Economics Commons^™

Contemporary Issues In The Nigerian Monetary Policy Landscape: Current Challenges And Strategic Options, Shamsideen Okunola Abiodun, Jamiu Aina Babatunde, Kingsley Imandojemu

Bullion

Contemporary central bonking in Nigeria is becoming laced with intricacies, and monetary actions impacting every segment of the society. Paradoxically, monetary policy landscape is characterized by complexities and frequent changes in the monetary environment amidst relatively constant monetary instruments. The economic recession witnessed by Nigeria from Q1 to Q4 of 2016 had reinforced the renaissance of primordial and 'nativist' models of unregulated banking arrangement cum investment options via Ponzi schemes and pyramid schemes, flexible exchange rote regime, selected import forex restrictions, calls for unconventional monetary policy with special reference to negative interest rote, central bonk communication and financial stability concern. …

Teaching Piketty To Undergraduates, Humberto Barreto

School of Business and Leadership Working Papers

The primary ideas in Piketty’s Capital should be incorporated into the economics curriculum. Unfortunately, its theoretical foundation—the Solow Model—when conventionally taught with a Solow diagram or analytical solution, is beyond the reach of the typical undergraduate. The model, however, can be effectively presented via simulation, with steady-state and comparative statics properties directly observed. A single, standalone, macro-enhanced Excel workbook, Capital.xlsm, is all that is needed to teach the main ideas in Piketty’s Capital. Download it here www.depauw.edu/learn/econexcel or from this direct link: www.depauw.edu/learn/econexcel/Capital.xlsm

The Impact Of Aid On The Economic Growth Of Developing Countries (Ldcs) In Sub-Saharan Africa, Maurice W. Phiri

Gettysburg Economic Review

Least Developed Countries (LDCs) of Sub-Saharan African have been recipients of official development assistance for more than 5 decades; however they are still characterized by chronic problems of poverty, low living standards and weak economic growth. The hot question is: Is aid effective in promoting economic growth? Thus, this paper investigates the impact of aid on the economic growth of 12 least developed countries in Sub-Saharan Africa over a period of 20 years. I take a fixed effects instrumental variable approach and the results imply that aid has a statistically insignificant negative impact on economic growth. I therefore conclude that …

Are Education And Economic Growth Related? Some Evidence From The States, R. W. Hafer

Center for Applied Economics

It seems common sense that the more educated someone is, the greater the chances that they will have relatively higher incomes. Indeed, on average someone with a college degree is more likely will have a higher lifetime stream of earnings than someone who only graduates from high school. Does this same relationship hold at the state level? Are states with better education outcomes also the states that tend to grow faster? More specifically, what does the evidence on Missouri’s educational achievement predict for the state’s economic future?

We investigate whether differences in economic growth across states are in part explainable …

Is There A Link Between Economic Freedom And State Economic Growth?, R. W. Hafer

Center for Applied Economics

Increasing the reach of government into everyday economic interactions, whether through the government as a consumer/producer or as a taker of taxes, is not likely to create an environment in which economic activity will flourish. Improving economic growth requires that individuals and firms make decisions that allow them to combine labor, capital, and technology to produce goods and services. This means that increased government intrusion into the market, onerous regulations, and lack of competition in labor markets all can hinder economic growth. The question addressed in this study is: Does Missouri’s record in promoting economic freedom help explain its lack …

Factors That Influence Economic Growth In Brics Member Countries And Oecd Developed Countries: A Panel Data Analysis, Xuran Zhang

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the factors that affect economic growth in developed nations, such as the U.S., the United Kingdom, France, Germany, Australia and others. It also includes developing countries such as Brazil, Russia, India, China and South Africa (BRICS). This study incorporates several independent variables to examine their influence on economic growth in these two groups of nations. The study looks at contributing factors for economic growth, such as life expectancy, primary education, secondary education, expected import, expected export, population growth rate, FDI level, and public expenditure, using macro-level data from two sources: the World Bank and the Organization of …

Failure Or Adjustment?: An Analysis Of The Slowing Growth Of The Chinese Economy, Kay G. Degraw

Honors Theses

With GDP growth for the 2016 fiscal year reported at 6.7%, it appears that the Chinese economy has departed from the three-decade period in which GDP growth averaged plus-10%. While both academic journals and media outlets have accredited this slowdown to a variety of factors, existing research has failed to conflate the economic and political factors into a comprehensive explanation. Consequently, this thesis examines the causative factors behind the slowing of the Chinese economy though the analysis of three contesting plausibility probes centered on the impact of corruption, statism, and structural economic change. The results of the plausibility probes indicates …

Indonesia’S Centripetal Democracy And Economic Growth, Michael T. Rock

Economics Faculty Research and Scholarship

What has been the impact of democracy on growth in Indonesia? An early view emphasized a growth and investment slowdown, but more recent data suggest otherwise. What accounts for the reversion to New Order growth and investment rates? My answer is the adoption of more centripetal and developmental democratic institutions in an otherwise messy democracy that has pushed political parties and presidents to compete for votes by promising to clean up government and restore growth.

