Social and Behavioral Sciences Commons^™

“Taking Up The Slack”: Penobscot Bay Women And The Netting Industry, Nancy Payne Alexander

Maine History

Between 1860 and 1900 the economy of Penobscot Bay communities changed dramatically, from the steady growth and prosperity of their natural resource-based economy to the decline in population and a painful transition to manufacturing and service industries. Both men and women had enjoyed independence in their labor in the old economy. The new cash economy made it necessary for them to seek out new ways of supporting their families, with home manufacture, or putting out work, one way of earning an income. They remained independent from an employer’s direct supervision and earned cash payment, a change from the face-to-face economy …

Book Review: Not Broke, But Badly Bent, Charles F. Angell

Bridgewater Review

Review of:

• Gary Rivlin, Broke, USA: From Pawnshops to Poverty, Inc. - How the Working Poor Became Big Business
• Ellen Ruppel Shell, Cheap: The High Cost of Discount Culture
• Barbara Ehrenreich, Bright-Sided: How the Relentless Promotion of Positive Thinking Has Undermined America

The Performance Of Nigerian Stock Exchange Sectoral Indices: January 2009 December 2010, Alvan E. Ikoku, George Okorie

Bullion

The paper reviews the performance of the sectoral indices during the first twenty-four months of their existence, i.e., between their inception in January 2009 and December 2010. The authors seek to examine not only the raw performance of the indices but also their risk-adjusted performance. The results of the analysis will facilitate the allocation of capital by institutional as well as individual investors in the Nigerian equity market. The rest of the paper is organized as follows. Section 2 discusses the transformation of the indices and their correlation. In section 3, we examine the nominal performance of the sectoral indices …

Impact Of Banking Sector Reforms On The Nigerian Capital Market (Equities)., Peter A. Adekunle

Bullion

Following the outcome of the Special Joint Examination by the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC), ten banks were indicted, out of which two were asked to recapitalize, while the Chief Executive Officers (CEOs) and Directors of the remaining eight were removed by CBN based on mismanagement and poor corporate governance. In order to protect the investors as well as prevent unprecedented dumping of the shares of the listed seven banks, two weeks of full suspension was imposed on trading of their shares on the stock market at various times. This paper attempts to determine …

The Political Economy Of Currency Re-Denomination By Countries., Peter Nwaoba

Bullion

In the view of the Bank, redenomination policy for Nigeria was not to translate to revaluation, as market forces were to continue to determine the prices, including interest rates and exchange rates, with the expectation that inflation will be low while exchange rate will appreciate. The objective of this paper is to articulate the reasons and conditions under which countries embark on currency redenomination exercises, and how successful these exercises had been over the years. The paper is descriptive with presentation based on literature reviews. Under the redenomination programme, banknotes were to be issued in denominations of new 50k (old …

The Role Of Economic Community Of West African States (Ecowas) In Promoting Borderless Trade In West Africa., Adam J. Akperan, Sanni Ganiyu Kayode

Bullion

The Economic Community of West African States (ECOWAS) is a regional group of fifteen countries, founded in 1975. Its mission is to promote economic integration in "all fields of economic activities, particularly industry, transport, telecommunications, energy, agriculture, natural resources, commerce, monetary and financial questions, social and cultural matters". This paper examines the role of CBN economy and monetary policies on the heels of borderless trade amongst the ECOWAS State. ECOWAS aims to promote peace, co-operation and integration in economic, social and cultural activity, ultimately leading to the establishment of an economic and monetary union through the total integration of the …

Oil And Gas Management In Nigeria: Lessons For Ghana, Omolara O. Akanji Mrs.

Bullion

This paper is to discuss the oil and gas management in Nigeria: Lessons for Ghana. The paper is structured into five parts with part 1 being the introduction while part 2 scoops the literature on the economics of natural resources and its management globally. Part 3 will situate the Nigeria's multifaceted crisis of oil and gas governance and all related issues. Part 4 will sieve out the lessons for Ghana while part 5 summarizes and concludes the paper.

Analysis Of Revenue Generation As A Tool For Socio-Economic And Infrastructural Development In Nigeria, Obiechina M.E.

Bullion

The paper analyses the federal government revenue vis-àvis the provision of socio-economic Volume 34, No. 4 October - December 2010 and infrastructural development in Nigeria from 1970 2008, the centerpiece, which is improved productivity and standard of living. To this end, the paper is divided into five sections. Following this introductory section, section two explains the concept of government revenue and infrastructural development as well as theoretical and empirical literature. In section three, we examine the sources and structure of government revenue. Section four focuses on the trend in government revenue and expenditure and the state of some infrastructure in …

Petroleum Industry Linkages And Nigeria's Economic Development, Chinyere U. Nwolisa, Chinyelu N. Ugoji

Bullion

Nigeria, Africa's most populous country and potentially its largest economy, has witnessed decades of dictatorship and misrule. Accompanying this misrule are severe economic problems of an unprecedented magnitude. This paper intends to add further clues to the solution for this national developmental puzzle. The remaining part of the paper is arranged thus: Part 2 presents an overview of the Nigerian Petroleum industry while the part 3 looks at the literature of economic development the country appears to be executing. Parl4 discusses the various linkages the Petroleum industry offers visa-vis Nigeria's exploration of their potentials. The penultimate part will offer some …

Optimal Designs Approach To Portfolio Selection, Etukudo A. I.

