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2005

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Articles 271 - 300 of 703

Full-Text Articles in Economics

Purchasing Power Parity And Exchange Rate In Nigeria: A Regime Switching Approach., M. C. Ononugbo Jun 2005

Purchasing Power Parity And Exchange Rate In Nigeria: A Regime Switching Approach., M. C. Ononugbo

Economic and Financial Review

This study basically extends the work of Obaseki (1998) by including an additional variable to capture the impact of changes in exchange rate regime. The paper undertakes an empirical examination of the long-run co-movement in naira exchange rate and relative price levels of Nigeria and USA. The impact of the policy swap from a system of exchange rate control to a market based system (captured by a dummy variable) is investigated using an error correction model. The outcome reveals the applicability of the PPP using Nigerian data. From the analysis, the prevailing nominal exchange rate during the period closely approximates …

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Pipeline Transportation Of Petroleum Products In Nigeria: Threats, Challenges And Prospects., G. T. Arosanyin Jun 2005

Pipeline Transportation Of Petroleum Products In Nigeria: Threats, Challenges And Prospects., G. T. Arosanyin

Economic and Financial Review

Pipeline transportation as a mode is crucial for the distribution of petroleum products in Nigeria. The mode has contributed immensely to the movement of crude oil and refined products across the country and for export. The contribution of this mode is, however, under threat from natural ruptures, vandalization, and sub-optimal usage of pipelines. The constraints of other modes in the haulage of refined products over long distances provide a great challenge and opportunity for the pipeline mode to explore. For the pipeline mode to take full advantage of these opportunities, the government must expand the pipeline network, maintain properly the …

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Determinants Of Non Debt Government Expenditure In Nigeria: 1970-2003., Magnus O. Abeng Jun 2005

Determinants Of Non Debt Government Expenditure In Nigeria: 1970-2003., Magnus O. Abeng

Economic and Financial Review

This paper is an empirical attempt to situate and examine the trend in the growth and structure of non-debt government expenditure in Nigeria. The objective is to elicit the determining factors driving non-debt expenditure growth profile, and by implication the growth of gross domestic product (GDP) in Nigeria. The study found a continuous downward movement, compared with allusions of increasing size of government expenditure as measured by the expenditure to GDP ratio. Econometric analysis indicated the existence of positive relationships and high sensitivity of total non debt expenditure to population growth, gross domestic product, total revenue and political activities, but …

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Reducing Child Malnutrition: How Far Does Income Growth Take Us? By Lawrence Haddad, Harold Alderman, Simon Appleton, Lina Song And Yisehac Yohannes: A Review, Sani Bawa Jun 2005

Reducing Child Malnutrition: How Far Does Income Growth Take Us? By Lawrence Haddad, Harold Alderman, Simon Appleton, Lina Song And Yisehac Yohannes: A Review, Sani Bawa

Economic and Financial Review

This is a review of the article “Reducing Child Malnutrition: How Far Does Income Growth Take Us?” By Lawrence Haddad, Harold Alderman, Simon Appleton, Lina Song and Yisehac Yohannes which was published in the World Bank Economic Review, Vol.17, No. 1, 2003.

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Agricultural Tariffs Of Subsidies: Which Are More Important For Developing Economies? By Bernard Hockman, Francis Ng, And Marcelo Olareaga: A Review, E. U. Ukeje Jun 2005

Agricultural Tariffs Of Subsidies: Which Are More Important For Developing Economies? By Bernard Hockman, Francis Ng, And Marcelo Olareaga: A Review, E. U. Ukeje

Economic and Financial Review

This is a review of the article “Agricultural Tariffs of Subsidies: Which Are More Important for Developing Economies? By Bernard Hockman, Francis Ng, and Marcelo Olareaga which was published in the World Bank Economic Review, Vol.17, No. 2, 2004.