Dynamic Effects Of Fiscal Policy On Output And Unemployment In Nigeria: An Econometric Investigation, Attahir B. Abubakar

CBN Journal of Applied Statistics (JAS)

This study investigates the effect of fiscal policy shocks on output and unemployment in Nigeria under the Keynesian framework by employing the Structural Vector Autoregression (SVAR) methodology to analyse annual series on the relevant variables for the period 1981-2015. Augmented Dickey Fuller (ADF) test for unit root result shows all variables to be integrated of order one and Johansen Cointegration test confirms the presence of long run association among the variables. Findings of the SVAR model shows shock in public expenditure as having a positive long- lasting effect on output. Revenue shock was found to exert a positive effect (lower …

Smarter Banking: Blockchain Technology In The Indian Banking System, Suparna Dhar, Indranil Bose

Asian Management Insights

Indian banks are currently experiencing poor performance when it comes to debt risk. Burdened with high non-performing loans (NPL), they are putting at risk the funds of investors as well as India’s industrial and economic growth. In addition, the loan management process itself is riddled with inefficiencies. To overcome them, we propose to use blockchain technology.

New Skills At Work: Managing Skills Challenges In Asean-5, Kim Song Tan, James T. H. Tang

Research Collection School Of Economics

The dynamic economies of Singapore, Malaysia, Thailand, Indonesia and the Philippines (ASEAN-5) boasts a growth rate of close to 5% a year despite the sluggish global economy. However, whether ASEAN-5 can grow to be significant players in the global economy will depend critically on their abilities to train workers with relevant job skills required by growth-driving industries. This challenge requires governments and employers to work together and develop coherent policies and targeted incentive structures for workers to acquire general and job-specific skills. The report Managing Skills Challenges in ASEAN-5 provides insights and recommendations on how the ASEAN-5 countries can respond …

The Challenge Of Creating An Integrated Approach To Green Growth, Randall W. Eberts

Presentations

No abstract provided.

I-69 Thumb Region Asset Mapping Of Work-Based Programs And Initiatives: Final Report, Lee Adams, Bryan Bommersbach, Brian Pittelko, Claudette Robey, Jim Robey, Bridget Timmeney

Reports

No abstract provided.

Monetary Policy And Financing Real Sector Growth In Nigeria., Moses K. Tule

Bullion

The study examines CBN's real sector financing initiatives and implication for real sector growth and economic development. Section 2 discusses selected CBN real sector financing initiatives. Section 3 is the implications of the initiatives for growth and economic management. Section 4 discusses challenges of implementing the policies while section 5 concludes the paper and presents suggestions on the way forward.

How Micro Small And Medium Enterprises (Msmes) Can Leverage On Central Bank Of Nigeria's Real Sector Initiatives, Paul Nduka Eluhaiwe

Bullion

This paper seeks to explore how MSMES can leverage on financing interventions of the CBN with a view to enabling them grow their businesses, employ more Nigerians and contribute to GDP.

The Place Of Collateral Registry In Credit Delivery Services, Muhammad Mainasara

Bullion

Micro, small and medium enterprises (MSMEs) are the main engines of economic growth. The sub-sector constitutes on integral part of the economy, providing products and services to Nigeria's teeming population, yet they are grossly underfunded. The huge financing gap, which characterized the MSMES, inhibits their development, thus having a telling effect on the economy.

Macroeconomic Stability And The Role Of Financial Institutions In Promoting Financial Inclusion In Nigeria, Mbutor O. Mbutor, Ibrahim A. Uba

Bullion

This article discusses the role of financial institutions in promoting financial inclusion in Nigeria as well as its macroeconomic stability. Positive growth of the economy is prerequisite for financial inclusion but the stability of the economy is sine qua non for economic growth. Therefore, the discussion of financial inclusion is best served when enclosed in the framework of the extent to which the economy is stable. The article further highlights financial inclusion and its related concepts and the role of financial institutions in promoting financial inclusion.

Real Exchange Rate Misalignment And Economic Growth In Nigeria (1960-2011), Waheed O. Ibrahim

CBN Journal of Applied Statistics (JAS)

This paper examines the impact of real effective exchange rate misalignment on economic growth in Nigeria using an annual data spanning 1960 to 2011. The augmented growth model was estimated using purchasing power parity (PPP) and generalized method of moment (GMM) approaches. Through series of iterative processes, it was observed that it will take four years for the exchange rate to revert back to equilibrium. The result from the PPP approach shows that the period of flexible exchange rate regime is characterized by a relatively lower real exchange rate misalignment over time compared with the fixed exchange rate regime. The …

Labor Market Analysis Of The Kenosha, Wisconsin Region, Bryan Bommersbach, Don Edgerly, George A. Erickcek, Brian Pittelko, Claudette Robey, Jim Robey, Bridget Timmeney

Reports

No abstract provided.

