Folorunsho M. Ajide

RESEARCH, TEACHING, or OTHER INTERESTS

Economics, Econometrics and Finance, Business, Management and Accounting

Scopus Publications

What role does digitalization play in the entrepreneurship-sustainable development nexus in Africa?
Tolulope T. Osinubi, Folorunsho M. Ajide, and Munacinga Simatele
Elsevier BV



Economic complexity in Africa: the role of Chinese FDI and trade
Folorunsho M. Ajide, Tolulope T. Osinubi, Sodiq Abiodun Oladipupo, and Esther Omolade Soyode
Emerald
Purpose This study aims to examine the effect of Chinese foreign direct investment (FDI) and trade on economic complexity in Africa. Design/methodology/approach Panel data from 34 African countries between 2003 and 2022 are used. This study analyzes the data using a two-stage least square proposed by Lewbel (2012) and Driscoll and Kraay (1998) estimator based on robust standard errors and panel quantile regression via moments proposed by Machado and Silva (2019). Findings The results show that Chinese FDI and trade effectively upgrade economic complexity in Africa. Also, there is an inverted-U-shaped relationship between Chinese trade and economic complexity, thus revealing evidence of the trade Laffer curve. Originality/value Despite the intense debate on the Chinese-African economic relationship, to the best of the authors’ knowledge, no known study has examined the implications of Chinese FDI and trade on economic complexity in Africa. Therefore, this study fills this lacuna found in the literature and suggests that Chinese FDI and trade are veritable tools for technology diffusion and innovation, which are capable of upgrading economic complexity in Africa. However, the Chinese-African trade relationship should be complemented with sound trade policies for the sustainability of the beneficial effect of Chinese trade on economic complexity in Africa.


Analysis of Mobile Money Innovations and Energy Poverty in Africa
Folorunsho M. Ajide, Sodiq Abiodun Oladipupo, Babatunde Wasiu Dauda, and Esther Omolade Soyode
Wiley
ABSTRACTMobile money is a novel system for providing seamless financial services in developing countries. The use of this technology has allowed poor households to make payments, receive money, and get credits via mobile phone algorithms, and it has gained popularity among nations in Africa. This technology has leapfrogged the traditional services of formal financial institutions. Many studies have been conducted on energy poverty alleviation in Africa, but little is known empirically about whether mobile money can serve as a policy instrument for energy poverty alleviation in developing economies. Furthermore, the role of mobile money in energy justice has not been explored. The objective of this paper is to fill this gap by examining the effect of mobile money innovations on energy poverty. Applying the system generalized method of moments and panel quantile regression via moments on the dataset of 36 countries in Africa between 2012 and 2021, this study shows that mobile money innovations reduce energy poverty in Africa. Further analysis reveals that the effect is heterogeneous across the sample used in the study. Our findings also reveal that mobile money innovations reduce the disparities in accessing electricity between urban and rural households. Overall, this study suggests that mobile money is a veritable tool that can be used for energy poverty alleviation in developing countries.


Information communication and technology, and environmental degradation in Africa: a new approach via moments
James Temitope Dada, Taiwo Akinlo, Folorunsho M. Ajide, Mamdouh Abdulaziz Saleh Al-Faryan, and Mosab I. Tabash
Informa UK Limited



