DOI: 10.3897/brics-econ.5.e126783

Authors: Lukmon Oderinde, Gbenga Sanusi, Ojo Adelakun, Matthew Agbawn

Abstract: There is a wide consensus about the role of economic policy in attaining macroeconomic goals of high employment, price stability, and rapid economic growth. It is not clear, however, to what extent the monetary instruments can contribute to the development of self-owned enterprises. Monetary policy is one of the major policy tools for promoting business and investment once it is geared towards reducing unemployment. This study aims to assess the effect of monetary policy on self-owned enterprises in a developing economy, such as Nigeria. Based on the modern monetary theory which offers an alternative way of reaching full employment and price stability, the authors employ Toda-Yamamato-Dolado-Lutkepohl causality test to carry out an empirical analysis of the quarterly data for the period between 1991 and 2022. The effects of changes in the broad money and lending rates are similar. A unit broad money-related shock leads to little or no change in self-employment and there is a quick convergence to equilibrium. The paper provides robust empirical evidence revealing the effects of the two key monetary policy variables on self-owned business in a developing economy. For policy purposes it is important to point out that monetary policy does not directly affect self-owned businesses in Nigeria. It is concluded that monetary policy will be more effective in promoting self-owned businesses if there are special funds and lending rates for the small-scale businesses.

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DOI: 10.3897/brics-econ.3.e91318

Authors: Liu Boyu, Olga Efimova, Maksim Vasiev, Wang Qian

Abstract: The impact of climate change and COVID-19 pandemic on the global economy is indeed powerful; this determines particular relevance of low-carbon economy and environment-oriented development, drawing considerable public attention to these issues. China and Russia as the two largest neighboring countries have a centuries-old history of relationship and fruitful cooperation. Transport industry plays an essential role in promoting trade and economic development between the two countries and its expansion may also contribute to achieving sustainable development and carbon neutrality goals. This paper aims to assess the prospects of cooperation between China and Russia in transport policy with regard to the environmental component through the study of the environment-oriented processes using the transregional theory, and Kuznetsov’ transregional model of interaction between Russia and China in the transport sector. The results of the present research show that China and Russia can be expected to further strengthen their cooperation in the field of transport infrastructure building and renovating roads railways, ports, and border crossings to expand traffic capacity and improve efficiency — all this with a focus on new green technologies.

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