Showing papers in "Journal of Emerging Trends in Economics and Management Sciences in 2011"

Health care expenditure and economic growth in Nigeria : an empirical study

Abstract: This paper investigated the relationship between health care expenditures and economic growth in Nigeria. The ordinary least square multiple regression analytical method was used to examine the relationship between health care expenditures and economic growth. The data analysis showed a significant and positive relationship between health care expenditures and economic. The study thus recommended that Nigerian policy makers should pay closer attention to the health sector by increasing its yearly budgetary allocation to the sector. Nevertheless the key to good results lies not in ordinarily increasing particular budgetary allocation but rather in implementing a public finance system that, to the extent possible, links specific expenditure and revenue decisions and ensure the usage of the allocated fund as transparently as possible.

Abandonment of construction projects in Nigeria : causes and effects

Abstract: This paper determined the causes and effects of abandonment of projects in Nigeria. Structured questionnaireswere distributed to Quantity Surveyors, Civil Engineers, Architects, Builders, and Contractors that have practiced in the South Western Nigeria (Ondo, Osun, Ogun, Ekiti, Oyo, and Lagos States)for at least ten years. The sixty-two well completed questionnaire formed the basis of the study and were analyzed by the Relative Importance Index (R.I.I.). The result from the study showed the causes of project abandonment as inadequate project planning; inadequate fund, inflation, bankruptcy of Contractor, variation of project scope, political factor, death of client, incompetent project manager, wrong estimate, inadequate cost control, faulty design and delayed payment. Effects of project abandonment from the study are disappointment of the populace/users, lowliving standard, wastage of resources, reduction in employment opportunities, decrease in tempo of constructionactivities, decrease in revenue accruing to government, difficulty in attracting foreign loans. To drastically reduce these negative effects; clients should undertake adequate project planning, possess enough fund for the project, engage contractor that have strong financial stand for their project. Architects should once and for all at inception produce detailed design dictated by the cost plan prepared by the Quantity Surveyor who does the cost control from inception to completion of project. Client should form the habit of making payment to contractors promptly as at when due. The Government should also make strong efforts to reduce inflation and when thereâ??s change of administration, previously commenced project should not be abandoned.

Budget deficit and inflation in Nigeria : a causal relationship

Abstract: The study investigates the nature and direction of causality among the two variables. This is with a view to providing empirical evidence on budget deficit operation in stimulating economic growth through inflation in Nigeria. Secondary data were used in this study. Data on inflation rate, exchange rate, Gross Domestic Product (GDP) and budget deficit were collected from statistical Bulletin and Annual Report and Statement of Account published by the Central Bank of Nigeria (CBN) and the International Financial Statistics (IFS) published by International Monetary Fund (IMF). Granger Causality pair wise test was conducted in determining the causal relationship among the variables. The result showed that there was no causal relationship from inflation to budget deficit (F = 0.9, P > 0.005), while the causal relationship from budget deficit to inflation was significant (F = 3.6, P < 0.05). This implies that a uni-directional causality from budget deficit to inflation exist in Nigeria. Furthermore, the result showed that budget deficit affects inflation directly and indirectly through fluctuations in exchange rate in the Nigerian economy.

Effectiveness of internal audit as instrument of improving public sector management

Abstract: The research centered on the use of auditing to improving public sector management using Kano state ministry of finance. Kano state is one of the developed states in Nigeria. In carrying out the research, hypotheses were stipulated, which basically questioned the significant existence of auditing departments in public sector and the effectiveness of auditing in checking frauds in pursuance of constant complain that internal audit department is too understaffed and under resource generally to be fully effective. To test these hypotheses, Chi-square statistical tool was employed. We found out that the Internal audit can effectively check fraud and fraudulent activities in the Public Sector and that Public Sectors in Kano State have significant numbers of Internal Audit Departments to function effectively. It is recommended that Government should provide an adequately equip staff with electronic data processing and also maintains an environment within which internal auditors can have sufficient freedom to accomplish their task efficiently.

Accounting skill as a performance factor for small businesses in Nigeria

Abstract: Poverty reduction in Nigeria is seen as the most important of the Millennium Development Goals as adopted by the United Nations Millennium Summit of 2000. Studies have also shown small businesses as vehicles for growth and development of a nation thus requiring much attention. Further evidences showed that small businesses are affected by several many factors with major emphasis on funding. Despite the increased number of small businesses in Nigeria, the rate of business failure is alarming. It is expected that small businesses entrepreneurs possess distinct skills found to have greater effect on their performances for their development. The study thus attempted to investigate the effect of accounting skill on entrepreneur performance for the success of small businesses in Nigeria. Accounting skill was found to be contributory to entrepreneurial performance and as such, owner entrepreneurs are advised to embark on capacity building in accounting skill in the area of financial management and record keeping while the government make preparation of financial statement for performance monitoring mandatory for small business owners.

