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Research Article
The Nuex Between Foreign Aid and Economic Growth in Sierra Leeone (1994 -2024)
Moses Balla Marah*,
Saidu Kallah Fofanah,
Saidu Kargbo
Issue:
Volume 13, Issue 3, June 2025
Pages:
70-83
Received:
7 March 2025
Accepted:
22 March 2025
Published:
9 May 2025
Abstract: This study investigated the relationship between foreign aid and economic growth in Sierra Leone using annual data from 1994 to 2024. Specifically, the study first, estimated the impact of foreign aid on economic growth; and second, the study investigated the direction of causality between foreign aid and economic growth in Sierra Leone. The ordinary least square estimation technique was used for analysis. The empirical findings suggest that foreign aid inflow into Sierra Leone is imperative for economic growth in Sierra Leone. The study further found that gross capital formation and labour force impact significantly on economic growth whereas, foreign direct investment impacts negatively and insignificantly on economic growth. The study further found that there is no causality between foreign aid and economic growth in Sierra Leone within the period under review. Based on the findings from this study, it is recommended that vigorous effort should be made by government to create a stable economic and political environment and effective competitive policies. This work has tried to emphasize that aid programmes should be broadly consistent with a strategy aimed at developing human capital. In the absence of foreign aid, there is no doubt that the height of development in human capital in Sierra Leone would be even lesser than that prevailing. This work recommends that foreign aid could be better prioritized in the following ways; In order to lessen the extreme disparity that exists in Sierra Leone, foreign aid must be directed more specifically at individuals living in the poorest areas of the nation. The rate of school dropouts will decrease with less disparity, notably in Sierra Leone. Additionally, recent studies show that nations with less inequality have a higher likelihood of improving their literacy rates as a result of foreign help. Therefore, there should be more foreign aid programs launched in each of Sierra Leone four geopolitical zones.
Abstract: This study investigated the relationship between foreign aid and economic growth in Sierra Leone using annual data from 1994 to 2024. Specifically, the study first, estimated the impact of foreign aid on economic growth; and second, the study investigated the direction of causality between foreign aid and economic growth in Sierra Leone. The ordina...
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Research Article
Improving Public Spending Efficiency in Primary Health Care-Public Expenditure Tracking Survey, a Boon for Policymakers: An Experience from Nigeria
Yusuf Auta*
,
Tushar Rane,
Hamidou Poufon,
Alkali Salihu,
Jalo Ali Mni
Issue:
Volume 13, Issue 3, June 2025
Pages:
84-92
Received:
26 April 2025
Accepted:
12 May 2025
Published:
18 June 2025
DOI:
10.11648/j.ijefm.20251303.12
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Abstract: Gombe State, facing demographic shifts and growth challenges, partnered with UNICEF to undertake a Public Expenditure Tracking Survey (PETS). The “PETS” examined health budget allocations and funds flow, offering insights into delays, potential leakages, disparities in resource allocation, service delivery assessments, and analyzing staff incentives, behavior, and input quality. The “PETS” covered the entire state comprising 11 Local Government Areas (LGAs) and 114 facilities with the participation of varied stakeholders. A mixed approach of quantitative and qualitative techniques to collect, analyze, and interpret data was used. Quality control measures, including real-time monitoring to enhance data accuracy, were observed. The survey results and data analysis show a worrying decline in Routine Immunization (RI) funding by 47% from the central level to local areas, signaling potential threats and compromise to the successful implementation of crucial immunization programs. A critical finding underscores 88.4% discrepancies between the funds disbursed by the State Primary Health Care Development Agency (SPHCDA) and the funds reported to be received at the LGA level. This inconsistency raises pertinent questions about reporting accuracy and the potential for paucity of documentation at the LGA level. In addition, “PETS” revealed the delays in funds transfers which ranged from four to thirty-five days. The study also found discrepancies in the reporting of RI visits, with 2588 numbers reported at the Local Government Area (LGA) compared to 1939 reported at the Primary Health Center (PHC) level. The report led to enhanced budgetary allocation for RI and improved documentation. In the long term, the findings will ensure a more transparent use of public health funds, reduce waste, pilferage of funds, and enhance healthcare quality and accessibility.
