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"Nigeria Foreign economic relations South Africa."
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Nigeria-South Africa relations and regional hegemonic competence
This book examines the relations between Nigeria and South Africa and their implications for regional influence across the African continent. With the largest and third largest economies in the region and a historical status as the major peacemakers on the continent, it is often argued that Africa's fate is directly linked to the success or failure of these regional powers. While there is widespread reference to each state's capabilities and regional influence in the extant literature, little analysis is offered on relations between Nigeria and South Africa and their impact on regional governance and provision of public goods on the continent. This book attempts to fill the gap by engaging issues such as the hegemonic competence of the states, their credentials for a permanent seat at the UNSC, their efforts towards regional integration, and their efforts towards combating the dark side of globalization including climate change, drug trafficking and xenophobia. It also engages a gender perspective to these states' relations as well as their experiences of transitional justice. Providing an in-depth comparative analysis of the two so called African powerhouses, this volume will be of interest to policy-makers, academics and students interested in Nigeria and South Africa's foreign policy, regional powerhood, and the African peace, security, and development agenda.
Book
Africa and China
The China-Africa relationship has so far largely been depicted as one in which the Chinese state and Chinese entrepreneurs control the agenda, with Africans and their governments as passive actors exercising little or no agency. This volume examines the African side of the relation, to show how African state and non-state actors increasingly influence the China-Africa partnership and, in so doing, begin to shape their economic and political futures.
The influx of public and private sector Chinese actors across the African continent has led to a rise of opportunities and challenges, which the volume sets out to examine. With case studies from Nigeria, Angola, Kenya, South Africa, Ethiopia, and Zambia, and across the technology, natural resource, manufacturing, and financial sectors, it shows not only how African realities shape Chinese actions, but also how African governments and entrepreneurs are learning to leverage their competitive advantages and to negotiate the growing Chinese presence across the continent.
eBook
The Dynamics of Japan's Relations with Africa
This is the first book to examine in-depth Japan's relations with Africa. Japan's dependence on raw materials from South Africa made it impossible for Tokyo in the 1970s and 1980s to support other African states in their fight against the minority government and its policy of apartheid. Kweku Ampiah's detailed analysis of Japan's political, economic and diplomatic relations with sub-Saharan Africa from 1974 to the early 1990s makes it clear that Japan was lukewarm in the struggle against apartheid. Case studies of Tanzania and Nigeria dissect Japan's trade, aid and investment policies in sub-Saharan Africa more widely.
eBook
The New Security Order in East Africa: U.S. Foreign Policy, the Rise of Kenya, and Regional Security Challenges
Sub-Saharan Africa saw a major US security policy shift, which intends to uplift Kenya as a major non-NATO ally (MNNA), following a four-day state visit to the US by Kenyan President William Ruto starting on May 20, 2024, the first official state visit by an African leader since 2008. The benefits associated with MNNA status will give Kenya access to military and economic privileges such as sophisticated military equipment, technology transfer, training, and lending to enhance its national power. Here, Gemechu asks why the US chose Kenya from among potential candidates to engage in such cooperation and what political and security implications this engagement has. She argues that the decision to designate Kenya a MNNA is informed mainly by a realist foreign-policy consideration, which aims to advance the US' military and security interests in the region.
Journal Article
The Impact of Xenophobia on investments by Nigerians in South Africa
The rise in violent economic nationalism against foreign national interests in South Africa, particularly Nigerians and their investments poses some critical challenges to the liberal international economic system. This study investigates the impact of South Africa’s economic nationalism on Nigerians’ investments in South Africa. The study adopted the rational choice theory as the theoretical framework and mixed method of data gathering which relies on a documentary review, an unstructured interview and a focus group analysis involving Nigerians that were evacuated from South Africa. The findings revealed that violent economic nationalism among South Africans and the reprisal attacks in Nigeria have undermined Nigerians’ investment potentials and created a host of issues in their economic relations including low productivity, temporary unemployment of workers in the investment industries, reduction of foreign exchange earnings and stagnated trade activities between the two countries among others. The study concludes that notwithstanding the perennial eruptions of violent episodes of economic nationalism in South Africa, the two countries have demonstrated commitment to boosting and sustaining their trade relations. It notes the absence of synergy between South Africa’s demand for inclusive labour employment and Nigerians’ investment activities. The study recommends close coordination between governments and the enforcement of rule of law in both countries especially, laws to protect foreign investors and investments.
