, business services sector. |
Abstract - Assessment of Regional Economic Security Level in Innovative Development
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Abstract: Analysis of the innovative development of the regional economy is a relevant problem due to its role in ensuring the economic security of the country and achieving priority goals. The subject of the research are the regions of one of Russia’s most dynamically developing macro-regions – the Volga Federal District. It features innovation clusters, a network of modern manufacturing companies, research organizations. At the same time, it developed a significant territorial heterogeneity of the regional space. Therefore, in the course of the study, a typology of the regions was drafted according to a number of indicators, which made it possible to assess the level of their innovative development and identify zones of relative stability, medium and critical state. A forecast of the main indicators of the innovation component was made showing the ability of the regions to overcome the factors preventing the development of the innovation economy. The research results showed that most of the regions have a medium level of economic security in the field of innovation. The Nizhny Novgorod Region and the Republic of Tatarstan are at a high level. The economy of these regions is characterized by a high level of diversification, resilience to instability in the domestic market and external challenges. The Saratov region, the Republic of Mari El and the Orenburg Region are in a low-level zone. A short-term forecast indicates that in general the situation will not change – the regions will increase or decrease the values of the indices within the achieved levels of economic security. A qualitative transition to a new level is possible provided that the problems that hinder the innovative economy in the regions are eliminated. Keywords: Regions, innovative component, economic security, calculation methods. |
Abstract - Bank Stability Index for Selected Countries with Dual Banking Systems
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Abstract: A robust and comprehensive measure of bank stability is crucial to identify healthy banks and save troubled banks from deteriorating in order to avoid banking crises, hence prevented a systemic effect on the overall financial system of the country. The study aims to develop a comprehensive measure of bank stability for selected Organization of Islamic Cooperation (OIC) countries with dual banking systems. The measure is in the form of a composite index, comprehensively adopts relevant indicators from the existing literatures based on annual data from 1999 to 2015, obtained from the Bankscope database. The factor analysis method used by the Organization of Economic Co-operation and Development (OECD) is adopted to develop the index. The findings reveal the comprehensive measure of bank stability for all bank models. The policy implication for the regulatory is to use similar measure of bank stability in monitoring and reporting the stability of different bank models. Keywords: Bank stability index, dual banking, Islamic bank, OIC Countries, factor analysis. |