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Article
Publication date: 12 August 2024

Isiaka Akande Raifu, Damian Chidozie Uzoma-Nwosu and Alarudeen Aminu

This study explored how institutional quality influences the relationship between military spending and education in Africa.

424

Abstract

Purpose

This study explored how institutional quality influences the relationship between military spending and education in Africa.

Design/methodology/approach

This study used data from 43 African countries spanning the years 2000–2021. Two estimation methods were employed to address various issues: Fixed Effects with Driscoll-Kraay standard errors and the Two-Step System Generalised Method of Moments. The Fixed Effects with Driscoll-Kraay standard error method was used to obtain reliable standard errors and inferences from the estimated coefficients of the fixed effects model. Meanwhile, the problem of endogeneity between military spending and education was addressed using the Two-Step System Generalized Method of Moments (GMM).

Findings

The results indicated that military spending negatively impacts both the quality and quantity of education. However, both institutional quality and the interaction term (institutional quality*military spending) have positive effects on both measures of education, suggesting that better institutional quality mitigates the negative effect of military spending on education outcomes.

Practical implications

This study shows that institutional quality dampens the negative effect of military spending on education, especially the quality of education. Hence, African countries should prioritize strengthening their institutions to ensure optimal allocation and utilization of government funds for the benefit of their citizens.

Originality/value

This is the first study to examine the moderating role of institutional quality in the relationship between military spending and education, focusing on both the quantity and quality of education.

Details

Journal of Business and Socio-economic Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2635-1374

Keywords

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Article
Publication date: 26 December 2024

Isiaka Akande Raifu and Joshua Adeyemi Afolabi

Empirical evidence abounds on the individual effect of financial development and remittances on agricultural production, but little is known about their complementary role…

21

Abstract

Purpose

Empirical evidence abounds on the individual effect of financial development and remittances on agricultural production, but little is known about their complementary role, especially in the context of African countries. This study fills this knowledge gap by examining the moderating role of financial development in the agricultural production–remittance nexus in Africa.

Design/methodology/approach

Different measures of financial development were employed, and the panel quantile regression model was adopted to analyse panel data of 33 African countries covering the period 2005–2020.

Findings

The results indicate that the effects of financial development on agricultural production vary across quantiles, and the dynamics of agricultural production are sensitive to the choice of financial development indicator. Nevertheless, financial development and remittances are highly indispensable for improved agricultural production in Africa, as financial development complements the positive effect of remittances on agricultural production.

Practical implications

African countries need to strengthen their financial sector to facilitate the effective mobilization of remittances and other financial resources for investment in the agricultural sector and the improvement of the sector’s productivity.

Originality/value

To the best of our knowledge, this is the first study that documents empirical evidence on the complementary role of financial development and remittances on agricultural production in Africa.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2054-6238

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Article
Publication date: 15 October 2024

Isiaka Akande Raifu, Joshua Adeyemi Afolabi and Abdulkhalid Anda Salihu

The literature has well-documented the positive economic effects of both leisure and religious tourism. However, certain events, such as the COVID-19 pandemic and others, can…

43

Abstract

Purpose

The literature has well-documented the positive economic effects of both leisure and religious tourism. However, certain events, such as the COVID-19 pandemic and others, can impair the positive effect. Hence, the purpose of this study is to simulate the effect of counterfactual changes in religious tourism on Saudi Arabia’s economic growth during the MATAF expansion project and the COVID-19 pandemic.

Design/methodology/approach

The study employs novel dynamic autoregressive distributed lag (DARDL) and kernel-based regularised least squares (KRLS) estimation techniques to analyse data spanning 1970–2022.

Findings

The results refuted the positive effect of spiritual tourism, especially during the two events. The simulation results show that a shock in predicted religious tourism will lower economic growth marginally in the short term but substantially in the long run.

Practical implications

The Saudi Arabian government should prioritise strategic infrastructural development such as expanding roads, airports and renovating worship centres during periods of low demand to promote economic growth through religious tourism. This will allow for the accommodation of a growing number of pilgrims without disrupting religious activities. In addition, it is imperative for the government to engage in international cooperation with other governments to proactively avert future pandemics such as the COVID-19 pandemic.

Originality/value

Even though many studies have examined the effect of religious tourism on economic growth, to the best of our knowledge, this study is the first one that simulates the effect of counterfactual changes in religious tourism on economic growth during the MATAF expansion project and the COVID-19 pandemic.

Details

Journal of Hospitality and Tourism Insights, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9792

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