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- CBN Journal of Applied Statistics (JAS) (15)
- Bullion (9)
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- Journal of Collective Bargaining in the Academy (2)
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- Hospitality Review (1)
- Journal of Undergraduate Research at Minnesota State University, Mankato (1)
- Pepperdine Policy Review (1)
- Professional Agricultural Workers Journal (1)
- Pursuit - The Journal of Undergraduate Research at The University of Tennessee (1)
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- e-Research: A Journal of Undergraduate Work (1)
Articles 1 - 30 of 38
Full-Text Articles in Business
Gross Domestic Product (Gdp) Rebasing And The Impact On Nigeria's Investment Environment, Bismark J. Rewane
Gross Domestic Product (Gdp) Rebasing And The Impact On Nigeria's Investment Environment, Bismark J. Rewane
Bullion
The paper looks at the impact of the rebasing on an important economic variable - investment. This is because investment is necessary for capital accumulation and economic growth. Specifically, this study examines the impact of GDP rebasing on Nigeria's investment environment. ln addition to this introduction section, section 2 considers GDP rebasing and the Nigerian case, section 3 is on the Nigerian Financial System Strategy (FSS) 2020, section 4 is on investment types, drivers and the Nigerian environment, section 5 offers some lessons for Nigeria and section 6 is the summary and conclusion.
Financial System Stability And The Payment System., Olubukola Akinniyi Akinwunmi
Financial System Stability And The Payment System., Olubukola Akinniyi Akinwunmi
Bullion
This article reviews the relationship between payments system and financial stability. lt explores the risks within the payments system and how they impact on financial system stability. Emerging issues in the payments system were highlighted and implications for the financial system stability were examined. The article also proposes sets of payments system indicators that may be adopted within the financial system stability analysis and policy making.
Gdp Rebasing And Implications For Fss 2020., Oluwatoyin Jokosenumi
Gdp Rebasing And Implications For Fss 2020., Oluwatoyin Jokosenumi
Bullion
A resilient economy founded upon a reliable financial system, is attainable upon the creation and management of a sound and progressive economic statistics and indicators such as the Gross Domestic Products (GDP) and other scholars’ parameters. This paper examines the GDP rebasing and its impact on Nigeria’s investment. The paper explains the concept of GDP; the need to maintain a strategic GDP; how it is computed and / or rebased. This is then followed by examining its implications, on all economic programs.
Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili
Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili
Bullion
The paper looks at the basic concepts in GDP compilation and the computational processes for the rebased GDP. The paper is structured into four sections. The first section deals with the introduction while section two explains some basic concepts and mathematics for GDP compilation. Section three takes a look at the GDP Rebasing while section four deals with the Recent Development from the rebasing exercise.
Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba
Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba
Bullion
The study explores the the global rise in the operation of sovereign wealth funds in a number of commodity and non commodity exporting counties has been of tremendous magnitude. The fact that, most, if not all the oil exporting countries of the world today have SWF clearly confirms the many benefits of having a sovereign wealth fund. Section two of the paper provides a brief review of literature. Section three discusses the rationale for SWFs with some stylized facts. The impact of SWFs on the economy is discussed in section four, section five discusses the significance of SWFs while, an …
A Study Of Technical Efficiency Of Deposit Money Banks In Nigeria (2007 - 2012), Auwalu I. Fagge
A Study Of Technical Efficiency Of Deposit Money Banks In Nigeria (2007 - 2012), Auwalu I. Fagge
Bullion