Abstract: Gombe State, facing demographic shifts and growth challenges, partnered with UNICEF to undertake a Public Expenditure Tracking Survey (PETS). The “PETS” examined health budget allocations and funds flow, offering insights into delays, potential leakages, disparities in resource allocation, service delivery assessments, and analyzing staff incentive...
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Research Article
Contribution of Financial Inclusion to Poverty Reduction in Ethiopia
Teshome Mihret Abate*
Issue:
Volume 13, Issue 3, June 2025
Pages:
93-106
Received:
17 April 2025
Accepted:
8 May 2025
Published:
18 June 2025
DOI:
10.11648/j.ijefm.20251303.13
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Abstract: This study examines the relationship between financial inclusion and poverty reduction in Ethiopia, focusing on the barriers to formal financial services faced by households. Using both descriptive and order logit estimation techniques, the research identifies key socioeconomic factors influencing financial exclusion. The study also emphasizes the importance of tailored financial products and inclusive policies to bridge the urban-rural financial gap and ensure equitable economic development. The findings reveal that financial exclusion, driven by both voluntary and involuntary factors, particularly affects the poorest households, limiting their ability to save, invest, and manage risks. While some households voluntarily opt out of formal financial services, involuntary exclusion, caused by factors such as distance, lack of financial literacy, and regulatory barriers, remains more prevalent. The study demonstrates that financial inclusion is positively correlated with improved household economic outcomes and poverty alleviation. It highlights the importance of increasing access to formal financial services, especially in rural areas, reducing transaction costs, and improving financial literacy to empower households to make informed financial decisions. Additionally, the research suggests that enhancing access to affordable credit, particularly for small-scale entrepreneurs and rural households, can foster long-term economic resilience. The study concludes with recommendations for policymakers to create an enabling environment that expands access to financial services and addresses the barriers to financial inclusion, contributing to sustainable poverty reduction in Ethiopia.
Abstract: This study examines the relationship between financial inclusion and poverty reduction in Ethiopia, focusing on the barriers to formal financial services faced by households. Using both descriptive and order logit estimation techniques, the research identifies key socioeconomic factors influencing financial exclusion. The study also emphasizes the ...
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Research Article
Mining in Madagascar: Optimizing the Added Value with Gold Sector
Issue:
Volume 13, Issue 3, June 2025
Pages:
107-119
Received:
4 April 2025
Accepted:
17 April 2025
Published:
20 June 2025
DOI:
10.11648/j.ijefm.20251303.14
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Abstract: In Madagascar, the mining sector accounted for 47% of exports and 5% of GDP in 2023. This is a key sector, but one that remains largely under-exploited for the country's economic development. However, industrial mining could account for up to 14% of Madagascar's GDP and dominate the country's exports by 2025. The objective of this study is to analyze and propose strategies to optimize value addition in artisanal and small-scale mining, with a focus on gold. Madagascar is rich in mineral resources such as graphite, nickel, cobalt, titanium and chromium. These resources are classified by international conventions as large-scale corporate mining. In addition to this type of mining, there is a sector dedicated to artisanal and small-scale mining (ASSE). It is this sector that is the focus of this study. ASSE is particularly important for Madagascar's national economy, as it provides jobs and income for local communities while contributing to the production of essential minerals. From an economic perspective, optimizing value added can also lead to a better distribution of the profits and revenues generated by mining, thus ensuring that local communities benefit equitably from the economic spin-offs of these activities. The existing exploitation does not improve the standard of living of the Malagasy people, but on the contrary increases the already existing poverty. The Commune is relieved of its gold resources, but these have no significant social or economic benefits. Finally, this study explores innovative models for local economic development and cooperation between public and private actors and civil society. It could serve as a reference for other similar contexts where artisanal and small-scale mining plays a central role in the regional economy. The main interest of this study is its ability to propose concrete and adapted solutions to improve the sustainability, profitability and positive socio-economic impacts of artisanal and small-scale mining in Madagascar's unique context. With a projected growth of 5.3% in 2025, the economic outlook is promising, and the mining industry's performance is expected to further boost this growth.
Abstract: In Madagascar, the mining sector accounted for 47% of exports and 5% of GDP in 2023. This is a key sector, but one that remains largely under-exploited for the country's economic development. However, industrial mining could account for up to 14% of Madagascar's GDP and dominate the country's exports by 2025. The objective of this study is to analy...
