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2007

Economics

Institution
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Articles 1 - 30 of 119

Full-Text Articles in Social and Behavioral Sciences

Overview Of Monetary Policy In Nigeria, S. N. Ibeabuchi Dec 2007

Overview Of Monetary Policy In Nigeria, S. N. Ibeabuchi

Economic and Financial Review

This article provides and overview of monetary policy which is the instruments at the disposal of the monetary authorities to influence the availability and cost of credit/money M with the ultimate objective of achieving price stability. This overview is with reference to Nigeria.

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Exchange Rate Versus Capital Account Liberalization In Nigeria: Some Important Issues, A. E. Akinlo, D. O. Yinusa Dec 2007

Exchange Rate Versus Capital Account Liberalization In Nigeria: Some Important Issues, A. E. Akinlo, D. O. Yinusa

Economic and Financial Review

This article examines the relationship between exchange rate and account liberalization in Nigeria. It focuses on monetary policy design and management in a fast-changing world. It highlights that the need for continuous research into this subject is highlighted by the reliance on monetary policy as the principal tool for economic stabilisation in emerging market economies.

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Monetary Policy Transmission Mechanism In Nigeria, M. Ajayi Dec 2007

Monetary Policy Transmission Mechanism In Nigeria, M. Ajayi

Economic and Financial Review

This article reviews the monetary policy transmission mechanism in Nigeria and the various challenges of the transmission process. Also, it highlights the need to continuously examine the channels of monetary policy in the economy to enhance policy design and implementation in Nigeria. The paper is divided into five parts. Following the introduction as part I, Part II, discusses conceptual issues of monetary policy transmission mechanism, while Part III gives country experiences. Part IV x-rays monetary policy transmission mechanism in Nigeria and lessons from international experiences while Part V contains the concluding remarks.

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Standing Facilities And Liquidity Management In Nigeria: Progress So Far And Challenges Under An It Environment, J. K. A. Olekah Dec 2007

Standing Facilities And Liquidity Management In Nigeria: Progress So Far And Challenges Under An It Environment, J. K. A. Olekah

Economic and Financial Review

This article discusses the Central Bank of Nigeria (CBN) standing facilities and their effectiveness in reducing interbank interest rate volatilities as well as the challenges that have been faced by both the CBN and market operators in the implementation. The paper is organized into six sections. Following this introduction in section II, the CBN indirect monetary policy instruments are discussed as a prelude to the introduction of the standing deposit/lending facilities in December 2006. The CBN standing facilities as instruments of liquidity management are discussed in section III. Some of the countries that have adopted the policy instruments are surveyed …

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Exchange Rate Policy Design: Choosing The Right Exchange Rate Response In A Changing Environment, M. I. Obadan Dec 2007

Exchange Rate Policy Design: Choosing The Right Exchange Rate Response In A Changing Environment, M. I. Obadan

Economic and Financial Review

This article examines exchange rate policy design with reference to how to choose the appropriate exchange rate Response for the right environment. The article is structured into four parts with the introduction as part I. Part II gives the overview of Nigeria's exchange rate framework. Part III reviews different concepts of equilibrium exchange rates with a focus on the fundamental equilibrium exchange rate (FEER) and the behavioural equilibrium exchange rate (BEER) approaches. Part IV discusses the challenges encountered in choosing the right exchange rate response in the new banking sector environment. Part V concludes the paper and proffers the way …

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Towards Inflation Targeting Framework For Monetary Policy In Nigeria: The Challenges For Central Bank Of Nigeria, M. Hugman Dec 2007

Towards Inflation Targeting Framework For Monetary Policy In Nigeria: The Challenges For Central Bank Of Nigeria, M. Hugman

Economic and Financial Review

This article examines inflation with reference to Nigeria. As an emerging market environment. Part one outlines briefly the underlying mechanisms of inflation-management and general approaches to inflation targeting. Part two focuses on issues that specifically relate to inflation targeting (IT) in emerging markets, including the possible macroeconomic impact of the transition process. Part three considers the sequence and timing of the transition to IT in Nigeria, on the shift in exchange rate management required to achieve long-term price stability. Additionally, Nigeria-specific challenges are also addressed. The paper concludes by noting that both the time frame and coordination for a successful …

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Asset Price Movements And Derivatives: Implications For Monetary Policy In Nigeria, Ola Sholarin Dec 2007

Asset Price Movements And Derivatives: Implications For Monetary Policy In Nigeria, Ola Sholarin

Economic and Financial Review

The article highlights the importance of maintaining accurate market value for a wide variety of asset classes. From the perspective of speculators, the author discusses the methodology for identifying undervalued or overvalued assets for taking appropriate bet on such assets. From analysts, hedgers or investors perspective, this paper discusses how financial instruments derivative could be used to protect financial assets and return on such assets against volatility. The author highlights application of the same set of derivative instruments for speculative, regulatory arbitrageurs and other purposes. For the same group, this paper identifies fundamental variables that determine assets' prices in a …

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Welcome Address, C. E. Nkwonta Dec 2007

Welcome Address, C. E. Nkwonta

Economic and Financial Review

This is the welcome address for the seminar on "Monetary Policy in a Changing Environment" for CBN Executive Staff.

