American Economic & Social Review <div id="content"> <div id="journalDescription"> <p style="text-align: justify; text-justify: inter-word;"><img style="display: block; margin-left: auto; margin-right: auto;" src="" alt=""></p> <p style="text-align: justify; text-justify: inter-word;"><em><strong>American Economic &amp; Social Review (AESR)</strong></em> is a refereed international journal which is published semiannually. AESR is devoted to the publication of articles concerned with the economic and social problems facing America as well as other emergent nations of the world. It is intended to serve as a means of communication between teachers, research workers, planners, administrators and all others interested in the problems associated with economic development.&nbsp;</p> </div> </div> Centre for Research on Islamic Banking & Finance and Business en-US American Economic & Social Review 2576-1269 Population Growth and Economic Development in Bangladesh: Revisited Malthus <p>Bangladesh is the 2<sup>nd</sup> largest growing economy in the world in 2016 with 7.1% GDP growth. This study undertakes an econometric analysis to examine the relationship between population growth and economic development. This result indicates population growth adversely related to per capita GDP growth, which means rapid population growth, is a real problem for the development of Bangladesh. Malthus’s prediction is that population increases so rapidly and outstrip the food supply due to the operation of the law of diminishing return, which is proven wrong because of technological improvement, human capital development and so on in Bangladesh. Bangladesh has reduced its population growth by about 67% between 1979 and 2017 using different preventive checks suggested by Malthus and Mill. Bangladesh has been suffering from environmental degradation, loss of arable land, loos of agricultural land biodiversity loss and deforestation.&nbsp; As a consequence, the climate has changed dramatically, and species are in danger and extinction. Bangladesh Economy is growing with improving living standard at the cost of environmental degradation.</p> <p>&nbsp;</p> Md Niaz Murshed Chowdhury Md. Mobarak Hossain ##submission.copyrightStatement## 2019-06-21 2019-06-21 5 2 1 7 Nigeria and West Africa’s Silk Road: The New Crescent Economy <p>The ancient city of Kano that is now located in north western Nigeria was an important player in the Trans-Saharan trade that flourished before the advent of the Europeans. The Trans- Sahara trade also predates the Danfodio Jihad that established the Caliphate system across northern Nigeria. The trade was seen to have involved many of the Sahel states in present times, but most importantly cities that distinguished themselves in the production of various commodities like Timbuktu, Gao, Djenne and Sijilmasa in Morocco. Since the demise of such trade, many cities that have hitherto been part of it, have lost relevance in the economic affairs and have been struggling to create new economies and have not been able to do so in modern times. Kano had been the economic base of northern Nigeria and its economy had supported the entire north of Nigeria as a result of the Trans-Sahara trade. Kano became known for trade across the Sahel and the Sahara for its textile and other services that include dyeing of clothing that were sent to as far as Morocco. The paper takes a look at the ancient Sahel economy and Kano’s involvement and insists that for the economy of Northern Nigeria and that of Kano to be revamped, a new strategy will have to be developed. This strategy will look at reviving the ancient trade links that existed before and make for the construction of infrastructure, industries and necessary tourism potentials available. And that it is only by doing so that Kano as city will take its proper place among cities like Timbuktu and Gao, and impact on the economy of Northern Nigeria and by extension the Nigerian nation.</p> <p><strong><a href=""></a></strong></p> Yusuf Ibrahim Gamawa ##submission.copyrightStatement## 2019-06-21 2019-06-21 5 2 8 11 The “Deciles Implied Inequality Indices” for Expressing Income Distribution and Measuring Public Financial Burden of Equalization Policies <p>Different ways have been proposed to measure income inequality; there is no best way to calculate the inequality index that expresses income distribution as it is. Popular inequality indices provide information about some points on the distribution function and analyze the inequality of income without reference to the amount of the budget needed to improve the income distribution. In this paper, we propose a set of “Deciles Implied Inequality Indices”. By using this index, we can show how much transfer payment is needed as a redistribution policy to achieve a desired income distribution consistent with the perceived economic goals of the society. That is, we try to find a fiscal-compensation-based index for reducing inequality. By using “Deciles Implied Inequality Indices”, we may measure how much income (tax and subsidy) may be redistributed to reach the targeted income distribution policy.</p> Bijan Bidabad ##submission.copyrightStatement## 2019-07-06 2019-07-06 5 2 12 20 Naira Exchange Rate Variation and Nigeria Economic Growth: A Time Series Study <p>This study examined the effect of exchange rate variation on Nigeria economy. The objective was to investigate how Naira exchange rate variations against key currencies affect the country’s real gross domestic product. Time series data was sourced from Central Bank of Nigeria statistical bulletin. Real gross domestic products were modeled as the function of United State commodity currency, British commodity currency, Japanese yen currency, Chinese yen currency and French franc currency. The ordinary least square method was used as data analysis techniques. The study used cointegration, unit root, and granger causality test and error correction estimate to study the dynamic effects of commodity currencies on financial market. The study found that naira exchange rate variation with the currencies can explain 65 percent variation on Nigerian real gross domestic products while the remaining 35 percent estimation can be traced to external variables not included in the model. The estimated f-test proved that the model is fit while the estimated DW statistics found the presence of positive serial autocorrelation among the variables. The estimated beta coefficient of the variables revealed that commodity currency of US; Japanese yen and Chinese yen have positive and significant effect on Nigeria real gross domestic products while British pound and French Franc have negative effect on Nigeria real gross domestic products.&nbsp; From the co-integration test, we found at least two co-integrating equation from the trace test and maximum eigenvalue.