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Articles 1 - 14 of 14
Full-Text Articles in Social and Behavioral Sciences
Socio-Economic And Environmental Issues: Implications For Food Security In Nigeria, Isaiah O. Olurinola, Evans Osabuohien
Socio-Economic And Environmental Issues: Implications For Food Security In Nigeria, Isaiah O. Olurinola, Evans Osabuohien
Economic and Financial Review
Socio-economic activities within the agricultural sector have witnessed significant changes in recent times. Two major factors account for this recent development. Available evidence shows that over the last four decades, environmental challenges (such as pollution, extreme weather, fire disaster and deforestation, among others) have been on the increase in Nigeria. This is complicated by a weak institutional framework to stem the tide (Egbetokun et al., 2018; 2020). Also, the information from Nigeria Meteorological Agency (NIMET) shows that the annual mean climatic conditions (that is rainfall and temperature) in Nigeria have witnessed huge variation (NIMET, 2020; Egbetokun et al., 2020), which …
Pass-Through Effects Of Standing Facilities On Bank Interest Rates In Nigeria, Victor Ezeora Eleam, Chinyelu Gloria Ekwom, Chibueze Charles Ariolu, Chukwubuzo Jackson Umebali, Adewale Timothy Balogun
Pass-Through Effects Of Standing Facilities On Bank Interest Rates In Nigeria, Victor Ezeora Eleam, Chinyelu Gloria Ekwom, Chibueze Charles Ariolu, Chukwubuzo Jackson Umebali, Adewale Timothy Balogun
Economic and Financial Review
The paper investigates the pattern of pass-through effects of standing facilities rates on commercial bank retail interest rates in Nigeria. Monthly data spanning 2007:06 to 2019:12 and the Gregory-Hansen cointegration method that accounts for structural breaks are used in the empirical analysis. The adjustment parameters for the standing deposit and lending facilities are found to be significant, but with a low speed of adjustment. This provides some evidence on the nature of the interest rate channel of monetary policy transmission in the country. Furthermore, the study could not confirm asymmetry in the adjustment of retail rates to their long-run equilibria. …
Effect Of Public Debt On Private Investment In Nigeria: Evidence From An Asymmetric Dynamic Model, A. B. Abubakar, S. O. Mamman
Effect Of Public Debt On Private Investment In Nigeria: Evidence From An Asymmetric Dynamic Model, A. B. Abubakar, S. O. Mamman
Economic and Financial Review
This study examines the effect of public debt on private investment in Nigeria. The linear and non-linear ARDL models are employed to analyse the series spanning the period 1981 to 2018. The estimation results show that an increase in total debt, external debt, and debt service payment adversely affects private investment, with the effects being symmetric. On the other hand, the effect of domestic debt on private investment is found to be asymmetric. Although a negative shock in domestic debt greatly improves private investment, a positive shock leads to a meagre positive effect on private investment. This finding indicates that …
Macroeconomic Shocks And Fiscal Deficit Behaviour In Nigeria: A Vecm Approach., M. O. Abeng, K. S. Alehile
Macroeconomic Shocks And Fiscal Deficit Behaviour In Nigeria: A Vecm Approach., M. O. Abeng, K. S. Alehile
Economic and Financial Review
This paper focuses on establishing the links between fiscal deficit and short-term changes in major macroeconomic variables like real output, interest rate, exchange rate, inflation rate and crude oil price in Nigeria. Empirical results show that the model adequately explains the behaviour of government of fiscal deficit and that while the accumulation of deficit is not at all detrimental to the economy per se, prudence should be exercised in the financing options adopted and more so the appropriate application of such funds to selffinancing projects. It is recommended that government broaden its tax-net to curb the surging borrowing as well …
The Concepts And Practice Of Risk-Based Supervision., J. A. Afolabi
The Concepts And Practice Of Risk-Based Supervision., J. A. Afolabi
Economic and Financial Review
This paper seeks to examine the concept and practice of Risk-Based Supervision (RBS). For ease of discussion, the paper has been segmented into five sections. After the introduction, sections 2 and 3 examine the Conceptual Issues in Risk-Based Supervision and Country Experiences. Section 4 looks at the framework of RBS in Nigeria while section 5 concludes the paper.
Supervising Cross-Border Banks: Matters Arising., Kim Norris
Supervising Cross-Border Banks: Matters Arising., Kim Norris
Economic and Financial Review
An essential element of banking supervision is that supervisors supervise their banking groups on a consolidated basis, adequately monitoring and, as appropriate, applying prudential norms to all aspects of the business conducted by each group worldwide. This paper examines supervision of banking groups on a consolidated basis which goes beyond accounting consolidation. It simply implies that there is a group-wide approach to supervision whereby all risks taken on by each banking group are taken into account wherever they are booked (i.e. in the bank or in a subsidiary; in Nigeria or elsewhere).