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Challenges Of Banking Sector Reforms And Bank Consolidation In Nigeria., Odufu I. Imala Jun 2005

Challenges Of Banking Sector Reforms And Bank Consolidation In Nigeria., Odufu I. Imala

Bullion

This paper intended to look at the number of reforms that have since been created, several of them was intended to enhance the risk management capability of both the regulated institutions and the regulators. the current reforms are part of the broader and on-going national economic reforms. This paper x-rays the challenges envisaged in their implementation. Following the introduction, section 2 examines the role of the banking system in the economy, while section 3 provides the rationale for the reforms in Nigeria. Section 4, the reform agenda is discussed with a brief on the journey so far. Section 5 identifies …

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Overview Of Electronic Payment Systems In Nigeria: Strategic And Technical Issues., Margaret J. Hilili Jun 2005

Overview Of Electronic Payment Systems In Nigeria: Strategic And Technical Issues., Margaret J. Hilili

Bullion

The objective of this paper is to provide an overview of electronic payment system as it currently exists in Nigeria, discuss the strategic and technical issues as well as the monetary policy implications of the system, with focus on the needs of consumers. The paper is structured into five sections. Following the introduction, section II discusses the motivation for electronic payment system. Section III presents an overview and development of electronic payment system in Nigeria. Section IV analyzes the various strategic and technical issues in electronic payment systems as well as the monetary policy implications, while section V highlights the …

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Banking System Consolidation In Nigeria And Some Regional Experiences: Challenges And Prospects., Y A. Bello Jun 2005

Banking System Consolidation In Nigeria And Some Regional Experiences: Challenges And Prospects., Y A. Bello

Bullion

This paper examines banking sector development in Nigeria from the Structural Adjustment era of the mid-1980s and the current reforms taking place in the financial service industry in terms of consolidation. In addition, the paper tries assess the banking system consolidation in Nigeria and the challenges and prospects expected. The paper is structured into six parts. following this introduction\, the part two discusses an overview of the banking system in Nigeria. part three reviews some regional experiences, while part four evaluates banking system consolidation in Nigeria and part five examines the challenges and prospects. while part six, summarizes and concludes …

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Public Policy And Industrialization In Nigeria., A. J. Adam Jun 2005

Public Policy And Industrialization In Nigeria., A. J. Adam

Bullion

This paper is concerned with evaluation of government policies on industrial development in Nigeria with specific reference to the effects of public policy on Nigeria's industrialization. Following an introduction is section two which examines conceptual and theoretical issues. Section three is the review of public policy in Nigeria. Section four focuses on policy evaluation and comparative analysis of experience of other countries. Section five provides the concluding remarks and recommendations. The paper observes that government has a role to play in the industrialisation process by providing infrastructures; help overcome market failures; assist develop money and capital markets; make economic information, …

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The Unintended Consequences Of Property Tax Relief, John Yinger Jun 2005

The Unintended Consequences Of Property Tax Relief, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.

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Financial Development And Financial Liberalization In Asia: Thresholds, Institutions And The Sequence Of Liberalization, Hiro Ito Jun 2005

Financial Development And Financial Liberalization In Asia: Thresholds, Institutions And The Sequence Of Liberalization, Hiro Ito

Economics Faculty Publications and Presentations

I investigate whether financial openness leads to financial development after controlling for the level of legal/institutional development, and whether trade opening is a precondition for financial opening, focusing on Asia. Utilizing a panel encompassing 87 less developed countries over the period 1980 to 2000, I find that a higher level of financial openness spurs equity market development only if a threshold level of legal development has been attained, a condition prevalent particularly among emerging market Asian countries. On the issue of sequencing, trade openness is found to be a prerequisite for successful inducement of financial development via capital account liberalization.

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Freedom, Servitude And Voluntary Labor, Michael Kevane, Jonathon Conning Jun 2005

Freedom, Servitude And Voluntary Labor, Michael Kevane, Jonathon Conning

Economics

We present an economic framework to revisit and reframe some important debates over the nature of free versus unfree labor and the economic consequences of emancipation. We use a simple general equilibrium model in which labor can be either free or coerced and where land and labor will be exchanged on markets that can be competitive or manipulated or via other non-market collusive arrangements. By working with variants of the same basic model under different assumptions about initial economy-wide factor endowments and asset ownership we can compare equilibrium distributional outcomes under different institutional and contractual arrangements including markets with free …

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Sign Tests For Dependent Observations And Bounds For Path-Dependent Options, Rustam Ibragimov, Donald J. Brown Jun 2005

Sign Tests For Dependent Observations And Bounds For Path-Dependent Options, Rustam Ibragimov, Donald J. Brown