Determinants of share prices in India

Abstract: The focus of this study is to identify the determinants of share prices in the Indian market. The study uses panel data pertaining to three sectors viz., auto, healthcare and public sector undertakings over the period 2000-2009 and employs the fully modified ordinary least squares method. The results indicate that the variables dividend, price-earnings ratio and leverage are significant determinants of share prices for all the sectors under consideration. Further, profitability is found to influence share prices only in the case of auto sector.

Entrepreneurship development : a panacea for unemployment reduction in Nigeria

Abstract: This paper examines the need for promoting employment in Nigeria through the development of entrepreneurship. This paper relies on secondary data from the Central Bank of Nigeria's Statistical Bulletin and CIA Fact Sheet and other institutional publications to provide empirical basis for the study. A multiple regression statistical tool was used for analysis. The result did not support the theoretical formulation in the study. The paper however concludes that the government and its agencies should deliberately encourage entrepreneurial culture and skills in Nigeria in order to attack the level of unemployment situation in the country.

Education and economic growth : the Nigerian experience

Abstract: The paper considers the relation that is established between education and economic growth in Nigeria. Education is seen here as representing one of the primary components of human capital formation, which is an important factor in modeling the endogenous growth. Human capital is essentially important in achieving a sustainable economic growth; however, the greatest contribution is accomplished through investment in the quality and quantity of education. Time series data were collected between 1980 and 2008, and ordinary least squares technique was used to estimate the model. It was discovered that education investments have direct and significant impact on economic growth in Nigeria. It was therefore recommended that government at all levels should increase their funding on different segments of education in the country.

Corruption in the construction industry of Nigeria : causes and solutions

Abstract: This study quantitatively determined the causes of corruption in the construction industry of Nigeria. Questionnaires were administered to Quantity Surveyors, Architects, Civil Engineers, Builders and Contractors who have for at least ten year practiced in the South Western States of Nigeria (Ondo, Ekiti, Osun, Oyo, Ogun and Lagos States). The sixty-six well completed questionnaire retrieved from the respondents formed the data that were analyzed by the Relative Importance Index (R.I.I). the study showed the causes of corruption as: poverty, excessive love for money (greed). politics in the award of contract/godfatherism, professionalindiscipline, profit maximization by Contractor, quackery, fall-out of endemic societal corruption and favouritism. To reduce the incidence of corruption in the Nigeria construction industry, the causes as outlined above have to be dealt with respectively by government, contractor, individuals connected with contract awards and by construction professionals.

Determinants of unemployment in Limpopo province inSouth Africa : exploratory studies

Abstract: Employment is one of the most significant determinants of the welfare of any nation. Any significant changes in employment will subsequently affect the living standard of the household. South Africa suffers from high unemployment rates, with the official unemployment rate rising from 15.6 percent in 1995 to a peak of 30.3 percent (2001) and currently about 29 percent. Limpopo tends to have the highest proportion of rural dwellers in the South Africa, hence it is expected that conditions in the province are inferior to the national average; implying higher unemployment rate. After the demise of apartheid (post-1994), the supply of labor increased dramatically, but as the economy grew, there was a drastic shift towards a more skilled based economy creating massive lay-off. This study attempts to find the determinants of unemployment in Limpopo province using annual census data from Global Insight. Regression, Principal Component and Cluster analyses have been employed in this study. Five variables, race, age, education, gender and GDP were categorized into fifteen as independent variables. The results show that unemployment is concentrated at qualifications below the degree. That GDP, male, matriculation and youth have no significant relationship with unemployment. Rather the model reveals that females, postgraduate studies, middle aged, primary, incomplete secondary schooling and race are predictors of unemployment in Limpopo province in South Africa.

