Asian Journal of Economics and Empirical Research

Online ISSN: 2409-2622

Print ISSN: 2409-2622

Publisher: Asian Online Journal Publishing Group
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Applying a Fuzzy Analytic Hierarchy Process to Demand Considerations of Households Opting for Mortgage Loans

Author(s): Otu Larbi-Siaw --- Michael Owusu-Akomeah --- Fiifi Okyere Amaning
| Pages: 52--61
The need for high economic development across the entire globe and Sub-Saharan Africa in particular has led to the awareness of the need to increase the housing base across the continent. The astronomical increase in population and urbanisation and its associated problems of accommodation call for the need to provide good housing for the people of Ghana; the provision of which could depends largely on the availability of mortgage facilities. However, obtaining the right mortgage is as crucial as obtaining the right home, yet buyers seemingly do not invest as much time and effort in a mortgage search as in house searches. It is against this backdrop that this study investigates factors considered by households before acquiring mortgage loans. A questionnaire was administered within the Accra metropolis, the area of Ghana with the most mortgage loan providers. We employed the fuzzy analytic hierarchy process (FAHP) to analyze the thought processes of households when making their decisions on acquiring a mortgage loan. The results indicated that factors considered by households when opting for a mortgage loan, ordered based on their degree of importance, were "Employment", "Housing Market Conditions", "Personal Factors", "Economic Factors", "Mortgage Lender Policy", "Housing Alternatives", "Knowledge", and "Social Factors". The weights of the first four factors were as high as 70.99% (Buckley?s method) and 69.70% (Chang?s method). These four items, have the most impact on household demand considerations when opting for a mortgage loan. If these factors are significantly improved, then, they can have a positive microeconomic impact on actual households demand for mortgage loans, in turn making the mortgage market a lucrative business.

Inequality and Unemployment Management

Author(s): Kwangsik Jung
| Pages: 62--73
Many studies have claimed that inequality and unemployment should be reduced. They also assert that the middle class should be increased for economic development. These strategies sound like similar outcome strategies. However, what would happen if they were not? In other words, if reducinginequality and unemployment risks aggravating the middle class, how should we manage inequality and unemployment? In this paper, we will examine this.

Households? Perception of Factors Influencing Agricultural Productivity in Ogoni Community: An Ordinal Logit Approach

Author(s): Ojide Makuachukwu Gabriel --- Onyukwu Onyukwu E.--- Ikpeze Nnaemeka
| Pages: 76--82
Agriculture is the principal means of livelihood in Ogoniland of Niger Delta region of Nigeria. Ascertaining the determinants of agricultural productivity in the community is therefore important in meeting food security and income needs. This study uses survey data of 400 households in Ogoni community. The data was collected using a multistage sampling method. An ordinal logit regression model was estimated. Descriptive analyses indicate that 75.8% of the surveyed households were involved in agricultural production and that only 37.1% of the households involved in agriculture had lost their agricultural produce due to oil spoilage in the last two years. The ordinal logit regression model identifies government intervention towards cleaning of polluted land and water, land degradation, air pollution and household income as significant determinants of agricultural productivity in the community. However, land degradation and air pollution are negatively associated with agricultural productivity while government intervention towards cleaning of polluted land and water and household income are positively related to agricultural productivity in Ogoni community. On the other hand, the result indicates that corporate social responsibility of oil firms towards cleaning of polluted land and water), oil spill and education attainment of household head are not among the significant determinants of agricultural productivity in Ogoni community.

Vertical and Horizontal Integration as Determinants of Market Channel Choice among Smallholder Dairy Farmers in Lower Central Kenya

Author(s): James K.Mutura --- Newton Nyairo--- Maina Mwangi --- Stephen K. Wambugu
| Pages: 83--90
This study sought to analyse vertical and horizontal integration as determinants of market channel among smallholder dairy farmers in Lower Central Kenya. Data was collected from 288 small holder dairy farmers in this region using multistage sampling technique. Processing and analysis of the survey data was carried out using SPSS version 20 and STATA version 12. Multinomial logit regression model (MNL) was used to analyse factors influencing the choice of dairy market outlet by the small holder dairy farmer. Level of education, milk output, access to information and transaction costs influenced the choice of marketing channel. Vertically integrated households used own outlet as marketing channel while horizontally integrated households used cooperative and farmers associations as milk marketing channel. It is recommended that programmes relating to milk market information be made accessible to farmers. There is need to profile farmers on the basis of production, spatial location and education level and encourage them to use specific marketing channel.

