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1997

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Articles 1 - 30 of 418

Full-Text Articles in Economics

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria Dec 1997

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria

CBN Annual Report

In 1997, Nigeria experienced its third consecutive year of macroeconomic stability, resulting in modest improvement in domestic output growth and a persistently low inflation rate. The balance of payments position showed a modest surplus, and significant success was achieved in reducing domestic liquidity growth. Domestic output expanded further due to increased agricultural output and crude petroleum production, while the inflation rate declined further. Domestic output, measured by the Gross Domestic Product (GDP), increased by 3.8% in 1997, as against the average growth rate of 2.3% in the preceding three years. The fight against inflation was highly successful, reaching a single …

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Seasonal Corn And Soybean Pricing; Benchmarks For Your Beef Herd: Where To Find Them, Dick Shane, Gene Murra Dec 1997

Seasonal Corn And Soybean Pricing; Benchmarks For Your Beef Herd: Where To Find Them, Dick Shane, Gene Murra

Economics Commentator

No abstract provided.

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Trends. Globalization As Old Wine In New Bottles: The 30th Anniversary Of The Association Of Southeast Asian Nations (Asean), Ibpp Editor Dec 1997

Trends. Globalization As Old Wine In New Bottles: The 30th Anniversary Of The Association Of Southeast Asian Nations (Asean), Ibpp Editor

International Bulletin of Political Psychology

The author discusses the new era of globalization.

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Review Of "The Post-Cold War Trading System: Who's On First?" By S. Ostry, Stephen S. Golub Dec 1997

Review Of "The Post-Cold War Trading System: Who's On First?" By S. Ostry, Stephen S. Golub

Economics Faculty Works

No abstract provided.

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The Future Role Of Technology In Banking Development In Nigeria., Paul A. Ogwuma Dec 1997

The Future Role Of Technology In Banking Development In Nigeria., Paul A. Ogwuma

Bullion

This is an address by the Governor of the Central Bank of Nigeria which examines the evolving relationship between banking sector development and technology in Nigeria and highlight both the future role of banking technology and the challenges that lie ahead. The address also argues that the economy is not only driven by technological advances, but have also in turn spawned technological developments. Technology has been the hub of banking development since the last decade and will continue to be so, well into the 21st century. the main focus of the address is information technology in the integrated form of …

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Management Of Foreign Exchange: A Peep Into The Next Decade., O K. Anifowose Dec 1997

Management Of Foreign Exchange: A Peep Into The Next Decade., O K. Anifowose

Bullion

The paper examines the management of the foreign exchange in Nigeria the next decade. The paper is structured into four main sections after these introductory remarks. section 1 discusses some conceptual issues such as:-foreign exchange versus external reserves, objectives of reserve management, strategies employed in managing the reserves and techniques for reserve management. section 11 discusses tools of reserve management the third section provides some thoughts as to the direction of foreign management in the next decade. section IV summarises and concludes the paper.

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Interest Rate Policies In Ecowas Countries: A Comparative Analysis., Benji C. Onyido Dec 1997

Interest Rate Policies In Ecowas Countries: A Comparative Analysis., Benji C. Onyido

Bullion

This paper reviews the experiences of developing countries in the management of interest rates, with emphasis on ECOWAS countries. While the Anglophone countries have adopted independent interest rate policies overtime, the Francophone members of the West African Monetary Union (WAMU) have shared similar experiences-a common currency (the CFA franc),a central bank (BCEAO) and common monetary policies. The paper is divided into four parts, in part I, it examines the roles of, and factors affecting interest rates. The part II highlights the characteristics of interest rates in developing countries and requirements for a successful interest rate reform. Part III reviews the …

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Monetary Policy And Financial Sector Reform., J. O. Adeeribigbe Dec 1997

Monetary Policy And Financial Sector Reform., J. O. Adeeribigbe

Bullion

The objective of this paper is to familiarize course participants with the importance of financial sector reform to the effective conduct of monetary policy based on free market principles, and examine the challenges posed to the monetary authorities in Nigeria in this regard. The paper is divided into four parts. following this introduction, part 11 of the paper analyses the framework for financial sector reform and implications for monetary policy. in part 111 an attempt is made to outline the implementation of financial sector reforms in Nigeria, while part IV evaluates the effectiveness of monetary policy between 1990 and 1997 …

