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Oluwaseyi Adedayo Adelowokan , Olukayode Emmanuel Maku , Awoyemi Olayiwola Babasanya , Adesola Bolaji Adesoye
2019; 35(1): 5-17; doi.org/10.22367/jem.2019.35.01

Aim/purpose – This study investigates the links between unemployment, poverty and economic growth in Nigeria between the periods, 1985-2015.
Design/methodology/approach – The paper employed the Augment Dickey Fuller test for unit root test, Johansen cointegration for cointegration, Ganger causality for causality test and Error Correction Model to establish the short-run links between the variables.
Findings – The unit root test result revealed that the variables trend with time indicating their failure of integration at level. However, they were found to be stationary at first difference. The causality result revealed that there is no causal relationship between unemployment, poverty and growth in Nigeria. Similarly, the cointegration results showed that there is no long-run relationship between unemployment, poverty and economic growth in Nigeria. The short-run parameter estimates indicated that unemployment has a negative and significant relationship with growth. However, the coefficient of the interaction between unemployment and poverty is positive and significant at the conventional level.
Research implication/limitations – This study suggest that the output growth in the country will occur even if there are poor people as defined in absolute terms. The economy will still expand even if the number of poor people increases. This is also the case in the short run, revealing that the economy has grown even though over the years, the numbers of poor people have increased. Thus, there is a need for stable macroeconomic policies that would ensure equal distribution of income so that the poor also benefits from the country’s growth.
Originality/value/contribution – This study empirically examines the contribution of output growth towards employment generation and poverty reduction using data sets from the Central Bank of Nigeria, National Bureau of Statistics and World Bank.

Keywords: poverty, unemployment, real output growth, Nigeria.
JEL Classification: E24, E64, F43, F63.

Mateusz Bąska , Helena Dudycz , Maciej Pondel
2019; 35(1): 18-39; doi.org/10.22367/jem.2019.35.02

Aim/purpose – Marketing is an important area of activity for the vast majority of enterprises. Many of them try using marketing data analysis. Both the literature and the practice of many enterprises describe the use of advanced data analysis. However, interpretations of this concept differ. The aim of this paper is to identify the interpretation of advanced data analysis in marketing, in support of decision-making processes applied in the retail trading sector.
Design/methodology/approach – The study was conducted using a systematic literature review, suggested by B. Kitchenham (2004), extended by C. Wohlin & R. Prikladniki (2013). This method was modified and expanded through the division of the whole study into two phases. Each phase is intended to facilitate obtaining answers to different important research questions. The first phase constitutes an exploratory study, whose results allow the detailed analysis of the literature in the second phase of the study.
Findings – The results of this study of the relevant literature indicate that scholarly publications do not use the phrase ‘advanced data analysis’, and its context is described with the term ‘data analysis’. Another term used broadly within the sphere of data analysis is ‘big data’. The concept of ‘data analysis’ in marketing is focused around the term ‘big data analytics’ and terms linked to the word ‘customer’, such as ‘customer-centric’, ‘customer engagement’, ‘customer experience’, ‘customer targeting service’, and ‘customers classification’. The study of the literature undertaken indicates that marketing employs data analysis in such areas as customer needs identification and market segmentation.
Research implications/limitations – The study of the literature review was carried out using selected four databases containing publications, i.e. Web of Science, IEEE, Springer and ACM for the period 2008 to 2018. The research described in the article can be continued in two ways. First, by analysing the literature presented in this paper on advanced data analysis in marketing using the method called snowball sampling. Sec-ondly, the results obtained from the first stage of the study can be used to conduct the study with other databases.
Originality/value/contribution – The main contribution of this work is the proposal of modifying the systematic literature review method, which was expanded through the introduction of two phases. This division of two stages is important for conducting stud-ies of literature when there are no clear, established definitions for the concepts being employed. The result of the study is also a set of ordered terms and their meanings that clearly define advanced data analysis in marketing.

Keywords: advanced data analysis, marketing, systematic review, big data analytics.
JEL Classification: D80, M31, Y9.

