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Full-Text Articles in Social and Behavioral Sciences

Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi Dec 2011

Keynote Address By Mallam Sanusi, Lamido Sanusi, Sanusi Lamido Sanusi

Economic and Financial Review

The keynote address delivered by the Governor, Central Bank of Nigeria at the Executive Seminar on "Financial Sector Development, Economic Growth and the Nigerian Economy" for CBN executive staff held in Eko Hotel and Suites, Victoria Island, Lagos State, May 7-10, 2012


Financing Nigeria's Growth After The Global Economic Crisis Within The Perspective Of Vision 20:2020 And The Transformation Agenda, Babatunde Lawal Dec 2011

Financing Nigeria's Growth After The Global Economic Crisis Within The Perspective Of Vision 20:2020 And The Transformation Agenda, Babatunde Lawal

Economic and Financial Review

The paper adopts content analysis method to investigate the underlying assumptions of the pillar of growth within the framework of Nigeria Vision 20:2020 (NV20:2020) and the transformation agenda. The aim is to show how realistic the underlying assumptions are and whether or not the available structure/measures of the financial system would be sufficient to finance the Vision. The conclusion is that the present Transformation Agenda and indeed the Medium-Term Implementation Plans adequately provide for the financing of NV20:2020 if the provisions of the documents are strictly adhered to.


Special Remarks By Sarah O. Alade, Ph.D (Mrs), Sarah O. Alade Dec 2011

Special Remarks By Sarah O. Alade, Ph.D (Mrs), Sarah O. Alade

Economic and Financial Review

Special remarks made by the Deputy Governor, (Economic Policy), Central Bank of Nigeria at the Executive seminar on "Financial Sector Development, Economic Growth and the Nigerian Economy" for CBN executive staff on May 7-10, 2012.


Financial Sector Development And Economic Growth: A Theoretical Exposition, Peter N. Umoh Dec 2011

Financial Sector Development And Economic Growth: A Theoretical Exposition, Peter N. Umoh

Economic and Financial Review

The various literature and studies reviewed in this exposition have underscored the positive impacts of a developed financial sector on an economy. Whilst a few studies showed that finance follows growth, the majority opinion is that finance leads growth. Unfortunately, growth has not led to economic development in many developing economies, necessitating intervention by such bodies as the United Nations, International Labour Organization and United Nations Development Programme. Economists are equally concerned about this development and have, therefore, conducted studies to show the relationship between economic growth and poverty alleviation. They generally agreed that growth is good for poverty reduction.


Financing The Real Sector For Sustainable Economic Growth In Nigeria: Performance, Challenges And Prospects, O. B. Obembe Dec 2011

Financing The Real Sector For Sustainable Economic Growth In Nigeria: Performance, Challenges And Prospects, O. B. Obembe

Economic and Financial Review

This paper examines some of the challenges constraining the financial sector in stimulating sustainable growth in Nigeria. It observes that for a successful real sector financing in Nigeria, a culture of accountability and transparency in the conduct of our national affairs must be taken seriously. The quality of governance must also be improved, to ensure that the legal framework for economic activities is well strengthened, such that the protection of creditors‘ rights may not be jeopardised.


The Millenium Development Goals: What Roles For The Financial Sector In Nigeria, Jonathan A. Aremu Dec 2011

The Millenium Development Goals: What Roles For The Financial Sector In Nigeria, Jonathan A. Aremu

Economic and Financial Review

The purpose of this paper, therefore, is to redefine the role of the Nigerian financial sector towards meeting the MDGs by 2015. The paper is, thus, structured into four parts. Part I, briefly analyses the targets of the MDGs and the situation in Nigeria. In part II, an attempt is made to examine the various areas where the financial sector can offer helping hands in the implementation of the MDGs targets in Nigerian economy. While Part III examines the reasons why financial services in Nigeria are not within the reach of the MDGs target group (the poor), Part IV addresses …


The Central Bank Of Nigeria And Its Developmental Functions: A Review Of Current Initiatives, Cajethan M. Anyanwu Dec 2011

The Central Bank Of Nigeria And Its Developmental Functions: A Review Of Current Initiatives, Cajethan M. Anyanwu

Economic and Financial Review

The paper x-rays the role of the Central Bank of Nigeria as an agent of economic development. The central bank impacts the economy via: ensuring monetary and price stability; management of external reserves; issue of legal tender currency; financial system management; the payments system; and developmental roles. Its developmental role has been given special attention in recent years with its intervention in the real sector.


