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Research paper thumbnail of Trends in Stock Market in Sub-Saharan Africa Trends in Stock Market in Sub-Saharan Africa

This study uses a panel data, to study the recent contribution of stock markets in economic growt... more This study uses a panel data, to study the recent contribution of stock markets in economic growth in 6 selected countries of sub-Saharan Africa from 1991-2009. Over the last two decades, most of the countries in sub-Sahara Africa have either gone through one form of Market oriented reform of its economy or trade liberalization. However, these market oriented reforms are just beginning to yield dividends in some areas of the economy. These results show that private capital stock market development measured by market capitalization and stock turnover ratio, and foreign direct investment have positive significant correlations with growth in per capita output in the selected sub-Saharan African countries. These results point to the positive correlation between market liberalization, economic reforms and increase in stock market capitalization as well as the liquidity measured by stock traded turnover ratio. More importantly, the negative correlation between financial crisis and growth ...

Research paper thumbnail of Understanding How Socioeconomic Status is Correlated with Health Disparities among Children in Mississippi

Research paper thumbnail of Differentials in Infant and Child Mortality in Nigeria: Evidence from Pooled 2003 and 2008 DHS Data

Advances in Management and Applied Economics, 2017

The objective of this study is to examine the zonal differences in the role wealth, education and... more The objective of this study is to examine the zonal differences in the role wealth, education and religion play in child and infant mortality in Nigeria. This study utilized 2003 and 2008 DHS pooled data of Nigeria. Logistic regression analysis technique is used to examine the difference in odds of mortality between the different wealth quintiles within urban and rural areas. The study used logistic regression technique to enable us to obtain the odds ratio of which group has lower or higher odds of child mortality based on wealth quintile and on geographic location in the various zones of Nigeria. Our findings show that education and wealth are significant factors in explaining the urban-rural differences in infant and child mortality rates in Nigeria. We also find that the risk of both infant and child mortality is higher in the Northwest and Northeast zones of Nigeria than any other zones. Also, the southwest region has the lowest risk of both infant and child mortalities in Nige...

Research paper thumbnail of Trends and Disparities in Infant and Child Mortality in Nigeria Using Pooled 2003 and 2008 Demographic and Health Survey Data

SAGE Open, 2015

We analyze infant and under-5 mortality trends in Nigeria using data from the demographic and hea... more We analyze infant and under-5 mortality trends in Nigeria using data from the demographic and health surveys (DHS) of 2003 and 2008. We use pooled data to enable us carry out logistic regression analysis at the state level and allow for robustness of our results. Our analysis shows wide disparities in both infant and under-5 mortality rates in the six geopolitical zones of Nigeria and the 36 states and the Federal Capital Territory Abuja. Furthermore, the results show highly significant differences in infant and under-5 mortality rates among the six geopolitical zones and among the 36 states of Nigeria. Our result shows that urban advantage over rural areas in under-5 mortality rate only exist among the richest quintiles in Nigeria. We find no evidence of statistically significant difference between the urban poorest and poorer quintiles and the rural poorest and poorer quintiles in both infant and under-5 mortality in Nigeria. We find wealth, educational attainment of the mother, t...

Research paper thumbnail of The Disparities on Loss of Employment Income by US Households During the COVID-19 Pandemic

Journal of Economics, Race, and Policy, 2021

Research paper thumbnail of Racial/Ethnic Differences on Payday Loan Delinquency Rate: Evidence from 2007 and 2010 Survey of Consumer Finances (SCF)

Advances in Management and Applied Economics, 2014

This study examined the differences in household payday loan delinquency rates of the racial/ethn... more This study examined the differences in household payday loan delinquency rates of the racial/ethnic groups. The study uses combined data from 2007 and 2010 surveys of consumer finances(SCF). The study found that payday loan borrowers are more likely to be delinquent than non-payday loan borrowers. 11.84% of payday loan borrowers were delinquent compared with 2.28% for non-payday loan borrowers over the same period. Also, Payday loan borrowers are more likely to have missed a payment in the last 12 months. 8.3% of payday loan borrowers reported missing a payment in the last 12 months compared with 1.8% of non-payday loan borrowers who missed a payment over the past 12 months. The study found that African Americans and Hispanics have higher payday loan participation rate than whites and Asians over the study period.