This paper examines the technical efficiency of deposit money banks (DMBS') in Nigeria. Measures of technical efficiency are derived in the Nigerian deposit money banks (DMBS') by implementing non-parametric, data envelopment analysis technique on a cross section of 24 banks taken from 2007 to 2013. The efficiency concepts, measurement and methodology were discussed. The existence of technical efficiency is established. The result suggests that the sources of overall technical inefficiency, the observed issues are due to poor input utilization (managerial inefficiency) and failure to operate almost productive scale size. Therefore, in this research the paper suggests or considers some important …
Nexus Of Exchange Rate Deregulation And Agricultural Share Of Gross Domestic Product In Nigeria, Oyakhilomen Oyinbo, Falola Abraham, Grace Z. Rekwot
Nexus Of Exchange Rate Deregulation And Agricultural Share Of Gross Domestic Product In Nigeria, Oyakhilomen Oyinbo, Falola Abraham, Grace Z. Rekwot
CBN Journal of Applied Statistics (JAS)
The kernel of this study was to examine the causal relationship between exchange rate deregulation and the agricultural share of gross domestic product in Nigeria from an econometric perspective using time series data spanning a period of 26 years (1986 – 2011). Data on exchange rate and gross domestic product were analysed using augmented dickey fuller unit root test, unrestricted vector autoregression, pairwise granger causality and vector error correction model. The results showed the existence of unidirectional causality from exchange rate to agricultural share of gross domestic production and also, exchange rate deregulation had negative influence on agricultural share of …
Forecasting Nigerian Stock Market Returns Using Arima And Artificial Neural Network Models, Godknows M. Isenah, Olusanya E. Olubusoye
Forecasting Nigerian Stock Market Returns Using Arima And Artificial Neural Network Models, Godknows M. Isenah, Olusanya E. Olubusoye
CBN Journal of Applied Statistics (JAS)
The study reports empirical evidence that artificial neural network based models are applicable to forecasting of stock market returns. The Nigerian stock market logarithmic returns time series was tested for the presence of memory using the Hurst coefficient before the models were trained. The test showed that the logarithmic returns process is not a random walk and that the Nigerian stock market is not efficient. Two artificial neural network based models were developed in the study. These networks are TECH (4-3-1) and TECH (3-3-1)whose out-of-sample forecast performance was compared with a baseline ARIMA (3,0,1) model. The results obtained in the …
Relationship Between Money Supply And Government Revenues In Nigeria, Yakubu Musa, Umar Usman, Aminu B. Zoramawa
Relationship Between Money Supply And Government Revenues In Nigeria, Yakubu Musa, Umar Usman, Aminu B. Zoramawa
CBN Journal of Applied Statistics (JAS)
The insights on the long run relationship amongst money supply and government revenues are of significant importance for monetary-fiscal policy formulation in a developing country like Nigeria. Taking into account the vital importance of these two variables, we empirically analyzed the long-run relationships and dynamic interactions between the money supply (broad money M2) and government revenues in Nigeria using an Autoregressive Distributed Lag (ARDL) bounds testing approach. The study spans the period 1970 to 2010. From the results, it is evident that there is the existence of a long run relationship between money supply and revenues when money supply is …
Cointegration Analysis Of Public Expenditure On Tertiary Education And Economic Growth In Nigeria, Japheth T. Torruam, Moses A. Chiawa, Cyprian C. Abur
Cointegration Analysis Of Public Expenditure On Tertiary Education And Economic Growth In Nigeria, Japheth T. Torruam, Moses A. Chiawa, Cyprian C. Abur
CBN Journal of Applied Statistics (JAS)
The paper investigates the Impact of public expenditure on tertiary education and economic growth in Nigeria using time series data for the period 1990- 2011.The econometric methodology employed was cointegration and error correction technique. The study concludes that public expenditure on tertiary education has positive impact on economic growth in Nigeria. The study recommended that government and private sectors should partner by mobilizing resources to furnish tertiary institutions and equip them with adequate facilities in order to enhance tertiary education development for sustainable economic growth.