RELATIONSHIP BETWEEN VENTURE CAPITAL, FINANCIAL INNOVATION, AND OPERATING PERFORMANCE IN NIGERIAN FINTECH FIRMS
John Olayiwola, Folorunsho Ajide, and Jumoke Oyeyemi
Walter de Gruyter GmbH
Abstract Research Purpose. The research aimed to assess the interrelationships among venture capital funding, financial innovation, and operating performance within Nigerian fintech firms. It sought to investigate both the direct associations between these variables and the potential mediating role of financial innovation on the connection between venture capital funding and operating performance, with a focus on understanding their collective impact on the Nigerian fintech landscape. This is essential because the way business is done could be transformed by encouraging fintech innovations which will increase productivity and efficiency. Design / Methodology / Approach. To accomplish this, the study employed a primary data collection method via a questionnaire distributed to senior management personnel in two hundred FinTech companies. 220 senior management participants were purposively selected, and the gathered data underwent meticulous analysis using Partial Least Squares-Structural Equation Modeling (PLS-SEM) alongside various methodologies, including weighted mean scores, Heterotrait-Monotrait Ratio (HTMT), Fornell-Larcker square’s average variance extracted, Cronbach alpha, composite reliability (CR), and percentage variance. Findings. The findings revealed that the direct influence of venture capital funding on financial innovation yielded non-significant results (R2=0.220, β=0.274, t=1.116, p=0.264). Conversely, the direct impact of financial innovation (FI) on operating performance (OP) exhibited significant results (R2=0.401, β=0.559, t=5.989, p=0.000). Notably, the study discovered that venture capital funding (VC) was statistically insignificant (β=0.274, t=0.3913, p=0.362) in predicting the operating performance of fintech firms in Nigeria. Originality / Value / Practical Implications. The research established that financial innovation plays a pivotal role in augmenting the operating performance of fintech firms in Nigeria. This study addresses a gap in the literature by investigating the impact of venture capital funding and financial innovation on Nigerian fintech firms’ operational performance. It concludes that financial innovation significantly drives operational excellence, while venture capital funding has an insignificant impact, with financial innovation not substantially mediating its influence on performance. The findings underscore the significance of introducing innovative financial products and services, fostering the adoption of a cashless economy, harnessing emerging technologies such as blockchain and Artificial Intelligence, and enhancing financial literacy and awareness. These factors collectively contribute to bolstering the operating performance of fintech enterprises.


The moderating effect of economic complexity in the shadow economy-renewable energy transition nexus: evidence from African economies
James Temitope Dada, Folorunsho Monsur Ajide, Mamdouh Abdulaziz Saleh Al-Faryan, and Mosab I. Tabash
Springer Science and Business Media LLC



Energy poverty and shadow economy: evidence from Africa
Folorunsho M. Ajide and James Temitope Dada
Emerald
Purpose Energy poverty is a global phenomenon, but its prevalence is enormous in most African countries, with a potential impact on quality of life. This study aims to investigate the impact of energy poverty on the shadow economy. Design/methodology/approach The study uses panel data from 45 countries in Africa over a period of 1996–2018. Using panel cointegrating regression and panel vector auto-regression model in the generalized method of moments technique. Findings This study provides that energy poverty deepens the size of the shadow economy in Africa. It also documents that there is a bidirectional causality between shadow economy and energy poverty. Therefore, the two variables can predict each other. Practical implications The study suggests that lack of access to clean and modern energy services contributes to the depth of the shadow economy in Africa. African authorities are advised to strengthen rural and urban electrification initiatives by providing adequate energy infrastructure so as to reduce the level of energy poverty in the region. To ensure energy sustainability delivery, the study proposes that the creation of national and local capacities would be the most effective manner to guarantee energy accessibility and affordability. Also, priorities should be given to the local capital mobilization and energy subsidies for the energy poor. Energy literacy may also contribute to the sustainability and the usage of modern energy sources in Africa. Originality/value Previous studies reveal that income inequality contributes to the large size of shadow economy in developing economies. However, none of these studies analyzed the role of energy poverty and its implications for underground economic operations. Inadequate access to modern energy sources is likely to deepen the prevalence of informality in developing nations. Based on this, this study provides fresh evidence on the implications of energy deprivation on the shadow economy in Africa using a heterogeneous panel econometric framework. The study contributes to the literature by advocating that the provision of affordable modern energy sources for rural and urban settlements, and the creation of good energy infrastructure for the firms in the formal economy would not only improve the quality of life but also important to discourage underground economic operations in developing economies.


Economic Complexity and Shadow Economy in Africa




Environmental effect of Chinese FDI in Africa: Evidence from pooled mean group
Sodiq Abiodun Oladipupo and Folorunsho M. Ajide
Wiley
AbstractThe growth of the China‐African economic relationship has received much attention among the scholars. Africa and China have experienced cooperation in the areas of foreign direct investment, cross‐border trade, and foreign aids. While this economic relationship has been viewed to contribute to the development of African nations, some scholars are of the opinion that it is a new practice in imperialism. Surprisingly, none of these scholars has examined the environmental effect of Chinese foreign direct investment (CFDI) in African regions. On this note, this study investigates how Chinese foreign direct investment (CFDI) has altered environmental conditions in sub‐Saharan Africa (SSA). The study uses the pooled mean group panel estimation procedure to control for short‐run heterogeneity and long‐run homogeneity in the absence of cross‐sectional dependence for the period 2003–2020, focusing on 22 countries in the region that have seen a substantial increase in foreign investment from China. CFDI is shown to decrease CO2 emissions in the long term, lending credence to the pollution halo hypothesis. Furthermore, short‐term averages show that CFDI increases CO2 emissions, lending credence to the pollution haven hypothesis. However, the short‐term results showed substantial variation on how CFDI affects CO2 emissions. The research shows that short‐term CFDI is associated with reduction in CO2 emissions in Burundi and Rwanda but increases them in the Congo Republic, Gabon, and South Africa. Some policy suggestions based on the results are offered.


