- Volume 11, Number 3 (2023)
ECONOMIC RESILIENCE: MAPPING THE LINKS BETWEEN MACROECONOMIC FACTORS AND POVERTY REDUCTION IN ASEAN
Budi Santoso Nugroho
Poverty remains a persistent challenge in the economies of the world, including the member states of the Association of Southeast Asian Nations (ASEAN). Since its inception in 1967, ASEAN has aspired to alleviate poverty as one of its core objectives in pursuit of prosperity and social progress. Despite significant efforts outlined in various ASEAN Blueprint Roadmaps, a substantial portion of the population in ASEAN member states continues to live below the poverty line, with an estimated 120 million individuals, nearly a quarter of the ASEAN population, struggling to survive on less than US$1.90 per day. Notably, Indonesia and the Philippines...
PROPERTY DYNAMICS: DISSECTING THE INFLATION-REAL ESTATE GROWTH NEXUS IN THE KENYAN CONTEXT
Tabitha Akinyi Omondi
The real estate industry, renowned for its flexibility and profitability, has experienced exponential growth in Kenya. It has significantly contributed to the country's GDP, increasing from 10.5% in 2000 to 13.8% in 2016. This remarkable expansion is attributed to stable GDP growth, rapid urbanization at 4.4% annually (compared to the world's 2.5%), and a population growth rate of 2.6% per annum. The surging middle-class population has intensified demand for housing, resulting in a national housing deficit of 200,000 units annually and a cumulative shortage of over 2 million units. Affordable housing, in particular, is in high demand, with 61% of...
THE PULSE OF PROGRESS: INVESTIGATING AFRICAN ECONOMIC DYNAMICS THROUGH GROWTH AND INCOME CONVERGENCE
Noura Ahmed Mansouri
Achieving convergence, particularly in terms of economic development, social progress, and institutional growth, has long been a central challenge within economic regions. Convergence serves as a vital precondition for discussions about establishing economic and monetary unions. However, research on national and regional income convergence in Africa remains limited, primarily due to data availability constraints. This paper fills this gap by shedding light on the convergence dynamics within African nations. We examine the interrelationships among various convergence measures commonly used in public economics literature to explore income distribution and convergence possibilities among African countries. Special attention is devoted to discerning differences...
MONETARY CURRENTS: UNRAVELING THE DYNAMICS OF INTEREST RATE TRANSMISSION IN THE NIGERIAN ECONOMY
Adeola Tunde Adeyemi
Interest rate pass-through, the responsiveness of retail bank lending and deposit rates to changes in the policy rate, plays a critical role in assessing the effectiveness of monetary policy. This study investigates interest rate pass-through in the context of Nigeria's evolving monetary policy framework, with a focus on the period following the introduction of the monetary policy rate (MPR) in December 2006. By exploring the relationship between the policy rate, interbank rate, and retail bank lending and deposit rates, we aim to provide insights into the extent and effectiveness of interest rate pass-through in Nigeria. Existing literature presents a varied...