To be published in 2019
Economics – Demand, Supply, the Market, and Business
This publication concentrates on the elementary micro-economics, both theory and applied. The purpose is to produce a relatively portable text covering micro-economics at an elementary level in sufficient details. This supplements related materials in more complete texts but that fail on details. This portability and supplementation properties rationalises the need of the text. After the introductory remarks in chapter one, the text takes an elementary approach to the theoretical basis of supply and demand in the second chapter and production in the third chapter. The treatment of imperfect competition in chapter four is typically slightly more complicated but nonetheless still elementary. The last chapter is an application of the earlier chapters both in a micro and macro sense or setting. The last chapter is rather unique, not commonly found in texts of this nature which from chapter four would go into macro-economics, often starting with national income. In this way, the text does provide an opportunity of applying the micro foundations to the business world albeit in an elementary setting. The primary audience of this book is the student community in the early stages of the discipline. Practitioners and policy makers would find it useful as a backdrop.
Nigeria’s Fiscal Policy Operation: Magnitudes, Trends and Challenges
The sharp increase in fiscal deficits and public debt in most developing countries like Nigeria has raised concerns about fiscal sustainability particularly in the recent decade. This study examined Nigeria’s fiscal operation between 1970 and 2017. This is achieved by assessing the magnitudes, trends, reforms and challenges using descriptive and qualitative approaches. Specifically, the trending behavior of fiscal policy variables – including government expenditure, public debt, inflation and public revenue are analyzed. Public financial management and budgetary process are also discussed. The study shows that since the 1970s, the Nigeria’s fiscal policy can be said to lack definite and clear objective as majority of times the objectives are too broad reflecting majorly macroeconomic goals. Fiscal policy of Nigeria is characterized by rising government expenditure without corresponding increase in public revenue which had deteriorated the fiscal stability of the country resulting to higher inflation and fiscal deficit accompanied by large accumulation of debt. The ability of the country to implement countercyclical fiscal policy to address the fiscal imbalances is mostly constrained by fluctuation in oil price, administrative inefficiencies and irregularities in the budgetary process. Sadly, despite reforms and initiatives undertaken, it is observed that they are weakened by persistent political influences and unnecessary delays in formulation and implementation of policies which in turn affect their performance. Government fiscal policy needs to be re-considered by moving from broad fiscal policy to a specific fiscal policy that will consider the needs and demand of people and derive the fiscal policies from such considerations. This can be done by strengthening the existing bodies and institutions saddled with the responsibility of making fiscal policy so as to make them efficient and effective and accommodative to people’s needs through pro-poor policies and programs.
Economic Growth and Public Investment Optimality
This book investigates the relation between economic growth and public investment expenditures. It examines the level and means to improve the macroeconomic effectiveness of government investment spending and explores the concept of optimality under the constraint of debt sustainability. Additionally, this research analyzes the legislative and institutional factors that could slow down the effectiveness of investment expenditures, and provides hints on how the reduction of corruption could help fiscal policy converge toward optimality. The first chapter sheds light on economic growth in the literature as a core variable of the economic activity, its determinants and the role of investment, particularly public investment, as a potential contributor. The second chapter focuses on public investment’s macroeconomic effectiveness, as the first leg of optimality. The emphasis is laid on the examination of the macro-financial framework of Morocco as an example of developing countries, followed by a larger benchmark panel data model. Afterwards, I estimate public investment expenditures’ impact on GDP, along with other variables such as GFCF and public consumption. The third chapter introduces debt sustainability as the second component of public investment optimality. The twofold concept of optimality is then encompassed in an experimental small scale macroeconomic model for public investment policy analysis, on which a series of policy shocks is driven in order to further discuss different hypotheses. Throughout this book, I reveal that the macroeconomic impact of public investment expenditures is below the effectiveness levelhence could not logically be optimal even if public debt is found to be sustainable. Subsequently, a number of effectiveness-oriented institutional recommendations are prescribed. The policy simulation also suggests that an increase in public investment spending that is not totally or predominantly matched with a rise in public revenues has a larger and longer negative impact on public debt than a positive one on GDP growth. On overall, public investment’s optimality in the realistic framework of a developing economy seems to be strictly conditioned by a cumulative series of positive variations combined with the improvement of profitability-based selectivity of investment projects, under the constraint of a debt ratio that should not exceed 60 percent.
Employing Transgender in Organization: Workplace Discrimination Challenges
The book explores the challenges an organization face when transgender persons are employed. One of the challenges is workplace discrimination issue against the transgender employees. Further, the role of transformational leadership has been examined in dealing with workplace discrimination issues. The study is based on qualitative analysis where in the validity and credibility of the study is ensured using data triangulation i.e. data is collected through unstructured interviews, participant observation and documents & pictures. Also, source triangulation i.e. different categories of respondents included 6 transgender employees, 6 other employees who works closely with transgender employees, 3 HR personnel, and the Executive Director Akhuwat. The study supports the role of transformational leadership in handling workplace discrimination. The values & principles, like respect and brotherhood are the core factors affecting the workplace discrimination against transgender employees. Especially, in absence of formalized HR policies and regulations, the values & principles plays a pivotal role. Such values of brotherhood and respect encourages the employees to hold a non-discriminatory organizational culture. Data shows the transgender employees are more hardworking, motivated, loyal and satisfied for merely being respected and recognized by the organization. This study of transgender employment experiences and the role of transformational leadership opens new lines of inquiry for understanding gender inequalities at work, and it builds on scholarship that combines political, social and economic approaches with transgender studies.