Food Security Commons^™

Nigerian Stock Index: A Search For Optimal Garch Model Using High Frequency Data, Olaoluwa Simon Yaya

CBN Journal of Applied Statistics (JAS)

This paper attempts to fit the best Generalized Autoregressive Conditional Heteroscedastic (GARCH) model for All Share Index (ASI) of Nigerian Stock Exchange (NSE) returns. A search is made on various GARCH variants specified on the assumptions of stationarity and asymmetry. Fractionally integrated types are also considered to capture the possibility of return series having property of long range dependency. The parameter estimations are carried out on the assumptions of normality and non-normality of GARCH innovations, with models and forecasts evaluated using information criteria and loss functions respectively. Under normality assumption, Hyperbolic GARCH (HYGARCH(1,d,1)) model is selected and Integrated GARCH (IGARCH(1,1)) …

Time Series Modeling Of Nigeria External Reserves, Iheanyichukwu S. Iwueze, Eleazar C. Nwogu, Valentine U. Nlebedim

CBN Journal of Applied Statistics (JAS)

This paper discusses the levels and trend of external reserves in Nigeria. The relevance of this lies in the fact that it could help to monitor the reserves and throw early warning signal about any economic crisis. Monthly data on Nigeria external reserves for the period January 1999 to December, 2008 derived from the 2008 CBN Statistical Bulletin was analyzed using ARIMA model. Results of the analyses show that (i) the data requires logarithmic transformation to stabilize the variance and make the distribution normal (ii) the appropriate model that best describes the pattern in the transformed data is the Autoregressive- …

A Markov Decision Process Approach To Optimal Control Of A Multi-Level Hierarchical Manpower System, Akaninyene U. Udom

CBN Journal of Applied Statistics (JAS)

A recurrent problem in manpower control is how to attain the desired structural configuration in an optimal way, since it is possible to reach a desired structural configuration using different control inputs. The major aim of this paper is to develop a Markov Decision Process for optimal control of a Multi-level Hierarchical Manpower System (MHMS) by promotion and interdepartmental transfers. This is examined under control by intervention and contraction cost Markov Decision Process.

The Irish Dairy Industry: Globalisation, Competition, Recession, & Consumerism, Brian Clancy, Angela Wright

Dept. of Organisation & Professional Development Publications

In today’s global environment, the dairy farmer and his herd have lost major importance and influence as a consequence of a variety of factors, among them the Industrial revolution, continued and increasing consumerism, the technological explosion, and the ever-expanding concentration of people in urban areas. This research study examines the Irish dairy industry in its current format. The objective of this study is to look at what dairy farmers need to do to grow and expand their business efficiently and effectively. The major challenge for the industry is to attract a new generation of knowledgeable workers to the land. This …

Public-Private Regime Interactions In Global Food Safety Governance, Ching-Fu Lin

Transnational Business Governance Interactions Working Papers

In response to an apparent decline in global food safety, numerous public and private regulatory initiatives have emerged to restore public confidence. This trend has been particularly marked by the growing influence of private regulators such as multinational food companies, supermarket chains and non-governmental organizations (NGOs), who employ private standards, certification protocols, third-party auditing, and transnational contracting practices. This paper explores how the structure and processes of private food safety governance interact with traditional public governance regimes, focusing on Global Good Agricultural Practices (GlobalGAP) as a primary example of the former. Due to the inefficiency and ineffectiveness of public regulation …

Measurement Of The Effect Of Policy Changes On Volatility In Dairy Markets1, Eoin Kelly, Declan O'Connor, Michael Keane

Irish Business Journal

Volatility in dairy commodity markets has become a major concern for many in the dairy supply chain and is likely to remain so in the future. Changes to the Common Agricultural Policy (CAP) over the past decade have more closely aligned EU and World prices and their associated volatilities. The aim of this paper is to measure volatility at farm level in Ireland over time, identify possible reasons for the increased volatility and identify ways of reducing volatility. Statistical measures such as coefficient of variation (CV) and annualised standard deviation are used to provide measures of past volatility and its …

Food Webs And Food Sovereignty: Research Agenda For Sustainability, Charles A. Francis, Michelle Miller, Molly Anderson, Nancy Creamer, Michelle Wander, Jacob Park, Thomas Green, Brent Mccown

Department of Agronomy and Horticulture: Faculty Publications

Future food production will be constrained by the scarcity of fossil fuel and fresh water as well as increasing intensity and unpredictability of weather events and climate changes. The assurance of food security and equity for many consumers is complicated by concentration of ownership of land and other production resources, as well as a global corporate food systems model that is driven by profit at the expense of people and the environment. To assess potential alternatives to the contemporary global food chain, well focused research is needed on local food production and food webs where small- and midscale family farms …

