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Physical Sciences and Mathematics Commons™

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

2013

Business

CBN Journal of Applied Statistics (JAS)

Articles 1 - 7 of 7

Full-Text Articles in Physical Sciences and Mathematics

The Role Of Central Bank Of Nigeria’S Analytical Balance Sheet And Monetary Survey In Monetary Policy Implementation, Sani I. Doguwa, Sunday N. Essien Jun 2013

The Role Of Central Bank Of Nigeria’S Analytical Balance Sheet And Monetary Survey In Monetary Policy Implementation, Sani I. Doguwa, Sunday N. Essien

CBN Journal of Applied Statistics (JAS)

This paper discusses the significance of Central Bank of Nigeria’s (CBN) monetary aggregates in the implementation of monetary policy. The Analytical Balance Sheet and monetary survey are shown to be useful tools in the analysis of monetary and credit developments in the economy. It also discusses the role of the aggregates in monetary policy implementation through the adjusted money multiplier, which explains how policy actions of the CBN influence the broad money supply. Finally, the paper attempts to estimate the Taylor-type monetary policy reaction function for Nigeria using the monetary policy rate and reserve money since December 2006 when the …

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The Relationship Between Domestic Savings And Investment: The Feldstein-Horioka Test Using Nigerian Data, Inuwa Nasiru, Usman M. Haruna Jun 2013

The Relationship Between Domestic Savings And Investment: The Feldstein-Horioka Test Using Nigerian Data, Inuwa Nasiru, Usman M. Haruna

CBN Journal of Applied Statistics (JAS)

This study explores the relationship between savings and investment in Nigeria during the period 1980-2011. Unlike previous studies, this study employed Autoregressive Distributed Lag (ARDL) Bounds testing approach to test for long run relationship. The short-run dynamics are also captured from error correction model (ECM).The results of the Bounds test suggest that there is a long run relationship between savings and investment. This result is consistent with a number of earlier studies reviewed in the literature that found saving and investment to be cointegrated in the long run. The results also support the Feldstein-Horioka (1980) hypothesis that postulates low capital …

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On The Derivation Of Estimators Of Foster-Greer-Thorbecke (Fgt) Poverty Indices, Oyedeji I. Osowole, Adebayo T. Bamiduro Jun 2013

On The Derivation Of Estimators Of Foster-Greer-Thorbecke (Fgt) Poverty Indices, Oyedeji I. Osowole, Adebayo T. Bamiduro

CBN Journal of Applied Statistics (JAS)

Poverty analysis has relied heavily on data in summarized form and this has created dearth of knowledge on the statistical properties of Foster-Greer-Thorbecke (FGT) poverty indices. This study derived estimators of FGT poverty indices from first principles in an attempt to provide an insight into some intrinsic characteristics of FGT indices. The estimators are found to be reasonably unbiased and consistent. The estimates of the indices obtained from the estimators are approximately 53%, 22% and 12% for the head count, poverty gap and square poverty gap indices. From the conventional method, the estimates are approximately 52%, 21% and 11% respectively. …

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Monetary Policy Rule: A Broad Monetary Conditions Index For Nigeria, Yaaba N. Baba Jun 2013

Monetary Policy Rule: A Broad Monetary Conditions Index For Nigeria, Yaaba N. Baba

CBN Journal of Applied Statistics (JAS)

To determine the relative importance of both the domestic and external influences on monetary policy formulation, this paper constructs a broad monetary conditions index for Nigeria. It brings together the three key channels of monetary transmission, namely interest rate, exchange rate and credit channels. The result gives dominance to exchange rate channel, followed by credit channel and interest rate channel. The resultant monetary conditions index traces fairly well the policy direction of the Central Bank of Nigeria for the studied period, hence can serve as an adequate gauge of monetary policy stance of the Bank.

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Measuring Technical Efficiency Of Wireless And Wired Technologies In Nigeria Cyber Cafés, Sule Magaji, Eke I. Chukwuemeka Jun 2013

Measuring Technical Efficiency Of Wireless And Wired Technologies In Nigeria Cyber Cafés, Sule Magaji, Eke I. Chukwuemeka

CBN Journal of Applied Statistics (JAS)

This study examined the technical efficiency (TE) of two different remote internet access methods, wireless and wired in Nigeria using the stochastic frontier production function analysis. Primary data were obtained through the use of a set of questionnaire from four hundred and fifty representative samples of cyber café operators. The results show that in Nigeria, in spite of the acclaimed superiority of wireless technologies internationally, wired technology (within the context of Nigeria’s socio-economic constraints) is (still) more efficient technically with mean technical efficient indices of 0.914 and 0.797 respectively. The analysis also suggests that age and years of education of …

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Exchange–Rates Volatility In Nigeria: Application Of Garch Models With Exogenous Break, Bala A. Dahiru, Joseph O. Asemota Jun 2013

Exchange–Rates Volatility In Nigeria: Application Of Garch Models With Exogenous Break, Bala A. Dahiru, Joseph O. Asemota

CBN Journal of Applied Statistics (JAS)

This paper examines exchange–rate volatility with GARCH models using monthly exchange–rate return series from 1985:1 to 2011:7 for Naira/US dollar return and from 2004:1 to 2011:7 for Naira/British Pounds and Naira/Euro returns. The study compare estimates of variants of GARCH models with break in respect of the US dollar rates with exogenously determined break points. Our results reveal presence of volatility in the three currencies and equally indicate that most of the asymmetric models rejected the existence of a leverage effect except for models with volatility break. Evaluating the models through standard information criteria, volatility persistence and the log likelihood …

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Effect Of Monetary-Fiscal Policies Interaction On Price And Output Growth In Nigeria, Musa Yakubu, Asar K. Barfour, Shehu U. Gulumbe Jun 2013

Effect Of Monetary-Fiscal Policies Interaction On Price And Output Growth In Nigeria, Musa Yakubu, Asar K. Barfour, Shehu U. Gulumbe

CBN Journal of Applied Statistics (JAS)

This paper investigates the effectiveness of monetary-fiscal policies interaction on price and output growth in Nigeria. The dynamic correlations of variables have been captured by the analyses of impulse response and variance decomposition. From innovation analyses, the results suggest that the policy variables money supply and government revenue have more positive impact on price and economic growth in Nigeria specifically in the long run, thus some time with lag. Although monetary and fiscal policy variables have a dominant effect on economic activity, it is clear from this study that economic activity is dominated by its own dynamics in most of …

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