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dc.contributor.authorUzoechina, Benedict Ikemefuna
dc.contributor.authorIbikunle, Joseph Afolabi
dc.contributor.authorOlasehinde-Williams, Godwin
dc.contributor.authorBekun, Festus Victor
dc.date.accessioned2023-08-11T16:28:52Z
dc.date.available2023-08-11T16:28:52Z
dc.date.issued2021en_US
dc.identifier.issn1026-4116
dc.identifier.issn2054-6246
dc.identifier.urihttps://hdl.handle.net/11363/5257
dc.description.abstractPurpose –The growth of both the informal sector and illicit financial outflows necessitated this study, in order to investigate how countries in Africa respond to these realities in terms of mobilization of domestic resources. These are the main motivation for the current study to the extant literature in conjunction with the adoption of employing second-generation econometric techniques which take into account cross-sectional dependence and country-specific heterogeneity. Design/methodology/approach – This study therefore examined the capacity of Africa to mobilize domestic resources amidst rising illicit financial outflows and informal sector size in selected African countries between 2000 and 2018. Second-generation econometric techniques such as cross-sectional dependence tests, slope homogeneity tests, Westerlund (2007) long-run co-integration tests, Eberhardt and Teal (2010) augmented mean group estimations and K onya (2006) panel causality testing were employed. Findings – Findings revealed the existence of cross-sectional dependence and slope homogeneity in the data series. Findings also supported the existence of depressing long-run impacts of IFOs and ISS on domestic savings. Causality test results were not uniform across variables among countries. Policy recommendations favour formalizing the largely informal African economies through budgetary policy adjustments and commitment to building stronger institutions. Practical implications – The fragility of the African countries economy and its macroeconomic indicators is suggestive for more policy construction. Originality/value – This economic reality about the nature of the informal sector is one that has negated the traditional view which holds that economic reforms would make the informal sector shrink as it transits to formal sector. Experiences from Latin America and Africa in fact indicate that the informal sector is actually on an expansionary path in the wake of adjustment and policy reforms. It is often called the unobserved, unorganized or unprotected economy. With this sector growing in size, the possibility of a reverse may not be in sight, owing to the increasing poverty levels and unemployment prevalent in most African countries. Uncertain foreign investment and aid inflows coupled with lower export revenues and high levels of indebtedness have created new impetus to examine the capacity of Africa’s fiscal policy regime to mobilise domestic resources for the development of the region. Surprisingly, the last decade witnessed continued rise in Africa’s illicit financial outflows amidst large informal sector size (ISS).en_US
dc.language.isoengen_US
dc.publisherEMERALD GROUP PUBLISHING LTD, HOWARD HOUSE, WAGON LANE, BINGLEY BD16 1WA, W YORKSHIRE, ENGLANDen_US
dc.relation.isversionof10.1108/JEAS-12-2020-0208en_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectIllicit financial outflowsen_US
dc.subjectInformal sectoren_US
dc.subjectDomestic savingsen_US
dc.titleIllicit financial outflows, informal sector size and domestic resource mobilization in selected African countriesen_US
dc.typearticleen_US
dc.relation.ispartofJournal of Economic and Administrative Sciencesen_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.authoridhttps://orcid.org/0000-0002-3710-6146en_US
dc.authoridhttps://orcid.org/0000-0003-4948-6905en_US
dc.identifier.startpage1en_US
dc.identifier.endpage23en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.institutionauthorBekun, Festus Victor


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