Contributions Of Financial Sector Reforms And Credit Supply To Nigerian Agricultural Sector (1978-2009), Anthony O. Onoja, M. E. Onu, S. Ajodo-Ohiemi

CBN Journal of Applied Statistics (JAS)

This study analyzed the trends and pattern of institutional credit supply to agriculture during pre- and post-financial reforms along with their determinants. It then compared the effects of reform policies on access to institutional credits in Nigerian agricultural sector before and after the reforms (1978 - 1985; and 1986 -2009). Relying mainly on time series data from CBN and NBS, it used ordinary least squares method (linear, semi-log and double log) to model the determinants of banking sector lending to the agricultural sector during the review period. The models were subjected to several econometric tests before accepting one. Chow test …

Determinants Of Foreign Reserves In Nigeria: An Autoregressive Distributed Lag Approach, David Irefin, Baba N. Yaaba

CBN Journal of Applied Statistics (JAS)

On global scale, central banks’ holdings of foreign reserves have escalated sharply in recent years. World international reserves holdings have risen significantly from US$1.2 trillion in 1995 to nearly US$10.0 trillion in June 2011. Dominant among these reserves are concentrated in the hands of few countries. Ten major holders of foreign reserves are mostly from Asia. Oil exporting countries in Africa and the Middle East are not left out in this trend. Nigeria’s foreign reserves rose from US$5.5 billion in 1999 to US$62.40 billion in July 2008, making Nigeria the twenty-fourth largest reserves holder in the world. This pace of …

Effects Of Exchange Rate Movements On Economic Growth In Nigeria, Eme O. Akpan, Johnson A. Atan

CBN Journal of Applied Statistics (JAS)

This study investigates the effect of exchange rate movements on real output growth in Nigeria. Based on quarterly series for the period 1986 to 2010, the paper examines the possible direct and indirect relationship between exchange rates and GDP growth. The relationship is derived in two ways using a simultaneous equations model within a fully specified (but small) macroeconomic model. A Generalised Method of Moments (GMM) technique was explored. The estimation results suggest that there is no evidence of a strong direct relationship between changes in exchange rate and output growth. Rather, Nigeria’s economic growth has been directly affected by …

Exchange Rate Volatility In Nigeria: Consistency, Persistency & Severity Analyses, Babatunde Adeoye, Akinwande A. Atanda

CBN Journal of Applied Statistics (JAS)

The adoption of the International Monetary Fund (IMF) Structural Adjustment Programme (SAP) in 1986 resulted in the transition from fixed exchange rate regime to floating exchange rate regime in Nigeria. Ever since, the exchange rate of naira vis-à-vis the U.S dollar has attained varying rates all through different time horizons. On this basis, this study examines the consistency, persistency, and severity (degree) of volatility in exchange rate of Nigerian currency (naira) vis-a-vis the United State dollar using monthly time series data from 1986 to 2008. The standard Purchasing Power Parity (PPP) model was used to analyze the long-run consistency of …

Foreign Private Investment And Economic Growth In Nigeria: A Cointegrated Var And Granger Causality Analysis, F. Z. Abdullahi, S. Ladan, Haruna R. Bakari

CBN Journal of Applied Statistics (JAS)

This research uses a cointegration VAR model to study the contemporaneous long-run dynamics of the impact of Foreign Private Investment (FPI), Interest Rate (INR) and Inflation rate (IFR) on Growth Domestic Products (GDP) in Nigeria for the period January 1970 to December 2009. The Unit Root Test suggests that all the variables are integrated of order 1. The VAR model was appropriately identified using AIC information criteria and the VECM model has exactly one cointegration relation. The study further investigates the causal relationship using the Granger causality analysis of VECM which indicates a uni-directional causality relationship between GDP and FDI …

Banking Sector Credit And Economic Growth In Nigeria: An Empirical Investigation, Aniekan O. Akpansung, Sikiru J. Babalola

CBN Journal of Applied Statistics (JAS)

The paper examines the relationship between banking sector credit and economic growth in Nigeria over the period 1970-2008. The causal links between the pairs of variables of interest were established using Granger causality test while a Two-Stage Least Squares (TSLS) estimation technique was used for the regression models. The results of Granger causality test show evidence of unidirectional causal relationship from GDP to private sector credit (PSC) and from industrial production index (IND) to GDP. Estimated regression models indicate that private sector credit impacts positively on economic growth over the period of coverage in this study. However, lending (interest) rate …

Planting Seeds For An Improved Agrifood System? Linking The Aims Of The Alternative Agrifood Movement To Executive Action In The First Two Years Of The Obama Administration, K. Glowa, Sarah Carvill, Costanza Rampini

