Economics Commons^™

The Role Of Central Banks In Capital Market Development: The Nigerian Experience., Alhaji A. Ahmed

Bullion

Central banks, especially in Third World countries, play a major role in the growth and development process. Although the structures, functions and powers of central bank vary from country to country, depending on the economic, political, social and other environmental realities prevailing in society, the primary role of any central bank is the promotion of monetary stability and a sound financial system. In performing this role, a central bank necessarily undertakes some functions which include the issue of legal tender currency, maintenance of the value of the national currency, enhancement of funds mobilization, facilitation of competitive efficiency among banks and …

The Role Of Regulatory Bodies In Capital Market Development: The Nigerian Experience., George Akamiokhor

Bullion

This paper examined the need for capital market regulation which is motivated by the desire to protect the investing public from malpractices, instil confidence in the system and ensure financial market and economic stability which are pivotal to economic growth and development. History has shown that inadequate or absence of regulation is detrimental to the capital market as it encourages sharp practices by participants. Regulatory agencies are therefore necessary to police activities in the market with the aim of preventing or minimizing abuses which might mar investors’ confidence, the market's integrity and stability. As financial markets get liberalized, market participants …

A Model Of The Link Between The Fiscal System And Singapore's Central Provident Fund In General Equilibrium, Hian Teck Hoon, Kai Lin Teo

Research Collection School Of Economics

This paper demonstrates a channel through which the fiscal system interacts with the choice of CPF contribution rates to affect total savings, and hence, capital accumulation and the current account. It is shown that in the presence of a wage income tax, raising either the employee's or employer's contribution rates raises the total private earnings. On the other hand, in the presence of a capital income tax, raising the employee's or employer's contribution rates lowers total private savings. However, when we introduce a productive role for government spending, we show that an increase in CPF contribution rates under a balances …

The Challenges Of The New Banking Legislations, Oduyemi O. S.

Bullion

This paper examines Nigeria's new banking legislations. The new banking laws together with deposit insurance system, established in 1988, and the new regulations embodies in the prudential guidelines and the accounting standards for banks, both introduced in 1990, constitute and essential foundation for managing and promoting a dynamic and sound financial sector. The new regulatory environment places emphasis on the need for institutions to strengthen and build up capital, improve the quality of assets and maintain high lending and investment standards. The paper is in three parts. Part I reviews some of the major trends in the financial industry with …

Regulatory Framework Of Non-Bank Financial Institutions In Nigeria., Ojo M. O.

Bullion

This article examines the regulatory framework of non-banking institutions (NBFIs) in Nigeria. Those institutions often referred to as non-banks have been identified. However, it is noted that in this paper non-bank financial institution are those defined as other financial institutions by the Banks and Other Financial Institutions Decree (BOFID). The objective of this paper is to present an overview of the regulation of the non-bank financial institutions over the years. Part One of this paper identified the relevant institutions termed non-bank financial institutions. Part Two, the new regulatory framework is reviewed. This is followed in Part Three by an appraisal …

Foreign Exchange Market In Nigeria, Ntekop T. J.

Bullion

The paper carried out an appraisal, reviewed the benefits and problems and highlighted the prospects of foreign exchange market(FEM). The foreign exchange market(FEM) became institutionalized in Nigeria following protracted economic declines. The 1970's were generally regarded as an era of oil boom in Nigeria, when oil revenue enhanced economic development. The economy became heavily dependent on crude petroleum exports as the main source of foreign exchange earnings and government revenue. In a continuous effort to revamp the economy, the government introduced the Structural Adjustment Programme (SAP) in 1986 as a short-term measure to last till 1988. The core component of …

The English Crown's Foreign Debt, 1544-1557, Wayne M. Kline

Dissertations and Theses

As background to an investigation of the crown's foreign borrowing from 1544 though 1557, this thesis examines the general fiscal situation of the mid-Tudor Commonwealth with special emphasis on the great inflation of the 16th century, the role of Antwerp in European finance, and the relationship between war and English fiscal policy. It then examines in detail the creation of the debt under Henry VIII, its development into a standard feature of state finance under Edward VI, and its liquidation under Mary. Information on England and English crown finance was drawn principally from published primary sources while information on the …

Central Bank Of Nigeria Statistical Bulletin, June 1992, Central Bank Of Nigeria

CBN Statistical Bulletin

This volume data on various aspects of Nigeria's economy, including debt and banking sub-sector, central banking, financial markets, non-bank financial institutions, system clearinghouse activities, merchant and commercial banking, and public finance statistics for the year 1999. The data on financial institutions is based on the consolidation of commercial and merchant banks' first and second schedule statutory returns, computation of liquidity ratio, cash reserve ratio, loan/deposit ratio, proportion of loans to rural borrowers and small-scale enterprises, aggregate and sectoral distribution of credits, and the structure of licensed banks loans and advances. The data on financial markets is based on the consolidation …

