Open Access. Powered by Scholars. Published by Universities.®

Digital Commons Network

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 26 of 26

Full-Text Articles in Entire DC Network

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.


Special Remark At The 2006 Executive Seminar On "Capital Account Liberalization: Issues, Problems, And Prospect", Charles N. Mordi Dec 2006

Special Remark At The 2006 Executive Seminar On "Capital Account Liberalization: Issues, Problems, And Prospect", Charles N. Mordi

Economic and Financial Review

The special remark was given by Mr Mordi, C.N.O. the then Ag. Director of Research and Statistics Department 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.


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.


Making Health Care Accountable: Why Performance-Based Funding Of Health Services In Developing Countries Is Getting More Attention. A Review, Nkenchor N. Igue Sep 2006

Making Health Care Accountable: Why Performance-Based Funding Of Health Services In Developing Countries Is Getting More Attention. A Review, Nkenchor N. Igue

Economic and Financial Review

This article examines the impact of performance based health funding in developing countries. It findings reveals that developing countries spent more on performance based health services which was identified as key factor to actualizing the target goal of the United Nation (UN) program called Millennium Development Goals.


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.


Cost Of Funds Determination By Banks In Nigeria, Izundu P. Nwaoba Sep 2006

Cost Of Funds Determination By Banks In Nigeria, Izundu P. Nwaoba

Economic and Financial Review

The article examined the cost of funds as a determining factors in the pricing of a loanable funds that has an influence on day-to-day running of the banks especially in the extension of credit to customer. It highlights how cost of fund was inversely computed by banks instead of the normal method. The finding revealed that high cost of funds is driven by scarcity of loanable funds in the banking system.


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.


Cointegration, Causality And Wagner's Law: A Test For Nigeria 1970-2003, Omo Aregbeyen Jun 2006

Cointegration, Causality And Wagner's Law: A Test For Nigeria 1970-2003, Omo Aregbeyen

Economic and Financial Review

This paper examines the validity of Wagner's Law (the tendency for public expenditure to grow relative to national income) against the contending Keynesian proposition (that it is the changes in public expenditure that trigger those of national income) using Nigeria's data over the period 1970-3003. Two variants of the models for investigating Wagner's Law were tested.


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, …


External Debt, Investment And Economic Growth: Evidence From Nigeria, Aloysius Ajab Amin, Isa Audu Mar 2006

External Debt, Investment And Economic Growth: Evidence From Nigeria, Aloysius Ajab Amin, Isa Audu

Economic and Financial Review

This paper studies the impact of external indebtedness on Nigeria's economic performance. We find supportive evidence for the crowding out and debt overhang hypotheses in Nigeria. Based on these results, the paper concludes that the prospects of resolving the debt crisis in Nigeria will depend on deeper debt relief, diversification of export base and substantial direct foreign investment. Debt relief will enable the country to use the lean foreign exchange earnings to procure the badly needed inputs for the industrial sector and upgrading of infrastructures. However, without a stable political and macroeconomic environment, efforts at reducing the external debt burden …


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.