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Sequencing Capital Account Liberalisation, Bright Okogu, Philip Osafo-Kwaako Dec 2006

Sequencing Capital Account Liberalisation, Bright Okogu, Philip Osafo-Kwaako

Economic and Financial Review

This paper focuses on the case of Nigeria and examines whether following the successful implementation of the recent reform program, appropriate policies are now in place for effective capital account liberalization.


Capital Account Liberalization: What Options For Developing Economies, Biodun Adedipe Dec 2006

Capital Account Liberalization: What Options For Developing Economies, Biodun Adedipe

Economic and Financial Review

This paper deals with some basic facts about Capital Account Liberalization, Liberalization Experiences, problems and prospects, policy options and recommendations.


Capital Account Liberalization: Experience From The Emerging Market Economies, Mike I. Obadan Dec 2006

Capital Account Liberalization: Experience From The Emerging Market Economies, Mike I. Obadan

Economic and Financial Review

The liberalization of the capital account of the balance of payments is rooted in economic theory and is said, can help to bridge savings and foreign exchange gaps in national economics thereby promoting national growth. In the light of the foregoing, this paper explores the experiences of the developing countries in particular, the emerging market economies, in capital account liberalization.


Capital Account Liberalization In Nigeria: Problems And Prospects, Ayodele F. Odusola Dec 2006

Capital Account Liberalization In Nigeria: Problems And Prospects, Ayodele F. Odusola

Economic and Financial Review

Capital Account is one of the lynchpins of globalization and it is often seen as an inevitable path to economic development for developing countries. This is based on the premise that liberalizing capital account would permit financial resources to flow from capital abundant countries to capital scarce countries. This paper examines the problems, prospects and challenges of foreign private capital flows in Nigeria.


Capital Account Liberalization: The Ecowas Experience, M.O. Ojo Dec 2006

Capital Account Liberalization: The Ecowas Experience, M.O. Ojo

Economic and Financial Review

Capital account liberalization can enhance economic growth and development through access to foreign savings for domestic investment, improvement in the efficiency of resources allocation for greater competitiveness in the global economy. The paper focuses on the status of Capital account liberalization in the ECOWAS region and the policy measures that could be adopted.


Capital Account Liberalization: The Way Forward For Nigeria, Sam Omoruyi Dec 2006

Capital Account Liberalization: The Way Forward For Nigeria, Sam Omoruyi

Economic and Financial Review

Capital account liberalization is a complex and multifaceted issue, which if not properly addressed could increase the risks of a crisis in a country with serious negative consequences for the real sector. The purpose of this paper is to dwell in some detail on capital account liberalization, emphasizing the preconditions for tits safe implementation, the degree and sequencing of implementation, effects of capital account liberalization, noting costs and the way forward to its effective administration in Nigeria.


Welcome Address At The 2006 Executive Seminar "Capital Account Liberalization: Issues, Problems, And Prospect", E.O. Alilonu Dec 2006

Welcome Address At The 2006 Executive Seminar "Capital Account Liberalization: Issues, Problems, And Prospect", E.O. Alilonu

Economic and Financial Review

The welcome address was given by the then Branch Controller, Calabar Branch of the Central Bank of Nigeria at the 2006 Executive Seminar.


Globalization And Capital Account Liberalization, Ademola T. Oyejide Dec 2006

Globalization And Capital Account Liberalization, Ademola T. Oyejide

Economic and Financial Review

This paper reviews some aspects of the debate on the linkages between globalization and capital account liberalization. This paper analyses globalization and the associated capital flows and then discusses the impact of the capital flows on the financial and real sectors of the economy.


Keynote Address At The Cbn Executive Seminar On "Capital Account Liberalization: Issues, Problems, And Prospect", Obadiah Mailafia Dec 2006

Keynote Address At The Cbn Executive Seminar On "Capital Account Liberalization: Issues, Problems, And Prospect", Obadiah Mailafia

Economic and Financial Review

The keynote address was given by the Deputy Governor, (Economic Policy), Central Bank of Nigeria. He highlighted the aptness of the theme for the seminar in view of the developments in the global economy and the policy reforms embedded in the National Economic Empowerment and Development Strategy (NEEDS) and the Millennium Development Goals (MDGs).