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Research Article
The Bread and Butter: An Impact Analysis of Petroleum Prices on Households in Sierra Leone
Emmanuel Bongay*,
Umaru Afiz Akchievere Sesay
Issue:
Volume 13, Issue 3, June 2025
Pages:
120-133
Received:
12 March 2025
Accepted:
25 March 2025
Published:
30 June 2025
DOI:
10.11648/j.ijefm.20251303.15
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Abstract: This study analyzes the impact of petroleum price fluctuations on households in Sierra Leone amidst the economic realities faced by families due to persistent rising fuel costs. Sierra Leone's petroleum market, highly dependent on imports, has been subject to price volatility driven by international market trends and exchange rate fluctuations. The government regulates fuel prices through the Petroleum Regulatory Agency (PRA) to prevent extreme volatility, yet external economic pressures continue to impact the affordability of fuel. Given the essential role of petroleum in transportation, electricity, industrial, and economic activities, price increases have a ripple effect on the cost of food and other essential commodities, aggravating household poverty and malnutrition. This research utilizes econometric models, including the Ordinary Least Squares (OLS) and Autoregressive Distributed Lag (ARDL) models, to assess how fuel price changes influence household consumption and agricultural pricing. It also examines the role of taxation policies and government regulations on fuel prices, evaluating their impact on both market dynamics and household economic stability. The study draws upon consumption theories such as the Permanent Income Hypothesis, the Life Cycle Hypothesis, and the Relative Income Hypothesis to provide a theoretical framework for understanding the socio-economic consequences of fuel price fluctuations. The paper analyzed key macroeconomic data alongside household-level spending patterns, the study provides a measurable understanding of the long-term effects of petroleum prices on Sierra Leonean households, particularly in the context of an economy recovering from past crises. The findings show a marginal correlation between fuel price regulation, inflation, and household welfare, which will help the government mitigate the adverse effects of rising fuel costs on vulnerable populations.
Abstract: This study analyzes the impact of petroleum price fluctuations on households in Sierra Leone amidst the economic realities faced by families due to persistent rising fuel costs. Sierra Leone's petroleum market, highly dependent on imports, has been subject to price volatility driven by international market trends and exchange rate fluctuations. The...
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Research Article
Assessing the Role of Oil Price Forecasts in Predicting Macroeconomic Indicators: A Conditional Forecasting Approach
Inam Ullah*
Issue:
Volume 13, Issue 3, June 2025
Pages:
134-155
Received:
22 April 2025
Accepted:
23 May 2025
Published:
30 June 2025
DOI:
10.11648/j.ijefm.20251303.16
Downloads:
Views:
Abstract: This research endeavor carefully examines the economic effectiveness of oil price forecasts through the lens of conditional forecasting applied to three essential macroeconomic indicators—specifically, the Consumer Price Index (CPI), Industrial Production (IP), and Producer Price Index (PPI) within the United States. The analytical framework initially adopts a mixed sampling frequency approach to identify the trajectory of oil prices, utilizing high-frequency information to enhance the predictive process. Following this, macroeconomic conditional forecasts are methodically executed. Notably, the identified trends reflect a waning importance of oil price forecasts in relation to inflation predictions. Conversely, forecasts concerning price increases, manufacturing output, and the PPI reveal an inverse correlation. The complexities underlying this phenomenon are rigorously analyzed, with multiple plausible explanations presented. The robustness of our findings is highlighted by their consistency across various model specifications and forecasting methodologies, underscoring the reliability and durability of our analytical framework. Ultimately, this research offers critical insights into the intricate relationship between oil prices and macroeconomic variables, carrying significant implications for policymakers, businesses, and investors alike. The study elucidates the nuanced dynamics of oil price forecasts and their consequential effects on macroeconomic indicators, thereby not only enhancing the comprehension of economic interdependencies but also providing practical guidance for stakeholders navigating the intricate terrain of economic forecasting. The multifaceted implications of our findings extend beyond academic circles, positioning our research as a vital resource for those responsible for crafting informed policies, strategic business decisions, and investment strategies in the continuously evolving economic landscape.
Abstract: This research endeavor carefully examines the economic effectiveness of oil price forecasts through the lens of conditional forecasting applied to three essential macroeconomic indicators—specifically, the Consumer Price Index (CPI), Industrial Production (IP), and Producer Price Index (PPI) within the United States. The analytical framework initia...
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