Economic Impact Of North Central Michigan College, George Erickcek, Brian Pittelko

Reports

No abstract provided.

Does Governance Matter To Economic Growth? Evidence From Mena Countries, Hamid Lahouij

2016 Awards for Excellence in Student Research and Creative Activity - Documents

This research paper uses panel data for the time period 2002-2013 to investigate the impacts of governance and other economic growth determinants on economic growth of some selected oil-importing MENA countries. This paper contributes to the literature on governance, economic development indicators, and economic development in novel ways. The research finds that governance is strongly associated with the economic development. However, the results of this research might conflict with others’ results if their research combines oil-exporting and oilimporting countries in their sample or use different methodologies. Therefore, the policy recommendations should be used cautiously.

Is The Discovery Of Oil A Curse Or A Blessing To Nigeria?, Ahmed S. Saidu, Saidu B. Aliyu, Umar A. Zubair

Bullion

The discovery of oil in commercial quantity in Oloibiri in Niger Delta in 1955 opened a new chapter in the economic landscape of Nigeria. Before the discovery of oil resources, agriculture was the main source of government revenue. Over the years however, revenue from oil export become the backbone of the economy. The annual budget, which defines economic direction the country charts, is solely based on crude oil revenue. This situation can be likened to one putting his eggs in one basket. And it is exactly this situation that has become the major source of agitation by oil producing areas …

Economic Growth, Poverty And Income Inequality Matrix In Nigeria: A Further Investigation, H.O. Okafor

Economic and Financial Review

This paper examined the existing relationship among economic growth, poverty and income inequality in Nigeria. Using the Vector Auto-regressive (VAR) model and the Engle-Granger technique to test for the causality existing among the variables, the results revealed that economic growth had no impact on poverty reduction and income distribution in Nigeria due its non-inclusive nature. There was, however, evidence of a unidirectional causality, running from income inequality to increased poverty. This implied that inequality would lead to increase in poverty in Nigeria. Therefore, the paper recommended that govemment should develop stronger economic institutions that ore capable of reorganising the productive …

Contributions To The Committee On The Future Economy, Singapore Management University

Research Collection School Of Economics

In response to the call to contribute to the dialogue initiated by the Committee on The Future Economy (CFE), SMU has held a series of engagement sessions with faculty and staff to brainstorm and propose recommendations to add to the government’s deliberations on strategies for the next stage of Singapore’s economic growth. Through the leadership of SMU Provost, Professor Lily Kong, faculty and senior staff produced various recommendations on five key areas namely Corporate Capabilities and Innovation, Future Growth Industries & Markets, Future of Connectivity, Future City and Future Jobs and Skills.

Impact Of Exchange Rate Regimes On Economic Growth, Brigitta Jakob

Undergraduate Economic Review

It has been a challenge to identify a direct correlation between exchange rate regimes and economic growth. One of the most important issues left unanswered in international finance is the debates over which type of exchange rate can best stimulate economic growth.

The main hypothesis of this research is that fixed exchange rate regime will have positive correlation with GDP growth due to the stability factor it has to offer. Control variables used in this study include inflation rate, gross capital formation (%GDP), index of government spending, and index of human capital per person. After observing the data from 74 …

Exploring The Budget Deficit-Economic Growth Nexus: New Evidence From Ghana, Kojo Oppong Nkrumah, Emmanuel Orkoh, Augustine Mensah Owusu

Journal for the Advancement of Developing Economies

In this paper, we combine Autoregressive Distributed Lag (ARDL) approach with trend analysis to assess the relationship between Ghana’s budget deficit and economic growth from 2000 to 2015 using quarterly data. The trend analysis reveals that since 2000, years of high budget deficit were usually followed by years of low economic growth and vice versa. This phenomenon was pronounced in 2009, when the Gross Domestic Product (GDP) growth rate fell from 7.3 percent in 2008 to 4 percent in 2009, following an increase in the budget deficit from 8 percent in 2007 to 11.5 percent in 2008. The same phenomenon …

Keynote Address On Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Central Bank Of Nigeria Executive Seminar, G.I. Emefiele

Economic and Financial Review

This is a keynote address delivered by the Governor of Central Bank of Nigeria at the 2016 executive seminar with the theme "financing government programmes in economic downturn - the role of central bank of Nigeria

Non-Oil Exports, Economic Growth And Macroeconomic Stability, T.A. Oyejide

Economic and Financial Review

The author discussed the role of non-oil exports in the structural transformation and sectoral diversification processes which are inherently associated with sustainable growth and development outcomes as well as the focus of the analysis shifts to an examination of the role of non-oil exports in promoting economic growth and development.

Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs

Economic and Financial Review

This author examines the various policy options for the manufacturing sector of the economy in an economic downturn.

The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi

Economic and Financial Review

The author examine both the traditional and developmental roles central banks plays in financing government programmes/projects.