Research paper thumbnail of Disparities and Inequality in Infant and Child Mortality among the 36 states and Federal Capital Territory (FCT, Abuja), Nigeria

Journal of Health Care for the Poor and Underserved

Research paper thumbnail of The Role of Income and Location in Racial/Ethnic Differences on Loan Denial in three Mississippi Counties

Journal of Economics and Development Studies

This paper investigates the racial differences in loan denial rates in three Mississippi counties... more This paper investigates the racial differences in loan denial rates in three Mississippi counties within the Jackson Metropolitan statistical area (MSA). The study examines the role of location, minority population of location, and the ratio of loan amount to income on loan denial rates. The study uses Home Mortgage Disclosure Data (HMDA) from 2007 to 2013 to capture the effects of the recent financial crisis on loan denial rates. The results show that the ratio of loan amounts to income is a significant determinant in loan denial rates. Moreover, residents in Rankin County are more likely to be denied loans than residents in Hinds and Madison counties over the study period. Residents in high minority population area are more likely to be denied loans than residents in low minority population areas. The researchers employed both logistic regression and Blinder-Oaxaca decomposition analysis. The results showed that 28.89% of the difference in loan denial rates between whites and African Americans is explained by endowments, while 64.94% is unexplained. Similarly, 12.87% of the difference in loan denial rates between Hispanics and Whites is explained by endowments, while 86.91% is unexplained.

Research paper thumbnail of Disparities and Inequality in Infant and Child Mortality among the 36 states and Federal Capital Territory (FCT, Abuja), Nigeria

Journal of Health Care for the Poor and Underserved

Research paper thumbnail of The Role of Wealth and Mother’s Education in Infant and Child Mortality in 26 Sub-Saharan African Countries: Evidence from Pooled Demographic and Health Survey (DHS) Data 2003–2011 and African Development Indicators (ADI), 2012

Social Indicators Research, 2016

Research paper thumbnail of The Role of Central Banks in Developing Countries

Research paper thumbnail of foreign direct investment, exports, and education on economic growth in sub-saharan Africa

International Research Journal of Finance and Economics

Research paper thumbnail of Racial\Ethnic Differences on Payday Loan Delinquency Rate: Evidence from 2007 and 2010 Survey of Consumer Finances (SCF)

This study examined the differences in household payday loan delinquency rates of the racial/ethn... more This study examined the differences in household payday loan delinquency rates of the racial/ethnic groups. The study uses combined data from 2007 and 2010 surveys of consumer finances(SCF). The study found that payday loan borrowers are more likely to be delinquent than non-payday loan borrowers. 11.84% of payday loan borrowers were delinquent compared with 2.28% for non-payday loan borrowers over the same period. Also, Payday loan borrowers are more likely to have missed a payment in the last 12 months. 8.3% of payday loan borrowers reported missing a payment in the last 12 months compared with 1.8% of non-payday loan borrowers who missed a payment over the past 12 months. The study found that African Americans and Hispanics have higher payday loan participation rate than whites and Asians over the study period.

Research paper thumbnail of the role of stock market in sub-Saharan African economies

Research paper thumbnail of Foreign Direct Investment Into African Nationa

The paper surveys the inflow of foreign direct investment into 10 African countries in the period... more The paper surveys the inflow of foreign direct investment into 10 African countries in the period 1970 to 2000. The countries were selected to reflect differences in size and economic development as well as to reflect all the regions of the continent. It was found that, on a per capita basis, there was a higher inflow of foreign direct investment into those countries that allow greater relative economic freedom and those that have a legal environment that protects property rights. It is suggested that in order to attract greater inflows of foreign direct investment in the future, African nations need to accelerate progress towards more open economies, greater economic freedom and a legal environment that guarantees property rights.