Faculty Publications, Environmental Studies

This paper uses several case studies to look at the dialogic relationship between the Obama administration and the alternative agrifood movement. We evaluate the case studies based on criteria developed from the agroecology literature and literature on food security, agrarianism, and the alternative agrifood movement as a whole. Additionally we compare the policy tools utilized and the funding levels of each of the cases. Our findings suggest that the Obama administration is committed to tackling issues of food security and promoting the well-being of small- and mid-scale farmers and their local agrifood economies. Deconsolidation of large agribusiness, equitable trade, and …

An Hsi Report: The Impact Of Industrial Farm Animal Production On Food Security In The Developing World, Humane Society International

HSI REPORTS

Food security is often incorrectly used as a justification for the inhumane confinement of animals on industrial farm animal production facilities, while in reality, the industrialization of animal agriculture jeopardizes food security by degrading the environment, threatening human health, and diminishing income-earning opportunities in rural areas. Support from governments and international agencies for more humane and sustainable agricultural systems can ensure adequate food consumption and nutrition throughout the developing world.

Foodshed Foundations: Law's Role In Shaping Our Food System's Future, Margaret Sova Mccabe

Law Faculty Scholarship

[. . .] This symposium Article analyzes how we can rethink the architecture of law based on a foodshed model to provide a greater role for local, state, and regional government in the American food system. In turn, greater roles for different levels of government may help America achieve greater efficiencies in domestic food safety, nutrition and related public health issues, sustainability, and international trade.

Americans need a greater voice in the food system. The foodshed model is a powerful vehicle that allows us to conceptualize change, allowing greater citizen participation and a more nuanced approach to food policy. The …

Current And Future Food Demand In Western Australia. Module 1 Scoping Study, Andrew Weinert, Robert R. Rouda

Farm Systems and Economics published reports

Maintaining and growing our food industries are priorities of the Western Australian Government and its Department of Agriculture and Food, Western Australia (DAFWA). Understanding our current food consumption levels, imports, exports and production limitations is critical to the formulation of effective agricultural and food polices.

The WA food industries are affected by several factors that include previous domestic policies and market instruments; general lack of scale; geographical isolation; access to suitable land and water; the availability and use of new technology, communication, processing and transport infrastructure that facilitate efficient marketing; sales and administration; social factors; international tariffs and other trade …

An Hsus Report: The Impact Of Industrialized Animal Agriculture On World Hunger, The Humane Society Of The United States

Impact of Animal Agriculture

Of the world’s nearly 6.8 billion humans, almost 1 billion people are malnourished. Feeding half the world’s grain crop to animals raised for meat, eggs, and milk instead of directly to humans is a significant waste of natural resources, including fossil fuels, water, and land. Raising animals for food is also a major contributor to global warming, which is expected to further worsen food security globally. To meet the daily nutritional needs of a rapidly expanding population, the world’s human community, particularly in Western countries, must reduce its reliance on animal products and shift to a more plant-based diet.

Affects Of Organic Fertilizers On The Growth And Biomass Production Of Agricultural Crops, Deanna Marshik

Honors Capstones

Capstone submitted as a graduation requirement for the BSU Honors Program.

The Import Of Importing And Unnatural Acts: The Political Psychology Of Bioengineered Plants, Ibpp Editor

International Bulletin of Political Psychology

This article describes political psychological aspects of opposition to the importing of bioengineered plants.

Constraints As Opportunities, Umesh Rajamani

IIMB Management Review

Though India is avowedly a food giant, its food processing industry is still at a nascent stage. Lila Poonawalla, CMD of Tetra Pak India, a company that is in the forefront of packaging and promoting liquid food in the country, speaks about the challenges of marketing packaged liquid food - the immense possibilities, the constraints - ranging from a vacillating government policy to the conservatism of the Indian consumer - the need for constant innovation and Tetra Pak's firm belief in growing their business in tandem with their customers'.

A Comparative Review Of The Major Options For The Marketing Of Nigeria's Agricultural Commodities, M. O. Ojo, E. E. Inang, E. U. Ukeje

CBN Occasional Papers

The main aim of the paper is to critically review past commodity marketing systems in Nigeria, highlight some of the weaknesses which constrained their efficiency, as well as assess the performance of the present system and determine the advisability of retaining or modifying the present marketing arrangement. The performance of the Commodity Boards before their abolition in 1986 was adjudged unsatisfactory. However, since the abolition of the Boards, it has been observed that the new produce marketing arrangement has introduced some dynamism into commodity pricing as produce prices for the first time have been determined by the combined forces of …