Business Commons^™

Agribusiness, The Environment And Sustainable Economic Growth In Nigeria., G. E. Ukpong Dr,, G. O. Evbuomwan, E. U. Ukeke, F. O. Afemo

Bullion

The paper reviewed the performance of agribusiness in Nigeria in recent years and some major environmental problems which affected it, with a view to making some suggestions capable of fostering sustainable environment and growth of agribusiness in the interest of all economic agents.

Central Bank Of Nigeria Statistical Bulletin, December 1995, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from balance sheets and financial statements, which are primarily designed for legal and administrative purposes rather than economic analysis. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, using the monthly return of Assets and Liabilities and the summary trial balance as benchmarks. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. Deposit money banks are highly prone to volatility and fragility, making them subject to regulations and …

On The Issue Of Universal Banking In The Nigerian Context., V. A. Odozi

Bullion

The paper analyses the real issue in Universal Banking. Highlighting the global spread, the concept, the alternative approaches to Universal Banking as while the pros and cons. The author of the view that Universal Banking cannot deal with the inefficiencies and distortions in the system nor will it make a distressed merchant bank viable.

Convertibility Of The Naira: Issues And Prospects., J. O. Ashinze, E. A. Onwuoduokit

Bullion

The rapidly unfolding development's in the world economy in recent times, have led to resurgent calls for moves towards currency convertibility (basically, the unrestricted use of a country's currency for international transactions, allowing it to be freely exchanged for foreign currencies) as a part of the process of integration into the world market economy. This paper seeks to discuss the issues and prospects of naira convertibility. The paper is divided into four parts. Part 1 discusses the various concepts of and preconditions for currency convertibility. Part II, evaluates Nigeria's economic conditions in relation to the issue of convertibility. In Part …

The Implementation Of Federal Government Policy In The Reuse Planning Of Military Installations: A Case Study Of Gentile Air Force Station, John L. Hoover

Theses and Dissertations

Local communities affected by a base closure are uncertain as to their future and look to the federal government for guidance and economic assistance in rebuilding their local economy. The local communities want to close the base with as little federal government interference as possible and convert the base to civilian use with as much federal financial assistance as possible. During 1993-1994 two Air Force Institute of Technology research teams began longitudinal case studies of the base closure and rescue process at Gentile Air Force Station, Ohio to determine the effectiveness of the federal government's current approach. These research teams …

A Comparative Review Of The Major Options For The Marketing Of Nigeria's Agricultural Commodities, M. O. Ojo, E. E. Inang, E. U. Ukeje

CBN Occasional Papers

The main aim of the paper is to critically review past commodity marketing systems in Nigeria, highlight some of the weaknesses which constrained their efficiency, as well as assess the performance of the present system and determine the advisability of retaining or modifying the present marketing arrangement. The performance of the Commodity Boards before their abolition in 1986 was adjudged unsatisfactory. However, since the abolition of the Boards, it has been observed that the new produce marketing arrangement has introduced some dynamism into commodity pricing as produce prices for the first time have been determined by the combined forces of …

Towards Improved Competitiveness Of The Economies Of The West African Economic And Monetary Union, E. O. Akinnifesi

CBN Occasional Papers

As is well known, a monetary union with a common currency confers on its members the advantage of fixed exchange rate and consequent relative price stability. While these advantages held sway up to the mid-1980s in the case of the seven member countries of the CEA franc zone in West Africa, the vulnerability of the zone to external shocks became manifest from the second half of the 1980s. Fairly persistent overvaluation of the CEA franc over time had weakened the competitiveness of the export sector leading to several economic problems including domestic and external debt arrears, capital flight, and negative …

Structural Adjustment Programmes And External Trade In Developing Countries: Lessons For Nigeria, E. E. Inang

Economic and Financial Review

The failure of trade liberalization in developing countries is attributed to the economic dependency relationships initiated during the colonization period when the developed countries exploited their colonies as a source of cheap raw materials. After independence, and especially in the 1970s and 1980s, most sub-Saharan African countries experienced stagnation and decline in their share of world trade. The introduction of the structural adjustment programmes with its attendant trade liberalization prescriptions has further worsened the terms of trade in developing countries. Neither complete trade liberalization nor complete protectionism can be of benefit to developing countries. These countries need to reduce the …

