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Social and Behavioral Sciences Commons™
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- Nigeria (11)
- Monetary Policy (8)
- Inflation Targeting (4)
- FSS 2020 (3)
- Monetary policy (3)
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- Economic Growth (2)
- Monetary Policy Instruments (2)
- Monetary Policy Transmission (2)
- Open Market Operations (2)
- Vision 2020 (2)
- Asset Price Movements (1)
- Bank Lending Channel (1)
- Base Money (1)
- CBN Standing Facilities (1)
- Capital Account Liberalization (1)
- Cash Reserve Requirement (1)
- Corruption (1)
- Crawling Peg (1)
- Credit Channel (1)
- Currency Boards (1)
- Debt Instrument Pricing (1)
- Derivatives (1)
- Developing Countries (1)
- Developing countries (1)
- Dollarisation (1)
- Domestic Output (1)
- Economic Development (1)
- Employment generation (1)
- Euro (1)
- Exchange Rate (1)
Articles 1 - 22 of 22
Full-Text Articles in Social and Behavioral Sciences
Overview Of Monetary Policy In Nigeria, S. N. Ibeabuchi
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.
Exchange Rate Versus Capital Account Liberalization In Nigeria: Some Important Issues, A. E. Akinlo, D. O. Yinusa
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.
Monetary Policy Transmission Mechanism In Nigeria, M. Ajayi
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.
Standing Facilities And Liquidity Management In Nigeria: Progress So Far And Challenges Under An It Environment, J. K. A. Olekah
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 …
Exchange Rate Policy Design: Choosing The Right Exchange Rate Response In A Changing Environment, M. I. Obadan
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 …
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 …
Asset Price Movements And Derivatives: Implications For Monetary Policy In Nigeria, Ola Sholarin
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 …
Welcome Address, C. E. Nkwonta
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.
Special Remarks, C.N.O. Mordi
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.
Opening Address, O. A. Demuren
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.
Keynote Address By S. O. Alade, Sarah O. Alade
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.
Inflation Targeting As A Tool Of Monetary Management: International Experiences, A. F. Odusola
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.
Monetary Policy And Economic Growth: Theoretical And Conceptual Issues, D. G. Omotor
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.
The Informal Sector And Employment Generation In Nigeria, A. S. Atoloye
The Informal Sector And Employment Generation In Nigeria, A. S. Atoloye
Economic and Financial Review
What this paper attempts to do is to bring the issues of employment generation in the NEEDS programme and the informal sector into sharper focus. The objective of the paper, therefore, is to assess how far the NEEDS programme has positioned the informal sector of the Nigerian economy, which constitutes the larger segment of the economy in playing the catalytic role of poverty eradication in Nigeria, and to explore the possibility of repositioning the sector to benefit more from the target employment under the programme.
Issues In Nigeria's Transport Data For Planning And International Comparison, G.T. Arosanyin
Issues In Nigeria's Transport Data For Planning And International Comparison, G.T. Arosanyin
Economic and Financial Review
This paper examines the types, sources and shortcomings of transport data required for planning and international comparison in Nigeria. The paper found that transport data as published in Nigeria are deficient in terms of transport development indicators, projections, comprehensiveness, consistency, adequacy and classification accuracy, among others. For Nigeria's transport data to be very useful for planning and international comparison there is the need for the government to adequately fund transport surveys regularly; harmonize the functions of the various agencies responsible for transport data collection and publication and; computerize the data storage and retrieval system.
Tariff And Factor Allocation In A Small Open Economy: Nigeria, T. B. Dipo, Elias A. Udeaja
Tariff And Factor Allocation In A Small Open Economy: Nigeria, T. B. Dipo, Elias A. Udeaja
Economic and Financial Review
This paper examines the likely impact of import tax reduction and its subsequent elimination on factor re-allocation under alternative exchange rate regimes in Nigeria. The study observed that the patterns of reallocation are quite qualitatively similar under alternative exchange rate regimes. Particular findings suggest that, under both exchange rate regimes, as import tariff is reduced progressively, the services industry loses labour employment to the manufacturing and agricultural sectors while the agricultural sector loses capital to both the manufacturing and service sectors. Under the different exchange rate regimes, the manufacturing sector is a net employer of labour and capital. The study …
The Industry Effects Of Monetary Policy In The Euro Area By Gert Peersman And Frank Smets: A Review, Ade O. Adenuga
The Industry Effects Of Monetary Policy In The Euro Area By Gert Peersman And Frank Smets: A Review, Ade O. Adenuga
Economic and Financial Review
The article sheds some light on the question of whether monetary policy has stronger effects on economic activity in recessions than in expansions. It analyzed which industries are relatively more affected in downturns. The estimation was done by examining eleven manufacturing industries in seven countries of the euro area. The article is related to the works of Garcia and Schaller,1995; Kakes, 1998; Dolado and Maria-Dolores, 1999; and Peersman and Smets, 2001.
