Role of Governance in Explaining Domestic Investment in Nigeria

This study empirically examines the pattern of domestic investment that is consistent with a neoclassical supply-side model of the Nigerian economy. The estimations are carried out with time-series data from 1970 to 2006 using the Johansen estimation techniques. The results conform to the findings of existing literature that real output, user cost of capital, and the level of financial development are significant determinants of domestic investment in Nigeria. The distinctive feature of the study is the significant role played by governance in explaining the longterm pattern of domestic investment in Nigeria. The results from the long-run estimation and the impulse responses revealed that a well-structured and stable socio-economic environment will boost domestic investment over the long run. Therefore, in modelling domestic investment for Nigeria, it is imperative to incorporate the significant role played by governance.Investment, Governance, Nigeria

Structural Breaks and Finance-Driven Growth Hypothesis in ECOWAS: Further Empirical Evidence

This study makes a cross sectional case in investigating the validity, or otherwise, of the finance-driven growth hypothesis in the ECOWAS countries using annual data from 1970 to 2008 for seven countries namely: Burkina Faso, Cote d’Ivoire, The Gambia, Ghana, Nigeria, Senegal and Togo. In contrast to earlier studies on developing countries, this study specifically tests for the possibility of structural breaks/regime shifts in the finance-growth long run relationship by employing the Gregory and Hansen (1996) residual based test which accounts for endogenous structural break. While the Gregory-Hansen structural break cointegration result confirms the existence of cointegration relationships among the selected countries despite the breakpoints, the Granger-causality test result indicates a general pattern of causality running from financial development to economic growth in most of the countries. Also, the striking feature of the result of our estimated growth model generally lends credent to the importance of financial development in explaining growth dynamics among the selected countries, thus reinforcing the finance-driven growth hypothesis

An experimental test of prejudice about foreign people

This paper o¤ers two related issues: (i ) an applications of beliefs about the cooperative behavior of others to policy-oriented issues, (ii ) a method of explor- ing prejudices (toward others) where interviewees are oblivious of its purpose. We studied contributions and guesses about others?contributions through an experimental game. Prejudice is examined as an implicitly held belief by a Spanish college student towards any of the speci?ed foreign population groups (i.e. the Asians, the Africans, the Latin Americans and the Westerners). The results show that: at the individual level, there exists some subjects that harbor strong positive (and negative) prejudices toward the foreigners. The prejudice models ?tted also show that: own contributions, femaleness, individual wealth; and beliefs about income status, cultural status, religious intensity, societal co- operation and political orientation have strong in?uences on racial prejudice.Beliefs, Prejudice, Public Goods Game

Structural breaks, parameter stability and energy demand modeling in Nigeria

This paper extends previous studies in modeling and estimating energy demand functions for both gasoline and kerosene petroleum products for Nigeria from 1977 to 2008. In contrast to earlier studies on Nigeria and other developing countries, this study specifically tests for the possibility of structural breaks/regime shifts and parameter instability in the energy demand functions using more recent and robust techniques. In addition, the study considers an alternative model specification which primarily captures the price-income interaction effects on both gasoline and kerosene demand functions. While the conventional residual-based cointegration tests employed fail to identify any meaningful long run relationship in both functions, the Gregory- Hansen structural break cointegration approach confirms the cointegration relationships despite the breakpoints. Both functions are also found to be stable under the period studied. The elasticity estimates also follow the a priori expectation being inelastic both in the long- and short run for the two functions