The Role Of Banks In Successful Implementation Of The Premier Export Processing Zone In Nigeria., C M. Anyanwu

Bullion

The establishment and promotion of Export Processing Zones (EPZs) has been identified as a potential scheme for boosting manufactured exports. A decree (No. 34 Nigerian Export Processing Zones Decree 1991) formally establishing export processing zones in Nigeria was promulgated by the Federal Government on August 9, 1991. Consequently, an area beside the port of Calabar has been chosen as the site of Nigeria’s premier EPZ and the foundation stone was laid by the President in November,1991. This paper, therefore, examines the expected roles of the banks with a view of alerting them to the challenges ahead.

Developments In The Banking And Finance Industry: Institutional Framework 1970 - Date Changes In Ownership Structure., J O. Sanusi

Bullion

This paper provides a historical review of the ownership structure of Nigerian banks from the beginning of banking activities in the country in 1894 to the present. It shows that the ownership structure has both influenced changes in the institutional and legal framework and has also been influenced by them. The paper also analysed some of the implications of the changing structure of ownership and offered some recommendations.

Reconstituting The Financial Structure: The United States, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

This is a paper originally prepared for a Conference on "‘Issues on Banking Structure and Competition in a Changing World,"held at the Hotel Ramada Renaissance, Antalya Turkey, Sept. 18-20, 1991.

The main download here is the revision dated 13 May 1992.

Also included here are:

The paper with handwritten notes;

A Preliminary version of the paper;

A handwritten copy;

Comments on the paper prepared by Deniz Gökçe;

A schedule for the Conference;

A second copy of the May revision that was on a separate computer disk in Minsky's papers.

Prices In A Capital Using Capitalist Economy Ii, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

No abstract provided.

Prices In A Financially Sophisticated Capital-Using Capitalist Economy, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Four versions of this paper were found together in MInsky's files. The main upload has no date. The supplemental upload is dated 12 May 1992. There are differences between these, particularly in the early pages. There are editorial marks on the main upload that do not seem to have ever been incorporated in a final file. One of the other files, virtually identical to the main upload, was dated March of 1992.

Economic Comparison Of Selected Processing Alternatives For Alfalfa, Dan J. Bates

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Processing alfalfa for export is of significant interest to areas like Millard County, the largest hay-producing county in Utah. In the past year there have been significant reductions in the price of hay as a result of increased supplies in the central and western United States. This thesis analyzes the benefits and costs of processing alfalfa into cubes and recompressed bales in order to enter the export market.

Costs of production were estimated through the use of enterprise budgets first for the farmer to establish the costs and returns for raising the hay, and secondly for cubing and recompressing the …

The Empirical Issue Of Smuggling: A Discussion Of Methodology, Scott Fausti

Economics Staff Paper Series (1969 - 2017)

The theoretical results attained from the literature on Illegal Transactions in International Trade suggest: 1) a positive link between the duty levied and the level of smuggling effort; 2) a nonnegative domestic relative price effect; and 3) an ambiguous social welfare effect. The theoretical results predict the generation of some type of distortion. The literature labels these distortions "disparities" and divides them into three categories: price, value, and quantity. These distortions represent the empirically measurable effects of smuggling on the domestic economy. This paper makes the proposition that the "price disparity" distortion is the variable that empirical studies should examine …

Indiana State University Financial Report 1992, Indiana State University

Financial Reports

No abstract provided.

Current Crisis Paper, Comments, Revisions, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1992, April). Federal fiscal, business, and consumer confidence data: Handwritten notes. Unpublished manuscript.

• Shaikh, A. (1992, December). Money stock measures, interest rates, and stock prices: Handwritten notes. Unpublished manuscript.

• Carter, A. L. (1986, September 23). How about a capital accumulation tax?: Newspaper clipping. The New York Times.

• Shaikh, A. (n.d.). Comments on “The current world economic crisis”: Handwritten and typed comments on manuscript. Unpublished manuscript.

• Shaikh, A. (1983, March). The current world economic crisis: Causes and implications (Draft 2): Paper. Unpublished manuscript.

• Shaikh, …

Lending Book And Profit Rate Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Brown, W. M. (1992). Bank lending to business borrowers: Interest rates and U.S. monetary policy. Westview Press (pp. 2-3).
• Shaikh, A. (n.d.). Get ch 5 in full (Handwritten notes) (p. 2).
• Shaikh, A. (n.d.). Interest movements relative to current prices, 104, not provoked (Commentary note) (p. 5).

