REGIONAL DISPARITIES IN THE PROCESS OF THE DEVELOPMENT OF NIGERIA: A HISTORICAL PERSPECTIVE

This paper examines the policy actions of earlier administrators in Nigeria. The account reveals that regional inequalities in the country evolved during the 100 years of British Colonial Administration. Moreover, activities of various ethno-linguistic groups in the country after political independence undoubtedly exacerbated the situation. The paper concludes that the major structural changes in agriculture, transportation and education initiated by the British during the colonial period: (a) had profound effects on the evolution of regional disparities; and (b) established an important basis for further development of the country. Nonetheless, activities of post-independence administrators have perpetuated and even aggravated the regional and individual socio-economic disparities in the country.     

Housing Prices and Maturing Real Estate Markets: Evidence from Uganda

Uganda, a less developed but rapidly growing East African nation, continues to correct the economic mismanagement of past governments. One important legacy of this mismanagement is the Land Decree of 1975, issued by then President Idi Amin Dada. This decree nationalized all land and made illegal all private real estate market transactions. This paper uses a rich, but little known, dataset to show that real estate markets appear to have continued operating reasonably efficiently in spite of the 1975 Decree. The Land Act of 1998 repealed the 1975 Decree. Our results suggest the recent Act has a high likelihood of success because its primary goal is to codify guarantees of security, transparency, and enforceable property rights in private real estate markets that appear to already exist.     

Analysing the Poverty Impact of the HIPC Initiative in Cameroon

Abstract: The paper uses the Poverty Analysis Macroeconomic Simulator (PAMS), a World Bank framework and updates its interface with the Cameroon government macroeconomic framework to analyze the potential impact of the implementation of the HIPC initiative on poverty alleviation. According to the main findings, it is very likely that Cameroon would succeed in achieving the poverty Millennium Development Goal. However, this result would be feasible if and only if the Poverty Reduction Strategy Paper (PRSP) is fully implemented. That is not very certain because of the failure already observed during the first year of PRSP implementation.     

Développement financier,croissance économique et productivité globale des facteurs en Afrique Sub‐saharienne**

Résumé: L’article analyse empiriquement les liens développement financier (DF)‐croissance économique, et développement financier‐productivité globale des facteurs (PGF) en Afrique Sub‐saharienne. L’étude est basée sur une approche VAR: tests de cointégration de Johansen et modèles à correction d’erreurs. L’échantillon comprend 22 pays et porte sur la période 1960–2002. Les résultats suggèrent que le DF et la croissance, et le DF et la PGF sont cointégrés, dans plusieurs pays. De plus, dans plusieurs cas, la relation entre le DF et la croissance est caractérisée par une causalité bidirectionnelle au sens de Granger, alors que la relation entre le DF et la PGF est caractérisée par une causalité unidirectionnelle allant du DF vers la PGF. Il apparaît, à quelques exceptions près, que le développement financier stimule la croissance dans les pays où cette croissance est soutenue par le progrès technique. L’implication de nos résultats est que toute mesure qui stimule le développement financier, va stimuler la croissance économique à travers l’accélération du progrès technique. Abstract: The paper empirically analyzes the financial development (FD)‐growth nexus, and the financial development‐total factor productivity (TFP) link in sub‐Saharan Africa. The study is based on a VAR approach: Johansen cointegration tests and error correction models. The sample includes 22 countries over the period from 1960 to 2002. Results suggest that FD and economic growth and, FD and TFP are cointegrated for many countries. Moreover, in many cases, the relationship between FD and growth is characterized by bidirectional causality in the Granger sense, whereas the relation between FD and TFP is characterized by a unidirectional causality running from FD to TFP. With few exceptions, it appears that financial development spurs economic growth in countries where that growth is supported by technological progress. The implication of the findings is that any reform that causes betterment in the financial sector will foster economic growth through a sharp increase in technological progress.     

Migration and Wealth Accumulation in Uganda

This paper examines the causes and effects of migration in Uganda. It is the first to do so using household level data. The data are unusually detailed, chronicling the movements of household heads from birth to time of enumeration. Using Poisson regression analysis, we are able to investigate the characteristics that influence the number of moves undertaken by the household head. Using the Poisson results, we find that more moves in search of employment lead to less wealth accumulation. Although this result appears to be counterintuitive, it supports theories of migration in less developed countries. We also find that households headed by men are in general less likely to move than those headed by women, which could reflect differential ownership rights implicit in Ugandan law. This finding is reversed, however, when moves are limited to those in search of employment. This suggests that men, being the primary providers when they are the household head, are likely to move more in search of employment.

The Developmental Impact of the Asian Drivers on Senegal

(1250) Eric Hazard, Lotje De Vries, Mamadou Alimou Barry and Alexis Aka Anouan, with Nicolas Pinaud African countries have deepened their commercial and diplomatic relationships with China and India, and Senegal has been no exception. The historical context of the relationships, however, has differed. While Senegal already enjoyed a long‐lasting and stable relationship with India, relations with China have been more erratic, in particular on account of Dakar’s recognition of the Republic of China. We analyse trade and investment patterns with the Asian Drivers and how Senegal can form a relationship with these two superpowers that can contribute to its national development objectives. Contrary to other countries in Africa, Senegal is not a large producer of natural resources other than phosphates and fisheries and its consumer market is also rather limited. We find scarce evidence of large‐scale FDI flows and the amount of official development assistance is similarly anecdotic. For China and India, Senegal is of some interest as a logistical and commercial centre, rather than a production base for regional or foreign markets. Over the longer run, as these two countries are likely to become more important for Senegal simply on account of their increasing relevance on the world stage, we argue that it is essential that the authorities take these factors into account in developing policies that cater for economic development and social priorities.     

IS THERE A “CULTURE OF SPENDING” IN CONGRESS?

This study empirically tests the "Culture of Spending" hypothesis (Payne, 199la). According to this hypothesis, the longer congressmen stay in office, the more likely they are to support federal spending. Spending behavior in this study is measured by the National Taxpayers Union (NTU) Congressional Spending Score. Samples are drawn from annual spending scores for all U.S. representatives and senators who served in office between 1975 and 1993. This study finds no statistical support for the hypothesis that congressmen have an increasing propensity to support federal spending the longer they stay in office. Furthermore, we are able to explain why other studies obtain results different from ours.