This paper aims to apply the debt sustainability framework using various ratios to review the current state of sovereign debt of Economic Community of West African States (ECOWAS…
Abstract
Purpose
This paper aims to apply the debt sustainability framework using various ratios to review the current state of sovereign debt of Economic Community of West African States (ECOWAS) member countries.
Design/methodology/approach
Debt sustainability framework using various ratios (which include the present value approach, Country Policy and Institutional Assessment debt policy assessment ranking and solvency ratio of external debt) for the period 2010 and 2017 were used for the analysis to determine external debt sustainability and solvency of ECOWAS members.
Findings
The findings indicate that most ECOWAS countries are already turning at the unsustainable debt path and may renege in their debt obligations, thus creating a vicious cycle of external borrowing that could lead to capital flight.
Originality/value
This paper offers the empirical evidence to identify which of the ECOWAS countries are already at the threshold of external debt stress, and in the likelihood to renege on their debt obligations.
Details
Keywords
Afees Salisu and Douglason Godwin Omotor
This study forecasts the government expenditure components in Nigeria, including recurrent and capital expenditures for 2021 and 2022, based on data from 1981 to 2020.
Abstract
Purpose
This study forecasts the government expenditure components in Nigeria, including recurrent and capital expenditures for 2021 and 2022, based on data from 1981 to 2020.
Design/methodology/approach
The study employs statistical/econometric problems using the Feasible Quasi Generalized Least Squares approach. Expenditure forecasts involve three simulation scenarios: (1) do nothing where the economy follows its natural path; (2) an optimistic scenario, where the economy grows by specific percentages and (3) a pessimistic scenario that defines specific economic contractions.
Findings
The estimation model is informed by Wagner's law specifying a positive link between economic activities and public spending. Model estimation affirms the expected positive relationship and is relevant for generating forecasts. The out-of-sample results show that a higher proportion of the total government expenditure (7.6% in 2021 and 15.6% in 2022) is required to achieve a predefined growth target (5%).
Originality/value
This study offers empirical evidence that specifically requires Nigeria to invest a ratio of 3 to 1 or more in capital expenditure to recurrent expenditure for the economy to be guided on growth.
Details
Keywords
John Owusu-Afriyie, Priscilla Twumasi Baffour and William Baah-Boateng
This study seeks to estimate union wage effect in the public and private sectors of Ghana, respectively. It also seeks to ascertain whether the union wage effect in the two…
Abstract
Purpose
This study seeks to estimate union wage effect in the public and private sectors of Ghana, respectively. It also seeks to ascertain whether the union wage effect in the two sectors varies.
Design/methodology/approach
The authors use data from the Ghana Living Standards Survey 6 (GLSS 6, 2012/2013) and Ghana Labour Force Survey (GLFS, 2015). In terms of estimation technique, the authors employ the Blinder–Oaxaca decomposition technique to estimate union wage effect in public and private sectors, respectively.
Findings
The findings indicate that union wage effect in the public sector is positive and higher relative to that of the private sector.
Practical implications
The findings imply that strict enforcement of Section 82 of Labour Act 2003 (Act 651) will curb the political influence of public sector unions over their employer (Government).
Originality/value
This research paper has not been presented to any journal for publication and it is the authors' original work.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2023-0045
Details
Keywords
This study seeks to examine unions’ influence on employees’ access to paid holiday/leave, paid pension and social security payment by employers in Ghana. The study also finds out…
Abstract
Purpose
This study seeks to examine unions’ influence on employees’ access to paid holiday/leave, paid pension and social security payment by employers in Ghana. The study also finds out whether unions are potent at minimizing gender inequality of access to these benefits.
Design/methodology/approach
Data for the analysis are extracted from the 5th and 6th rounds of the Ghana Living Standards Survey (GLSS), 2005/2006 and 2012/2013, respectively, as well as the 2015 Ghana Labour Force Survey (GLFS). The study employs binary probit model with a selectivity-correction term as an estimation technique.
Findings
The findings indicate that trade unions significantly increase employees’ likelihood of having access to paid holidays/leave, paid pension and social security contributions. We also find that trade unions minimize gender inequality of access to these non-wage benefits.
Practical implications
The findings imply that trade unionism in Ghana is an effective mechanism for enforcing employers’ compliance with the provision of legal benefits to employees. It is also an effective tool for minimizing gender inequality of access to these benefits.
Originality/value
This research paper adds value to the literature by examining the role that unions play in minimizing gender discrimination with regard to access to non-wage benefits.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2024-0234