An investigation of personality on entrepreneurial success

Abstract: Various personality variables determine entrepreneurial intentions and ultimately entrepreneurial success. This paper investigated the influence of personality on entrepreneurial success. We examined the impact of gender, locus of control and risk-taking behaviour on the success of an entrepreneur. The participants in this study were thirty-five solo entrepreneurs located around Agbowo, University of Ibadan area, Ibadan, Oyo state, Nigeria. 34.3 percent were males and 65.7 percent were females aged between 21 and 60. Six hypotheses were tested using various statistical techniques including independent â??tâ?? test, analysis of variance and multiple regression. The results showed that risk-taking behaviour and locus of control had no significant interaction effect on entrepreneurial success. There was also no significant difference between risk-taking behaviour and entrepreneurial success. The findings showed that a significant difference existed between internal locus of control and entrepreneurial success. The study also showed that there was no significant difference in the entrepreneurial success based on gender differences. Finally, locus of control, risk-taking behaviour did not collectively predict or determine entrepreneurial success. On the basis of the findings, entrepreneurs are advised to take cognizance of their personality since it can go a long way to determine the success or failure of an enterprise.

Fraud as a negative catalyst in the Nigerian banking industry

Abstract: Fraud in the Nigerian Banking Industry before the recent merger and acquisition and recapitalisation efforts was at alarming rate. It has caused many banks to collapse, and many investors and depositors funds were trapped in. In fact it has prevented many banks from achieving their goals and many businesses went into liquidation. Honestly speaking it has become a cankerworm that has eating deep into the fabric of the financial sector of the Nigerian economy. That calls for the need for this study and the purpose of this study therefore is to identify the causes of fraud, measure itâ??s impact and identify means of controlling. The study is a survey research and questionnaire was used for the collection of primary data while libraries, journals, write-ups, seminar papers and books by popular authors were used for secondary data. The findings show that lack of adequate training, communication gap, and poor leadership skills were the greatest causes of fraud in Nigerian banking industry. It was concluded that adequate internal control system should be put in place and that workers satisfaction and comfort should be taking care off.

The determinants of urban unemployment crisis in Nigeria : an econometric analysis

Abstract: In Nigeria, since the early eighties, urban unemployment has assumed an alarming dimension and a crisis proportion with millions of able-bodied persons who are willing to accept jobs at the prevailing wage rates are unable to find placements. Thus urban unemployment has been regarded as one of the most challenging economic problems facing the Nigerian policy makers. This study however examined the determinants of the urban unemployment in Nigeria. The choice is to enable us identify the major factor responsible for the crisis. This study however made use of time series secondary data and parsimonious error correction mechanism to test the significant relationship between the level of unemployment and demand for labour, supply of labour, population, inflation, capacity utilization, gross capital formation and nominal wage rate . Empirical investigations showed that the rising nominal wages and the accelerated growth of population which affected the supply side through a high and rapid increase in labour force relative to the absorptive capacity of the economy appear to be the main determinant of high unemployment in Nigeria. The econometric results suggested the need for the government to embark on direct measures capable of creating jobs through industrialization and mechanization of agriculture. It also recommended that programmes of integrated rural development and re-orientation of economic activity and social investments towards the rural areas need to be embarked upon to create an appropriate rural-urban economic balance.

Achieving Competitive Advantage in Insurance Industry: The Impact of Marketing Innovation and Creativity

Abstract: In order to achieve new gains for its stakeholders and fulfill their needs and requirements, organisations must continuously search for the development of its product and services through marketing innovation and creativity. This will play a very important role in achieving competitive advantage especially in the insurance industry where competition is much stiffed, through the forces of change brought into the industry by recapitalization and consolidation. The study was carried out to find out whether marketing innovation and creativity has an impact on achieving competitive advantage in the insurance industry. The study shows that marketing innovation and creativity are crucial in organisational success. It also concluded that through marketing innovation and creativity, the insurance industry can improve their businesses and achieve a competitive advantage.

An appraisal of monetary policy and its effect on macro economic stabilization in Nigeria

Abstract: This study appraised monetary policy development in Nigeria and also examined the effect of monetary policy on macroeconomic variables in Nigeria for the period 1986 to 2009. The study adopted a simplified Ordinary Least Squared technique and also conducted the unit root and co-integration tests. The findings of the study showed that monetary policy have witnessed the implementation of various policy initiatives and has therefore experienced sustained improvement over the years. The result also shows that monetary policy had a significant effect on exchange rate and money supply while monetary policy was observed to have an insignificant influence on price instability. The implication of this finding is that monetary policy has had a significant influence in maintaining price stability within the Nigeria economy. The study concluded that for monetary policy to achieve its other macroeconomic objective such as economy growth; there is the need to reduce the excessive expenditure of the government and align fiscal policy along with monetary policy measure.