Research paper thumbnail of analysis of the population trap syndrome with U.S. State level data

Research paper thumbnail of trends in stock market in sub-saharan Africa

Research paper thumbnail of The Effect of Trade and Development Policies on Agricultural Output in Nigeria

Research paper thumbnail of The role of wealth in infant mortality in sub-Saharan Africa within urban and between urban and rural areas

Research paper thumbnail of Racial/Ethnic Differences in Household Loan Delinquency Rate

The Review of Black Political Economy, 2015

ABSTRACT This study investigates the differences in household loan delinquency rates of racial/et... more ABSTRACT This study investigates the differences in household loan delinquency rates of racial/ethnic groups. The study examines the role of demographic and socioeconomic characteristics of households, financial buffers, economic and financial triggers, high debt service ratio, and credit constraint in household delinquency. The study uses combined data from 2001, 2004, 2007, and 2010 Surveys of Consumer Finances (SCF). Having combined data allowed the separation of African Americans from Hispanics in this study. We employed both logistic regression and Blinder-Oaxaca decomposition analysis. The use of combined data from four survey years ensures the robustness of statistical results and analysis. The findings show that events that constitute shocks or triggers to households have a more significant impact on delinquency rate. The study found that payday loan borrowers are 4.6 times more likely to be delinquent on their loans than non-payday loan borrowers between 2007 and 2010. Also, the study finds significant statistical difference of delinquency rates among the racial/ethnic groups. Our results show that high debt service ratio (DSR) and being credit constrained have significant impact on the delinquency rates for all races. The results obtained showed that 59.96 % of the difference in delinquency between Whites and African Americans is explained by endowments, while 40.04 % is unexplained. Similarly, 97.35 % of the difference in delinquency between Hispanics and whites is explained by endowments, while 2.65 % of the difference is unexplained or is attributable to discrimination.

Research paper thumbnail of Trends in Stock Market in Sub-Saharan Africa Trends in Stock Market in Sub-Saharan Africa

This study uses a panel data, to study the recent contribution of stock markets in economic growt... more This study uses a panel data, to study the recent contribution of stock markets in economic growth in 6 selected countries of sub-Saharan Africa from 1991-2009. Over the last two decades, most of the countries in sub-Sahara Africa have either gone through one form of Market oriented reform of its economy or trade liberalization. However, these market oriented reforms are just beginning to yield dividends in some areas of the economy. These results show that private capital stock market development measured by market capitalization and stock turnover ratio, and foreign direct investment have positive significant correlations with growth in per capita output in the selected sub-Saharan African countries. These results point to the positive correlation between market liberalization, economic reforms and increase in stock market capitalization as well as the liquidity measured by stock traded turnover ratio. More importantly, the negative correlation between financial crisis and growth ...

Research paper thumbnail of Understanding How Socioeconomic Status is Correlated with Health Disparities among Children in Mississippi

Research paper thumbnail of Differentials in Infant and Child Mortality in Nigeria: Evidence from Pooled 2003 and 2008 DHS Data

Advances in Management and Applied Economics, 2017

The objective of this study is to examine the zonal differences in the role wealth, education and... more The objective of this study is to examine the zonal differences in the role wealth, education and religion play in child and infant mortality in Nigeria. This study utilized 2003 and 2008 DHS pooled data of Nigeria. Logistic regression analysis technique is used to examine the difference in odds of mortality between the different wealth quintiles within urban and rural areas. The study used logistic regression technique to enable us to obtain the odds ratio of which group has lower or higher odds of child mortality based on wealth quintile and on geographic location in the various zones of Nigeria. Our findings show that education and wealth are significant factors in explaining the urban-rural differences in infant and child mortality rates in Nigeria. We also find that the risk of both infant and child mortality is higher in the Northwest and Northeast zones of Nigeria than any other zones. Also, the southwest region has the lowest risk of both infant and child mortalities in Nige...