Financial Management Theory And Practice By Prasanna Chandra , New Delhi: Tata Mcgraw Hill Publication, 1989., Mohindar N Kaur

IIMB Management Review

No abstract provided.

A Discourse On Regulation On Regulation And Supervision Of Other Financial Institutions, Obasohan O. G.

Bullion

A discourse on regulation and supervision of other financial institutions was an in-depth review of policy framework promulgated on the new Decree No. 2 1991, that empowered additional power to CBN to monitor other banks to ensuring monetary are manage head-on.

The Dynamics Of Inflation And Exchange Rate Depreciation, Elamin Hamoda Mohamed Elbasha

Archived Theses and Dissertations

No abstract provided.

The People's Bank Of Nigeria: Review And Update, J. A. Babalola

Bullion

The paper reviews the establishment of the People's Bank in Nigeria. The paper is divided into five sections, Section one gives background to the establishment of the People's Bonk in Nigeria, section two discusses the concept and operational features of the Bank, section three appraises the operations, section four looks at the likely problems the Bank may face, while Section five discuses the prospects and conclude the Paper.

Term Structure Of Interest Rates In The Singapore Asian Dollar Market, Tom K. Y. Lee, Yiu Kuen Tse

Research Collection School Of Economics

This paper investigates empirically the term structure of interest rates in the Singapore Asian Dollar Market. We consider extended versions of the ARCH-M model of Engle, Lilien, and Robins (1987). The extended models permit autocorrelation, skewness and leptokurtosis in the residuals. The robustness of the empirical tests with respect to alternative specifications of the ARCH process is examined. It turns out that there is significant time-varying term premium, and this conclusion is independent of the hypothesized ARCH model.

Indiana State University Financial Report 1991, Indiana State University

Financial Reports

No abstract provided.

Nova University 1991 Annual Report, Nova University

NSU Annual Reports

No abstract provided.

False Hopes: The United States Senate And Campaign Finance Reform 1980-1990, James Heimbach

Honors Theses

The cost of winning a seat in the United States Senate has risen dramatically over the last ten years. It has become the norm rather than the exception to spend over $1 million on a campaign. For example, in the 34 Senate races in the 1988 election, 32 campaigns spent over $1 million. Due to the necessity to raise more and more money, candidates have had to turn to alternative sources of campaign funds. Thus, the rise in campaign costs has been accompanied by a rise in the role of the political action committee (PAC). PACs are special interest groups …

Rational Choice: The Contrast Between Economics And Psychology, Vernon L. Smith

Economics Faculty Articles and Research

Rational Choice--the published record of a conference on economics and psychology--frames the issues as a contest between economic theory and the falsifying evidence from psychology. According to a third perspective, that of experimental economics, most standard theory provides a correct first approximation in predicting motivated behavior in laboratory experimental markets, but the theory is incomplete, particularly in articulating convergence processes in time and in ignoring decision cost. This view has roots in the work of Herbert Simon and Sidney Siegel, but it is not plainly represented in contemporary research in economic pyschology.

Inflation Money Credit And Inflation, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Earley, J. S., Parsons, R. J., & Thompson, F. A. (1976). Money, credit, and expenditure: A sources and uses of funds approach (The Bulletin 1976-3). New York University Graduate School of Business Administration, Center for the Study of Financial Institutions.
• Gowland, D. (1991). Money, inflation and unemployment (2nd ed.). Harvester Wheatsheaf.
• Saad-Filho, A. (n.d.). Credit money and inflation: A theoretical appraisal [Unpublished manuscript]. Department of Economics.
• Shaikh, A. (n.d.). Handwritten notes on money, credit, and expenditure [Unpublished manuscript]. Department of Economics, The New School for Social Research.
• Shaikh, A. (n.d.). Handwritten notes on money, inflation and unemployment …

Fragility And Resiliance Of The International Financial Structure: Some General Conditions And Their Applicability To Current Conditions, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Remarks prepared for a round table sponsored by the American Economic Association and the International Trade and Finance Association, Saturday, December 29, 1990.

Central Bank Of Nigeria Statistical Bulletin, December 1990, Central Bank Of Nigeria

CBN Statistical Bulletin

The Central Bank of Nigeria (CBN) is recognized for its role in collecting, collating, analyzing, and disseminating data on the Nigerian economy. It has made available as much information as possible through its regular publications such as the Monthly, Half-Year, and Annual Reports, as well as the Economic and Financial Review and the Intermediate Economic and Financial Indicators. However, the bulk of the statistics published in these documents have focused mainly on the current and irregular reporting periods. This has led to a gap in the availability of relevant statistics in the country. The first issue of the CBN Strategic …