Cowles Foundation Discussion Papers

The present paper introduces new sign tests for testing for conditionally symmetric martingale-difference assumptions as well as for testing that conditional distributions of two (arbitrary) martingale-difference sequences are the same. Our analysis is based on the results that demonstrate that randomization over zero values of three-valued random variables in a conditionally symmetric martingale-difference sequence produces a stream of i.i.d. symmetric Bernoulli random variables and thus reduces the problem of estimating the critical values of the tests to computing the quantiles or moments of Binomial or normal distributions. The same is the case for randomization over ties in sign tests for …

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Lake Hospital System: An Economic Impact Study, Robert Sadowski, Ziona Austrian Jun 2005

Lake Hospital System: An Economic Impact Study, Robert Sadowski, Ziona Austrian

All Maxine Goodman Levin School of Urban Affairs Publications

Since its establishment in 1902, Lake Hospital System (LHS) has been a community-based, not-for-profit provider of comprehensive healthcare services to the residents of Lake, eastern Cuyahoga, Geauga, and Ashtabula Counties. Today, LHS is the largest employer in Lake County, with 500 physicians and over 2,400 healthcare professionals working in seven facilities.

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Montana Nonresident Seasonal Travel Comparisons: 2004, Jim Wilton Jun 2005

Montana Nonresident Seasonal Travel Comparisons: 2004, Jim Wilton

Institute for Tourism and Recreation Research Publications

This report shows the 2004 seasonal visitation and length of stay data for nonresident travelers to Montana. It also displays average daily spending for various expenditure categories, as well as total expenditures for those categories.

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Montana Nonresident Traveler Expenditure Trends: 1994-2004, Jim Wilton Jun 2005

Montana Nonresident Traveler Expenditure Trends: 1994-2004, Jim Wilton

Institute for Tourism and Recreation Research Publications

This report shows the nonresident traveler expenditure trends for visitors of Montana from 1994-2004. It also displays the total actual expenditures and the total inflation-adjusted expenditures.

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Montana Nonresident Traveler Expenditure Profiles: 2004, Jim Wilton Jun 2005

Montana Nonresident Traveler Expenditure Profiles: 2004, Jim Wilton

Institute for Tourism and Recreation Research Publications

This report examines spending profiles of nonresident travelers to Montana. It displays the average daily expenditures by purpose of trip for different spending categories during 2004.

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Montana Nonresident Traveler Expenditures And Economic Contribution: 2004, Jim Wilton Jun 2005

Montana Nonresident Traveler Expenditures And Economic Contribution: 2004, Jim Wilton

Institute for Tourism and Recreation Research Publications

This report shows the economic contributions, expenditures, and average daily spending of nonresident visitors to Montana during 2004.

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Who Will Be State Bank Governor?, Saniyya Gauhar Jun 2005

Who Will Be State Bank Governor?, Saniyya Gauhar

Faculty Research - Newspaper and Magazine Articles

Dr. Ishrat Husain's fruitful and successful tenure as Governor of the State Bank of Pakistan will, unfortunately, be over. He has definitely been the best State Bank governor we have had in a long time, and arguably the best ever given the enormous problems that he inherited, so it would be a pity to lose him - much more work needs to be done in banking sector reform.

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Optimal Sequential Decision Architectures And The Robustness Of Hierarchies And Polyarchies, Winston T. H. Koh Jun 2005

Optimal Sequential Decision Architectures And The Robustness Of Hierarchies And Polyarchies, Winston T. H. Koh

Research Collection School Of Economics

This paper studies collective decision making in the context of a project selection model. We derive the optimal decision architecture in the presence of marginal decision costs, and investigate the circumstances under which the hierarchy and polyarchy emerge as optimal sequential architectures. Our analysis extends previous results on optimal organizational decision-making to a sequential setting, and further demonstrates the fragility of the hierarchy and polyarchy as optimal architectures.

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Jackknifing Bond Option Prices, Peter C. B. Phillips, Jun Yu Jun 2005

Jackknifing Bond Option Prices, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

Prices of interest rate derivative securities depend crucially on the mean reversion parameters of the underlying diffusions. These parameters are subject to estimation bias when standard methods are used. The estimation bias can be substantial even in very large samples and much more serious than the discretization bias, and it translates into a bias in pricing bond options and other derivative securities that is important in practical work. This article proposes a very general and computationally inexpensive method of bias reduction that is based on Quenouille's (1956; Biometrika, 43, 353-360) jackknife. We show how the method can be applied directly …

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Trade, Capital Accumulation And Structural Unemployment: An Empirical Study Of The Singapore Economy, Hiau Looi Kee, Hian Teck Hoon Jun 2005