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Government Fiscal Policy In 1996/1997: Implications For Economic Development And Survival Of Banks., Sarah Omotunde Alade Dec 1997

Government Fiscal Policy In 1996/1997: Implications For Economic Development And Survival Of Banks., Sarah Omotunde Alade

Bullion

The paper highlights the implications of fiscal policies in the economy and the survival of banks. It provide a broad overview of the impact of the fiscal policies adopted in 1996 and 1997 and its implications for development. The current fiscal policies are predicated on the 1995 budget, the discussion of the effect of fiscal policies on the economy will start from 1995 when the present fiscal policy stance of government began. The structure of the paper is as follows. The introduction, followed by the conceptual role of fiscal policy in an economy, while section III looks at the fiscal …

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Performance Evaluation Of Small-Medium Enterprises (Smes) In Nigeria., B S. Adebusuyi Dec 1997

Performance Evaluation Of Small-Medium Enterprises (Smes) In Nigeria., B S. Adebusuyi

Bullion

This paper attempts to evaluate the performance of the SME sub-sector in view of both the general and specific government developmental strategies and policies channelled to the sub-sector. The paper is structured into five sections. The first section reviews the definition, characteristics and roles of the SMEs. section II discusses government policies for the promotion of SMEs, and an evaluation of the performance of the sub-sector is undertaken in section III. The outstanding problems of the SMEs are outlined in section IV, while section V summarises and concludes the paper.

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Using Auctions To Divest Generation Assets, Peter Cramton, Lisa J. Cameron, Robert Wilson Dec 1997

Using Auctions To Divest Generation Assets, Peter Cramton, Lisa J. Cameron, Robert Wilson

Peter Cramton

In most states, ratepayers will compensate utilities for their stranded costs. As a result, these costs must be measured as accurately as possible, in a manner that is easily understood by all concerned parties. We describe the options for measuring stranded costs and argue that a simultaneous ascending auction is the best approach.

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Stock Market And Macroeconomic Policies: New Evidence For The Pacific Basin Countries, Unro Lee Dec 1997

Stock Market And Macroeconomic Policies: New Evidence For The Pacific Basin Countries, Unro Lee

Eberhardt School of Business Faculty Articles

This article investigates whether the stock markets of the Pacific Basin countries of Hong Kong, Singapore, South Korea, and Taiwan are informationally efficient with respect to macroeconomic policies. Granger causality tests are utilized in the context of a Vector Error Correction Model to test the relationship between aggregate stock prices and monetary and fiscal policies. The findings indicate that the stock markets of all four countries are not efficient with respect to both macroeconomic policies. These findings are different from those of other articles focusing on major industrialized countries. Rejection of market efficiency may be attributed to the unique structure …

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Evaluating The Information Content And Money Making Ability Of Forecasts From Exchange Rate Equations, Ray C. Fair Dec 1997

Evaluating The Information Content And Money Making Ability Of Forecasts From Exchange Rate Equations, Ray C. Fair

Cowles Foundation Discussion Papers

This paper evaluates a particular set of equations for the dollar/yen and dollar/mark exchange rates. The forecasts from the equations dominate both forecasts from the random walk model and forecasts using the forward rate. The results also suggest that money may be able to be made in the forward markets using the equations.

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Non-Convex Costs And Capital Utilization: A Study Of Production Scheduling At Automobile Assembly Plants, George J. Hall Dec 1997

Non-Convex Costs And Capital Utilization: A Study Of Production Scheduling At Automobile Assembly Plants, George J. Hall

Cowles Foundation Discussion Papers

This paper studies how managers at automobile assembly plants organize production across time. Detailed data from eleven single-source automobile assembly plants display considerable cross-plant heterogeneity. At plants which make low- and medium-selling vehicles the capital stock often sits idle, production is more variable than sales, and weeklong shutdowns are often used to vary output. In contrast, at plants which make high-selling vehicles, the capital stock rarely sits idle, production is about as variable as sales, and over time — bit weeklong shutdowns — is most frequently used to vary output. To explain this difference in production scheduling, I formulate and …

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Contingent Pay And Employee Performance, Rania Mohamed Abou Senna Dec 1997

Contingent Pay And Employee Performance, Rania Mohamed Abou Senna

Archived Theses and Dissertations

No abstract provided.