Trends In Nigeria's Balance Of Payments (1980 - 1994), E. U. Olisadebe

Economic and Financial Review

This paper examines trends in Nigeria's balance of payments. Factors which have contributed to the continuous weakness of Nigeria's balance of payments include the poor performance of non-oil exports, fluctuations in crude oil prices, payments for the provision of international services, e.g., shipping, insurance, tourism, the low level of income from direct Nigerian investments abroad and high debt service payments. More fandamental problems underlie these factors.' a hostile international environment; a deterioration in terms of trade; a huge external debt servicing; slippages in fiscal and monetary policies and inappropriate exchange and interest rate policies. The failure of policy reforms to …

Monetary Policy And The Performance Of Commercial Banks In Nigeria, Okorie A. Uchendu

Economic and Financial Review

The purpose of this study is primarily to investigate the impact of monetary policy on the performance of the commercial banking industry in Nigeria. An analysis of the industry data showed a strong relationship between monetary policy instruments and commercial bank profitability measures, suggesting that appropriate monetary and banking policies are important factors to the continued stability and profitability of the commercial banking industry. More importantly, the evidence of oligopolistic competition in the commercial banking industry involving the three big commercial banks raises questions on their influence on effective transmission of monetary policy in Nigeria, role as financial intermediaries and …

Intersectoral Financing In Nigeria, 1989 - 1992, Central Bank Of Nigeria Cbn

Economic and Financial Review

Policy changes following the Structural Adjustment Programme (SAP) have had remarkable effects on the movement of funds between major sectors of the economy. The behaviour of economic aggregates over the period 1989 - 1992 showed that large transactions occurred in government debt instruments, the domestic loans and advances market and currency and deposits of financial system. Fund flowed from the households sector to the Federal Government and business sectors. The financial sector re/arms, including the interest rates deregulation, resulted in domestic savings exceeding capital formation, and contributed to the expansion in money supply. Lending activity of the banking system showed …

The Challenges For Economic Management In Nigeria, M. O. Ojo

Economic and Financial Review

The paper undertakes a critical evaluation of economic management strategies and associated programmes in Nigeria in the last twenty-five years in the context of its overall goals of increased prosperity for the populace, equitable distribution of achieved prosperity and sustaining the levels of living standards. The findings indicate negative outcomes in respect of these basic objectives. The paper then identifies some critical areas of economic management that have constrained full commitment to the pursuit of the primary goals as a result of which some policy recommendations are proposed. These include the need for macroeconomic stability, reduction and rationalisation of public …

Central Bank Of Nigeria Statistical Bulletin, June 1995, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from balance sheets and financial statistics, which are designed for various logistical and administrative requirements rather than economic analysis. Final data compilation involves aggregating the financial system's accounts to discern macroeconomic tendencies. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, using the monthly return of Assets and Liabilities (BANKOS 324) as a benchmark and the summary trial balance (BANKOS 302) as a source for detailed information. The Financial Statistics Office consolidates the accounts of monetary authorities and deposit money banks, producing monetary survey accounts. Deposit money banks are …

The Case For Affirmative Auction: From Conscience To Coffers, Ian Ayres, Peter Cramton

Peter Cramton

The Federal Communications Commission’s auction of wireless communication licenses last fall has been criticized as a huge Government giveaway because of the substantial bidding preferences granted to women and minorities. In March, Federal court action delayed the FCC’s June auction until August to consider the legality of similar preferences. But far from being a giveaway, affirmative action actually increased the total amount paid to the Government by about $15 million. Women and minority bidders were granted a 40 percent bidding credit on certain licenses and the right to pay the Government in installments over 10 years at a favorable rate. …

An Economic Study Of The Relative Profitability Of Alfalfa Production And Marketing Practices, David Claycomb

Masters Theses & Specialist Projects

The seasonality of the price of alfalfa hay in Kentucky was studied as well as the potential cost or profitability of storage of this hay. Economic comparison of alfalfa hay production to other farm enterprises was carried out. In addition, an estimate of the value of two qualities of alfalfa hay was calculated based on 1991 prices. The analysis of 41 years of marketing data demonstrated significant differences (P<.01) in price with seasonal lows in June/July and a steady increase in price to a high in March. In general (based on $100 per ton hay and 12% interest) the alfalfa hay producer could lose from $5 to $10 storing hay and selling at a later date. There were some specific conditions where he might have realized a return to storage of $0.16 to $1.48 per ton. A further evaluation of average (KY Feeder) and good (KY Pride) quality hays indicated that current prices of $70-$75 and $100 per ton respectively were the prices where a dairyman would be able to include this hay in the cow's total diet. Even with problems of quality and quantity of alfalfa hay, the economic returns to the production of alfalfa hay were favorable when compared to other crops in Kentucky with the additional benefit of alfalfa being a crop that can result in reduced soil erosion from sloping land. Returns above variable costs can be from $120 to $400 per acre depending upon yield and sale price. However, an understanding of seasonality of price as well as storage costs need to be considered by alfalfa hay producers to assure realizing the above returns.