Effect Of Financial Globalization On Developing Countries: Some Empirical Evidence By Eswar S. Prasad Et Al - A Review., Margaret Johnson-Hilili
Effect Of Financial Globalization On Developing Countries: Some Empirical Evidence By Eswar S. Prasad Et Al - A Review., Margaret Johnson-Hilili
Economic and Financial Review
A review of the paper "Effect of Financial Globalization on Developing Countries: Some Empirical Evidence" by Eswar S. Prasad. This paper provides an assessment of empirical evidence on the effect of financial globalization on developing economies. The authors used dejure restrictions on capital flows and actual capital flows across national borders in measuring the extent of a country's financial integration with the global economy.
The Persistence Of Corruption And Slow Economic Growth By Paolo Mauro Imf Staff Papers: A Review, A. U. Musa
The Persistence Of Corruption And Slow Economic Growth By Paolo Mauro Imf Staff Papers: A Review, A. U. Musa
Economic and Financial Review
The author listed two classical corruption practice that has impeded on economic growth i.e. (i) the individual bureaucrat who allocates his labour services between productive activity and theft of government resources in a classical case of portfolio adjustment and (ii) the corrupt politician who sets a bribe collection system (a bribe rate) with the maximization of utility as his goal vis-Ã -vis similar decisions by fellow politicians.
The Lending Channel Of Monetary Policy Transmission In Nigeria; Vector Autoregressive (Var) Verification, Mbutor O. Mbutor
The Lending Channel Of Monetary Policy Transmission In Nigeria; Vector Autoregressive (Var) Verification, Mbutor O. Mbutor
Economic and Financial Review
This paper has evaluated the nature of the lending channel of monetary policy transmission mechanism. The major prediction of the approach is that a monetary tightening through increase in the policy interest rate will lead to a decline in the quantity of loans granted by commercial banks. Nigerian data from 1970 to 2003 have been utilized to ascertain the correctness of this hypothesis, using the vector autoregressive methodology. The results show that increases in the Treasury bill rate lead to a contemporaneous rise in the price of loans and a fall (with a lag)in the quantity of loans. Both affirm …
Promoting Innovation In Developing Countries: A Conceptual Framework - A Review, O. Adesanya
Promoting Innovation In Developing Countries: A Conceptual Framework - A Review, O. Adesanya
Economic and Financial Review
The paper aims at providing a solid conceptual framework for the promotion of innovation in developing countries from which appropriate policies can be developed. The author opines that the growing interest in innovation promotion particularly technological innovation in developing countries stems from limitations experienced through traditional economic policies encapsulated in neo-liberalization. In the author's concluding remark, he posits that innovation in a broad sense is something new to a given context and the notion thus becomes generally acceptable to the peculiarities of developing economies from the most basic welfare improvements to the building of vibrant competitive industries. Consequently, the adoption, …
Computation Of Nigeria's Real Effective Exchange Rate Indices, Moses K. Tule, Omolara O. Duke
Computation Of Nigeria's Real Effective Exchange Rate Indices, Moses K. Tule, Omolara O. Duke
Economic and Financial Review
The exchange rate is a useful macroeconomic indicator which aid policy makers to take informed actions to stimulate or sustain the economy on a long run growth path. Thus, several exchange rate indices (bilateral nominal/real exchange rate, nominal effective exchange rate, real effective exchange rate, purchasing power parity, etc) are computed for different policy information. This paper computed Nigeria's real and nominal effective exchange rate (REER and NEER) indices using a pool of high frequency monthly data for the period 1996-2007. The paper observed that the REER index appreciated most of the period due to inflationary pressures in Nigeria, implying …