Latest Articles
ABSTRACT
The importance of international trade as a source of revenue for households, businesses, and countries is indisputable, but the critical role of financial institutions in enabling and expanding international trade through financing, risk management, and regulatory support is often overlooked. Hence, this paper investigated the role of financial institutions in international trade, providing a lucid and holistic overview of how these institutions undergird global commerce. It adopted a doctrinal-library-based methodology, drawing on peer-reviewed and grey literature, as well as relevant statistics. The paper outlined the categories of financial institutions: commercial banks, export credit agencies, multilateral development banks, and international financial institutions. It examined their involvement in international trade and the instruments and mechanisms they employ for trade financing. The paper further examined the risk management and regulatory compliance roles undertaken by financial institutions. It unbiasedly assesses the impact of financial institutions on global commerce, noting strides such as expanding SMEs’ access to finance and the digitization of financial services, but challenges remain. In conclusion, the paper recommends harmonizing trade standards to achieve greater equity and strengthening institutional collaboration, among other measures.
Original Research Article
ABSTRACT
The paper investigated the nexus between job design and employee work outcomes as well as the mediating roles of employee commitment and job satisfaction of Deposit Money Banks in Enugu Metropolis The study adopted quantitative survey design and this allowed for the collection of data from a large number of respondents. The population of the study was 386 employees from Deposit Money Banks. The sample size was determined using Yamane sample size determination formula and a sample of 201 employees was selected through a stratified sampling procedure. Data were collected, using a structured questionnaire designed on a 5-point Likert scale. The validity of the data collection instrument was determined through content validity approach. The data collected were analysed through the application of one step process approach of Patial Least Square Structural Equation Modelling (PLS-SEM) with the aid of Smart PLS software 4.1.2 version. The results demonstrated that job rotation has a positive significant effect on employee commitment (β= 0.268, t= 9.25, P< 0.05). There was a positive significant relationship between job enrichment and job satisfaction. (β = 0.342 t= 9.71, P< 0.05), There was a negative but significant relationship between job satisfaction and employee productivity ( β= -0.060 t= 3.734, P< 0.05), In terms of the indirect relationships, employee commitment mediated the relationship between job rotation and employee productivity (β= -0.159, t= 6.390, P <0.05) and job satisfaction mediated the relationship between job enrichment and employee productivity (β= 0.405, t= 8.409, P <0.05). We recommended that the approaches of job design should be executed to foster job satisfaction, employee commitment, employee productivity and motivation of workers in Deposit Money Banks in Nigeria.
Original Research Article
ABSTRACT
The level of educational achievement is a critical determinant of both individual and societal progress; however, it remains profoundly influenced by social inequality and exclusion. Exclusion in educational attainment refers to the unequal distribution of educational opportunities and outcomes across social groups. This study explores how factors such as caste and geographic location create disparities in access to educational opportunities and academic outcomes. Based on the primary data collected from the forward and backward regions of Karnataka, the study emphasizes how caste interacts to influence educational opportunities. The findings reveal persistent disparities in educational attainment among marginalized communities, particularly Scheduled Castes (SCs) and Scheduled Tribes (STs). By analyzing empirical evidence, the paper highlights the need for inclusive policies and interventions that address structural inequalities and promote equity in education
Original Research Article
ABSTRACT
In the past, Nigeria had enjoyed tremendous inflow of foreign capital, making it the highest recipient among developing countries. In recent years however, total capital inflow into the country has been on the decline reducing by about 31 percent between the fourth quarter of 2016 and that of 2020. Meanwhile, unemployment continued to rise, during these periods. This study therefore, investigated the impact of foreign capital inflow on unemployment in Nigeria, using data set from the period 1986 to 2022. Specifically, the study examined the impacts foreign direct investment, foreign portfolio investment, remittances, and international trade balance exert on Nigeria’s unemployment rate. Data collected were estimated using the augmented Dickey-Fuller unit root test, and the Autoregressive Distributed Lag (ARDL) Bounds technique. The unit root test confirmed that the variables were integrated of mixed order, while the ARDL Bounds test confirmed a long run relationship among the variables. Findings from the ECM model reveal that only foreign portfolio investment contributed significantly in the reduction of unemployment in Nigeria, while others had insignificant positive impacts. The study concludes that foreign capital inflow plays a vital role in reducing unemployment in Nigeria, and thus, recommended among others; robust development of the Nigerian capital market in order to make it more viable and stable so as to boost public confidence. Secondly, the security of investors’ funds should be guaranteed via macroeconomic policies that would enhance a competitive and interest yielding business environment.
