International Journal of Business, Economics and Management

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No. 6

Exchange Rate Movements, Import And Economic Growth in Nigeria (1986-2010)

Pages: 115-124
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Exchange Rate Movements, Import And Economic Growth in Nigeria (1986-2010)

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Olusola Oloba

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Olusola Oloba (2014). Exchange Rate Movements, Import And Economic Growth in Nigeria (1986-2010). International Journal of Business, Economics and Management, 1(6): 115-124. DOI:
The study empirically investigates the effect of exchange rate volatility on import trade in Nigeria during the period 1986: 1-- 2009: 4. The study focuses on import trade because, the import aspect of trade flows has often been ignored by researchers. The study showed that exchange has been volatile in Nigeria as evident from the unusually high and unusually low standard deviation. Also, the econometric results show that exchange rate displays a clustering trend during the period under investigation which portrays high degree of volatility. Further, the econometric results indicated that a long run relationship exists between exchange rate volatility and trade flows. Also, the study showed a significant negative relationship between domestic output and import component of trade flows suggesting that increasing import tends to shrink production line in Nigeria. The study concluded that exchange rate volatility exerted a significant negative relationship with import in Nigeria.
Contribution/ Originality

Promoting Entrepreneurship through Open and Distance Education in Zimbabwe. A Case Study of the Zimbabwe Open University Students at Masvingo Regional Campus

Pages: 101-114
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Promoting Entrepreneurship through Open and Distance Education in Zimbabwe. A Case Study of the Zimbabwe Open University Students at Masvingo Regional Campus

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Emmanuel Dumbu

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Emmanuel Dumbu (2014). Promoting Entrepreneurship through Open and Distance Education in Zimbabwe. A Case Study of the Zimbabwe Open University Students at Masvingo Regional Campus. International Journal of Business, Economics and Management, 1(6): 101-114. DOI:
The re-engineering of the Zimbabwean economy in the contemporary environment characterized by globalization has attracted the attention of the domestic policy makers. This is shown by the commitment by government on the re-positioning of the economy through the formulation of the Ministry of Small and Medium Enterprise Development and the churning of the empowerment and indigenization policies. For these policies to reach fruition, Higher Education in the form of Open and Distance Learning has to shoulder the burden. In the quest for the country to forge ahead with the development of the economy, entrepreneurship development has to be promoted through the ODL platform. The current study used an open ended questionnaire administered to 50 students from the Zimbabwe Open University, Masvingo Regional Campus using the purposive sampling technique. The data collected were analyzed thematically and results showed that entrepreneurship education is vital for the enhancement of the economy and entrepreneurship education inadequacies cause business failures. It was therefore recommended that the ODL institutions should design short courses in entrepreneurship, compulsory course for entrepreneurship in all faculties and Higher Education curriculum to provide options for entrepreneurship development among university students.
Contribution/ Originality

An Enquiry into the Contributions of Microfinance Institutions Towards the Development of Small Scale Business in Nigeria

Pages: 88-100
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An Enquiry into the Contributions of Microfinance Institutions Towards the Development of Small Scale Business in Nigeria

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Citation: 1

Lawal Adedoyin Isola , Omoluabi Ehis Taiwo , Babalola Kehinde Leke , Ahmed Victor

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Lawal Adedoyin Isola , Omoluabi Ehis Taiwo , Babalola Kehinde Leke , Ahmed Victor (2014). An Enquiry into the Contributions of Microfinance Institutions Towards the Development of Small Scale Business in Nigeria. International Journal of Business, Economics and Management, 1(6): 88-100. DOI:
This paper examined the impact of Microfinance Institutions’ policies on the growth and development of Small Scale Business in Nigeria for the period 2005 to 2012. Nine (9) Microfinance Institutions and one hundred and fifty five (155) of their clients were interviewed. Records from the period shows that   there is an increase in the numbers of savings and loans made by the Micro Finance Institutions, this signifies a rise in the need for Microfinance Institutions services in the economy. The study adopts the use of Multiple Regression Analysis to regress the relationship between the dependent variable and independent variables. We also employed the use of Analysis of Variance to determine the strength of the Regression Analysis. The OLS result suggests existence of positive relationship between both the dependent and independent relationship. Our findings suggested that macroeconomic policy should be designed in such a way that will encourage the survival of Microfinance Institutions and attracts low income – informal sector which in turn leads to increase in productivity and employment generation.
Contribution/ Originality

Driving Role of Institutional Investors in the Indian Stock Market in Short and Long-Run – An Empirical Study

Pages: 72-87
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Driving Role of Institutional Investors in the Indian Stock Market in Short and Long-Run – An Empirical Study

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Ranjan Dasgupta

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Ranjan Dasgupta (2014). Driving Role of Institutional Investors in the Indian Stock Market in Short and Long-Run – An Empirical Study. International Journal of Business, Economics and Management, 1(6): 72-87. DOI:
The process of liberalization leads to stock price appreciation followed by inflows from foreign investors in Indian stock markets. Post-1992, the FIIs become one of the prime forces to drive up or down Indian stock markets and their indices. MFs, being the most influential DIIs have alsoplayed their part. This study is endeavoured to find out the impact of and relationships between FIIs net flows, MFs net flows and the Indian stock markets as proxied by the BSE SENSEX Index, both in the long-run and short-run, by using tabular results, correlation test results, ADF and PP tests, Johansen and Juselius’s cointegration test and Granger causality test results. Monthly data are used from April, 2007 to March, 2012 for all the variables, i.e., FIIs net flows, MFs net flows and the BSE SENSEX Index. ADF and PP results show that all the variables are not integrated of the same order. Johansen and Juselius’s cointegration test is conducted based on ADF and PP results with FIIs net flows and MFs net flows with the revised long-run model. It points out at least two cointegration vectors and negative long-run relationships between FIIs net flows with MFs net flows. Then, it employs Granger causality test. The Granger causality test finds no short-run unilateral or bilateral causal relationships between the BSE SENSEX Index, and FIIs and MFs net flows and neither in between FIIs net flows with the MFs net flows. Therefore, it is concluded that, Indian stock markets have no informational efficiency. However, future studies should incorporate critical Indian and global macroeconomic variables’ impact on the FIIs net flows and MFs net flows and their short and long-run interrelationships to make the study results more conclusive and reliable.
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