Forthcoming and Online First Articles

African Journal of Economic and Sustainable Development

African Journal of Economic and Sustainable Development (AJESD)

Forthcoming articles have been peer-reviewed and accepted for publication but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.

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African J. of Economic and Sustainable Development (3 papers in press)

Regular Issues

  • Vulnerability and adaptation of rice value chains in Benue State, Nigeria   Order a copy of this article
    by Fanen Terdoo 
    Abstract: This study provides a synchronic baseline assessment of the complexities of the rice value chains (RVCs) in Benue State, Nigeria. Data sets were drawn from face-to-face (n = 72) interviews with RVCs actors (growers, millers, and traders) in three study areas. The vulnerability scoping diagrams (VSDs) were applied to help examine the components of RVCs actors exposure, sensitivity, and adaptation practices in detail. The results highlighted uneven vulnerabilities among the RVCs actors based on geographical location, cropping, milling, market system, and spatio-temporal dynamics. In addition to uncovering specific interactions of the effects of vulnerability with the downstream components of the RVCs, this study found several adaptation practices that were not only characterised by trade-offs and uncertainties but resulted in maladaptation outcomes that increased vulnerability. This study emphasises the importance of taking into account the effects of multiple interactions of vulnerability with actors along the chain when developing vulnerability reduction and resilience-building strategies.
    Keywords: multiple exposures; maladaptation; vulnerability scoping diagram; VSD; socio-ecological systems; SES; West Africa; Nigeria.
    DOI: 10.1504/AJESD.2023.10053892
  • The significance of refinanced letter of credit in cross-border financing in Nigeria   Order a copy of this article
    by Mercy Femi-Olagundoye, Rufus Ishola Akintoye 
    Abstract: The volume of import, letter of credit (LC), foreign portfolio investment (FPI), and foreign direct investment (FDI) were analysed to ascertain the impact of each of the three variables on import trade. This is to appraise the significance of cross-border financing on trade in Nigeria. The study used descriptive statistics, a pair-sampled t-test and ordinary least square regression. The study showed that FDI does not have a significant impact, but FPI has a negative significant impact on import trade while trade lines using LC have impact on import trade in Nigeria. The trends revealed peaks and troughs in the volume of LC, FPI, and FDI and it was also established that over 60% of LC paid by first-tier commercial banks and merchant banks in Nigeria were settled using credit lines. The credit line from the result facilitates trade and ensures trade flow.
    Keywords: credit line; letter of credit; import trade; foreign direct investment; FDI; foreign portfolio investment; FPI; foreign exchange; Nigeria.
    DOI: 10.1504/AJESD.2023.10055254
  • Response of stock return volatility to money market rates in Nigeria   Order a copy of this article
    by Stephen Friday Aleke, Collins Okechukwu Irem, Chinonso John Ugwoke, Oketa Chiamaka Eunice 
    Abstract: This study examined the effect of inter-bank rates (IBR) and prime lending rates (PLR) on stock market return volatility in Nigeria from January 2002 to December 2016. Descriptive statistics, unit root test (URT), heteroscedasticity, autocorrelation and GARCH (1.1) models were used to examine stock market returns volatility. A diagnostic test was conducted to ascertain the robustness of the estimated GARCH model. It was found that volatility clustering persists in the Nigerian stock market, suggesting that volatility shocks from the previous period will not disappear in the current period for a long time. Consequently, the government should establish a mechanism for monitoring banks foreign exchange activities to reduce the high cost of borrowing among banks and reduce their liquidity pressures. A reduction in prime lending rates by banks to their customers/investors will encourage them to borrow more.
    Keywords: stock returns; volatility; inter-bank rate; IBR; prime lending rate; PLR; Nigeria; all share index; ASI; unit root test; URT.
    DOI: 10.1504/AJESD.2023.10056490