Department of Economics

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https://repository.run.edu.ng/handle/123456789/64

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Browsing Department of Economics by Author "Ojo, Segun"

Now showing 1 - 3 of 3
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    Economic Consequences of Covid-19 Pandemic to the Sub-Saharan Africa: An Historical Perspective
    (2021) Ojo, Segun
    This paper examines the economic consequences of the COVID-19 pandemic to sub Saharan Africa (SSA) using the historical approach by analyzing the policy responses of the region to past crises and their economic consequences. The study employs the manufacturing-value-added share of GDP as a performance indicator. The analysis shows that wrong policy intervention to past crises, lead the African sub-region into the deplorable economic situation. The study observed that the region leapfrogged prematurely to import substitution, export promotion, and global value chains. Based on these past experiences, the region should adopt a gradual approach in responding to the COVID-19 economic consequences. The sub-region should first address relevant areas of sustainability, including proactive investment in research and development to develop home-grown technology, upgrade essential infrastructural facilities, develop security infrastructures, and strengthen the financial sector
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    Employment Growth, Service Sector, and Manufacturing Value-Added in Sub-Saharan Africa
    (Ife Journal of Economics and Finance, 2020) Ojo, Segun
    This study examined the interaction among employment growth, service sector, and manufacturing value-added in sub-Sahara Africa. The study utilized secondary data spanning 1990 to 2019. The data was analyzed using a panel vector error correction model (PVECM). The result reveals that long-run causality runs from manufacturing value-added and service sector to employment growth. The result shows that the manufacturing sector and service sector generate employment in the economy. It further reveals that there is no long-run causality running from employment growth and service sector to manufacturing value-added in SSA. Finally, the analysis reveals that there is long-run causality running from manufacturing value-added and employment growth to the service sector. The direction of causality reveals in this study shows that the service sector is crowding out the manufacturing sector in SSA.
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    Technological Leapfrogging and Manufacturing Value-Added in Sub-Saharan African (1990-2018)
    (2021) Ojo, Segun
    This study examines the impact of technological leapfrogging on manufacturing value-added in SSA. The study utilizes secondary data spanning 1990 to 2018. The data is analyzed using cross-sectional autoregressive distributed lags (CS-ARDL) and cross-sectional distributed lags (CS-DL) techniques. The study found that technological leapfrogging is a positive driver of manufacturing value-added in SSA. This implies that SSA can copy the foreign technologies and adapt them for domestic uses, rather than going through the evolutionary process of the old technologies that are relatively less efficient. If the governments of SSA could reinforce their absorptive capacity and beef up productivity through proper utilization of the existing technology. The productive activities of the domestic firms will stir new innovations and discoveries that will eventually translate into indigenous technology.