REVIEW ARTICLE | April 30, 2018
An Analysis of the Barriers and Countermeasures of Sino-Latin American Economic and Trade Cooperation
Hengxing Zhang, Yanqing Jiang
Page no 65-69 |
10.36348/sjef
Since the 21st Century, China has become increasingly closely related to
Latin American countries, and economic and trade cooperation has also increased
rapidly. However, there exist various barriers in the process of cooperation between
the two sides. Based on the data and descriptive statistics concerning economic and
trade cooperation, this paper analyzes barriers, propose countermeasures, and the
prospects of the future relationship between China and Latin America.
REVIEW ARTICLE | March 30, 2018
The Justifications for the Regulation
Brahim Idelhakkar
Page no 45-48 |
10.36348/sjef
The classical economists have mostly focused their attention on the
functioning of the market and not on the role of the state. The analyses of various
democracies are based on the assumption that the State decisions once made are
applied as intended by the authorities who are responsible for their practical
implementation. The economics of regulation is situated at the intersection of the
public economics and industrial economics, it explores different forms of
government intervention in industrial activities to simulate either to control or even
to reprove them. Public intervention can take different forms: in Europe the most
common practice is the nationalization, it is the public monopoly of law. In the
United States operation of this natural monopoly is assured through economic
regulation, that is to say all means by which Governments directly influence the
activity of companies while maintaining the framework of the private property. It is
very important to distinguish between the economic regulation of an activity that
focuses on the price and the determination of the structure of offer, and the social
regulation concerning the conditions for the exercise in the activity and the physical
characteristics of the products or services (protection of workers in their working
conditions (health, security), rules of environmental protection or standardization of
products (quality).
ORIGINAL RESEARCH ARTICLE | April 30, 2018
Share Prices Determinants in the Nigerian Stock Exchange
OLOWE Sunday
Page no 49-56 |
10.36348/sjef
The study empirically examined the determinants of share price in the
Nigerian Stock Market from 1980 to 2000. Data from fifteen quoted companies were
used. The study adopted ordinary least square method i.e multiple regression to
analyse and interpret the data that were mainly sourced from the Nigerian Stock
Exchange. The model used expressed the share price as a function of some identified
determinant established by theories and literature. These determinants are earning
per share, dividend per share, money supply, oil price, the gross domestic product,
consumer price index and interest rate. After the analysis it appears that all these
variables are true determinants of the share price in Nigerian Stock market going by
the significance of the model at both 5% and 10% levels of significance and the
robustness of the R square which stood at about 0.93. This simply shows that these
identified determinants have been able to explain about 93% variation in the share
price of the companies. However based on the revelations concerning the
relationship of the share price and each of this variables it appears the that earning
per share, dividend per share, money supply, oil price and consumer price index all
exhibited positive relationship with the share price while interest rate and GDP
exhibited negative relationship.
REVIEW ARTICLE | April 30, 2018
An Empirical Investigation into the Nexus between Agricultural Financining and Economic Growth in Nigeria
KEJI Sunday Anderu
Page no 57-64 |
10.36348/sjef
The study empirically investigate the nexus between agricultural financing
and economic growth in Nigeria from 1983 to 2015. Augmented Dickey-Fuller
(ADF) test and the Phillip-Perron tests were used to establish which variable is
stationary at different levels. Almost all the variables (Real Gross Domestic Product
(RGDP) Agricultural credit guarantee scheme fund (ACGSF) Commercial Bank
Loan and Advance on Agriculture (CBLAA) are stationary at first different form,
that is they are integrated of order I (1) except interest rate (INTR) which is
stationary at level, that is, it is integrated of order I (0), hence Bounds co-integration
test was adopted since it allows combination of fractionally integrated variables i.e.
combines variables of different orders of integration. The results reveal existence of
long-run relationship between proxy of economic growth and the proxies of
agricultural financing. Meanwhile, Auto Redistributed Lag (ARDL) results show
both short and long run effect of agricultural financing schemes on the growth of
Nigerian economy. In addition, various diagnostic tests (such as Jarque-Bera (JB)
test, Breusch-Pagan Serial Correlation (LM) test, Ramsey test, and ARCH test) were
conducted to fulfill some of both Ordinary Least Square and normality assumptions.
Notably, the loan disbursement mechanism adopted by agricultural credit institutions
have fail to drive the Nigerian economy towards real growth despite the long run
nexus among the key variables, coupled with corruption, and policy summersaults in
the sector. Therefore, there is need for proper channelization of loans across board
with sustainable fiscal measures that can translate to actual growth.