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Special Remarks, C.N.O. Mordi Dec 2007

Special Remarks, C.N.O. Mordi

Economic and Financial Review

This the special remarks delivered on the occasion of the opening ceremony of the 2007 CBN Executive Seminar on monetary policy in a changing environment for CBN Executive Staff.

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Opening Address, O. A. Demuren Dec 2007

Opening Address, O. A. Demuren

Economic and Financial Review

The opening address at the 2007 CBN Executive Seminar the on monetary policy in a changing environment.

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Keynote Address By S. O. Alade, Sarah O. Alade Dec 2007

Keynote Address By S. O. Alade, Sarah O. Alade

Economic and Financial Review

Keynote Address by Dr Sarah Alade, the Deputy Governor (Economic Policy), Central Bank of Nigeria at the CBN Executive seminar on monetary policy in a changing environment for CBN Executive Staff.

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Inflation Targeting As A Tool Of Monetary Management: International Experiences, A. F. Odusola Dec 2007

Inflation Targeting As A Tool Of Monetary Management: International Experiences, A. F. Odusola

Economic and Financial Review

This article seeks to address the main prerequisites and key challenges of implementing inflation targeting across many countries and draws relevant lessons for countries that are contemplating the adoption of IT. To achieve this objective, the rest of the paper has been structured as follows. Following the introduction is part II which examines the theoretical framework for IT while the review of international experiences is contained in part III. Contemporary issues and challenges are considered in part IV while recommendations and conclusion are the focus of part V.

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Promoting Economic Literacy In Massachusetts And Beyond, Margaret Brooks Dec 2007

Promoting Economic Literacy In Massachusetts And Beyond, Margaret Brooks

Bridgewater Review

No abstract provided.

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Monetary Policy And Economic Growth: Theoretical And Conceptual Issues, D. G. Omotor Dec 2007

Monetary Policy And Economic Growth: Theoretical And Conceptual Issues, D. G. Omotor

Economic and Financial Review

This article seeks to address the relationship between monetary policy and economic growth by enunciating the conceptual and theoretical issues that relate to monetary policy and economic growth. The paper is divided into five sections. Following the introduction in section 1, section 2 discusses the objectives of monetary policy. The monetary transmission mechanisms are schematically explained in section 3. Section 4 reviews the performance assessment of monetary policy and its framework in Nigeria. The constraints of monetary policy management in Nigeria are espoused in section 5. The final section concludes the paper.

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On The Total Duration Of Negative Surplus Of A Risk Process With Two-Step Premium Function, Pavlina Jordanova Dec 2007

On The Total Duration Of Negative Surplus Of A Risk Process With Two-Step Premium Function, Pavlina Jordanova

Applications and Applied Mathematics: An International Journal (AAM)

We consider a risk reserve process whose premium rate reduces from cd to cu when the reserve comes above some critical value v. In the model of Cramer-Lundberg with initial capital u ≥ 0, we obtain the probability that ruin does not occur before the first up-crossing of level v. When u < v, following H. Gerber and E. Shiu (1997), we derive the probability that starting with initial capital u ruin occurs and the severity of ruin is not bigger than v. Further we express the probability of ruin in the two step premium function model - ψ (u,v), by the last two probabilities. Our assumptions imply that the surplus process will go to infinity almost surely. This entails that the process will stay below zero only temporarily. We derive the distribution of the total duration of negative surplus and obtain its Laplace transform and mean value. As a consequence of these results, under certain conditions in the Model of Cramer-Lundberg we obtain the expected value of the severity of ruin. In the end of the paper we give examples with exponential claim sizes.

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A Future Of Good Jobs? America's Challenge In The Global Economy, Timothy J. Bartik, Susan N. Houseman Oct 2007

A Future Of Good Jobs? America's Challenge In The Global Economy, Timothy J. Bartik, Susan N. Houseman

Employment Research Newsletter

No abstract provided.