Trade, Capital Accumulation And Structural Unemployment: An Empirical Study Of The Singapore Economy, Hiau Looi Kee, Hian Teck Hoon

Research Collection School Of Economics

This paper studies the factors responsible for the secular decline of Singapore's unemployment rate over the period 1966-2000 in an environment of low and stable inflation rates. We introduce wage bargaining and unions into a specific-factors, two-sector economy with an export sector and a non-tradable sector to obtain an endogenous natural unemployment rate. Increases in the relative export price and capital stock in the export sector are predicted to reduce structural unemployment. These hypotheses could not be rejected based on structural estimations and co-integration regressions. Empirically, capital accumulation in the export sector explains most of the decline in Singapore's unemployment …

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New Mexico Labor Market Review 05-31-2005, New Mexico Department Of Labor May 2005

New Mexico Labor Market Review 05-31-2005, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers April 2005.

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The Health Challenge In Pakistan: Prognosis And Prescription, Ishrat Husain Dr. May 2005

The Health Challenge In Pakistan: Prognosis And Prescription, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

There is a strong theoretical and empirical evidence that Economic growth causes improvements in human development which, in turn, increases economic growth. The improvement in health results in enhancement of basic capabilities that adds value to human life. The transmission to growth takes place through impact on worker productivity, through demography and through trade and investment. Health has a positive effect on poverty reduction too. Poor households are hit by major illness and fall into poverty trap. Lower earnings due to withdrawal from full time employment increases the risk of illness for the rest of the households. Risk of falling …

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Distributing Benefits Of Growth To The Majority, Ishrat Husain Dr. May 2005

Distributing Benefits Of Growth To The Majority, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The major recurring themes in the popular discussion on the economy have been shifting over the last six years. In the earlier years of the Musharraf period it was widely believed that the country was going to default on its external obligations. When this did not happen there was a loud consensus that Pakistan would not be able to comply with the stringent conditionalities of the IMF and would, sooner or later, get off the track. Since the country successfully completed the programme, the concern was raised that we had emphasized too much on macroeconomic stabilization such as large foreign …

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South Dakota Agricultural Land Values And Cash Rental Rates: 2005, Larry Janssen, Burton Plueger May 2005

South Dakota Agricultural Land Values And Cash Rental Rates: 2005, Larry Janssen, Burton Plueger

Economics Commentator (1972- 2016)

No abstract provided.

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Sharing Potential And The Potential For Sharing: Open Source Licensing As A Legal And Economic Modality For The Dissemination Of Renewable Energy Technology, Jason Wiener May 2005

Sharing Potential And The Potential For Sharing: Open Source Licensing As A Legal And Economic Modality For The Dissemination Of Renewable Energy Technology, Jason Wiener

ExpressO

No abstract provided.

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National Economy And Impact Of Foreign Aid, Ishrat Husain Dr. May 2005

National Economy And Impact Of Foreign Aid, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

OUTLINE: I. Types and Forms of Aid/Loans II. Role of Donor Agencies and their Conditionalities III. Impact of Foreign Aid on National Economic Policy IV. Current state of the Economic Policy V. Prospects and Challenges

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The Lurking Rule Against Accumulations Of Income, Robert H. Sitkoff May 2005

The Lurking Rule Against Accumulations Of Income, Robert H. Sitkoff

Law and Economics Papers

The Rule Against Perpetuities is dying an ignoble death. To attract trust business and the lawyers' fees and trustees' commissions that come with it, twenty states have abolished the Rule as applied to interests in trust. But the Rule Against Perpetuities is not the only rule of property law that bears on trust duration. Another is the rule against accumulations of income, which limits the timeframe during which a settlor may direct the trustee to accumulate and retain income in trust. For 200 years, the rule against accumulations of income has lurked in the shadow of its older and more …

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Export-Led Growth In Bangladesh: A Time Series Analysis, Hiranya K. Nath, Khawaja Mamun May 2005

Export-Led Growth In Bangladesh: A Time Series Analysis, Hiranya K. Nath, Khawaja Mamun

WCBT Faculty Publications

This article examines time series evidence to investigate the link between exports and economic growth in Bangladesh. Using quarterly data for a period from 1976 to 2003 the article finds that industrial production and exports are cointegrated. The results of an error correction model (ECM) suggest that there is a long-run unidirectional causality from exports to growth in Bangladesh.

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