CBN Journal of Applied Statistics (JAS)

In order to obtain the best tradeoff between risk and return, optimization algorithms are particularly useful in asset allocation in a portfolio mix. Such algorithms and proper solution techniques are very essential to investors in order to circumvent distress in business outfits. In this paper, we show that by minimizing the total variance of the portfolio involving stocks in two Nigerian banks which is a measure of risk, optimal allocation of investible funds to the portfolio mix is obtained. A completely new solution technique – modified super convergent line series algorithm which makes use of the principles of optimal designs …

Relationship Between Inflation And Stock Market Returns: Evidence From Nigeria, Omotor G. Douglason

CBN Journal of Applied Statistics (JAS)

The linkage between stock prices and inflation has been subjected to extensive research in the past decades and has arouse the interests of academics, researchers, practitioners and policy makers globally, particularly since the 1990s. The issue has been the apparent anomaly of the negative relationship between inflation and stock market returns as most studies in the industrialized economies have shown. This paper investigates this relationship using monthly and quarterly data of Nigeria for the period 1985 to 2008. The findings of this paper seem to suggest that stock market returns may provide an effective hedge against inflation in Nigeria.

Statistics For National Development, Sani I. Doguwa

CBN Journal of Applied Statistics (JAS)

Good statistics that has been collected according to agreed good practices are crucial as a tool for development. Gross domestic product (GDP) and other measures of economic activity such as Gross National Income (GNI) together with their individual components, show how the economy is responding to government policy and other influences. The balance of payments can demonstrate the requirement for policy adjustments and is also one of the indicators scrutinised by potential foreign investors in the country. Agricultural statistics clearly have implications for longer-term planning, particularly if they show a move away from the land into urban areas or a …

Monetary And Fiscal Policy Interactions In Nigeria: An Application Of A State-Space Model With Markov-Switching, Chuku V. Chuku

CBN Journal of Applied Statistics (JAS)

This paper uses quarterly data to explore the monetary and fiscal policy interactions in Nigeria between 1970 and 2008. As a preliminary exercise, the paper examines the nature of fiscal policies in Nigeria using a vector autoregression (VAR) model. The simulated generalized impulse response graphs generated from the VAR estimation provides evidence of a non-Ricardian fiscal policy in Nigeria. Further, the paper analyzes the interactions between monetary and fiscal policies by applying a State-space model with Markov-switching to estimate the time-varying parameters of the relationship. The evidence indicates that monetary and fiscal policies in Nigeria have interacted in a counteractive …

Is The Stock Market A Leading Indicator Of Economic Activity In Nigeria?, Alvan E. Ikoku

CBN Journal of Applied Statistics (JAS)

In an effort to address the lacuna in leading indicator studies of African economies and Nigeria in particular, this paper examines the causal relationships among stock market prices, real GDP and the index of industrial production in Nigeria, using quarterly data from 1984Q1 to 2008Q4. Granger causality tests indicate bidirectional causality between stock prices and GDP but no causality between stock prices and industrial production or between GDP and industrial production. Stock prices and GDP are found to be cointegrated, leading to the estimation of vector error correction models. Out-of-sample forecasts constructed with AR(1), ARIMA, structural ARIMA, and VEC models …

Factors, Preventions And Correction Methods For Non-Response In Sample Surveys, Godwin Nwanzu Amahi

CBN Journal of Applied Statistics (JAS)

Missing survey data occur because of unit and item non-response. This is practically independent of the method of data collection. As a result of the bias that non-response sometimes introduces in survey estimates, identifying factors that promote it, and taking measures of prevention and correction methods are clearly necessary. The standard method to compensate for unit non-response is by weighting adjustment, while item non-responses are handled by some form of imputation. This paper reviews factors that give rise to nonresponse and the corresponding methods used for its prevention and control. It also discusses their properties.

Addressing The Problem Of Non-Response And Response Bias, Fabian C. Okafor

CBN Journal of Applied Statistics (JAS)

Survey planners and analysts in Nigeria have devoted much more attention to sampling errors at the expense of nonsampling errors (non-response and response errors). Sampling error is the degree to which the sample estimate differs from the average value of the characteristic due to chance. The present discussion will be centered on non-sampling error, which may present serious deficiencies in the statistics and render the survey useless. According to Platek and Gray (1986), “Non-response has been generally recognized as important measure of the quality of data since it affects the estimates by introducing a possible bias in the estimates and …

A Distributional Analysis Of Out-Of-Pocket Healthcare Financing In Nigeria Using A New Decomposable Gini Index, Ichoku Eme Hyacinth, William M. Fonta, Abdelkrim Araar

CBN Journal of Applied Statistics (JAS)