Effect of sales promotion as a tool on organizational performance : a case study of Sunshine Plastic company

Abstract: In spite of the numerals sales promotion techniques available to many organizations, it is important to note that many organizations have not yet appreciated how to effectively and efficiently utilize these sales promotion techniques in attempting to enhance their organization performance. The objective of this paper is to find out if sales promotion techniques to be adopted at a given time affect the companyâ??s sales volume and also to look at the effect of sales promotion on organizational performance. The method used is survey approach which gives room for primary data-questionnaire while the sampling technique adopted is simple random sampling techniques in which all members of the population has equal probability and independent chance of being selected. The chi-square method is used to test the hypothesis and to examine the effect of sales promotion on organizational performance. During the course of findings, majority of the respondents accepted the fact that sales promotion affects organizational performance and sales volume of the organization. In conclusion, effective implementation of sales promotional tools lead to increase in sales volume and invariably higher profits. It is recommended that during festive period, organizations should take full advantage by developing an effective and efficient sales promotion campaign that can arouse the consumers awareness, thereby leading to greater purchase of their products.

Financial development, foreign direct investment and economic growth in Nigeria

Abstract: The study examined effects of financial development and foreign direct investment on economic growth in Nigeria. The study modified the standard endogenous model to incorporate foreign direct investment and financial development as the determinant of growth in the long run. Using time series data from 1970 to 2009, the study tested for the time series properties of the variable and adopted the Autoregressive Distributed Lag (ARDL) technique to estimate the model. The results showed that financial development and foreign directinvestment had negative effects on economic growth in Nigeria. The result further showed that the effect of foreign direct investment differed significant when different measures of financial market are used. Specifically foreign direct investment was only significant when combined with stock market indices. The result also showed that financial market liquidity but not the size of the financial market that matter for economic growth in Nigeria.

Capital regulation and the performance of the Nigerian banks : need for review

Abstract: The banking sector in any economy serves as a catalyst for growth and development and is therefore so sensitive and sacrosanct to the economy in term of stability and growth that must not be let loose by the Government. It is not surprising in the light of this fact, that governments the world over attempt to evolve an efficient banking system, not only for the promotion of efficient intermediation, but also for the protection of depositors, encouragement of efficient competition, maintenance of public confidence in the system, stability of the system and protection against systemic risk and collapse. Economists differ on the level of government intervention in the economy, particularly on regulation imposed on the financial intermediaries. While some believe that many regulations are necessary in order to protect the depositorâ??s funds, other believes that the banks are over regulated. Therefore this paper seeks to explore various implications of capital regulation on the performance of the Nigeria banks with a view to proffer solutions to problems. The study adopts largely an exploratory methodology and submitted that though reforms of banks becomes necessary, there is a limit to which banks should be regulated on the issue of capital adequacy. The paper argued that consolidation arising from the recapitalization of banks brought about lots of problems that may mar the aim of the reform if not properly approached.

The use of box-cox transformation technique in economic and statistical analyses

Abstract: This paper provides an analytical review of the significant role of the Box-Cox transformation technique in a variety of statistical fields such as estimation, testing, inference and model selection. Although the Box-Cox transformation technique has been extensively studied during the past few decades, any analytical bibliography, particularly in the context of model selection, is yet to emerge. An attempt is made in this paper to bridge this gap.

The association between advertising and sales volume : a case study of Nigerian Bottling Company Plc

Abstract: Advertising is a form of communication that attempts to interpret the qualities of products, services and ideas in terms of consumer needs and wants. Some companies or organizations embrace advertising to achieve goodwill, high market share and sales. This research work is on the impact of advertising on sales volume with particular reference to Nigerian Bottling Company. The objective of the study is to examine the impact of advertising as a tool for growth in the companyâ??s sales, market share and profitability. It also seeks to study the nature of advertising as well as the relationship between advertising and sales. The statistical analytical techniques used for this study include student 't' test and ordinary least square regression method. The secondary data were collected from the company's annual financial records and account for eleven years covering 1999-2009. The major result showed that there is a significant relationship between advertising and the sales of the company. The study also showed that there is a significant improvement in the sales of the company as a result of advertising. It was recommended that organizations should educate the general public through advertising on the uses, functions and benefits of their products.