The Balance Sheet Channel Of Monetary Policy Transmission: Evidence From Nigeria, Olorunsola E. Olowofeso, Abiodun S. Bada, Kufre J. Bassey, Kumafan S. Dzaan
The Balance Sheet Channel Of Monetary Policy Transmission: Evidence From Nigeria, Olorunsola E. Olowofeso, Abiodun S. Bada, Kufre J. Bassey, Kumafan S. Dzaan
CBN Journal of Applied Statistics (JAS)
This paper assesses the existence of a balance sheet channel of monetary policy transmission in Nigeria by examining whether variation in the official interest rate, with respect to the 2007- 2008 global financial crisis, feeds through to the deposit money banks (DMBs) balance sheets, and ultimately reflects in output and prices. Using quarterly macroeconomic data and stock from 2002 to 2012, the study employs an ordinary least squares (OLS) and autoregressive (VAR) framework to investigate the linkages between policy, DMB balance sheet, output and price. The results reveal the existence of a balance sheet channel in Nigeria with a significant …
Testing Volatility In Nigeria Stock Market Using Garch Models, Ngozi V. Atoi
Testing Volatility In Nigeria Stock Market Using Garch Models, Ngozi V. Atoi
CBN Journal of Applied Statistics (JAS)
The contributions of error distributions have been ignored while modeling stock market volatility in Nigeria and studies have shown that the application of appropriate error distribution in volatility model enhances efficiency of the model. Using Nigeria All Share Index from January 2, 2008 to February 11, 2013, this study estimates first order symmetric and asymmetric volatility models each in Normal, Student’s-t and generalized error distributions with the view to selecting the best forecasting volatility model with the most appropriate error distribution. The results suggest the presence of leverage effect meaning that volatility responds more to bad news than it does …
Determinants Of Economic Growth In Nigeria, Kazeem B. Ajide
Determinants Of Economic Growth In Nigeria, Kazeem B. Ajide
CBN Journal of Applied Statistics (JAS)
This paper investigates the role of Frazer Economic Freedom Index on FDI-growth relationship over the period spanning 1980 through 2010 using annual time series data. A Multivariate Regression approach was employed to estimate augmented growth models. Quite intriguingly, the impact of disaggregated economic freedom over aggregated composite index was found profoundly revealing. Emanated results show that the same set of variables like labour, life expectancy, degree of openness and economic freedom are factors affecting the level of economic growth in both but at different levels of significance. However, the estimates of disaggregated components of economic freedom data show that the …
A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, Nicholas R. Duafala
A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, Nicholas R. Duafala
Undergraduate Economic Review
This paper analyzes the effects of quantitative easing (QE) on the capital markets by modeling exchange traded funds (ETFs) returns using a generalized autoregressive conditional heteroskedasticity (GARCH) methodology. The results show that the 10-Year Treasury yields are significant in the returns of some sectors of the economy more so than others, and the Federal Funds Futures trading volume is significant in all ETFs return volatility. The implications of these results not only provide information about the reaction of the ETF market and QE, but also provide insight for developing investment strategies.
Globalization And Development In Latin America And The Caribbean: A Review, Diego José Romero
Globalization And Development In Latin America And The Caribbean: A Review, Diego José Romero
e-Research: A Journal of Undergraduate Work
Globalization and Development: A Latin American and Caribbean Perspective (2003) is a study of the process of globalization in the economic, political and cultural spheres, focusing mainly on the economic developments. Understanding the process as being multidimensional in nature, the authors, José Antonio Ocampo and Juan Martin, the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) and the Special Advisor to the Executive Secretary respectively[i], analyze globalization as a historic event realized in three well-differentiated phases, which prove, that it is not an irreversible process. The authors define globalization as "the growing influence exerted at …