Determinants Of Workers' Remittances: The Case Of Turkey: A Review., Magnus O. Abeng
Determinants Of Workers' Remittances: The Case Of Turkey: A Review., Magnus O. Abeng
Economic and Financial Review
The paper is focused on the determinants of workers remittances using Turkey as a case study.
Are Immigrants Remittance Flows A Source Of Capital For Development?: A Review, Phebian N. Omanukwue
Are Immigrants Remittance Flows A Source Of Capital For Development?: A Review, Phebian N. Omanukwue
Economic and Financial Review
The paper seeks to develop a remittance model that would indicate if immigrant remittances were a source of capital flows for development.
Purchasing Power Parity And Exchange Rate In Nigeria: A Regime Switching Approach., M. C. Ononugbo
Purchasing Power Parity And Exchange Rate In Nigeria: A Regime Switching Approach., M. C. Ononugbo
Economic and Financial Review
This study basically extends the work of Obaseki (1998) by including an additional variable to capture the impact of changes in exchange rate regime. The paper undertakes an empirical examination of the long-run co-movement in naira exchange rate and relative price levels of Nigeria and USA. The impact of the policy swap from a system of exchange rate control to a market based system (captured by a dummy variable) is investigated using an error correction model. The outcome reveals the applicability of the PPP using Nigerian data. From the analysis, the prevailing nominal exchange rate during the period closely approximates …
Determinants Of Non Debt Government Expenditure In Nigeria: 1970-2003., Magnus O. Abeng
Determinants Of Non Debt Government Expenditure In Nigeria: 1970-2003., Magnus O. Abeng
Economic and Financial Review
This paper is an empirical attempt to situate and examine the trend in the growth and structure of non-debt government expenditure in Nigeria. The objective is to elicit the determining factors driving non-debt expenditure growth profile, and by implication the growth of gross domestic product (GDP) in Nigeria. The study found a continuous downward movement, compared with allusions of increasing size of government expenditure as measured by the expenditure to GDP ratio. Econometric analysis indicated the existence of positive relationships and high sensitivity of total non debt expenditure to population growth, gross domestic product, total revenue and political activities, but …
Determinants Of Currency Composition Of External Reserves In Nigeria: An Empirical Investigation, Newman C. Oputa
Determinants Of Currency Composition Of External Reserves In Nigeria: An Empirical Investigation, Newman C. Oputa
Economic and Financial Review
This paper discusses the determinants of the currency composition of external reserves in Nigeria. The empirical analysis reveals that the main factors influencing the currency composition of external reserves in Nigeria are international trade transactions and currency composition of external debt, while reserve adequacy aided the diversification into more currencies. Exchange and interest rates were relatively significant in the share of each currency in the reserve basket. A review of CBN's external reserves policy confirmed that vigorous diversification was embarked upon when there was remarkable increase in the level of the reserve. However, current CBN reserve management policy shows a …
Foreign Direct Investment In Nigeria: Evidence From Time Series Data, Akpan H. Ekpo
Foreign Direct Investment In Nigeria: Evidence From Time Series Data, Akpan H. Ekpo
Economic and Financial Review
This paper examines the relationship between foreign direct investment (FDI) in Nigeria and some macroeconomic variables. The preliminary empirical results, covering the period 1970-1994, suggest that high debt service and low credit ratings discourage FDI. FDI is also sensitive to real per capita income and low rates of inflation.
Foreign Private Investment In Nigeria - 1993., Central Bank Of Nigeria Cbn
Foreign Private Investment In Nigeria - 1993., Central Bank Of Nigeria Cbn
Economic and Financial Review
The result of the annual foreign private investment survey conducted by the Central Bank of Nigeria in 1993 are presented in this report. The survey covers 721 establishments that are either fully foreign owned or are in partnership with Nigerians/Nigerian agencies or enterprises doing business in Nigeria. Questionnaires were retrieved from 370 companies, representing a response rate of 51.0 per cent. Statistical adjustment were however made for the non-responding institutions. The analyses of the report are presented in eight parts. In Part I, the flows of foreign investment by regions of origin, components and sectoral distributions are discussed. The cumulative …
On The Stability Of Money Multiplier Relations In Nigeria: An Alternative Testing Procedure, Sani L. Doguwa
On The Stability Of Money Multiplier Relations In Nigeria: An Alternative Testing Procedure, Sani L. Doguwa
Economic and Financial Review
The question of stability over time of the adjusted money multiplier relation is of crucial importance for adjusted base money to act as the main link to money supply. This paper tests the hypothesis of stability of money multiplier relations in Nigeria using the forward recursive cusum of squares that uses a confidence interval which is distributed as Pyke 's modified Kolmogrov-Smirnov statistic. The results of the stability tests applied to monthly data from January, 1991 to December, 1995 suggest that the functions underlying the adjusted money multipliers were not stable between March, I992 and December, I994. The two multiplier …