Dr Ejike Bob Udeogu
African Political Economy, Centre for the Study of States, Markets and People (STAMP)
My objective as a teacher is to motivate my students to develop their own learning interests and critical thinking. Collaborative learning is also central to my teaching philosophy in order to promote reflective thinking and improve the students’ communicative and trans-cultural skills.
I obtained my PhD in Economics in 2016 from the University of East London. My doctoral dissertation, conducted in consultation with Professor Vassilis Fouskas, used a Political Economy framework to situate the fundamental issues undermining development in Nigeria. The uniqueness of my research stems from its successful integration of both historical materialism and empirical methodology. My main finding was recently published by the Review of African Political Economy (ROAPE) journal. My general research interests are in the areas of Economic Development, Financialisation, Capital Accumulation and Applied Time Series Econometrics; with area expertise in Sub-Saharan Africa Economy. I currently teach Macroeconomics, Microeconomics, Econometrics, Bloomberg Essentials and Corporate Finance at both undergraduate and postgraduate levels. Before turning to academics, I worked as a Statistical Analyst in a public planning agency in Nigeria for over two years. I was primarily responsible for analysing and disseminating economic and social statistics of the state, assisting in research studies and the publication of the state’s statistical books and journals. I hold a bachelors degree in Mathematics and Economics and a Master's degree in Financial Management.
Title: Financialisation, Capital Accumulation and Economic Development: A theoretical and empirical investigation of the Nigerian Economy.
Abstract: The primary focus of this study was to highlight those unobtrusive, yet fundamental, factors undermining economic development in Nigeria. To begin with, it posits that the decelerating pace of capital accumulation in Nigeria, which naturally occasions rising unemployment and poverty levels, and widening inequality gap, is the result of the ‘low possibility’ of capitalist enterprises in the country of earning an adequate rate of profit from their productive processes. In turn, the ‘low possibility’ is argued to be the result of the uneven development inherent in the modern capitalist structure, the high cost of capital and of production peculiar to Nigeria, and the ineffective demand for goods made in Nigeria: these elements are viewed as been precipitated by the contradictions of the contemporary political-economic arrangement that organises the Social Structures of Accumulation. For Nigeria to ‘develop’, it is contended that the unobtrusive elements inherent in the contradiction of the political-economic economic that undermine the capitalists’ ability to earn a commensurate rate of profit in the country needs to be fully addressed first. Furthermore, this study suggests that it is crucial the country embraces knowledge-based industrialisation if it is to achieve some form of ‘competitive advantage’ in the global market, which could enable its productive processes extract a commensurate level of profit from the market. To facilitate the knowledge-based industrialisation, the state should, not only create a conducive environment for industrial development but also play the lead role in transforming the peripheral and oil dependent economy to a knowledge-based economy by coordinating business organisations and investing in high-risk innovations.
Keywords: Nigeria, capital accumulation, the rate of profit, financialisation, economic development and neoliberalism.
Dr Shampa Roy-Mukherjee
Professor of International Relations and Economics
Revisiting the financial deepening-growth debate; an empirical investigation of the Nigerian economy from 1961 to 2013
Udeogu, E.. 2015. INFER.
The rate of profit, Financialisation and Economic Growth: Evidence from Nigeria
Udeogu, E. 2014. Sheffield Political Economy Research Institute (SPERI).
Financialisation and Economic Growth in Nigeria
Udeogu, E. 2015. Review of African Political Economy. 1-15.
Financialisation, Capital Accumulation and Economic Development in Nigeria: A critical perspective
Udeogu E. 2018. Cambridge Scholars Publishers.
Macroeconomics, Microeconomics, Econometrics, Bloomberg Essentials and Corporate Finance