Israa Ali Mahmoud Ali , Hebatallah Ghoneim
2019; 35(1): 40-62; doi.org/10.22367/jem.2019.35.03

Aim/purpose – Studying the impact of microfinance on income inequality from a macro-economic perspective.
Design/methodology/approach – Cross-sectional regression analysis is used to measure the effect of microfinance on the Gini index in a sample of 30 developing countries from across Africa, Asia, Latin America, and Europe. A set of control variables are added to the model including: inflation, educational attainment, democracy, population growth, percentage of arable land to strengthen the model’s reliability.
Findings – Results indicate that neither a positive nor a negative impact of microfinance on Gini index could be significantly proved for the sample countries.
Research implications/limitations – Due to lack of data availability, research is conducted on a small sample of 30 countries. Therefore, to obtain more generalisable results, it is recommended for future research to use a larger sample.
Originality/value/contribution – Microfinance is becoming a focal issue in alleviating poverty and inequality, and this paper’s main contribution is that it explores this matter from a macro-economic perspective by looking at the holistic impact of microcredit on a sample of developing countries. Hence, the paper provides further investigation and suggestions for a better implementation of microfinance policies.

Keywords: developing countries, income inequality, microcredit, microfinance.
JEL Classification: D14, O16.

Abubakari S. Gwelo
2019; 35(1): 63-79; doi.org/10.22367/jem.2019.35.04

Aim/purpose – This paper aims at analysing the influence of the quality of services offered by higher learning institutions on student satisfaction.
Design/methodology/approach – Stratification sampling design was utilised to select a representative sample of 606 students from different schools/faculties of Mzumbe University in Tanzania. Data were collected using the closed questionnaire. The data were then processed and analysed through the prediction of categories of response variables of satisfaction against several explanatory variables using multinomial logistic regression model.
Findings – The results indicated that responsiveness, reliability, tangibility, assurance and empathy variables have significant influence on student satisfaction. The study concluded that improving services on these variables is bound to lead to maximisation of satisfaction which would result into increased students’ enrolment.
Research implications/limitations – The findings of the investigation reveal further that apart from competence and attitude of lectures, teaching facilities was another important criterion for satisfaction.
Originality/value/contribution – Understanding the quality of services offered by higher learning institution is imperative for the development of any institution. This paper serves as a bench mark in evaluating the quality of services as perceived by students.

Keywords: university, satisfaction, quality.
JEL Classification: H830, I23, I21.

Tomola M. Obamuyi, Saheed O. Olayiwola
2019; 35(1): 80-105; doi.org/10.22367/jem.2019.35.05

Aim/purpose – Theoretical arguments about the impact of corruption on economic growth have divided economists into two groups. The first one believes that corruption is an obstruction to economic growth and development while the second – that corruption plays a positive role in the development process. Therefore, the arguments on the effects of corruption on economic growth are inconclusive. This study investigates the effects of corruption on economic growth as measured in real Gross Domestic Product (GDP) per capita growth in Nigeria and India due to the pervasive corruption in the two low-income countries.
Design/methodology/approach – The study employed Mo’s framework (2001) for investigating corruption and growth mechanism. The data for the study which covered 1980-2015 was extracted from the World Bank data repository. Corruption was measured by the Corruption Perception Index. Other variables are population growth rate, trade openness, education and the output of agriculture, industry and service sectors. Correlation coefficients were used to show a correlation between corruption and GDP growth rate for both countries. Ordinary Least Square (OLS) regression was used to estimate the effects of corruption on economic growth.
Findings – The major findings of the study are: (1) Corruption has a stifling effect on economic growth when the measures of human capital, political instability and capital formation were not included in the estimation for India; (2) Corruption has a positive effect on economic growth when the measures of human capital, political instability and capital formation were included interchangeably and combined together in the estimation for India; (3) Corruption has a stifling effect on economic growth when the measures of human capital, political instability and capital formation were both included and excluded in the estimation for Nigeria; and (4) The transmission mechanism results show that corruption adversely affects economic growth through investment and human capital in both countries.
Research implications/limitations – The implications of this study are that corruption produces a dampening effect on growth in both countries and the transmission channels were through investment and human capital. The limitation of the study has to do with the data. A better measure of corruption aside corruption perception index may produce different results.
Originality/value/contribution – The unique contribution of the study is the investigation of the channel through which corruption affects economic growth in India and Nigeria.

Keywords: corruption, economic growth, human capital, investment.
JEL Classification: O40, O43, O47.

