African Journal of Business and Economic Development

Vol. 3 No. 11 (2023)
Articles

FINANCIAL DEEPENING AND AGRICULTURAL LABOUR PRODUCTIVITY IN ECOWAS: A THRESHOLD ANALYSIS

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  • Barnabas Olusegun Obasaju,
  • Uzoaku Ruth Obasaju,
  • Akanbi Saad Babatunde,
  • Damilola Felix Eluyela,
  • Ademola Andrew Onabote,
  • David Eseosa Obadiaru
Barnabas Olusegun Obasaju
Department of Economics, Landmark University, Omu-Aran, Nigeria. Landmark University SDG 1 (No Poverty Group)
Uzoaku Ruth Obasaju
Department of Economics, Kwara State University, Malete, Nigeria
Akanbi Saad Babatunde
Department of Economics, University of Ilorin, Ilorin, Nigeria
Damilola Felix Eluyela
Tasmanian School of Business and Economics, University of Tasmania, Tasmania, Australia
Ademola Andrew Onabote
Department of Economics, Landmark University, Omu-Aran, Nigeria. Landmark University SDG 8 (Decent Work and Economic Growth Group). Centre for Economic Policy and Development Research (CEPDeR), Covenant University, Ota, Nigeria.
David Eseosa Obadiaru
Landmark University SDG 8 (Decent Work and Economic Growth Group). Department of Accounting and Finance, Landmark University, Omu-Aran, Nigeria.

Published 2023-11-24

Keywords

  • Financial Deepening,
  • Agricultural Labour Productivity,
  • Hansen Threshold model,
  • Polynomial Model,
  • Feasible Generalised Least Square,
  • ECOWAS
    • ...More
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How to Cite

Barnabas Olusegun Obasaju, Uzoaku Ruth Obasaju, Akanbi Saad Babatunde, Damilola Felix Eluyela, Ademola Andrew Onabote, & David Eseosa Obadiaru. (2023). FINANCIAL DEEPENING AND AGRICULTURAL LABOUR PRODUCTIVITY IN ECOWAS: A THRESHOLD ANALYSIS. African Journal of Business and Economic Development, 3(11), 57-74. https://www.openjournals.ijaar.org/index.php/ajbed/article/view/292

Copyright (c) 2023 African Journal of Business and Economic Development

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How to Cite

Barnabas Olusegun Obasaju, Uzoaku Ruth Obasaju, Akanbi Saad Babatunde, Damilola Felix Eluyela, Ademola Andrew Onabote, & David Eseosa Obadiaru. (2023). FINANCIAL DEEPENING AND AGRICULTURAL LABOUR PRODUCTIVITY IN ECOWAS: A THRESHOLD ANALYSIS. African Journal of Business and Economic Development, 3(11), 57-74. https://www.openjournals.ijaar.org/index.php/ajbed/article/view/292

Abstract

This study examines the threshold effect of financial deepening on agricultural labour productivity using a panel of 15 Economic Community of West African States (ECOWAS). We adopt a battery of econometric models including the Hansen threshold model and a polynomial model within a Feasible Generalised Least Square (FGLS) setting. The results reveal that there exists no threshold effect of financial deepening on agricultural labour productivity. Results further show that financial deepening is not a significant driver of agricultural labour productivity in ECOWAS but life expectancy at birth and agricultural gross fixed capital formation per worker are significant drivers. This implies that financial depth is not a potent strategy in boosting agricultural labour productivity. As a result, paying attention to the significant determinants is rather recommended.

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