Budget Of Renewal 1995, Sani Abacha General

Bullion

The paper contains the 1995 Budget speech of the Head of State and Commander-in-Chief of the Armed Forces of Nigeria, General Sani Abacha.

Fiscal Policy Issues And Expenditure Programme Under The 1995 Federal Budget., Okunrounmu T. O.

Bullion

This paper examines the role of the Federal government of Nigeria in the management of the economy through budgeting. This paper was discussed in sections. Section I reviews the fiscal policy issues of the budget while Part II analyses the expenditure programme of the budget. Part III appraises briefly the prospects of achieving the macroeconomic objectives proposed In the budget. The paper is concluded with a summary.

The Conduct Of Monetary And Banking Policies By The Central Bank Of Nigeria, V. A. Odozi

Economic and Financial Review

Monetary and banking policies are usually the responsibilities of the Monetary Authorities which comprise the Central Bank and the Central Government. In Nigeria, while the Central Bank exercises primary responsibilities for initiating, articulating, implementing and appraising such policies, the Bank's proposals are subject to the approval of the Federal Government. To facilitate the understanding of the conduct of monetary and banking policies by the CBN, it is necessary to articulate the theoretical framework of monetary policy, the CBN-monetary management techniques, as well as the policy measures adopted since 1986 to reform and strengthen -the banking system.

A Review And Analysis Of Agricultural Prices In Nigeria, 1977 - 1993, O. O. Akanji, E. U. Ukeje

Economic and Financial Review

This paper reviews and analyses the various prices that have been in existence in the agricultural sector since the re-organization of the produce marketing system in 1977 to the present free market system. It was observed that a close relationship existed between the market prices and the determined prices. However, some upward revisions in the official prices were found to be neither rational nor based on any concrete study. Moreso, most commodities were implicitly taxed during the period 1977-1985. The increases in the prices recorded between 1986 1993 due to market liberalization had an added problem of marketing. The domestic …

Eradication Of Banking Malpractices In Nigeria: Will Law Alone Succeed?, I. Joe Goldface-Irokalibe

Economic and Financial Review

The place of banks in the economic life of any nation is so strategic that every effort is made by the appropriate national authorities to regulate and effectively supervise banking business. This objective is often achieved through the mechanism of laws designed to purge the banking system of diverse frauds, and malpractices. This paper presents a general compendium of the socio-economic, as well as the cultural background that foster and sustain banking frauds and diverse malpractices in Nigeria. This is followed by an analysis of the various types of malpractices prevalent in the banking system, among which are malpractices by …

Human Development Report 1994 By The United Nations Development Programme (Undp), New York, A. I. Arinze

Economic and Financial Review

The central focus of the UNDP 1994 Human Development Report on sustainable human development makes its review essential due to the current global concern on sustainable economic development. The 1994 UNDP Human Development Report is divided into five major chapters. Chapter one defines the universalism of life claims and emphasizes the need for strategic planning towards sustainable human development. Chapter two highlights four essential characteristics of the new dimensions of human security, names two main components of human security and identifies eight threats to human security. Chapter three discusses disarmament in industrial and developing countries and the future of world …

Open Market Operations In 1994, P. A. Akatu, S. N. Ibeabuchi

Economic and Financial Review

In line with the objectives of the monetary policy in 1994, the CBN achieved a substantial reduction of its holding of treasury bills through open market operations that were aimed at slowing down the growth of base money and money supply. While the volume of open market sales suffered apparently from the initial market reactions to the budget for fiscal 1994 and later the political and industrial unrest, such sales reached record levels in the fourth quarter of the year. However, OMO largely responded to the short-term portfolio preferences of banks and did not translate into an overall pressure on …

The Multiplier Effect: Singapore's Hospitality Industry, Habibullah Khan, Sock-Yong Phang, Rex S. Toh

Research Collection School Of Economics

Tourism's contribution to Singapore's economy has increased over time. Tourism contributed 11.9% to Singapore's GDP in 1992, about half of that from direct revenues. Indirect and induced sources contributed about equally to the other half. While the direct effect of tourist expenditures on the Singapore economy are predominant, the indirect and induced effects are also significant, indicating strong sectoral linkages within the local economy, especially with respect to the hospitality industry.