The challenges of the global economic crisis and Nigeria's financial markets' stability

Abstract: The global economic crisis, which erupted with the meltdown of the United States subprime mortgage market in 2007, has been described as the severest since the Great Depression. The crisis was subsequently spread from the United States to other economies, both in developed and developing countries. In the case of Nigeria, the emergent global crisis has impacted negatively on the nationâ??s financial sector, triggering instability in banks and the capital market. The banking sector is shaken particularly hard, causing the Central Bank to inject more than N400 billion naira or US$ 2.72 billion into vulnerable banks to forestall systemic collapse in the sector. In the capital market, equity prices, in the past couple of years, have fallen sharply, with the All-share Index at the Nigerian Stock Exchange down by 33 percent at the end of December 2009, from levels recorded in December, 2008. The instability in Nigeriaâ??s financial markets poses severe challenges to policy makers, requiring urgent measures to stem the tide. Therefore the objective of this paper is to elaborate the challenges of the global economic crisis and its effects on Nigeriaâ??s financial markets. The study shows that the nationâ??s financial markets are severely undermined by a combination of credit squeeze, loss of confidence and financial contagion that have paralyzed the banking system and capital markets. The paper consequently proffers policy measures hinged on deepening financial market regulation, economic reform and poverty reduction strategies.

An empirical investigation of the link betweenexchange rate volatility and trade in Nigeria

Abstract: This study investigates the impact of exchange rate volatility on trade flow in Nigeria. Using annual data for the period of 1970-2009, the study estimates the exchange rate volatility with the use of Generalized Autoregressive Conditional Heteroskedasticity (GARCH). Model testing procedure includes the coefficient of determination, the Durbin - Watson and the F - Statistics. Results revealed that an inverse and statistical insignificant relationship exist between aggregate trade and exchange rate volatility in Nigeria. The study therefore recommends that monetary authority should ensure transparency in the process for determining exchange rate such that various economic distortions associated with exchange rate might be minimized. With this in place, there will be free air for trade flows into Nigeria, which eventually will lead to the growth of the economy.

Analysis of information and communication technologies (ICT) usage on logistics activities of manufacturing companies in southwestern Nigeria

Abstract: The research aims to analyze the impact of ICT usage on logistics activities of manufacturing companies. The business environment today has been undergoing unprecedented change and many companies are seeking new ways to stand out from the competition by sustaining their competitive advantage. In today's highly competitive global marketplace, the pressure on organization's to find new ways to creating and delivering value to customers is growing stronger. ICT is today being applied in many organizations in a wide range and operations areas. One hundred manufacturing companies, basically medium/large companies formed the sample of the study based on random sampling technique. Apart from the descriptive statistics adopted, data analysis was done using SPSS to obtain the correlation coefficient of variables. The study revealed that there were strong relationships between ICT usage and Logistics activities, although managers recognize the importance and need of ICT adoption for building and enhancing their competitive advantage, adoption of their ICT tends to reduce operating costs more than improve service levels. The research recommends that Government should facilitate manufacturing companies' gainful participation in global value chains through policy initiatives in specific areas by promoting technological upgrading and facilitating of compliance procedures through adoption of process and products standards.

The power to choose : women and labour market decisions in Mauritius

Abstract: Using household survey data and logistic regression modelling for Mauritius from 2006 to 2008, we investigate the factors that encourage and also deter women from entering the labour market. Our findings corroborate with previous evidence for developing countries and indicate that the greater a womanâ??s educational level, the greater her participation; and that older woman participates more, though the rate of growth of this effect decreases. In addition, secondary education proves to be a significant determinant of female labour participation rate in Mauritius. Our results also reveal that married women are less likely to enter the labour force. In fact marital status is one of the most important factors averting them from work.

Organisational downsizing and its impact on leavers and survivors : the case of the Reserve Bank of Zimbabwe

Abstract: Organisational downsizing has considerable negative consequences not only for employees who leave the organisation, but also for those who remain. Organisational downsizing in Zimbabwe has been used by many organisations to improve organisational effectiveness and competitive ability. The purpose of the study was to examine the effects of downsizing on employees who were leaving (leavers) the Reserve Bank of Zimbabwe and on those who were remaining (survivors). In January 2011, 1455 employees who had served the organisation in various capacities were retrenched and 945 were retained as the bank sought to do away with quasi fiscal activities to concentrate on its core functions. A questionnaire was randomly among the survivors and leavers at the Reserve Bank of Zimbabwe. The impact of downsizing was looked at in terms of the attitudes and feelings that leavers and survivors had towards the downsizing process. It concludes by indicating the challenges and measures that top management should take into consideration when carrying out organisational downsizing.