Original Research Article
ABSTRACT
This study assessed the impact of renewable energy investment on sustainable economic development in Nigeria. Sustainable economic development was measured by the growth rate of gross domestic product, while renewable energy was proxied by solar, wind, and biomass. Data on these variables for the period 1990 to 2023 were analysed using the Augmented Dickey-Fuller unit root test, Johansen Cointegration test and the Error Correction Model approach. The unit root test result reveal that all the variables became stationary at first difference. The Johansen Cointgration test also reveal the presence of long run relationship among the variables. Findings from the ECM estimates show that investment in solar energy has a considerable positive impact on the growth of Nigeria’s gross domestic product, while investment in wind energy has an insignificant positive impact on the growth of Nigeria’s gross domestic product. The study also disclosed that investment in biomass has a non-negligible positive influence on the growth of gross domestic product in Nigeria. Based on these findings, the study concludes that investment in renewable energy contributes positively to sustainable economic development in Nigeria, and recommends that the Nigerian government should prioritize solar energy investment by creating favourable policies that attract both local and international investors, and as well, encourage collaboration among stakeholders in the agricultural, environmental, and energy sectors to develop a structured biomass energy policy that focus on converting agricultural waste into energy, thereby promoting environmental sustainability while contributing to economic development.
Original Research Article
ABSTRACT
Since the end of 2015, Nigeria has experienced slow economic growth, which has increased the nation's poverty rate. This paper addressed the issue of poverty brought on by import-oriented industry, high governance costs, inflation, corruption, unemployment, low technological investment, and a failure to maximize effort, resources, and outcomes. They have an impact on both Nigeria's national development and its sustainable development plans. The study used secondary data as its information source. Newton's laws of motion can be used as a key tool to address these issues and guarantee economic growth. In order to solve the nation's economic problems and end poverty, we examined how Newton's laws of motion might be applied. The first law outlines external forces that can be utilized to eradicate poverty, while the second law recommends the appropriate quantity of external forces that will maximize resources and effort and hasten Nigeria's economic progress and stability. Corruption, which permeates every level of the Nigerian government, is discouraged by the third law, commonly known as the Newton’s third law of karma. According to the paper's conclusion, we can escape the current economic snags and lift Nigerians out of poverty and instability by sincerely applying the suggested economic catalysts (external forces), which include lowering the cost of governance, investing in technology, export-oriented industrialization, SMART goals, the Pareto principle, and creating intrinsic motivation to prevent corruption by our government and citizens. These economic catalysts would help us overcome our current financial difficulties and elevate Nigerians out of poverty and unstable economic conditions.
Original Research Article
ABSTRACT
Corporate social responsibility is an essential aspect of corporate social responsibility. However, in practice, companies can face various empirical problems affecting the effectiveness of corporate social responsibility programs. This study aims to determine how social and environmental responsibility implementation is based on the East Kutai Regent Regulation No. 42 of 2019 at the PT Pama Persada Nusantara Site Kimberley Process Certification Scheme. This study uses a descriptive qualitative method and an implementation theory of disposition, communication, bureaucracy, and resources. The East Kutai Regent Regulation has implemented social and environmental responsibility by PT Pama Persada Nusantara. Corporate social responsibility is implemented systematically, paying attention to four indicators: participatory communication, provision of adequate resources, strong commitment from all levels, and an organized bureaucratic structure. Transparency, accountability, and good coordination support the program's success. However, implementation also faces obstacles such as geographical conditions and socio-cultural differences in the community. Overall, implementing corporate social responsibility is adequate and can exemplify sustainable corporate social responsibility practices oriented towards community welfare. As an improvement effort, it is recommended that the company strengthen two-way communication, conduct comprehensive social mapping, and collaborate with the village government to facilitate program implementation. Local governments must oversee and integrate corporate social responsibility programs into regional development. Meanwhile, the public is expected to participate more actively to ensure the success and sustainability of the programs.