International Trade and its Impact on Global Economic Development

Authors : Agbaeze Clifford Chilasa ; Chukwu Peter Damian Ezechi ; Nsoja Josephine Edem

DOI : doi.org/10.47752/sjef.6.1.19-25

Abstract:
The benefit of international trade had not been noticed in the economic growth of Nigeria because some of the goods imported into the country were those that can cause damage to local industries by rendering their products inferior and being neglected, thereby reducing the growth rate of output of such industries which later spread to the aggregate economy. The work investigated the extent to which international trade impacted global economic development with particular reference to the Nigerian economy between 1986 and 2018. The data employed for this study are annual time series data covering 1986-2018. The data were obtained from the World Bank data outlook and the central bank of Nigeria statistical bulletin. This study adopts the statistical method of multiple linear regression approach using ordinary least squares to examine the relationship between RGDP as a dependent variable and degree of openness, foreign exchange rate, and interest rate as independent variables. The paper revealed that a relationship exists between international trade and economic growth and that while some components of international trade exerted a positive and significant effect on growth, INTR exerted a positive but insignificant effect. The result further shows that all the regressors except interest rates were statistically significant at a 5% level of significance. Some policy recommendations which would be helpful and applicable to the Nigerian economy were suggested. For the degree of openness, Nigeria should adopt more policies on trade liberalization like reducing non-tariff barriers, reducing barriers, and eliminating quotas that will enable the economy to grow at a spectacular rate. The finding for exchange rate implies that the policymakers should adopt long-term policies because, in the long run, a strong currency depends on economic fundamentals. To have a strong exchange rate, countries will need a combination of a low inflation rate, productivity growth, and economic and political stability.

Economies of the Factors Affecting Crop Production in India: Analysis Based on Cobb-Douglas Production Function

Authors : Jitendra Kumar Sinha

DOI : doi.org/10.47752/sjef.61.10.18

Abstract:
The Cobb-Douglas Production Function which has the advantage of permitting hypothesis testing and calculation of confidence intervals to test the reliability of the estimation has been applied in this study of the agricultural production process using several production factors within the broad terms of land, labor, & capital. Agricultural production has been considered as the dependent variable, whereas, area coverage for agricultural production, labor employed in agriculture, agricultural household expenditure, fertilizer applied, and irrigation coverage have been considered as independent variables. Agricultural productivity has been examined from a different perspective such as the productivity of land, labor, and capital. The factors of production estimated through the regression analysis demonstrated that the growth of crop production significantly depends on the application of fertilizer. Besides, irrigation and household consumption also have a positive impact on production. The use of seeds, types of machinery, and expenditures for sowing and harvesting are considered responsible for the increase in consumption for rural households, so their use may have some positive impact on production, but the effect of these factors is not much significant. Land and labor have a negative correlation with crop production. Overall crop production shows decreasing returns to scale due to a decrease in land productivity, use of traditional plow methods, land degradation, decrease in soil fertility, and increase in soil salinity. The increasing crop production is the result of the application of fertilizer and improved seeds. Land and labor were negatively correlated with crop production, whereas, fertilizer was positively correlated but excessive use of inorganic fertilizer may further aggravate soil fertility. This study also measures the marginal contribution of each input to aggregate agricultural output.

Impact of E-Accounting on Accountants’ Performance in the Nigerian Public Sector

Authors : Nwokwu Tochukwu Christian

DOI : doi.org/10.47752/sjef.61.1.9

Abstract:
This study was undertaken to reveal the impact of e-accounting on the performance of accountants in the Nigerian Public Sector. The level of effectiveness and efficiency of accountants in the Nigerian Public Sector has not been encouraging in the past years due to their use of the outdated manual accounting system also known as the traditional accounting system. The e-accounting system is fast, saves time, and helps accountants to cover more work than before; thereby promoting their effectiveness. It has been fully implemented in the Office of the Accountant-General of the Federation. The questionnaire was used to collect data, and analysis was carried out through the use of simple percentages and chi-square. It was revealed that e-accounting helps to improve the performance of accountants in the Nigerian Public Sector, thereby boosting the economy of the country. It was discovered that the e-accounting system has helped to detect fraudulent activities and other financial management crimes in the Office of the Accountant-General of the Federation. Other organizations that are financially capable and that have a stable power supply have been encouraged to fully adopt the e-accounting system.