Benefit or burden? An exploratory analysis of the impact of anti-money laundering regulations on sustainable development in developing economies
Folorunsho M. Ajide and Titus Ayobami Ojeyinka
Wiley
AbstractOver the years, efforts have been put in place to address money laundering activities including financial crime and illicit funding controls. These efforts have been recognized to promote financial integrity and effective governance systems. They have been further adjudged by the United Nations' sustainable development (Goal‐16) with a major concern to achieve peaceful, just and inclusive development. Previous studies reveal that money laundering activities have major implications for economic growth. However, little is known about the main implications of anti‐money laundering (AML) regulations on sustainable development. On this note, this study contributes to the ongoing debate by investigating the relationship between AML regulations and sustainable development in 72 developing economies, consisting 29 upper middle income, 33 low middle income and 10 low income countries. Using instrumental variable generalized method of moment (IV‐GMM), panel quantile estimation technique and dynamic panel threshold analysis, the findings are as follows. First, AML regulations promote sustainable development. Second, the panel quantile regression reveals that countries with moderate AML regulations attain higher sustainable development than those with excessive regulations. Further results on regional analysis show that AML regulations are more effective in Latin America, South Asia, Europe & Central Asia and Middle East & North Africa than in Sub‐Saharan Africa and East Asia & Pacific. These results are robust and stable after conducting a number of robustness analyses. The study suggests that effective AML regulations should be moderate and well‐implemented to further improve economic, social and environmental sustainability in developing countries.


The interactive effects of financial inclusion and women political empowerment on health outcomes in Africa




The moderating role of financial development in energy poverty–sustainable environment linkages: evidence from Africa
James Temitope Dada, Folorunsho M. Ajide, and Mamdouh Abdulaziz Saleh Al-Faryan
Emerald
PurposeDriven by the Sustainable Development Goals (goals 7, 8, 12 and 13), this study investigates the moderating role of financial development in the link between energy poverty and a sustainable environment in African nations.Design/methodology/approachPanel cointegration analysis, fully modified least squares, Driscoll and Kraay least squares and method of moments quantile regression were used as estimation techniques to examine the link between financial development, energy poverty and sustainable environment for 28 African nations. Energy poverty is measured using two proxies-access to clean energy and access to electricity, while the environment is gauged using ecological footprint.FindingsThe regression outcomes show that access to clean energy and electricity negatively impacts the ecological footprint across all the quantiles; hence, energy poverty increases environmental degradation. Financial development positively influences environmental degradation in the region at the upper quantiles. Similarly, the interactive term of energy poverty and financial development has a significant positive impact on ecological footprint; thus, the financial sector adds to energy poverty and environmental degradation. The results of other variables hint that per capita income and institutions worsen environmental quality while urbanisation strengthens the environment.Originality/valueThis study offers fresh insights into the moderating effect of financial development in the link between energy poverty and sustainable environment in African countries.


Globalization and shadow economy: a panel analysis for Africa
Folorunsho M. Ajide and James T. Dada
Emerald
PurposeThe study's objective is to examine the relevance of globalization in affecting the size of the shadow economy in selected African nations.Design/methodology/approachTo do this, the authors employ the KOF globalization index and implement both static and dynamic common correlated mean group estimators on a panel of 24 African nations from 1995–2017. This technique accommodates the issue of cross-sectional dependence, sample bias and endogenous regressors. Panel threshold analysis is also conducted to establish the nonlinearity between globalization and the shadow economy. To examine the causality between the variables, the study employs Dumitrescu and Hurlin's panel causality test.FindingsThe results show that globalization reduces the size of the shadow economy. The results of the nonlinear analysis suggest a U-shaped relationship. Overall globalization has a threshold impact of 48.837%, economic globalization has 45.615% and political globalization has 66.661% while social globalization has a threshold value of 35.744%. The results of the panel causality show that there is a bidirectional causality between the two variables.Practical implicationsThe results suggest that the government and other relevant authorities need to introduce capital controls and other policy measures to moderate the degree of social, political and cultural diffusion. Appropriate policies should be formulated to monitor the extent of African economic openness to other continents to maximize the gains from globalization.Originality/valueApart from being the first study in the African region that evaluates the relevance of globalization in controlling the shadow economy, it also analyzes the dynamics and threshold analysis between the two variables using advanced panel econometrics which makes the study unique. The study suggests that globalization tools are useful for affecting the size of the shadow economy in Africa. This study provides fresh empirical evidence on the impact of globalization on the shadow economy in the case of Africa.


