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Successes and Challenges in Industrial Clusters: Some Empirical Evidence from Wood Industrial Cluster in Kumasi, Ghana
Martin Amoah,
Gbapenuo Enoch,
Peter Kessels Dadzie,
Joseph Asomani
Issue:
Volume 7, Issue 1, February 2018
Pages:
1-12
Received:
22 October 2017
Accepted:
21 November 2017
Published:
5 March 2018
Abstract: This study examined some successes and challenges of a wood cluster in Kumasi, Ghana. A concurrent mixed method comprising survey, regression analysis, and correlation analysis were adopted to probe into how the effects of interconnections among firms in the cluster, the successes chalked and the challenges firms face in the cluster. Results showed significant (p < 0.001) interconnections among actors contributed to significant increase in productivity, sales and profit margins of the firms. Majority (93.4%) of respondents affirmed appreciable increases in sales and profit margins demonstrating that the cluster has been a major driver of economic growth. Permanent site for the artisans and other actors was the major benefit, provided by the cluster. However, lack of access to bank loans, timber, and waste management facility, promoting and marketing of products are some challenges associated with the cluster. Interventions from government and other agencies are required to create the enabling environment to attract investors that can help in addressing the challenges so as to stimulate growth of the wood and furniture enterprises in the cluster as they have greater potential for Ghana’s economic development.
Abstract: This study examined some successes and challenges of a wood cluster in Kumasi, Ghana. A concurrent mixed method comprising survey, regression analysis, and correlation analysis were adopted to probe into how the effects of interconnections among firms in the cluster, the successes chalked and the challenges firms face in the cluster. Results showed...
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Goods and Service Tax in India: Basic Concepts and Features
Issue:
Volume 7, Issue 1, February 2018
Pages:
13-18
Received:
2 February 2018
Accepted:
16 February 2018
Published:
16 March 2018
Abstract: This paper is an analysis of the impact of GST (Goods and Services Tax) on Indian Tax Scenario. The Good and services tax (GST) is the biggest and substantial indirect tax reform since the year 1947. The main idea of GST is to take over existing taxes like value-added tax, excise duty, service tax and sales tax. GST will be levied on manufacturing of sales and consumption of goods and services and is expected to address the tumble effect of the existing tax structure and result in uniting the country economically. Its main objective is to maintain a plebeian between the basic structure and design of the CGST, SGST and SGST between states. GST is a new story of VAT which gives a widespread setoff for input tax credit and contains many indirect taxes from state and national level. The main aim of GST is to create a single, unified market which will benefit in the development of country’s economy. India is a democratic country and therefore the GST will be implemented parallel by the central and state governments respectively. In this article, I have discussed GST and highlighted on the objectives of it. Consequently, I also put a light on the possible challenges, threats, and opportunities that GST brings to strengthen the free market economy. Finally, the paper examines and draws out a conclusion.
Abstract: This paper is an analysis of the impact of GST (Goods and Services Tax) on Indian Tax Scenario. The Good and services tax (GST) is the biggest and substantial indirect tax reform since the year 1947. The main idea of GST is to take over existing taxes like value-added tax, excise duty, service tax and sales tax. GST will be levied on manufacturing ...
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Sustainable Approach for Poverty Reduction in Rwanda
Issue:
Volume 7, Issue 1, February 2018
Pages:
19-24
Received:
12 February 2018
Accepted:
1 March 2018
Published:
20 March 2018
Abstract: The notion of smart solution is globally perceived as the process of enduring values in terms of its characteristics and meanings that are economically viable, environmentally friendly, socially acceptable, and humanly beneficial. The social, economic, environmental, and human sustainability is the best integrated approach in the poverty reduction. Though poverty remains global challenge, there is a need for sustainable approach reflected in the requisite capabilities, partnership features, and indispensible capitals for its reduction. In Rwanda, several challenges still retard all initiatives to fight poverty. These include shortage of household capabilities and indispensable as well as more private sector centered partnership for poverty reduction. But an integrated approach which treats environmental, economic, social, and technical aspects as one component is crucial for shared responsibilities of different parties in poverty reduction.
Abstract: The notion of smart solution is globally perceived as the process of enduring values in terms of its characteristics and meanings that are economically viable, environmentally friendly, socially acceptable, and humanly beneficial. The social, economic, environmental, and human sustainability is the best integrated approach in the poverty reduction....
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Effect of Investment in Healthcare One Economic Development in Kenya
Jane Njoki Murango,
Wabuyabo-Okonga B. M.