&nbsp; The granger causality test found unidirectional causality from real gross domestic products to Chinese yen and from French Franc to real gross domestic products. The study found that in the long run, Japanese and Chinese yen and French Franc have negative long run effect on Nigeria real gross domestic products; while United States dollar and British Pound Sterling have positive long run effect on Nigeria gross domestic products. The study recommended amongst others that Monetary and macroeconomic policies should be properly articulated with an impregnable feedback loop, implemented to the letter, and a quarterly examination of the impact on the Naira should be regularly engaged, evaluated, interpreted and ensure that the results and possible remedial action(s) get to the appropriate authority timeously so as to ensure well informed decision(s).</p> Rev Canon Charles Ugochukwu Okoro Fortune Bella Charles ##submission.copyrightStatement## 2019-07-23 2019-07-23 5 2 21 31 Adaptation of Traditional Festivals to Natural Resources Conservation Education: Lessons from Osun-Osogbo and Argungun Fishing Festivals in Nigeria <p>Africa has been tagged a festival continent as year in year out, towns and villages witness cultural festivals throughout the year. These festivals are mostly concerned with resources conservation and utilization. The adoption of Western Model of conserving biodiversity in the trickle-down fashion has failed to yield reasonable result; whereas traditional festivals epitomize indigenous people’s respect and reverence for, and pragmatic understanding of, their natural environment. The quest of conserving biodiversity for sustainable development therefore calls for the integration of traditional festivals in sustainable resource management framework. In spite of the invaluable potentials of traditional festivals in biodiversity conservation as an indigenous resource management system, it has not been given a prominent place in the modern day scientific resource management framework. Using ethnographic research design, the paper exploits the natural resources conservation potentials of Osun-Osogbo and Argungun fishing festivals in Nigeria. Data are collected from archival, ethnographic and internet materials, as well as text books, pictures and information through interviews and observations. The paper presents an analysis of ways through which policy frameworks can benefit from festivals and how a wide audience can be reached with biodiversity conservation messages for the purpose of creating awareness. The paper develops a framework for ecosystem based adaptation, using indigenous festivals for the purpose of replicating it in every other community where such festivals do not exist and integrating it in festivals that are not based on natural resource conservation.</p> Adekunle Olatumile ##submission.copyrightStatement## 2019-07-24 2019-07-24 5 2 32 37 Socio-Demographic Predictors of Perceived Burden of Care among Care Givers of Non-Mentally and Mentally Retarded Students in Ibadan, Nigeria <p>The care of mentally retarded children is often stressful experiences for family members, as the child grows up and disability becomes quite noticeable by others, parents face a very distressing predicament of social embarrassment and stigma, they require more attention and time while at the same time the need for special equipment, and medical care increases; implicating financial income and capability of the care providers.&nbsp; The aftermath effect on the care provider(s) most often is restrictive and disruptive to economic, social or emotional deficiency. The study examines the influence of socio-demographic variables on care burden of care providers of non-mentally and mentally retarded students in Ibadan metropolis.&nbsp; The study adopted cross sectional research design across types of job, social support, religion, ethnicity and age. A total number of 100 care providers participated in the study (50 care providers of non-mentally retarded students &amp; 50 care providers of the mentally retarded students). The instruments that were used was Care Givers Burden Scale developed by Zarit et al (1980). The result of the study revealed that demographic variables (age, sex, marital status, education level, job type, religion and ethnicity) do not jointly predict burden of care among care providers of mentally retarded students in Ibadan metropolis. [F(7,43)=1.722;p&gt;.05], but revealed that demographic variables jointly predict burden of care among care providers of non-mentally retarded students in Ibadan metropolis. [F(7,43)=2.39;p&lt;.05], and finally revealed that social support had significant influence on burden of care among care providers of mentally retarded students in Ibadan metropolis [t(98)= 11.13; P&lt;.05]. The study therefore concludes that demographic variables jointly predict burden of care among care providers of non-mentally retarded students not mentally retarded students. While social support was found to significantly influence burden of care among care providers of mentally retarded students in Ibadan metropolis.</p> <p>&nbsp;</p> Olaseni Abayomi Oladele Okhakhume Aide Sylvester ##submission.copyrightStatement## 2019-07-24 2019-07-24 5 2 38 44 Dividend Decision and Economic Value Added of Quoted Nigeria Manufacturing Firms <p>This study examined the effect dividend decision and economic value added of quoted manufacturing firms in Nigeria. The objective is to examine if dividend decision have any effect on economic valued added of the Nigeria firms. Cross sectional data was sourced from financial statement of 15 quoted manufacturing firms. Economic valued added was proxy for dependent variables while dividend yield, dividend payout ratio, retention ratio and dividend per share were proxy for predictor variables. After cross examination of the validity of the pooled effect, fixed effect and the random effect, the study accepts the fixed effect model.&nbsp; Findings revealed that75 percent variation from the fixed effect results on economic value added of the manufacturing firms. Beta coefficient of the predictor variables&nbsp; found that dividend yield have negative effect on economic value added&nbsp; while dividend per share, dividend payout ratio and retention ratio has positive and significant effect&nbsp; on economic value added&nbsp; of the quoted manufacturing firms.&nbsp; It’s therefore recommend that constant dividend decision should be maintained among the quoted manufacturing firms and retention forms should be properly invested and the investment environment should be well managed to increase economic value added through the dividend decision channel.</p> Agilebu Ogechi Michael ##submission.copyrightStatement## 2019-07-25 2019-07-25 5 2 45 59