Saheed O. Olayiwola , Bayo L.O. Kazeem
2019; 35(1): 106-123; doi.org/10.22367/jem.2019.35.06

Aim/purpose – Estimation of the model of interdependent demand for health insurance and health care utilisation involves issues of stochastic dependence between health insurance and health care utilisation. This study explored a count data estimation technique to determine the most appropriate estimation method for the interdependence of health insurance and health care demand in Nigeria.
Design/methodology/approach – The study employed Hidayat and Pokhrel (2010) framework to choose among the six alternatives of two classes of count data model. The data for the study were collected using a purposive sampling survey in the six geopolitical zones in Nigeria.
Findings – The results showed that the general method of moments (GMM) estimator is preferable to model the determinants of medical care consumption with health insurance. Price of health care services is positively related to medical care consumption with health insurance and social health insurance. The income-medical care relationship indicated that medical care services are inferior good under private health insurance and a normal good with social health insurance during sick period.
Research implications/limitations – The implication of this study is that the estimation method that accommodates endogenous regressors is the appropriate estimation technique for the interdependence of health insurance and health care utilisation. The limitation of this study is that the recall period was just six months prior to the survey.
Originality/value/contribution – The study revealed that the estimation techniques for the interdependence of health insurance and health care utilisation must recognised the influence of individual and household characteristics on the decision to purchase health insurance and health care consumption. Hence, diagnostics tests are require to choose the most appropriate estimation technique.

Keywords: health insurance, health care utilisation, count data model.
JEL Classification: I130.

Yomna M. Sameer , Ahmed Amin Mohamed , Mohamad Saad Mohamad
2019; 35(1): 124-149; doi.org/10.22367/jem.2019.35.07

Aim/purpose – Though psychological capital has become a hot topic in the recent years, scholars have given little attention to its antecedents. This study used the job characteristics model (Hackman & Oldham, 1975) as a framework to examine the relationship between the five job characteristics and the four components of psychological capital. Moreover, task performance is examined as an outcome of psychological capital.
Design/methodology/approach – Using structural equation modelling, data were ob-tained from Egyptian professionals (N = 251). The survey included measures of psycho-logical capital and job characteristics as well as task performance, which was rated by employees’ supervisors.
Findings – Results indicate that the five job characteristics of skill variety, task signifi-cance, job feedback, job identity and job autonomy are positively related to the four components of psychological capital. Moreover, hope, self-efficacy and resilience were positively related to task performance. However, Egyptian employees’ optimism was not found to be related to task performance.
Research implications/limitations – Results contribute to a better understanding of what enhances psychological capital in the workplace.
Originality/value/contribution – The current study is the first to integrate the theory of work design with the psychological capacities of hope, optimism, resilience and self-efficacy. Research on the development of psychological capital has been limited to interventions with little or no attention given to macro or organisational factors that could contribute to its enhancement. Moreover, it is the first to link psychological capital to job performance in an Arab country.

Keywords: psychological capital, job characteristics, task performance.
JEL Classification: M1, M10, M12, M20.

Ashim Babatunde Sogunro, Ismaila Adedeji Adeleke, Richard Olusegun Ayorinde
2019; 35(1): 150-171; doi.org/10.22367/jem.2019.35.08

Aim/purpose – The main objectives of this article are to estimate percentage of pre-retirement savings that is needed, based on the current salary scale, to sustain academic and non-academic staff of Federal Universities in Nigeria in retirement using University of Lagos as a case study.
Design/methodology/approach – The methodology of the article was designed by modifying the life-cycle model of household behaviour combine with the target replacement ratio benchmarks for different income levels as used by Pension Commission 2004, expressed in 2013 earning terms.
Findings – The research findings show that the lowest income earner with entry age of 25 years and retirement age of 65 years should, without any interruption throughout the service years, contribute a minimum of pre-retirement savings of 28.01% on an annual basis from his or her emolument to maintain the pre-retirement standard of living once he/she has ceased working.
Research implications/limitations – The scope of this research study is subjected to some limitations: (1) scarcity of pension financial data in Nigeria; (2) the academic and non-academic staff of Federal Universities in Nigerian using University of Lagos as a case study.
Originality/value/contribution – The study has established the minimum contribution rate into the Retirement Savings Account so as to meet the internationally acceptable replacement ratio for employees of the Nigerian Federal Universities.

Keywords: adequacy, replacement rates, actuarial assumptions, salary-scale and consumption smoothing.
JEL Classification: B26, C51, D15, D31, E12.