Research paper thumbnail of Trends and Disparities in Infant and Child Mortality in Nigeria Using Pooled 2003 and 2008 Demographic and Health Survey Data

SAGE Open, 2015

We analyze infant and under-5 mortality trends in Nigeria using data from the demographic and hea... more We analyze infant and under-5 mortality trends in Nigeria using data from the demographic and health surveys (DHS) of 2003 and 2008. We use pooled data to enable us carry out logistic regression analysis at the state level and allow for robustness of our results. Our analysis shows wide disparities in both infant and under-5 mortality rates in the six geopolitical zones of Nigeria and the 36 states and the Federal Capital Territory Abuja. Furthermore, the results show highly significant differences in infant and under-5 mortality rates among the six geopolitical zones and among the 36 states of Nigeria. Our result shows that urban advantage over rural areas in under-5 mortality rate only exist among the richest quintiles in Nigeria. We find no evidence of statistically significant difference between the urban poorest and poorer quintiles and the rural poorest and poorer quintiles in both infant and under-5 mortality in Nigeria. We find wealth, educational attainment of the mother, t...

Research paper thumbnail of The Disparities on Loss of Employment Income by US Households During the COVID-19 Pandemic

Journal of Economics, Race, and Policy, 2021

Research paper thumbnail of Racial/Ethnic Differences on Payday Loan Delinquency Rate: Evidence from 2007 and 2010 Survey of Consumer Finances (SCF)

Advances in Management and Applied Economics, 2014

This study examined the differences in household payday loan delinquency rates of the racial/ethn... more This study examined the differences in household payday loan delinquency rates of the racial/ethnic groups. The study uses combined data from 2007 and 2010 surveys of consumer finances(SCF). The study found that payday loan borrowers are more likely to be delinquent than non-payday loan borrowers. 11.84% of payday loan borrowers were delinquent compared with 2.28% for non-payday loan borrowers over the same period. Also, Payday loan borrowers are more likely to have missed a payment in the last 12 months. 8.3% of payday loan borrowers reported missing a payment in the last 12 months compared with 1.8% of non-payday loan borrowers who missed a payment over the past 12 months. The study found that African Americans and Hispanics have higher payday loan participation rate than whites and Asians over the study period.

Research paper thumbnail of Disparities and Inequality in Infant and Child Mortality among the 36 states and Federal Capital Territory (FCT, Abuja), Nigeria

Journal of Health Care for the Poor and Underserved

Research paper thumbnail of The Role of Income and Location in Racial/Ethnic Differences on Loan Denial in three Mississippi Counties

Journal of Economics and Development Studies

This paper investigates the racial differences in loan denial rates in three Mississippi counties... more This paper investigates the racial differences in loan denial rates in three Mississippi counties within the Jackson Metropolitan statistical area (MSA). The study examines the role of location, minority population of location, and the ratio of loan amount to income on loan denial rates. The study uses Home Mortgage Disclosure Data (HMDA) from 2007 to 2013 to capture the effects of the recent financial crisis on loan denial rates. The results show that the ratio of loan amounts to income is a significant determinant in loan denial rates. Moreover, residents in Rankin County are more likely to be denied loans than residents in Hinds and Madison counties over the study period. Residents in high minority population area are more likely to be denied loans than residents in low minority population areas. The researchers employed both logistic regression and Blinder-Oaxaca decomposition analysis. The results showed that 28.89% of the difference in loan denial rates between whites and African Americans is explained by endowments, while 64.94% is unexplained. Similarly, 12.87% of the difference in loan denial rates between Hispanics and Whites is explained by endowments, while 86.91% is unexplained.