This study applies a new method of decomposing total redistributive effect of taxation proposed by Duclos et al. (2003) to assess the redistributive effects of direct healthcare financing in Nigeria. This new framework makes it possible not only to introduce into the conventional Gini Index estimation framework a flexible ethical measure of aversion to inequality but also a novel concepts of horizontal inequity and re-ranking. The empirical results indicate that when the decision to utilize healthcare is always linked to the decision to pay for healthcare, as is the case in Nigeria, out-of-pocket payment, contrary to existing literature, may indeed …

Japan’S Ticad: Alternative Global Framework For Africa’S Development?, Bertha Z. Osei-Hwedie, Kwaku Osei-Hwedie

Zambia Social Science Journal

Since 1993, Japan has sought to aid Africa’s development through the Tokyo International Conference on African Development (TICAD). TICAD is a multilateral, donor-recipient framework within which Japan interacts with Africa on a range of development issues. It represents the Post Washington Consensus approach as an alternative donor strategy and development model, with the hope of replicating the East Asian development miracle in Africa. TICAD makes Japan an important source of development assistance to Africa and for facilitation of South-South cooperation. This article discusses TICAD’s principles, objectives and programmes. It focuses on TICAD’s achievements in terms of its impact on African …

Growth And Regional Integration: The Case Of The Southern African Development Community, Chris Mupimpila, Patricia Funjika

Zambia Social Science Journal

The neoclassical growth model is augmented with structural variables to analyse the determinants of economic growth in the Southern African Development Community. The results show that physical capital, exports, infrastructure, and human capital have a positive and significant effect on economic growth. However, inflation and external debt service have a negative but significant impact on economic growth in the region. In addition, the results suggest that the underdevelopment of the financial sector is a source of heterogeneity among member countries. Therefore, to promote growth and deeper integration in the region, it is necessary to address the underlying causes of inflation, …

Are Savings Working For Zambia’S Growth?, Chrispin Mphuka

Zambia Social Science Journal

This article analyses the effect of savings on economic growth in Zambia. Using vector auto regression, the article finds that economic growth ‘Granger’ causes domestic savings. This goes contrary to the neoclassical theory on the relationship between economic growth and savings. However, the article argues that a case of increasing domestic savings mobilization holds on the premise that doing so may influence growth indirectly by attracting partnerships with international capital thereby helping to inject new technology in the economy which is undoubtedly vital for growth. The argument is strengthened further by observing that East Asian countries have grown faster than …

Achieving Middle-Income Status By 2030: Is This The Most Appropriate Objective For Zambia?, Venkatesh Seshamani

Zambia Social Science Journal

On the backdrop of three important quotes and based on a wealth of underlying research, this article presents a systematic review of growth and development measurement in general and specifically in relation to Zambia’s prospects of achieving middle income status by 2030. It highlights what it takes to achieve middle income status and what the limitations of such ambitions are. In commenting about Zambia’s prospects, the article presents detailed cross-country comparisons with selected African economies. Attention is paid to aspects of economic (income) growth, human development and true human progress, using a range of international indicators in the analysis. Ultimately …

Increasing Returns To Marketing In Zambian Maize Markets, Gelson Tembo, Thomas S. Jayne

Zambia Social Science Journal

The article investigates the existence of market externalities due to increasing returns to marketing. Panel data on 198 pairs of maize markets in Zambia and correlated random effects linear and tobit estimators were used to model the relationship between market externalities and producer-to-wholesale marketing margins. This article is one of the first to explicitly account for unobserved local market heterogeneity in a developing country context. The results suggest that Zambian smallholder maize markets are substantially specialized with significant margin-reducing own externality effects and insignificant cross-externality effects. The results also indicate that the unobserved market effects exert a systematic influence on …

Missing Pieces: A New Report To Congress Details Biases And Gaps In Economic Statistics Resulting From Globalization, Susan N. Houseman

Employment Research Newsletter

No abstract provided.

From Workforce Research To Workforce Policy, Stephen A. Wandner

Employment Research Newsletter

No abstract provided.

The Economic And Financial Policies To Fight Against Climate Change: The Case Of Maghreb, Nathalie Hilmi, Alain Safa

Topics in Middle Eastern and North African Economies

No abstract provided.

Banking In The Middle East Revisited Amid Turbulence In Financial Markets: The Case Of Egypt, Mine Cinar, Joseph Poulous

Topics in Middle Eastern and North African Economies

No abstract provided.

Politics, Foreign Reserves And The Exchange-Rate-Based-Stabilization-Policy: The Lebanese Case, Kassim M. Dakhlallah

Topics in Middle Eastern and North African Economies

No abstract provided.

On The Dynamics Of The Business Environment, A. Suut Dogruel, Can Karahasan

Topics in Middle Eastern and North African Economies

No abstract provided.

Historical Origins Of Inter-Religion Differences: Evidence From 19th And 20th Century Egypt, Mohamed Saleh

Topics in Middle Eastern and North African Economies

No abstract provided.

Determinants Of Consumer Confidence In Emerging Economies: A Panel Cointegration Analysis, Sadullah Celik, Erhan Aslanoglu, Seda Uzun

Topics in Middle Eastern and North African Economies

No abstract provided.