Journal Article
Monetary Policy Shocks and Unemployment in Emerging Market Economies in Africa
Unemployment remains a global challenge that requires additional ways of dealing with it. Therefore, the role of Reserve or Central Banks in reducing unemployment is of recent seeking more attention. This paper examines monetary policy shocks and unemployment nexus in the emerging market economies in Africa. The models of this study are designed within the panel vector autoregressive (PVAR) framework. The models majorly rely on the New Keynesian model. Given the nominal rigidities of the New Keynesian model, the monetary policy can therefore, serve as an important tool which can have a reasonable leverage on real variables. As claimed by Bernanke (2007) that the stance of monetary policy was appropriate to prevent deflation and high unemployment and as it has been empirically tested for developed economies, this paper provides a quantitative evaluation of an aspect of such statement in the context of emerging economies of Africa. We used annual data series on five emerging economies in Africa over the period 1991 to 2020, making 150 balanced panel data observations. The countries include, Egypt, Mauritius, Morocco, Nigeria and South Africa. The selection was based on those African countries identified as emerging markets by various international bodies such as the International Monetary Fund (IMF), James O'Neill, Financial Times Stock Exchange (FTSE), S&P Global Ratings, EM Bond Index, Dow Jones, Russell, Columbia University and Cornell University. The findings of the study revealed that unemployment falls for at most four periods in response to contractionary monetary policy shocks while the response dissipates afterwards. Individually, unemployment rate in Mauritius and Nigeria rose in response to contractionary monetary policy shocks while in South Africa, Egypt and Morocco, it falls in response to contractionary monetary policy shocks. By and large, the results seem to show credence to the effectiveness of monetary policy in each country to achieve desired macroeconomic targets. The main implication of the results is that, expansionary monetary and fiscal policy undertaken by policymakers of emerging economies in Africa can enhance the labor market to recover from the downturns recently experienced in these economies.
Journal Article
Review of Exogenous Economic Indicators Influencing Construction Industry
Research works into the effect of economic factors on the construction industry are enormous. But finding the core economic factors is limited in the Ghanaian construction industry. In an attempt to address this research gap, this study articulates the aim of identifying exogenous economic factors influencing the construction industry through a qualitative literature review. The study used secondary data collected from over 50 published journals, conference papers, and dissertations on exogenous factors. Fifty-nine exogenous factors were identified, and the most prevailing ones were GDP, exchange rate, inflation, interest rate, consumer price index, etc. It also revealed that black market is a factor affecting construction industry in Saudi Arabia. The study contributes to the literature by highlighting generic and specific exogenous factors that should be of concern to players in the construction industry including policy makers in their project planning. This will help to reduce the incidence of high failure rate of construction firms. Again, it establishes the need to further study the real impact of these exogenous factors as well as the strategies to mitigate the influence of exogenous factors on the construction industry as this study was limited to qualitative literature review.
Journal Article
Adventure into Nigeria’s foreign policy of reciprocity in Africa
The foreign policy option of reciprocity initially received condemnation by some students of Nigeria’s foreign policy, partly because they did not understand the rationale behind the concept; and probably because they could not realise that it was the basis of contemporary international politics and economic relations through retorsion or retaliation. By extension, little did they realise that it was the basis of Nigeria’s international relations from 1960 as it evident in the French atomic test in the Sahara, Africa as the centre of the country’s foreign policy, the 1979 nationalisation of British assets and countertrade strategy embarked on by different governments in Nigeria. Its official introduction, through Bolaji Akinyemi’s Doctrine, laid a foundation for future international relations. It was officially acknowledged during Yar’Adua/Jonathan administrations as a foreign policy of consequences, and subsequently received its acid test in relations with South Africa between 2012 and 2014. Pursuing this policy to a logical conclusion, hopefully, will enhance the prestige of the country and its citizens globally. It is equally envisaged to be a source of economic development in Nigeria.
Journal Article
Malaysia-Thailand Cross Border Trade and Cross Border Special Economic Zone Potential: A Case Study of Rantau PanjangSungai Kolok Cross Border Town
Towns along the Malaysia-Thailand border have always been associated with backwardness and being low-income regions. This is mainly because policy development in these border regions is based more on defence and security rather than economic considerations. Economic structures and cross-border trade towns of Sg. Kolok (Narathiwat, Southern Thailand) and Rantau Panjang (Kelantan, Malaysia) were examined with the objective to measure cross-border economic activity and the feasibility of establishing a Cross Border Special Economic Zone. Both towns are a shopping haven among local and foreign tourists, and have the potential to become a leading cross-border tourism product of the Malaysia-Thailand border. The Malaysian government has also implemented the Eastern Corridor Economic Region to develop the East Coast region including Kelantan. Meanwhile, the Thailand Government has carried out the Southern Border Provinces Special Zone to develop its Southern region, including Narathiwat. With the security assurance in Southern Thailand coupled with both development plans being implemented, this may intensify economic activities in the towns of Rantau Panjang and Sg. Kolok. It was revealed that this has a spill-over effect in the border areas and the potential of creating a Cross Border Special Economic Zone at these border towns.
Journal Article
Globalization and Marginalization of Africa: Contextualization of China-––Africa Relations
This article examines China-––Africa relations by contextualizing China's economic activities in Africa and interrogating the ramifications of the evolving relations for economic development in the region. China-––Africa relations need to be understood as the logical outcomes of the marginalization of Africa in the age of globalization. China is filling the vacuum in Africa created by Western disengagement from the region since the end of the cold war. That Africa is embracing China is informed by the former's appraisal of the consequences of its colonial experience and the realities of its postcolonial dependent relationships with the West. China-––Africa relations embody opportunities and threats. Africa needs to utilize the new architecture of cooperation to maximize benefits and minimize threats. Africa's economic interest and quest for development could be in conflict with those of China, yet Africa must determine how to leverage the deepening relationship with China to its own advantage.
Journal Article