The Role Of The International Monetary Funds (Imf) In The East Asian Debt Crisis Of 1997, Yaro Sadek Tahirou
The Role Of The International Monetary Funds (Imf) In The East Asian Debt Crisis Of 1997, Yaro Sadek Tahirou
Journal of Undergraduate Research at Minnesota State University, Mankato
During the East Asian Financial crisis in particular, the IMF has been criticized of promoting international cooperation because of the supervised enforcement of its rules. The purpose of this research is to find out how the IMF responded to the East Asian debt crisis and whether or not its responses were the best possible responses to this crisis. Through my research, I talked about the causes of the East Asian financial crisis, the role of the IMF in the international monetary system, and if the IMF responses to Thailand, South Korea and Indonesia were the best responses or not. After …
Strategic Management Research: The Missing Linchpin In Developing Economy’S Context, Irfan Saleem
Strategic Management Research: The Missing Linchpin In Developing Economy’S Context, Irfan Saleem
Business Review
Research is conducted to identify impact of adopting Strategic HRM on HR outcomes (i.e. job satisfaction and organizational commitment) and performance measures (i.e. organizational and, individual performance) in order to the fill empirical gap in developing economy’s context. Cased based survey approach has been adopted to retrieve the evidence from companies. Three organizations are studied in depth to identify the evidence about strategic role of HRM. Objectivism has been adopted to test ontological assumption whereas positivism has been incorporated to test the epistemological assumption to prove the nature of reality about Strategic HRM. Results depict that effective Strategic HRM adoption …
The Business Of Coupons-Do Coupons Lead To Repeat Purchases?, Margaret P. Ross
The Business Of Coupons-Do Coupons Lead To Repeat Purchases?, Margaret P. Ross
Pursuit - The Journal of Undergraduate Research at The University of Tennessee
In recent years, couponing has emerged as a pop culture phenomenon. Businesses of all types are taking advantage of this resource by revamping their out-dated programs and turning them into something fresh to excite customers. Many questions remain unanswered concerning the viability, profitability, and usefulness of coupons. This study is an analysis of the effectiveness of coupons in enticing return purchases in the soft-drink category and the effectiveness of price discriminating at this grocery store chain. The dataset is comprised of household level grocery store transactions compiled by dunnhumby USA for 2,500 households over a period of two years. An …
Modification Of Hansen-Hurwitz’S Estimators For Negatively Correlated Variates, Jonathan A. Ikughur
Modification Of Hansen-Hurwitz’S Estimators For Negatively Correlated Variates, Jonathan A. Ikughur
CBN Journal of Applied Statistics (JAS)
Most estimators in probability proportional to size (PPS) with replacement (WR) sampling design are defined for positively correlated variables. The literature on estimators involving negatively correlated variates is underdeveloped. This study utilized the law of inverse proportion to derive selection probabilities to modify the Hansen-Hurwitz’s estimator for use when negatively correlated variables are encountered in surveys. The suggested estimator is unbiased and could perform better than other estimators when information conveyed by correlation coefficient is used.
The Relationships Of Inflationary Trend, Agricultural Productivity And Economic Growth In Nigeria, Oyakhilomen Oyinbo, Grace Z. Rekwot
The Relationships Of Inflationary Trend, Agricultural Productivity And Economic Growth In Nigeria, Oyakhilomen Oyinbo, Grace Z. Rekwot
CBN Journal of Applied Statistics (JAS)
This study investigates the links existing between inflationary trend, agricultural productivity and economic growth in Nigeria using time series data spanning from 1970 to 2011. The results of the analyses indicate a unidirectional causality from inflationary trend to agricultural productivity, unidirectional causality from agricultural productivity to economic growth with no causality between inflationary trend and economic growth. Based on these findings, it is recommended that the Central Bank of Nigeria should pay more attention to the trend of inflation and pursue policies that will ensure single digit inflation.