Marketing The Rutland Heights State Hospital Rutland, Massachusetts, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report analyzed the characteristics of the Rutland Heights State Hospital site, town of Rutland, and the urban region of Worcester, Massachusetts. An assessment of the proposed re-use options provided in the State Master Plan was conducted. Finally, site management and marketing strategies were identified.

Berkshire County Commercial Corridor Market Analysis, Umass Amherst Center Economic Development

Center for Economic Development Technical Reports

This report focuses on the retail sector of Berkshire County, Massachusetts. The report examines the economic base and the significance of that sector to the future growth and development in the region.

Using Section 337 Of The Tariff Act Of 1930 To Block Materially Different Gray Market Goods In The Common Control Context: Are Reports Of Its Death Greatly Exaggerated?, Margo A. Bagley

Faculty Articles

This Comment examines the primary reasons for trademark owners within the common control exception to revisit section 337 when faced with materially different gray market goods. Part One discusses the issues in and history of the gray market goods controversy, and the common control exception. Part Two focuses on section 337: how it works, its use in gray market goods cases, and how it has changed as a result of amendments in the Omnibus Trade and Competitiveness Act of 1988 and in the Uruguay Round Agreements Act of 1994. Part Three traces the changes in the gray market landscape favorable …

A Cost-Benefit Analysis For The Implementation Of Lean Logistics To Aircraft Structural Repair At The Air Force Material Command's Warner Robins Air Logistics Center/Depot, Richard J. Ruggiero

Masters Culminating Experiences (1993-2011)

This research conducts a cost-benefit analysis of the implementation of lean logistics to the repair of aircraft structural components at the Air Force Material Command's (AFMC) Warner Robins Air Logistics Center (WR-ALC). A literature review identifies new business practices in the automotive industry, collectively 'termed "lean production," that were translated by the RAND Corporation into a modified Air Force logistics system-- the "lean logistics" model.

Theoretical costs and benefits from the lean logistics model are translated into empirical costs and benefits associated with aircraft structural repair. The cost-benefit analysis results clearly demonstrate that express distribution costs for the sizable aircraft …

Historical Review Of Social Security And Its Effect On Personal Savings, Douglas P. Rose

Masters Culminating Experiences (1993-2011)

Social Security has left its indelible mark on the American culture, however there still remains considerable debate over the effect it has had in curtailing personal savings for the express purpose of providing for one’s retirement. This study begins with a review of the origins of the modem Social Security system and critiques previous attempts at trying to quantify its impact on personal savings habits. While most previous attempts have aimed to construct a future benefits variable in order to measure this effect, it is presumed in this model that current observations and experiences with Social Security are the most …

An Economic Development Strategy For The Community Of Waynesville In A Dynamic Regional Setting, Zhongcai Zhang, Jeffrey S. Smith

Masters Culminating Experiences (1993-2011)

The Waynesville community is noted for its antique shops, good schools and high quality living environment. The Community is located in Warren County, Ohio. This report explores the opportunities and challenges of developing and implementing a strategic plan for coordinated economic development of the Community.

The study examines economic trends and community locational attributes to help detect economic opportunities the community could exploit A focus group session with business leaders helped to pinpoint economic development opportunities. Citizens input into shaping the focus of a development strategy was obtained by a telephone survey of 140 randomly selected local residents. The sample …

What's Wrong With Exploitation?, Justin Schwartz

Justin Schwartz

Abstract: Marx thinks that capitalism is exploitative, and that is a major basis for his objections to it. But what's wrong with exploitation, as Marx sees it? (The paper is exegetical in character: my object is to understand what Marx believed,) The received view, held by Norman Geras, G.A. Cohen, and others, is that Marx thought that capitalism was unjust, because in the crudest sense, capitalists robbed labor of property that was rightfully the workers' because the workers and not the capitalists produced it. This view depends on a Labor Theory of Property (LTP), that property rights are based ultimately …