Research paper thumbnail of Disparities and Inequality in Infant and Child Mortality among the 36 states and Federal Capital Territory (FCT, Abuja), Nigeria

Journal of Health Care for the Poor and Underserved

Research paper thumbnail of The Role of Wealth and Mother’s Education in Infant and Child Mortality in 26 Sub-Saharan African Countries: Evidence from Pooled Demographic and Health Survey (DHS) Data 2003–2011 and African Development Indicators (ADI), 2012

Social Indicators Research, 2016

Research paper thumbnail of The Role of Central Banks in Developing Countries

Research paper thumbnail of foreign direct investment, exports, and education on economic growth in sub-saharan Africa

International Research Journal of Finance and Economics

Research paper thumbnail of Racial\Ethnic Differences on Payday Loan Delinquency Rate: Evidence from 2007 and 2010 Survey of Consumer Finances (SCF)

This study examined the differences in household payday loan delinquency rates of the racial/ethn... more This study examined the differences in household payday loan delinquency rates of the racial/ethnic groups. The study uses combined data from 2007 and 2010 surveys of consumer finances(SCF). The study found that payday loan borrowers are more likely to be delinquent than non-payday loan borrowers. 11.84% of payday loan borrowers were delinquent compared with 2.28% for non-payday loan borrowers over the same period. Also, Payday loan borrowers are more likely to have missed a payment in the last 12 months. 8.3% of payday loan borrowers reported missing a payment in the last 12 months compared with 1.8% of non-payday loan borrowers who missed a payment over the past 12 months. The study found that African Americans and Hispanics have higher payday loan participation rate than whites and Asians over the study period.

Research paper thumbnail of the role of stock market in sub-Saharan African economies

Research paper thumbnail of Foreign Direct Investment Into African Nationa

The paper surveys the inflow of foreign direct investment into 10 African countries in the period... more The paper surveys the inflow of foreign direct investment into 10 African countries in the period 1970 to 2000. The countries were selected to reflect differences in size and economic development as well as to reflect all the regions of the continent. It was found that, on a per capita basis, there was a higher inflow of foreign direct investment into those countries that allow greater relative economic freedom and those that have a legal environment that protects property rights. It is suggested that in order to attract greater inflows of foreign direct investment in the future, African nations need to accelerate progress towards more open economies, greater economic freedom and a legal environment that guarantees property rights.

Research paper thumbnail of analysis of the population trap syndrome with U.S. State level data

Research paper thumbnail of trends in stock market in sub-saharan Africa

Research paper thumbnail of The Effect of Trade and Development Policies on Agricultural Output in Nigeria

Research paper thumbnail of The role of wealth in infant mortality in sub-Saharan Africa within urban and between urban and rural areas

Research paper thumbnail of Racial/Ethnic Differences in Household Loan Delinquency Rate

The Review of Black Political Economy, 2015

ABSTRACT This study investigates the differences in household loan delinquency rates of racial/et... more ABSTRACT This study investigates the differences in household loan delinquency rates of racial/ethnic groups. The study examines the role of demographic and socioeconomic characteristics of households, financial buffers, economic and financial triggers, high debt service ratio, and credit constraint in household delinquency. The study uses combined data from 2001, 2004, 2007, and 2010 Surveys of Consumer Finances (SCF). Having combined data allowed the separation of African Americans from Hispanics in this study. We employed both logistic regression and Blinder-Oaxaca decomposition analysis. The use of combined data from four survey years ensures the robustness of statistical results and analysis. The findings show that events that constitute shocks or triggers to households have a more significant impact on delinquency rate. The study found that payday loan borrowers are 4.6 times more likely to be delinquent on their loans than non-payday loan borrowers between 2007 and 2010. Also, the study finds significant statistical difference of delinquency rates among the racial/ethnic groups. Our results show that high debt service ratio (DSR) and being credit constrained have significant impact on the delinquency rates for all races. The results obtained showed that 59.96 % of the difference in delinquency between Whites and African Americans is explained by endowments, while 40.04 % is unexplained. Similarly, 97.35 % of the difference in delinquency between Hispanics and whites is explained by endowments, while 2.65 % of the difference is unexplained or is attributable to discrimination.