Business climate and environmental degradation: evidence from Africa
Folorunsho M. Ajide, Kenny Adedapo Soyemi, and Sodiq Abiodun Oladipupo
Springer Science and Business Media LLC



The Moderating Roles of Economic Complexity in the Entrepreneurship-Sustainable Environment Nexus for the Gulf Cooperation Council Economies
James Temitope Dada, Folorunsho Monsur Ajide, Marina Arnaut, and Mamdouh Abdulaziz Saleh Al‐Faryan
Wiley
ABSTRACTThere are conflicting views on the effect of business and entrepreneurial activities on environmental degradation in developing economies. However, none of this study examines whether economic complexity can serve as a policy tool for mitigating the effect of entrepreneurial business activities on a sustainable environment. Economic complexity consists of the structural and economic transformation process from a simple production system to a more complex and innovation‐based one. It predicts the variations in income level and its impact on the choice of goods being produced in an economy. This study examines the moderating effect of economic complexity on the link between entrepreneurship and sustainable environment in Gulf Cooperation Council (GCC) countries from 2006 to 2020. It further examines the validity of the Entrepreneurial Environmental Kuznets Curve (EEKC). The study uses the Driscoll‐Kraay standard error fixed effect, Panels Corrected Standard Errors (PCSE), method of moment quantile regression and Dumitrescu–Hurlin causality that are robust to heteroscedasticity, cross‐sectional dependency and other pitfalls of least square estimating technique. The results validate the inverted U‐shaped EEKC hypothesis across all the quantiles. Economic complexity increases ecological degradation at the lower quantile levels, while it decreases environmental footprint at the upper quantiles. Furthermore, economic complexity moderates the detrimental impact of entrepreneurial activity on the environment at the higher quantiles. A two‐way relationship is established between entrepreneurial activity and the environment, while one one‐way connection from economic complexity to the environment was found. The study recommends that policymakers should encourage innovative rather than necessity entrepreneurs. Entrepreneurs should be encouraged to engage in business activities that are friendly toward preserving the ecological environment, and green innovative activities should be prioritised in their entrepreneurial activities.


Shadow economy-income inequality nexus: a panel analysis of West African countries
Folorunsho M. Ajide, James Temitope Dada, Mamdouh Abdulaziz Saleh Al-Faryan, and Mosab I. Tabash
Informa UK Limited



Trade policy and environmental sustainability in Africa: An empirical analysis
James Temitope Dada, Folorunsho Monsur Ajide, Mamdouh Abdulaziz Saleh Al‐Faryan, and Mosab I. Tabash
Wiley
AbstractThis study investigates whether trade policy instruments—tariffs—strengthen or worsen African environmental sustainability. To drive out the objectives of the study, fully modified ordinary least square (FMOLS), dynamic OLS (DOLS), augmented mean group (AMG), method of moment quantile regression (MMQR) and Dumitrescu–Hurlin panel causality approaches are used to analyse the effect of tariff in addition to other control variables on carbon and ecological footprints as measured of environmental sustainability from 2001 to 2020. The results from the MMQR reveal that tariffs have a significant positive effect on carbon footprints in the 0.15 quantile, while the effect becomes insignificant between 0.25 and 0.5 quantiles. However, at the upper quantiles level (0.75–0.95), the impact of the tariff on carbon footprint is negative and significant, with increasing coefficients. Furthermore, tariffs significantly positively affect lower and middle quantiles' ecological footprints (0.15–0.5). However, the effect turns negative at the upper quantiles (0.9 and 0.95), suggesting that tariff reduces ecological footprint at these levels. In addition, the long‐run estimates (FMOLS, DOLS and AMG) also support the upper quantile estimates of MMQR. A one‐way causality between tariffs, carbon and ecological footprint was found. These findings reveal that tariffs do not create market inefficiency in Africa. This study recommends that tariffs as a trade policy instrument could be used to strengthen Africa's environmental quality. The government can use the tariff revenue to subsidize cleaner production and consumption and move the economy from a traditional energy source to renewable energy.