Financing Inclusive Growth In Nigeria: Challenges And Prospects, Sheriff A. Tella, Patrick I. Esenwah Dec 2011

Financing Inclusive Growth In Nigeria: Challenges And Prospects, Sheriff A. Tella, Patrick I. Esenwah

Economic and Financial Review

This paper is divided into four Sections. The first is the introduction and definition of the title of the article, next is Section 2, which contains literature on theoretical construct on economic growth and development models, including Inclusive Growth (IG) model while in Section 3 we present the role of money in economic growth. Section 4 looks at models of financial inclusion and evidence of financing inclusive growth in some developing countries. In Section 5, we identified challenges and prospects for financing inclusive growth in Nigeria. Section 5 is the concluding remark where some recommendations are proposed for successful inclusive …


Financing Infrastructure And Growth: Lessons And Experience, Ahmed Mansur Dec 2011

Financing Infrastructure And Growth: Lessons And Experience, Ahmed Mansur

Economic and Financial Review

The paper addresses the issue of finance for infrastructure, the adequacy or otherwise of the traditional annuall budgetary allocation, and alternative methods for funding infrastructure. The potentials of the stockmarket in filling the financing gap, option of Public Private Partnership (PPP) arrangement in upscaling our infrastructure is examined. The paper covers an assessment of the merits and demerits of PPP, the PPP process and framework in Nigeria, and how Nigeria could benefit from the experiences of other jurisdictions.


Finance For Growth And Policy Options For Emerging And Developing Economies: Nigeria, Wumi Olayiwola, Henry Okoduwa, Evans Osabuohien Dec 2011

Finance For Growth And Policy Options For Emerging And Developing Economies: Nigeria, Wumi Olayiwola, Henry Okoduwa, Evans Osabuohien

Economic and Financial Review

This paper attempts to address the issues of the major impediments to mobilising investment funds, and the appropriate policies for achieving and guaranteeing finance for growth, by assessing the performance of financial policies of selected EMEs in mobilising financial resources for economic growth, and identifying policy options necessary for achieving finance for growth. The rest of the paper is organised as follows. Section 2 discusses the basic characteristics of emerging economies (EMEs), and Section 3 positions Nigeria among the EMEs within the context of finance for growth. Section 4 deals with challenges and constraints of Nigeria in achieving finance for …


The Legal And Regulatory Framework For Non-Interest Banking In Nigeria, A. Atta Sep 2011

The Legal And Regulatory Framework For Non-Interest Banking In Nigeria, A. Atta

Bullion

Non-interest bonking is one of the aspects of Islamic finance. Islamic finance distinguishes itself from conventional finance through its compliance with the principles of Islamic commercial jurisprudence. This paper examines the legal and regulatory framework for non-interest banking in Nigeria. First the paper explored the global development of non-interest banking and goes further to highlight why would non-interest banking be beneficial for Nigeria?; In identifying this, the paper highlighted the main contracts that would be used for transactions which include: Profit sharing agreements, Joint venture agreements, Purchase and resole contracts, investment Certificates, insurance; the current legal and regulatory framework and …


The Role Of Non-Interest Banking In National Economic Development, Hakeem Ishola Mobolaji Sep 2011

The Role Of Non-Interest Banking In National Economic Development, Hakeem Ishola Mobolaji

Bullion

The paper examines non-interest Banking model that operates devoid of interest in lending, financing, deposit-taking and all forms of financial intermediation. Hence, the bank becomes an important financial institution for enhancing growth and development in an economy. The article is divided into five section, the first being the introduction, section two contains the conceptual framework, three highlights non-interest banking in Nigeria and four concludes the paper.


Exploiting Public Private Partnership As A Tool For Infrastructure Development In Nigeria., Sani F. Mohammed Jun 2011

Exploiting Public Private Partnership As A Tool For Infrastructure Development In Nigeria., Sani F. Mohammed

Bullion

The paper highlights the importance of infrastructure development to economic growth and the need for government to toke a more strategic approach to tackling its dearth in Nigeria stressing the need to consider the Public-Private Partnership (PPP) as the preferred public infrastructure procurement option. This was in the light of the fact that the traditional procurement methods hove proved ineffective due to the growing competition for limited state funds, and the citizens' higher expectations for efficient services in critical sectors such as power, transportation, waste management. etc. The paper also reviewed the literature on PPP, its models, benefits and examples …


Money And Inflation: Evaluating The Effectiveness Of Monetary Policy In Nigeria, Mbutor O. Mbutor, Okafor Ifeanyi Izuchukwu, Ameh Oguche Sunday Jun 2011

Money And Inflation: Evaluating The Effectiveness Of Monetary Policy In Nigeria, Mbutor O. Mbutor, Okafor Ifeanyi Izuchukwu, Ameh Oguche Sunday

Bullion

The paper establishes the relationship between monetary policy and inflation.