Issue:
Volume 7, Issue 1, February 2018
Pages:
25-34
Received:
9 January 2018
Accepted:
24 February 2018
Published:
2 April 2018
Abstract: Economic development can generally refer to an ikncrease in a country's ability to produce goods and services identified by factors such as production, income and spending. Investment in health in this way becomes a significant variable for economic growth or development since investments in different components of health can lead to improved human capital. Kenya has low investment in the health sector which may adversely affect economic development. The purpose of this study was to explore the effect of investment in health on the economic development in Kenya. The specific objectives were to investigate the effect of public investment in health, private investment and investment in health by international non-governmental organizations on the development of the economy of Kenya. A descriptive research design was used in this study. Secondary time series data for 32 years (1985-2016) was collected from Kenya National Bureau of Statistics (KNBS), Institute of Economic Affairs (EIA), World Bank, Ministry of Finance and Ministry of Devolution and Planning. Data analysis was conducted using Stata statistical software. VECM time series model was fitted to the data. Augmented Dickey Fuller unit root test and Johansen test of cointegration were conducted to ensure stationarity of the data. The study results suggested that both public investment in health (β = 0.1149; p < 0.05) and private investment in health sector (β = 0.2407; p < 0.05) have significant positive effect on economic development. The study results, however, showed that investment in health sector by INGOs have no significant effect on economic development in Kenya (β = 0.3232; p > 0.05). The study makes the following recommendations. First, the government should channel more funding to the health sector as the current funding of 3.4% of GDP falls below the 7% set by the Abuja Declaration in 2001. Secondly, private entities should be encouraged to increase their investment in the health sector in the country. Lastly, the ministry of health and other government stakeholders should partner with private health service providers and come up with a framework to ensure that private health sector increases its funding to fill up financial deficit health sector. This is because the research concluded that the private health has significant contribution to the overall performance of the health sector.
Abstract: Economic development can generally refer to an ikncrease in a country's ability to produce goods and services identified by factors such as production, income and spending. Investment in health in this way becomes a significant variable for economic growth or development since investments in different components of health can lead to improved human...
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Economic Analysis of Broiler Production in Lagos State Poultry Estate, Nigeria
Issue:
Volume 7, Issue 1, February 2018
Pages:
35-44
Received:
15 February 2018
Accepted:
16 March 2018
Published:
9 April 2018
Abstract: The study on the economic analysis of broiler production was carried out in Lagos State Ministry of Agriculture and Cooperative’ Poultry Estates, Nigeria. A two-stage sampling technique was employed for the selection of 100 out of 193 broiler farmers. The research findings revealed a male dominance (73%) in broiler production and an average age of 45 years within the range of 40 and 49. Also, majority of the broiler farmers (90%) were fully involved in broiler production, married (80%) and literate (90%), with an average farming experience of less than 9 years (81%), average household size of 4 persons (78%) and an average flock size of about 400 birds. It was found that over 80% of the cost of production was on the variable inputs while feeds constituted the highest percentage of the variable costs. This accounted for 54.86% of variable costs and 44.8% of the total costs. The result of the findings showed that a single broiler bird nurtured to maturity had a total cost of ₦1509.8 made up of ₦274.2 as fixed cost and ₦1235.6 as variable cost. The gross revenue per bird was ₦2169.99. The Net profit of ₦660.11 per bird was estimated and this gives a net margin-to-cost ratio of 0.44 which implies that a ₦1 investment in broiler production, all things being equal, would yield 44kobo in return. This indicates that the broiler in poultry estate were profitable. The maximum likelihood estimate of the stochastic frontier production function reveals that quantity of feeds and flock size were highly significant at 5% and 1% risk level respectively. Educational level of farmers and years of experience were the factors positively influencing the technical efficiency of broiler production in the study area. The estimated technical efficiency of the broiler farmers ranged from 57% to 96% with a mean technical efficiency of 74%. Disease outbreak, inadequate finance and high cost of feed were the serious problems faced by the farmers. It was therefore recommended that broiler farmers should increase their flock size, develop the skills of record keeping and feed formulation to reduce feed cost.
Abstract: The study on the economic analysis of broiler production was carried out in Lagos State Ministry of Agriculture and Cooperative’ Poultry Estates, Nigeria. A two-stage sampling technique was employed for the selection of 100 out of 193 broiler farmers. The research findings revealed a male dominance (73%) in broiler production and an average age of ...
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