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Curbing Urban Traffic Congestion In Singapore: A Comprehensive Review, Rex S. Toh, Sock-Yong Phang Dec 1997

Curbing Urban Traffic Congestion In Singapore: A Comprehensive Review, Rex S. Toh, Sock-Yong Phang

Research Collection School Of Economics

One of the most pervasive and frustrating of modern transportation problems is urban traffic congestion. Since 1975, Singapore has introduced a relentless series of traditional and experimental measures to slow down the growth of the motor vehicle population and to control its usage. While some of the measures have been somewhat successful, some of the problems were shifted or were substituted. The Area Licensing Scheme led to a shifting of the problem in time and place while the quota system has substituted uncertainty in quantity with uncertainty in price. Furthermore, the Preferential Additional Registration Fee system and the Quota System …

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The Eu-Egypt Partnership Agreement, Gehan Mamdouh Saleh Dec 1997

The Eu-Egypt Partnership Agreement, Gehan Mamdouh Saleh

Archived Theses and Dissertations

No abstract provided.

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Storage For Good Times And Bad: Of Rats And Men, Ted Bergstrom Nov 1997

Storage For Good Times And Bad: Of Rats And Men, Ted Bergstrom

Ted C Bergstrom

How do rats and squirrels decide how much to hoard for the winter when they do not know how long the winter will be? This paper argues that natural selection is likely to result in random differences in the attitudes toward systemic risk by genetically identical individuals.

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Do Guaranteed-Low-Price Policies Guarantee High Prices, And Can Antitrust Rise To The Challenge?, Aaron S. Edlin Nov 1997

Do Guaranteed-Low-Price Policies Guarantee High Prices, And Can Antitrust Rise To The Challenge?, Aaron S. Edlin

Aaron Edlin

Price-matching policies can be highly anticompetitive. They allow firms to raise their prices above competition levels by discriminating in price between informed and uninformed customers. The resulting high prices can persist even when new firms enter the industry, a fact that gives price matching the potential to be much more socially costly than an ordinary monopoly or cartel. At the same time, widespread entry implies that the agreement among sellers that is typical of a Sherman Act price-fixing case may be absent. In this article, Professor Edlin argues that there is nonetheless an analogy between a seller offering (and agreeing) …

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The Stock Market: Herd Mentality And Rationality; World Meat Production And Trade: Some Selected Comments, John Sodney, Gene Murra Nov 1997

The Stock Market: Herd Mentality And Rationality; World Meat Production And Trade: Some Selected Comments, John Sodney, Gene Murra

Economics Commentator

No abstract provided.

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Almost Everybody Disagrees Almost All The Time: The Genericity Of Weakly Merging Nowhere, Ronald I. Miller, Chris William Sanchirico Nov 1997

Almost Everybody Disagrees Almost All The Time: The Genericity Of Weakly Merging Nowhere, Ronald I. Miller, Chris William Sanchirico

All Faculty Scholarship

Suppose we randomly pull two agents from a population and ask them to observe an unfolding, infinite sequence of zeros and ones. If each agent starts with a prior belief about the true sequence and updates this belief on revelation of successive observations, what is the chance that the two agents will come to agree on the likelihood that the next draw is a one? In this paper we show that there is no chance. More formally, we show that under a very unrestrictive definition of what it means to draw priors “randomly,” the probability that two priors have any …

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Subsidies In Oligopoly Markets: A Welfare Comparison Between Symmetric And Asymmetric Costs, Stephen F. Hamilton, Rickard Sandin Nov 1997

Subsidies In Oligopoly Markets: A Welfare Comparison Between Symmetric And Asymmetric Costs, Stephen F. Hamilton, Rickard Sandin

Economics

Oligopolistic industries generally produce less than is socially desirable. As a result, the use of production subsidies is often suggested as a means of raising production toward the efficient level in imperfectly competitive markets. In cases where firms are equally efficient in producing the good, the common prescription is a policy of uniform subsidization, as suggested by Besley (1989).(1) When firms in an industry differ in cost efficiency, however, uniform subsidization involves subsidizing inefficient firms in the same manner as efficient firms. Consequently, uniform policy may be undesirable from a social perspective, particularly when the price-cost margins of inefficient firms …

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Meaningful Measures Of The Current Account, Eric O'N. Fisher, Youngsoo Woo Nov 1997

Meaningful Measures Of The Current Account, Eric O'N. Fisher, Youngsoo Woo

Economics

Since the conventional current account uses cash-flow accounting, it is potentially devoid of economic meaning. Assessing foreign assets at market values and including expected transfers from abroad, this paper reports two measures of the external surplus that are grounded in economic theory. The first measure is the aggregate generational current account, annual differences in the sum of net foreign assets across all current and future generations. The second measure is the generational profile of net foreign assets in a benchmark year. These ideas are implemented with data from Korea.