Capital Account Liberalization: Reflections On Theory And Policy, Obadiah Mailafia Dec 2006

Capital Account Liberalization: Reflections On Theory And Policy, Obadiah Mailafia

Economic and Financial Review

Developing countries as well as other member countries of the IMF have been encouraged to open up to foreign capital flows through the liberalization of their capital account transactions. Capital account liberalization is embedded in international standards and codes as best practice necessary for developing countries engaging in inter-governmental and non-governmental international relations. It also represents the systemic removal of administrative and legal controls on international capital transactions.


Evidence Of Competition Between Law Schools, Naushaba Zaman Dec 2006

Evidence Of Competition Between Law Schools, Naushaba Zaman

Economics Theses

The purpose of this paper is to measure how competition affects tuition rates of law schools. I hypothesize that the tuition rates will go up as concentration of law schools increase. To examine how tuition varies with competition, I need to measure market structure. A variety of measures are available, such as C4, C8, and HHI; all of which have some relationship to the degree of competitiveness in an industry. I primarily use HHI as the concentration measure in this paper. I make two models for my thesis. In my first model I use a statewide measure of competition, assuming …


School Responses To High-Stakes Testing, Mishuk Anwar Chowdhury Dec 2006

School Responses To High-Stakes Testing, Mishuk Anwar Chowdhury

Economics Theses

This paper analyzes school's responses to high stakes testing. Using a grade level panel dataset from Texas Assessment of Knowledge and Skills (TAKS) for reading and math tests for 2003 through 2006, to find schools responses to failure. I find that there is a tendency for schools to shift resources from subjects that they pass to subjects that they fail. I classify schools' responses as either substitution responses or scale responses. A school has a substitution response if, when it fails to meet the state's required passing rate threshold for one subject for one cohort of students, it shifts resources …


Economic Growth And Human Capital Development: The Case Study Of Nigeria, Moses F. Otu, Adeniyi O. Adenuga Sep 2006

Economic Growth And Human Capital Development: The Case Study Of Nigeria, Moses F. Otu, Adeniyi O. Adenuga

Economic and Financial Review

The paper examines empirically the relationship between economic growth and human capital development using Nigeria data. Microeconomics variables such as Growth of real gross domestic products (RGDPG), capital expenditure (CE) on education. recurrent expenditure on education (RE), real gross capital formation (RGCF) was used to proxy physical formation, enrolment into primary (PRYE), post-primary (PPE) and tertiary (TERE) educational institutional were used to proxy human capital development. It found that investment in human capital, through the availability of infrastructure requirements in the education sector accelerates economics growth.


Risk-Based Capital Standard For Banks: A Critique, N. Arua Sep 2006

Risk-Based Capital Standard For Banks: A Critique, N. Arua

Economic and Financial Review

This paper presents a critique of the form of the risk- based capital standard known as Basel I & II. It examines the likely implication of the Based II capital accord for the Nigerian banking system and advises that the CBN should consider carefully the cost of implication of the new Accord before developing a timetable for its implementation.


Towards Developing A Vibrant Bonds Market In Nigeria: A Review, Salam N. Gbadebo Sep 2006

Towards Developing A Vibrant Bonds Market In Nigeria: A Review, Salam N. Gbadebo

Economic and Financial Review

The paper highlights two major challenges in bond market which reflects in Nigeria. The author suggests methods and proposal that will enhance a better performance derivatives in long time. The article seek to established the narrative on two argument that, bond finance is less expansionary than money finance and that the expansion is sometime undesirable. While the Microeconomics argument posited that bonds are issued for different reasons. the findings revealed that corporate borrowers use debt market to obtain working capital and new equipment.


Foreign Direct Investment And Technology Transfer To Nigerian Manufacturing Firms: Evidence From Empirical Data., Nasiru Musa Yauri Jun 2006

Foreign Direct Investment And Technology Transfer To Nigerian Manufacturing Firms: Evidence From Empirical Data., Nasiru Musa Yauri

Economic and Financial Review

The paper investigates the vertical effects of FDI on Nigeria manufacturing firms. Specifically, the paper asks, do Nigerian manufacturing firms benefits from FDI? As an investigation into the vertical effects of FDI , the paper attempts to establish whether manufacturing firms in Nigeria that receives FDI benefit from technology flows which comes along with foreign capital. The paper employs data from the World Bank Nigerian manufacturing survey, 2001.


Determinants Of Workers' Remittances: The Case Of Turkey: A Review., Magnus O. Abeng Jun 2006

Determinants Of Workers' Remittances: The Case Of Turkey: A Review., Magnus O. Abeng

Economic and Financial Review

The paper is focused on the determinants of workers remittances using Turkey as a case study.