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The Analysis Of Poverty Dynamics In Algeria: A Multidimensional Approach, Abderrrezak Benhabib, Tahar Ziani, Samir Bettahar, Samir Maliki Sep 2007

The Analysis Of Poverty Dynamics In Algeria: A Multidimensional Approach, Abderrrezak Benhabib, Tahar Ziani, Samir Bettahar, Samir Maliki

Topics in Middle Eastern and North African Economies

No abstract provided.

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An Empirical Examination Of Price Competition In The Turkish Credit Card Market, Ahmet Faruk Aysan, Nusret Ahmet Muslim Sep 2007

An Empirical Examination Of Price Competition In The Turkish Credit Card Market, Ahmet Faruk Aysan, Nusret Ahmet Muslim

Topics in Middle Eastern and North African Economies

No abstract provided.

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Unexplained Differences In The Fdi Receipts Of Middle East And North Africa, Ayca Tekin-Koru Sep 2007

Unexplained Differences In The Fdi Receipts Of Middle East And North Africa, Ayca Tekin-Koru

Topics in Middle Eastern and North African Economies

No abstract provided.

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The Prospects Of Petroleum Output And Investment In Mena Oil Exporting Countries, 2005-2030, Michael J. Twomey Sep 2007

The Prospects Of Petroleum Output And Investment In Mena Oil Exporting Countries, 2005-2030, Michael J. Twomey

Topics in Middle Eastern and North African Economies

No abstract provided.

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How Open Are Arab Economies? An Examination With The Cti Measure, Jay Squalli, Kenneth Wilson Sep 2007

How Open Are Arab Economies? An Examination With The Cti Measure, Jay Squalli, Kenneth Wilson

Topics in Middle Eastern and North African Economies

No abstract provided.

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Financial Sector Deepening And Economic Growth: Evidence From Turkey, Oya Pinar Ardic, H. Evren Damar Sep 2007

Financial Sector Deepening And Economic Growth: Evidence From Turkey, Oya Pinar Ardic, H. Evren Damar

Topics in Middle Eastern and North African Economies

No abstract provided.

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Foreign Debt Dynamics In Middle Income Countries, Fatma Dogruel, A. Suut Dogruel Sep 2007

Foreign Debt Dynamics In Middle Income Countries, Fatma Dogruel, A. Suut Dogruel

Topics in Middle Eastern and North African Economies

No abstract provided.

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Measuring Vertical And Horizontal Intra-Industry Trade: The Case For Turkey, Güzin Erlat, Haluk Erlat, Demet Senoglu Sep 2007

Measuring Vertical And Horizontal Intra-Industry Trade: The Case For Turkey, Güzin Erlat, Haluk Erlat, Demet Senoglu

Topics in Middle Eastern and North African Economies

No abstract provided.

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Measuring The Accessibility Of Arab Markets, Jay Squalli, Kenneth Wilson Sep 2007

Measuring The Accessibility Of Arab Markets, Jay Squalli, Kenneth Wilson

Topics in Middle Eastern and North African Economies

No abstract provided.

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Preventing Regional Conflicts As A Global Public Good: The Case Of The Mena Region, Mehmet Serkan Tosun, Arzu Sen Sep 2007

Preventing Regional Conflicts As A Global Public Good: The Case Of The Mena Region, Mehmet Serkan Tosun, Arzu Sen

Topics in Middle Eastern and North African Economies

No abstract provided.

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The Role Of Development In Promoting Environmental Awareness: Evidence From Lebanon, Salpie Djoundourian Sep 2007

The Role Of Development In Promoting Environmental Awareness: Evidence From Lebanon, Salpie Djoundourian

Topics in Middle Eastern and North African Economies

No abstract provided.

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The Impact Of Trade Liberalization Of Growth, The Case Of Turkey, Nathalie Hilmi, Alain Safa Sep 2007

The Impact Of Trade Liberalization Of Growth, The Case Of Turkey, Nathalie Hilmi, Alain Safa

Topics in Middle Eastern and North African Economies

No abstract provided.

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Demographic Structure And Private Savings: Some Evidence From Emerging Markets, Jehad Yasin Sep 2007

Demographic Structure And Private Savings: Some Evidence From Emerging Markets, Jehad Yasin

Topics in Middle Eastern and North African Economies

No abstract provided.

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Foreign Direct Investment And Economic Growth In The Gcc Countries: A Causality Investigation Using Heterogeneous Panel Analysis, Mahmoud Al-Iriani Sep 2007

Foreign Direct Investment And Economic Growth In The Gcc Countries: A Causality Investigation Using Heterogeneous Panel Analysis, Mahmoud Al-Iriani

Topics in Middle Eastern and North African Economies

No abstract provided.

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