El Niño-southern oscillations and lathyrism epidemics

Epidemics of lathyrism, a neurological syndrome of spastic paraparesis, have occurredduring severe droughts in Europe, Asia, and Africa for millenia. Causation is linked toexposure to β-N-oxalyl-L-α,β-diaminopropionic acid (β-L-ODAP), a neurotoxin in Lathyrussativus. Lathyrism shares neurological features with konzo, a syndrome of predominantlyspastic paraparesis which occurs during droughts in East and Central Africa and is linked to El Nino activity. This study was done to determine the relationship of lathyrism epidemics to phases of El Nino-southern oscillation (ENSO) and Pacific decadal oscillation (PDO), and to propose a model to explain why the geospatial distributions of lathyrism and konzo are non-overlapping. Contingency table of phases of ENSO and occurrence of lathyrism epidemics in Central Provinces, India from 1833–1902 was created and odds ratio was calculated. Wavelet spectra of time series of annual occurrence of lathyrism in Rewah district, India, and its coherence with ENSO and PDO from 1894–1920 were performed. Lathyrism epidemic was associated with El Nino phase of ENSO, odds ratio 378 (95 % 32–4475). Global spectra showed peaks at periodicity of 2.5 and 4.6 years for lathyrism; 2.7 and 5.0 years for PDO; and 2.5, 4.6, 7.0 years for ENSO. Spectrograms showed time-varying periodicities of 2.5–3.5 and 4.5–5.5 years for lathyrism; 2.0–3.0 and 6.5–9.0 years for ENSO; and 3.5 and 5.0 years for PDO, p < 0.0001. Spectral coherence were at 2.0–3.5 and 4.5–5.0 years for ENSO and lathyrism p < 0.0001, and 5.0 years for PDO and lathyrism p < 0.05. The droughts of El Ninos initiate dependence on Lathyrus sativus, which exposes the population to neurotoxic β-L-ODAP. Public health control of lathyrism epidemics should include development of models to forecast El Ninos and initiate food programmes in susceptible areas

Words make people think, ... but pictures make people feel: The effect negative vs. positive images on charitable behavior

We ran an experiment where the subjects initially played a four-round dictator game, after which each subject was shown either a set of positive images or a set of negative images. Finally the subjects played another four-round dictator game.&#xd;&#xa;The effect of the sign of images shown is clear on the players&#x2019; behaviors: positive images have moderate effects on charitable behavior while negative images dramatically increase charity.&#xd;&#xa;We could therefore infer from our experimental results that showing negative images of the Haitian and Chilean catastrophes to the international public would have significant positive impacts on international donations to the victims and the rebuilding programs in both countries

Performance of Rhizophora mangle L. leaf-extract and sodium dichromate synergies on steel reinforcement corrosion in 0.5 M H2SO4-immersed concrete

This paper investigates performance of different synergistic combinations of Rhizophora mangle L leafextract and sodium dichromate (Na2Cr2O7) admixtures on the corrosion of steel-reinforcement in 0.5 M H2SO4-immersed concrete. Steel-reinforcement corrosion, in concrete slabs partially-immersed in the microbial/industrial simulating test-environment, were assessed using non-destructive electrochemical measurements of corrosion rate (CR) and open circuit potential (OCP) . Probability distribution function (pdf) analyses, as prescribed by ASTM G16-95 R04, of the scatter of corrosion test-data showed that while datasets of OCP distributed like the Normal, the Gumbel and Weibull pdf’s, the datasets of CR were best fitted by the Weibull pdf. Results identified 6 g Rhizophora mangle L leaf-extract + 2 g Na2Cr2O7 synergistic admixture with both optimal inhibition efficiency, η = 90.12%, and synergistic parameter that indicated excellent synergistic interaction of the plant-extract with Na2Cr2O7 chemical.That this synergistic admixture out-performed the also effective Na2Cr2O7 admixtures in the study suggests suitability of Rhizophora mangle L leaf-extract as eco-friendly replacement of toxic Na2Cr2O7 inhibitor in H2SO4-immersed steel-reinforced concrete. This is potent with the advantage of reducing environmental effect from lower Na2Cr2O4 usage for controlling corrosion in steel-reinforced concretes for the microbial/industrial environment

Self-compacting concrete in pavement construction: Strength grouping of some selected brands of cements

This paper investigates strength properties of some selected cement brands for self-compacting concrete application in pavement construction. Three brands each of Portland limestone cement grades, CEM II/A-L 42.5 (Brand A), CEM II/B-L 32.5 (Brand B) and CEM II/B-L 32.5 (Brand C), were used. Rheological test was carried out using the L-Box, V-Funnel and slump cone while compressivegas emissions from the building sector. These systems require high investments which are returned through the heat sales. Due to the changed climate conditions and building renovation policies, heat demand in the future could decreas