Are Immigrants Remittance Flows A Source Of Capital For Development?: A Review, Phebian N. Omanukwue Jun 2006

Are Immigrants Remittance Flows A Source Of Capital For Development?: A Review, Phebian N. Omanukwue

Economic and Financial Review

The paper seeks to develop a remittance model that would indicate if immigrant remittances were a source of capital flows for development.


Empirical Analysis Of Cost And Returns To Commercial Table Egg Production In Lagos State., G. O. Evbuomwan Jun 2006

Empirical Analysis Of Cost And Returns To Commercial Table Egg Production In Lagos State., G. O. Evbuomwan

Economic and Financial Review

The paper seek to establish that commercial table egg production in Lagos State is profitable. This was based on the fact that there was an increase in the per capita income of the populace and also increase in the awareness of the health implication of intake of protein from eggs.


Tax Assignment And Revenue Sharing In Nigeria: Challenges And Options, S. C. Rapu Mar 2006

Tax Assignment And Revenue Sharing In Nigeria: Challenges And Options, S. C. Rapu

Economic and Financial Review

This paper build on the history as well as the current legal framework of tax assignment and revenue-sharing in Nigeria to identify the challenges while also drawing from the theoretical framework for policy options which will provide for a stable federal system in Nigeria. The paper recommended among others the strengthening of states internal revenue bases, adjustments on the vertical and horizontal revenue-sharing formula, effective compliance with the allocation of the mandatory 10% of states internally generated revenue. The paper concludes that changes to the existing tax assignment and revenue-sharing arrangements will go a long way in protecting our nascent …


Matters Arising From The Introduction Of The Defined Contributory Pension Scheme In Nigeria: A Policy Proposal, J.S. Akuns Mar 2006

Matters Arising From The Introduction Of The Defined Contributory Pension Scheme In Nigeria: A Policy Proposal, J.S. Akuns

Economic and Financial Review

In line with global trends in pension reforms as well as stark domestic realities, Nigeria introduced the operation of the DC pension scheme on 1st July 2004. In this regard, the main thrust of the paper is to examine some salient features of the defined contributory pension scheme and their welfare implications to retirees. An overview of the defined contributory pension scheme is carried out in section 2, while country-specific experiences with the defined contributory pension scheme is reviewed in section 3. Issues of public policy on the defined contributory pension scheme are explored in section 4. Finally, section 5 …


Perspectives On The European Monetary Union: Lessons For The Economic Community Of West African States (Ecowas), J. E. Sagbamah L. Mar 2006

Perspectives On The European Monetary Union: Lessons For The Economic Community Of West African States (Ecowas), J. E. Sagbamah L.

Economic and Financial Review

The attainment of the European Monetary Union (EMU) under the auspices of the European Union (EU) was a product of effective planning and sequencing of programmes. The establishment of political institutions such as the European Council, Assembly, Court of Justice and, particularly, the European Commission provided the general framework and direction for the achievement of the EMU. In addition, specialized institutions such as the Sectoral Commissions, European Monetary Institute (which was later transformed into the European Central Bank) and the European System of Central Banks provided technical support for driving the EMU project. These institutions nurtured and fostered the political, …


Broad Money Demand And Financial Liberalization In South Africa: A Review, Abdurrahman Abdullahi Mar 2006

Broad Money Demand And Financial Liberalization In South Africa: A Review, Abdurrahman Abdullahi

Economic and Financial Review

The paper, therefore, tried to study the stability of money demand using different estimation procedures under a financially liberalized economy (South Africa). This was done by developing a fixed-coefficient error-correction model for broad money demand function for the period 1971 to 2000, after which quarterly forecasts were generated for 2001 and 2002, using a varying-parameter regression model.


Superfund, Hedonics, And The Scales Of Environmental Justice, Douglas S. Noonan, Brett M. Baden, Rama Mohana Turaga Dec 2005

Superfund, Hedonics, And The Scales Of Environmental Justice, Douglas S. Noonan, Brett M. Baden, Rama Mohana Turaga

Douglas S. Noonan

The environmental justice (EJ) movement now occupies a prominent position in environmental policy. EJ is a core principle for thousands of grassroots environmental organizations, is the subject of a Presidential executive order and an office in the EPA, and recently served to frame how the nation viewed the tragic aftermath of Hurricane Katrina. This paper contributes to the research on environmental equity by (a) improving on traditional environmental justice research by incorporating results from economic analyses, and (b) presenting new evidence on the distributional equity of Superfund site locations at multiple scales. Choosing the correct spatial scale for analysis continues …