Upgrading economic complexity in Africa: the role of remittances and financial development
Folorunsho M. Ajide and Tolulope T. Osinubi
Inderscience Publishers



On the contributing factors to shadow economy in Africa: Do natural resources, ethnicity and religious diversity make any difference?
James Temitope Dada, Folorunsho Monsur Ajide, Marina Arnaut, and Mamdouh Abdulaziz Saleh Al-Faryan
Elsevier BV



Impact of Shadow Economy on Sustainable Development in Africa
Folorunsho M. Ajide, James T. Dada, Marina Arnaut, and Mamdouh Abdulaziz Saleh Al-Faryan
Informa UK Limited



THE MODERATING ROLE OF GOVERNANCE IN THE GLOBALISATION-LIFE EXPECTANCY NEXUS: IMPLICATIONS FOR SOCIOECONOMIC DEVELOPMENT
Tolulope Osinubi, Folorunsho Ajide, and Fisayo Fagbemi
Walter de Gruyter GmbH
Abstract Research Purpose: One of the most recent global aims is to increase life expectancy since healthy people are seen as human capital that may boost the economy. The study investigates the role of governance in the globalisation-life expectancy nexus using 39 African countries between 1996 and 2019. Design/Methodology/Approach: The study uses a Panel-Spatial Correlation Consistent augmented with the Least Square Dummy Variables (PSCC-LSDV) approach. The study uses a dynamic two-step system, the Generalised Method of Moments (GMM), as a robust model to solve the endogeneity problem. Findings The results from the PSCC-LSDV approach reveal that globalisation increases life expectancy in the selected African countries.The approach is more efficient since it can be used with cross-sectional dependent variables when other techniques like fixed and random effects methods may be ineffective. Likewise, the result from the GMM estimator is consistent with the PSCC-LSDV approach. The effect of globalisation on the life expectancy nexus without the inclusion of governance is positive. Meanwhile, the moderating (interactive) effect of governance on the relationship between globalisation and life expectancy is negative, indicating that globalisation and governance are substitutes for each other. This means that globalisation positively influences life expectancy, but the governance conditions in Africa weaken this positive effect. Originality/ Value/ Practical Implications Previous studies have shown that globalisation can have a negative, a positive or an insignificant effect on life expectancy in different countries. This discrepancy may arise from the use of different methods, different variables being measured, or different countries. None of these studies, to our knowledge, look at the moderating effect of governance on the globalisation-life expectancy nexus. Furthermore, unlike this study, most studies that look into the role of governance in the relationship between globalisation and life expectancy do not employ an aggregate index. The moderating role of governance from the two approaches confirms that governance interacts with globalisation to weaken the positive impact of globalisation on life expectancy. Put differently, the existence of poor governance in the African region drains the positive effect of globalisation on life expectancy in Africa. However, we expect life expectancy in African countries to improve in the face of good governance.


Business climate and global value chains: Insights from Africa
Folorunsho M. Ajide
Elsevier BV



Mobile money innovation and global value chain participation: Evidence from developing countries
Folorunsho M. Ajide, Rilwan Sakariyahu, Rodiat Lawal, Oyebola Fatima Etudaiye-Muhtar, and Sofia Johan
Elsevier BV



Does energy poverty moderate the impact of economic freedom on the quality of life in Africa? A panel quantile via moment approach
Sofia Johan, Rilwan Sakariyahu, Rodiat Lawal, Audrey Paterson, and Folorunsho M. Ajide
Elsevier BV