Structural Breaks, Cointegration And Demand For Money In Nigeria, Sani I. Doguwa, Olorunsola E. Olowofeso, Stephen O. U. Uyaebo, Ibrahim Adamu, Abiodun S. Bada
Structural Breaks, Cointegration And Demand For Money In Nigeria, Sani I. Doguwa, Olorunsola E. Olowofeso, Stephen O. U. Uyaebo, Ibrahim Adamu, Abiodun S. Bada
CBN Journal of Applied Statistics (JAS)
This paper estimates the money demand function in Nigeria in the aftermath of the recent global financial crisis and examines whether its underlying properties has changed over the years. Specifically, the existence of a stable long-run demand for money function during the period 1991:Q1-2013:Q4, while accounting for the possibility of structural breaks is investigated. The Gregory-Hansen residual based test for cointegration detected both intercept and regime shifts in 2007:Q1 as the null of no cointegration is rejected at 1 per cent significance level, indicating that long run relationship exists between real money supply, real income, real monetary policy rate, exchange …
Modeling And Forecasting Currency In Circulation For Liquidity Management In Nigeria, Alvan Ikoku
Modeling And Forecasting Currency In Circulation For Liquidity Management In Nigeria, Alvan Ikoku
CBN Journal of Applied Statistics (JAS)
This paper presents forecasts of currency in circulation prepared for liquidity management at the Central Bank of Nigeria. Forecasts were produced using ARIMA, ARIMA with structural variables, VAR and VEC models. The performance of the forecasts was then evaluated under a rolling forecast scenario, where the estimation sample is augmented by one observation and the forecast sample is brought forward. The evaluation of the forecasts was based on average performance over a number of rolling forecasts. We found that the most accurate models were mixed models with structural as well as ARIMA components, augmented by seasonal and dummy variables. We …
Measuring Respondent Burden In Nigeria: A Case Study Of Central Bank Of Nigeria Enterprise Surveys, Ibrahim Adamu, Ismaila S. Sabi, Sani Bawa
Measuring Respondent Burden In Nigeria: A Case Study Of Central Bank Of Nigeria Enterprise Surveys, Ibrahim Adamu, Ismaila S. Sabi, Sani Bawa
CBN Journal of Applied Statistics (JAS)
This paper uses diffusion indices, percentages and reported time spent to measure the respondent burden in survey of foreign assets and liabilities (SOFAL) and business expectations survey (BES). The results show that respondents found it easy but time consuming to complete the SOFAL questionnaire with an average of 24 hours spent in collecting information and over 2 hours to fill the questionnaire. In contrast, respondents found it much easier and quicker to complete the BES questionnaire, spending an average of 47 minutes to collect relevant information from their records and another 36 minutes to complete the questionnaire. The paper identified …
Foreign Trade-Economic Growth Nexus: Evidence From Nigeria, Nosakhare L. Arodoye, Milton A. Iyoha
Foreign Trade-Economic Growth Nexus: Evidence From Nigeria, Nosakhare L. Arodoye, Milton A. Iyoha
CBN Journal of Applied Statistics (JAS)
This study examines the nexus between foreign trade and economic growth in Nigeria using quarterly time-series data for 1981Q1 through 2010Q4. In order to fully account for feedbacks, a vector autoregressive model is utilized. The results show that there is a stable, long- run relationship between foreign trade and economic growth. The variance decomposition results show that the predominant sources of Nigeria economic growth variation are due largely to “own shocks” and foreign trade innovations. The study therefore recommends adoption of trade expansion policies as a means of accelerating economic growth in Nigeria.
Developing Banking System Stability Index For Nigeria, Angela Sere-Ejembi, Ini S. Udom, Audu Salihu, Ngozi V. Atoi, Baba N. Yaaba
Developing Banking System Stability Index For Nigeria, Angela Sere-Ejembi, Ini S. Udom, Audu Salihu, Ngozi V. Atoi, Baba N. Yaaba
CBN Journal of Applied Statistics (JAS)
This study constructed a banking system stability index (BSSI) for Nigeria, using a combination of financial soundness indicators and macro-fundamentals. It applied statistical and Conference Board Methodology normalisation processes on Nigeria’s banking and macroeconomic data from 2007Q1 to 2012Q2. The resultant index traced fairly well the episodes of crisis in the system over the study period. Hence, the BSSI is capable of acting as an early warning mechanism of signaling fragility. It could, therefore, be used as a complimentary regulatory policy tool to detect potential threat to enable monetary authorities take timely pre-emptive policy measures to avert crisis.
Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2012, Sani I. Doguwa, Mohammed M, Tumala, Isaiah Olufemi Ajibola
Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2012, Sani I. Doguwa, Mohammed M, Tumala, Isaiah Olufemi Ajibola
CBN Journal of Applied Statistics (JAS)
The 2013 survey of foreign assets and liabilities of enterprises in Nigeria was conducted to determine destination sectors of foreign private capital flows and economies where such investments originate. The survey covered 649 large establishments in Nigeria with 87.4 per cent response rate. The cross border transactions/investments of the respondents during 2011 and 2012 indicate total foreign claims on the Nigerian economy as at end 2012 rising to N16, 790.78 billion from N13, 647.19 billion recorded in 2011. Of this total, 98.1per cent came in the form of direct investments, while portfolio investments and other capital flows accounted for 1.1 …
A Case Study Analysis Of A Regional Food System: The Sustainable Agriculture Consortium For Historically Disadvantaged Farmers Program, Tasha M. Hargrove, Walter A. Hill, John Brown, Miles Robinson, Iris Cole-Crosby, Elizabeth Myles, Billy Lawton, Karla Martin
A Case Study Analysis Of A Regional Food System: The Sustainable Agriculture Consortium For Historically Disadvantaged Farmers Program, Tasha M. Hargrove, Walter A. Hill, John Brown, Miles Robinson, Iris Cole-Crosby, Elizabeth Myles, Billy Lawton, Karla Martin
Professional Agricultural Workers Journal
The Sustainable Agriculture Consortium for Historically Disadvantaged Farmers Program (SACH) was designed to carry out an experiment by five 1890 Land-Grant Universities in partnership with five farmer based cooperatives in five states to assess marketing fruits and vegetables to Walmart from a regional perspective. Using the Consortium as a case study, this study assessed the Consortium within the framework of implementation evaluation; data were collected using semi-structured interviews and document analysis. The study answered questions such as, what did the Consortium do, and what were some of the accomplishments of the Consortium? The farmers were able to: negotiate price points; …
Bridging The Housing Deficit Gap In Nigeria Through The Mortgage Refinancing Scheme., Bandele A. G. Amoo, Nkereuwen I. Akpan, B. Hamma
Bridging The Housing Deficit Gap In Nigeria Through The Mortgage Refinancing Scheme., Bandele A. G. Amoo, Nkereuwen I. Akpan, B. Hamma
Bullion
The objective of this paper is to assess the efficacy of housing mortgages and the current mortgage refinancing company at addressing the housing deficit in Nigeria. This paper would be structured ' thus: section I is the introduction, while section 2 looks of housing provision and policy in Nigeria. Existing housing finance options in Nigeria are discussed in section 3 and the need for mortgage refinancing in Nigeria in section 4. Challenges of mortgage refinancing in Nigeria are examined in section 5, while the conclusion and recommendations are presented in section 6.
Cost Reduction Strategies & Corporate Governance: The Need For A Paradigm Shift In Public Sector Financial Management In Nigeria, Sunny Ekakitie-Emonena
Cost Reduction Strategies & Corporate Governance: The Need For A Paradigm Shift In Public Sector Financial Management In Nigeria, Sunny Ekakitie-Emonena
Bullion
This study is on exposition of the imperatives of cost reduction strategies and corporate governance practices as it relates to financial malfeasance. The mechanics for a paradigm shift discussed include: cost reduction techniques, adoption of cost efficiency techniques and maintenance and reportage of accurate financial records, etc.; along with adoption of sound corporate governance policies of accountability, adherence to regulatory framework, and respect for stakeholders' interest. The study concludes by suggesting further initiatives to 'clean-up and reposition' the sector for growth & economic development. These include: effective justice system, stepping up the policy of cashless economy, entrenching protection programs for …
Tax Harmonization In The West African Monetary Zone: Issues And Challenges, Emmanuel Ating Onwioduokit
Tax Harmonization In The West African Monetary Zone: Issues And Challenges, Emmanuel Ating Onwioduokit
Bullion
This paper explored the theoretical underpinnings for tax harmonization in a monetary union and critically perused the existing tax system in the WAMZ countries and found considerable differences in the applicable tax rates across the countries in the zone. This paper found that tax and proposes that tax harmonization should be the goal for all aspects of member states' tax system and concluded that a high degree harmonization is necessary in the indirect taxes; as such taxes may create an immediate obstacle to the free movement of goods and the free supply of services within the internal market.