Performance analysis of the strategic effect of age, size and sources of funds on micro enterprises in Nigeria

Abstract: The study focused on the analysis of the effect of age and size of enterprise and the sources of funds available to 480 micro-entrepreneurs randomly selected from the South Western States of Nigeria. The purpose of the research was to highlight the strategic importance of age and size of enterprise as well as the sources of funds available to them to their performances. Data were analysed using simple descriptive statistics that include pie and bar charts and multiple regression analysis. The equation specified performance as dependent variables and age, size and sources of funds as independent variables. It was found that the size and age of micro-enterprises have effect on their performance as the relationship were both positive and significant at (P < 0.05). This revealed that the older the enterprise, the better its performance and also as the size (number of employees) increases, the higher would be its performance. Furthermore, the sources of finance available to the microentrepreneurs impacted significantly on their performance. The micro-entrepreneurs surveyed were revealed to be performing very poorly because majority of the entrepreneurs had no access to external funds. The sources of their initial capital and business capital were their personal savings and contributions. The study therefore recommended that commercial banks should set up micro-credit desk through which they could extend credits to informal societies and groups for example; credits could be given to cooperative society for onward lending to micro-entrepreneurs. Also, for enhanced performance, the government should provide an enabling environment, as well as monitoring the MFBs that were primarily established for credit delivery to small enterprises for their development in Nigeria.

Factors influencing consumers adoption of point of sale terminals in Nigeria

Abstract: Following efforts at reducing excess cash flow in the economy necessitated the introduction point of sale terminal to the consumers by financial regulatory body in Nigeria; this study investigates the factors influencing the decision to adopt Point of sale terminals by consumers. Using probit model applied to primary data collected from 650 consumers, the study finds that factors such as nativity, security, ease of use, availability, convenience, intention to use, complexity of the technology are among the factors influencing the use of POS terminals. Efforts at improving the security of transactions, availability of the technology and convenience of use is recommended in order to drastically reduce excess cash flow especially in developing economies.

Socio-economic factors affecting under five mortality in South Africa - an investigative study

Abstract: The levels of infant and child mortality are the two sensitive and widely used indicators of socio-economic development. The child mortality rate is a refined and sensitive index of the total cultural milieu of a community or a country. It reflects among other things, the state of public health and hygiene, the environmental sanitation, cultural mores about feeding and clothing, socio-economic development, and above all, the people's attitude towards the dignity and value of human life itself. It is the simple statistical index which conveys the idea of whether environmental hazards, including contagious diseases, ebola, cholera, etc. are controlled effectively ornot in the less developed countries, especially in Africa. The under five mortality situation in South Africa has been investigated in this research using South African Demographic and Health Survey data. About ten socioeconomic, demographic, environmental and health-related variables were analyzed using categorical data modeling (catmod) analysis. On the basis of the analyses, the study concludes that education of both parents, marital status of the mother as well as her occupation, the loss of older children previously and the duration of breastfeeding, are the factors affecting under five mortality in South Africa.

Evaluation of the performance of national housing fund scheme towards housing delivery in Nigeria

Abstract: Housing which is considered as one of the three most important basic needs of mankind has not been adequate for the citizenry right from the independence in 1960 till date. Finance has been fingered as one of the predicaments towards its actualization because housing provision requires huge capital outlay. The study considered National Housing Fund scheme relative to the number of contributors and accessibility of the fund. Data were obtained from the Federal Mortgage Bank of Nigeria which is the apex bank for mortgage institutions. The study reveals that the Primary Mortgage Institutions are not adequate in number, there is wide difference between the amount the mortgagors actually applied for and the amount approved in the provision of housing and recommended that enabling environment must be created for existing PMIs and allow for emergence of new ones, reduction in the wide margin between amount applied for and approved so as to allow for full utilization of the contributors money.

Productivity and efficiency measurement techniques: Identifying the efficacy of techniques for financial Institutions in developing countries

Abstract: The concepts of productivity and efficiency have received a great deal of attention in many countries and organisations and by individuals in recent years. In any country, the growth of productivity and efficiency affects national income and inflation. In recent years, small financial institutions (SFIs) have become the most favoured option for poverty alleviation in developing countries. The efficiency of these institutions is highlighted in all aspect of stakeholders of these institutions recently, due to the collapse of several financial institutions. Many different approaches have been applied by many researchers to the measurement of productivity and efficiency changes in various types of institutions but there is no consensus of opinion on the best measurement method and many measurement obstacles remain. The aim of this paper is to review the literature dealing with concepts of productivity and efficiency and to review various techniques used in measurement techniques of these constructs directions are given for future research.