Institutions and Entrepreneurship in Africa: Does Democracy Matter?
Folorunsho M. Ajide
SAGE Publications
Previous studies on the relationship between institutions and entrepreneurship do not cover the relevance of democracy in strengthening the two variables. It is not clear whether democratic regimes promote entrepreneurship in Africa. This study contributes to the debate by examining the impact of democracy on entrepreneurship in Africa. It also provides fresh insights by analysing how democracy can strengthen the relationship between institutional quality and entrepreneurship. Panel data from 23 African nations over the period 2006–2018 is used for the study. The results based on the panel-spatial correlation consistent technique augmented with least square dummy variables (PSCC-LSDV) show that a democratic regime is more favourable for promoting entrepreneurship. Findings reveal that good institutions promote entrepreneurship, and democratic regimes strengthen the relationship. It is also found that democracy and institutional quality perform complementary roles in promoting entrepreneurship in Africa. The findings suggest that an African nation with a truly democratic system of government can encourage entrepreneurial activities within its economy by using the opportunity presented by democracy to strengthen its institutional quality.

RECENT SCHOLAR PUBLICATIONS

What role does digitalization play in the entrepreneurship-sustainable development nexus in Africa?
TT Osinubi, FM Ajide, M Simatele
Journal of Open Innovation: Technology, Market, and Complexity 11 (1), 100500 2025



Information communication and technology, and environmental degradation in Africa: a new approach via moments
JT Dada, T Akinlo, FM Ajide, MAS Al-Faryan, MI Tabash
Information Technology for Development, 1-27 2025



Economic complexity in Africa: the role of Chinese FDI and trade
FM Ajide, TT Osinubi, SA Oladipupo, EO Soyode
Journal of Chinese Economic and Foreign Trade Studies 18 (1), 86-108 2025



Analysis of Mobile Money Innovations and Energy Poverty in Africa
FM Ajide, SA Oladipupo, BW Dauda, EO Soyode
Natural Resources Forum 2025



The moderating effect of economic complexity in the shadow economy-renewable energy transition nexus: evidence from African economies
JT Dada, FM Ajide, MAS Al-Faryan, MI Tabash
Economic Change and Restructuring 57 (6), 180 2024



Energy poverty and shadow economy: evidence from Africa
FM Ajide, JT Dada
International Journal of Energy Sector Management 18 (6), 1982-2009 2024



Impact of shadow economy on sustainable development in Africa
FM Ajide, JT Dada, M Arnaut, M Abdulaziz Saleh Al-Faryan
International Journal of Public Administration 47 (12), 791-805 2024



Shadow economy-income inequality nexus: a panel analysis of West African countries
FM Ajide, JT Dada, MAS Al-Faryan, MI Tabash
Journal of Economic Policy Reform, 1-23 2024



Economic complexity and shadow economy in Africa
FM Ajide, JT Dada
Iranian Economic Review 28 (3), 788-813 2024



Environmental effect of Chinese FDI in Africa: Evidence from pooled mean group
SA Oladipupo, FM Ajide
Sustainable Development 32 (4), 3569-3580 2024



Benefit or burden? An exploratory analysis of the impact of anti‐money laundering regulations on sustainable development in developing economies
FM Ajide, TA Ojeyinka
Sustainable Development 32 (3), 2417-2434 2024



The moderating role of financial development in energy poverty–sustainable environment linkages: evidence from Africa
JT Dada, FM Ajide, MAS Al-Faryan
Management of Environmental Quality: An International Journal 35 (4), 924-944 2024



Trade policy and environmental sustainability in Africa: An empirical analysis
JT Dada, FM Ajide, MAS Al‐Faryan, MI Tabash
Natural Resources Forum 2024



Globalization and shadow economy: a panel analysis for Africa
FM Ajide, JT Dada
Review of Economics and Political Science 9 (2), 166-189 2024



Business climate and environmental degradation: evidence from Africa
FM Ajide, KA Soyemi, SA Oladipupo
Environment, Development and Sustainability 26 (2), 4753-4779 2024



Relationship Between Venture Capital, Financial Innovation, And Operating Performance In Nigerian Fintech Firms
J Olayiwola, F Ajide, J Oyeyemi
Economics and Culture 21 (2), 180-198 2024



The Moderating Roles of Economic Complexity in the Entrepreneurship‐Sustainable Environment Nexus for the Gulf Cooperation Council Economies
JT Dada, FM Ajide, M Arnaut, MAS Al‐Faryan
International Journal of Finance & Economics 2024



Linking institution to Economic Transformation: An Exploratory Analysis of the Impact of Corruption on Economic Complexity in Nigeria
TT Osinubi, FM Ajide, RA Ajisafe
Industrial Policy and Sustainable Development in Nigeria: Reflections and 2024