Monitoring and Evaluation in the Public Sector: A Case Study of the Department of Rural Development and Land Reform in South Africa

Author(s): N.Z Hlatshwayo --- K K Govender
| Pages: 91--99
Since the publication of the Government-Wide Monitoring and Evaluation Policy Framework (GWM&EPF) by the Presidency in South Africa (SA), several policy documents giving direction, clarifying context, purpose, vision, and strategies of M&E were developed. In many instances broad guidelines stipulate how M&E should be implemented at the institutional level, and linked with managerial systems such as planning, budgeting, project management and reporting. This research was undertaken to examine how the ?institutionalisation? of M&E supports meaningful project implementation within the public sector in South Africa (SA), with specific reference to the Department of Rural Development and Land Reform (DRD&LR). This paper provides a theoretical and analytical framework on how M&E should be ?institutionalised?, by emphasising that the IM&E is essential in the public sector, to both improve service delivery and ensure good governance. It is also argued that the M&E has the potential to support meaningful implementation, promote organisational development, enhance organisational learning and support service delivery.

Corporate Governance Structure and Institutional Investment: Evidence from a Developing Country

Author(s): Nwaiwu, Johnson Nkem
| Pages: 48--56
In recent times, the corporate governance structure debate has tended to expand the objective of business beyond the maximization of shareholders? wealth to include discharge of duty to the society. This study examines the influence of corporate governance structure and institutional investment of 32 listed companies on the NSE, covering the period of 2006-2010. The postulated hypotheses were tested, using multiple linear regression (MLR) analysis. The empirical results showed no significant influence between corporate governance and institutional investors. Rather, institutional investors exert a significant and, positive influence on corporate governance structure. The studies advocate that given more attention to the large institutional investment, since there is a positive relationship between corporate governance structure and the whole number of institutional investors. And a negative influence between corporate governance structure and volume of institutional investors. To have better monitoring by large institutional investors, they should set up board of investee companies in order to have wider bird?s view image the capital market authority and NSE should set regulations that prevent a percentage holding of share in the companies to protect the control by few institutional investors. The study also recommends further investigations into the influence of corporate governance structure and institutional investors, using larger sample size, covering more years, and including particularly the banking sectors that has witnessed major reforms since 2005 and plays a critical role in the economic development of Nigeria.

Human Resource Planning Management and Their Improving Method

Author(s): Ramezan Jahanian---Maryam Modaresi
| Pages: 29--31
Management should have suitable planning for all resource in his authority, nevertheless will have problem in estimating need and directing resource. In fact, planning is process that organization has combined all activities and trying for his purpose and his purpose is obtaining to organization result. Therefore planning is framework of management element. According to the role and importance of human resource could have effective role in developing organization. Planning human resource help to organization that ensure from the position of human resource, adding forces, lacking human resource in different parts or in balancing them and be sure that suitable staff in suitable job have in suitable time . Planning management of human resource will help to organization that estimate organization changing relate to his activities to least costs. Human resource planning makes us confident about the existence of unity and cohesion in personal activities. According this, giving a complete ,efficient model that could cover all human resource planning in a good way, is an unpreventable necessity.

Challenges and Prospects for School Based Mentoring in the Professional Development of Student Teachers in Zimbabwe: Academics, Mentees and Mentors Perceptions

Author(s): Maxwell C.C. Musingafi---Racheal Mafumbate
| Pages: 32--39
In this qualitative study we sought to establish the usefulness of school based mentoring in the professional development of student teachers in Zimbabwe using schools in Masvingo urban as case studies. The central question guiding us in this study focuses on what student teachers and their mentors felt towards the current school based student teachers practicum supervision. Many contemporary authorities believe that an effective teacher training programme can be ensured when both the school and the college (department of teacher?s training) work in tandem. They argue that whereas the college plays a leading role during the days of classroom-based theory exposition, this leading role is subsequently ceded to the field or school-based mentor. In the college, students are fed with theoretical concepts of the teaching and learning process. But these theories mean nothing if they do not guide practice. How then can we ensure that theories guide practice? Traditionally teaching practice (without mentors as we know them today) has been believed to be the best way of attaining this goal. In this study, most participants felt that both the college lecturer and an experienced and knowledgeable person in the school compound should supervise students on teaching practice. They agreed that school based supervision is of great value as it plays a critical role in the development of student teachers, but still it requires enough resources and the complementary role of the college professional supervisor.

Inbound Tourism and Social Factors in Nigeria: Evidence from an Ardl-Ecm Model

Author(s): Emmanuel Okokondem Okon
| Pages: 40--47
This paper investigated the relationship between social factors and inbound tourism in Nigeria between 1990 and 2012. Phillip Perron unit root test revealed stationarity of the variables at their first difference while the Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration also established the long run relationship among the variables. In the short run, LOG(ILL), LOG(CRM(-1))and DLOG(MPR(-1)) exhibited negatively significant relationship with inbound tourism in Nigeria while LOG(URB(-1)) has a positively significant relationship. The long run result indicates that LOG(URB) is positively related with tourism demand (LOG(TAR)). On the other hand, LOG(MPR) shows an inversely significant relationship with LOG(TAR). Nigerian government should still do more in the area of awareness of malaria prevention and compliance. Also, more commitment should be made in fighting illiteracy especially at the rural level.