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Full-Text Articles in Social and Behavioral Sciences
Macro-Prudential Regulation And Effective Monetary Policy, Moses K. Tule
Macro-Prudential Regulation And Effective Monetary Policy, Moses K. Tule
Economic and Financial Review
This paper makes a bold attempt to examine some of the issues within the narrow context of monetary policy. Following the introduction, Section 2 examines some conceptual issues including the institutional framework for monetary and macro-prudential policy. Section 3 discusses the objectives and instruments of monetary and macro-prudential policy including indicators of systemic risk, while Section 4 examines at the interaction of macro-prudential with monetary policy and how this could be enhanced. In Section 5, the experiences of other countries with macro-prudential regulation are presented and lessons drawn for Nigeria. Section 6 concludes the paper and provides insights for an …
An Empirical Estimate Of The Optimal Level Of Fiscal Deficit In Guinea, Emmanuel A. Onwioduokit
An Empirical Estimate Of The Optimal Level Of Fiscal Deficit In Guinea, Emmanuel A. Onwioduokit
Economic and Financial Review
Excessive deficits, irrespective of the mode of financing, are assumed to be growth retarding. The conventional wisdom is that high budget deficit is a source of economic instability. Empirical research, however, does not conclusively support this conventional wisdom; results are mixed and controversial across countries . These conflicting results have raised the important question of heterogeneity and also underscored the usefulness of time series data for country specific studies in order to address heterogeneity. This paper sought to ascertain the relationship between fiscal deficits and economic growth in Guinea and to find the threshold level of fiscal, deficit that is …
Is Monetary Policy Responsive To External Reserves?: Empirical Evidences From Nigeria, Baba N. Yaaba
Is Monetary Policy Responsive To External Reserves?: Empirical Evidences From Nigeria, Baba N. Yaaba
Economic and Financial Review
The global economy has witnessed extraordinary boost in the accumulation of external reserves, following the Asian financial crisis of the 1990s. External reserves increased sharply from US$1.2 trillion in 1995 to over US$10.0 trillion in January 2012. Developing countries increased their share from 30.0 per cent in 1990 to 67.0 per cent in 2011. Nigeria is not left out in this trend, as external reserves grew from US$5.5 billion in 1999 to US$34.68 billion in March 2012, representing over 530 per cent increase within the period. This placed Nigeria as the 44th largest reserves holder in the world. Reflecting on …