The Interactive Effects of Financial Inclusion and Women Political Empowerment on Health Outcomes in Africa
F Ajide, T Osinubi, T Ojeyinka, BV Kudaisi
The Role of Female Leaders in Achieving the Sustainable Development Goals 2024



Upgrading economic complexity in Africa: the role of remittances and financial development
FM Ajide, TT Osinubi
Global Business and Economics Review 30 (3), 359-382 2024

MOST CITED SCHOLAR PUBLICATIONS

Financial inclusion in Africa: does it promote entrepreneurship?
FM Ajide
Journal of Financial Economic Policy 12 (4), 687-706 2020
Citations: 147



The effects of corporate social responsibility activity disclosure on corporate profitability: Empirical evidence from Nigerian commercial banks
FM Ajide, AA Aderemi
IOSR Journal of Economics and Finance (IOSRJEF) 2 (6), 17-25 2014
Citations: 98



Financial innovation and sustainable development in selected countries in West Africa
FM Ajide
Journal of Entrepreneurship, Management and Innovation 12 (3), 85-112 2016
Citations: 80



Infrastructure and entrepreneurship: Evidence from Africa
FM Ajide
Journal of Developmental Entrepreneurship 25 (03), 2050015 2020
Citations: 62



On the shadow economy-environmental sustainability nexus in Africa: the (ir) relevance of financial development
JT Dada, FM Ajide, M Arnaut, A Adeiza
International Journal of Sustainable Development & World Ecology 30 (1), 6-20 2023
Citations: 61



Firm-specific, and institutional determinants of corporate investments in Nigeria
FM Ajide
Future Business Journal 3 (2), 107-118 2017
Citations: 59



Economic globalization, entrepreneurship, and inclusive growth in Africa
FM Ajide, TT Osinubi, JT Dada
Journal of Economic Integration 36 (4), 689-717 2021
Citations: 58



Shadow economy in Africa: how relevant is financial inclusion?
FM Ajide
Journal of Financial Regulation and Compliance 29 (3), 297-316 2021
Citations: 58



Shadow economy, institutions and environmental pollution: insights from Africa
JT Dada, FM Ajide, A Sharimakin
World Journal of Science, Technology and Sustainable Development 18 (2), 153-171 2021
Citations: 56



The moderating role of institutional quality in shadow economy–pollution nexus in Nigeria
JT Dada, FM Ajide
Management of Environmental Quality: An International Journal 32 (3), 506-523 2021
Citations: 54



The effects of earnings management on dividend policy in Nigeria: an empirical note
FM Ajide, AA Aderemi
Financial & Business Management 2 (3), 145-152 2014
Citations: 53



Informal economy and ecological footprint: the case of Africa
JT Dada, CO Olaniyi, FM Ajide, A Adeiza, M Arnaut
Environmental Science and Pollution Research 29 (49), 74756-74771 2022
Citations: 49



The impact of ICT on shadow economy in West Africa
FM Ajide, JT Dada
International Social Science Journal 72 (245), 749-767 2022
Citations: 42



Financial inclusion and rural poverty reduction: Evidence from Nigeria
F Ajide
International journal of management sciences and humanities 3 (2) 2015
Citations: 42



Foreign aid and entrepreneurship in Africa: the role of remittances and institutional quality
FM Ajide, TT Osinubi
Economic Change and Restructuring 55 (1), 193-224 2022
Citations: 39



Economic complexity and entrepreneurship: insights from Africa
FM Ajide
International Journal of Development Issues 21 (3), 367-388 2022
Citations: 37



Shadow economy and environmental pollution in West African countries: the role of institutions
JT Dada, FM Ajide, A Adeiza
Global Journal of Emerging Market Economies 14 (3), 366-389 2022
Citations: 36



Shadow economy and foreign direct investment in Nigerian manufacturing industry
FM Ajide, JT Dada, JK Olowookere
International Journal of Economics and Business Research 23 (2), 156-180 2022
Citations: 36



Entrepreneurship and productivity in Africa: the role of institutions
FM Ajide
Journal of Sustainable Finance & Investment 12 (1), 147-168 2022
Citations: 34



Remittances and corruption in Nigeria
FM Ajide, JA Olayiwola
Journal of Economics and Development 23 (1), 19-33 2021
Citations: 34