Effects Of Global Climate Change On Nigerian Agriculture: An Empirical Analysis, Apata T. .G Jun 2011

Effects Of Global Climate Change On Nigerian Agriculture: An Empirical Analysis, Apata T. .G

CBN Journal of Applied Statistics (JAS)

This paper presents an empirical analysis of the effects of global warming on Nigerian agriculture and estimation of the determinants of adaptation to climate change. Data used for this study are from both secondary and primary sources. The set of secondary sources of data helped to examine the coverage of the three scenarios (1971-1980; 1981-1990 and 1991-2000). The primary data set consists of 900 respondents’ but only 850 cases were useful. This study analyzed determinants of farm-level climate adaptation measures using a Multinomial choice and stochastic-simulation model to investigate the effects of rapid climatic change on grain production and the …


Fiscal Federalism And Nigeria's Development: Comparative Perspectives From Canadian Fiscal Federalism, Olumide Victor Ekanade Jun 2011

Fiscal Federalism And Nigeria's Development: Comparative Perspectives From Canadian Fiscal Federalism, Olumide Victor Ekanade

Journal of Global Initiatives: Policy, Pedagogy, Perspective

This paper evaluates the historical dynamics that have shaped the development of fiscal federalism in Nigeria and Canada over the years. It contends that certain contradictions have inhibited the efficient and equitable allocation of tax powers and expenditure responsibilities in Nigeria. These include Nigeria's defective federal structure, military rule, Presidential federalism, politicized sharing principles, and the parochial political culture. These absurdities now threaten the stability of the Nigerian federation. The paper submits that the Canadian Federation offers a viable option for renewal with principles such as autonomy of sub national units, the predominance of the civic culture, scientific equalization, and …


Building Dynamic Stochastic General Equilibrium Models For Monetary Policy Analysis, Charles N. O. Mordi, Michael A. Adebiyi Mar 2011

Building Dynamic Stochastic General Equilibrium Models For Monetary Policy Analysis, Charles N. O. Mordi, Michael A. Adebiyi

Economic and Financial Review

Dynamic Stochastic General Equilibrium (DSGE) models are powerful tools that provide a coherent framework for policy discussion and analysis. In principle, they can help to identify sources of fluctuations, answer questions about structural changes, help to forecast and predict the effect of policy changes, and perform counterfactual experiments. Against this background, this paper aims at providing an insightful discussion on DSGE models by developing a simplified version of the models to explain the behavior of key macroeconomic variables in Nigeria namely: the growth rate of gross domestic product (GDP), headline inflation, exchange rate and the monetary policy rate. The estimated …


Liquidity Forecasting: Nigeria's Experience, Abdulrasheed Zubair Mar 2011

Liquidity Forecasting: Nigeria's Experience, Abdulrasheed Zubair

Bullion

This paper discusses the experience of the Central Bank of Nigeria (CBN) in liquidity forecasting by examining the key components of the Central Bank balance sheet. The paper is divided into four sections; following this, is section two which discusses the conceptual framework. Section three covers Nigerian experience in liquidity forecasting and techniques employed while section four contains the challenges of liquidity forecasting in Nigeria and the way forward and lastly, section five concludes the paper.


Strategy For Economic Development In South Korea: Lessons For Nigeria, B. N. Yaaba Mar 2011

Strategy For Economic Development In South Korea: Lessons For Nigeria, B. N. Yaaba

Bullion

The paper is organized into six sections; introduction, section two presents on overview of Korea's economic development, section three looks of the success factors. Section four examines the emerging challenges while section five draws some lesson for Nigeria from the Korean experience and section six concludes the paper.


Nigerian Sovereign Wealth Fund (Swf): Lessons From Existing Swf, M. U. Yakub Mar 2011

Nigerian Sovereign Wealth Fund (Swf): Lessons From Existing Swf, M. U. Yakub

Bullion

This paper examines the merits and demerits of some existing SWFs with the view of drawing some lessons of experience for Nigeria to establish its own SWF. Following this introduction, the paper in section two outlines the objective of SWF, section three discusses the merits and demerits of SWF, while section four examines countries experiences and section five dwells on the institutional framework for the fund and section six provides policy recommendation.


Librarians And Health Workers: Partnering And Collaborating To Support Free Access To Health Information In Nigeria, Ngozi Blessing Ukachi Jan 2011

Librarians And Health Workers: Partnering And Collaborating To Support Free Access To Health Information In Nigeria, Ngozi Blessing Ukachi

Collaborative Librarianship

The well-being of individuals and communities depend on accessibility to accurate health information. A recent study shows the many communities in some regions of Nigeria lack accessibility to this information. Building on the success of partnerships between librarians and health care workers in the delivery of health information in other parts of the world, the Nigerian situation could be greatly improved through a number of strategies, as suggested.