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Why Not Cut Pay?, Truman F. Bewley Nov 1997

Why Not Cut Pay?, Truman F. Bewley

Cowles Foundation Discussion Papers

Over 300 business people, labor leaders, business consultants, and counselors of unemployed people were interviewed during the recession of the early 1990’s in order to learn why wages and salaries were declining in only a few firms. Employers believed that cutting pay would hurt employee morale, leading to lower productivity and current or future difficulties with hiring and retention. There were few indications that unemployed people had excessive wage expectations. On the contrary, many unemployed were too flexible and found themselves rejected by firms as overqualified.

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Managerial Stress In Hong Kong And Taiwan : A Comparative Study, Oi Ling Siu, Luo Lu, Cary L. Cooper Nov 1997

Managerial Stress In Hong Kong And Taiwan : A Comparative Study, Oi Ling Siu, Luo Lu, Cary L. Cooper

Centre for Public Policy Studies : CPPS Working Paper Series

The purpose of this study was to investigate occupational stress in managers in Hong Kong (N=280) and Taiwan (N=347) using the Occupational Stress Indicator-2 (OSI-2). The results showed that the reliabilities and predictive validity of the OSI-2 subscales were reasonably high in both samples. The logical relationships between job satisfaction, mental and physical well-being that were found in the two samples have provided support to the findings obtained in Western countries. The predictors for health effects were various and many in the two places. Further, there were gender differences in managerial stress in Hong Kong: female managers scored higher in …

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Breaking Trends And The Money-Output Correlation, David Fernandez Nov 1997

Breaking Trends And The Money-Output Correlation, David Fernandez

Research Collection Lee Kong Chian School Of Business

This paper examines the impact on the money-output correlation of a univariate specification that allows time series to be characterized as stationary around a broken trend function. Though pretesting suggests that U.S. real output (industrial production) can be described as broken-trend stationary, this result has only limited impact on the money-output correlation. Before 1985 there is a strong Granger causal relationship between money and broken-detrended output (hut not first-differenced output), even when different short-term interest rates are used as regressors. However, after 1985 this relationship weakens significantly, whether or not one determines that output has a unit root.

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Does Human Capital Cause Economic Growth In Egypt?, Iman Mohamed Fouad Mohamed Nov 1997

Does Human Capital Cause Economic Growth In Egypt?, Iman Mohamed Fouad Mohamed

Archived Theses and Dissertations

No abstract provided.

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International Trade Between Consumer And Conservationist Countries, M. Scott Taylor, James A. Brander Oct 1997

International Trade Between Consumer And Conservationist Countries, M. Scott Taylor, James A. Brander

M. Scott Taylor

We consider trade between a Consumer country with an open access renewable resource and a Conservationist country that regulates resource harvesting to maximize domestic steady-state utility. In what we call the mild overuse case, the consumer country exports the resource good and suffers steady-state losses from trade, as suggested by the conventional wisdom that weak resource management standards confer a comparative advantage on domestic firms in the resource sector but cause welfare losses. Strikingly, however, when the resource stock is most in jeopardy, the conservationist country exports the resource good in steady state and both countries gain from trade.

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Crop System Diversity: Historical Perspective And Current Policies, Thomas L. Dobbs, Linda M. Dumke Oct 1997

Crop System Diversity: Historical Perspective And Current Policies, Thomas L. Dobbs, Linda M. Dumke

Economics Commentator

No abstract provided.

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Euro-Psychology: When Money Is More Than Money, Ibpp Editor Oct 1997

Euro-Psychology: When Money Is More Than Money, Ibpp Editor

International Bulletin of Political Psychology

This article describes some psychological roles of money and the import of these roles for domestic and international economics. The coming of the euro is used as an example.

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