Finance Commons^™

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2000, Central Bank Of Nigeria

CBN Annual Report

This Report reviews the operations of the Central Bank of Nigeria (CBN) and macroeconomic developments during the fiscal year 2000 and appraises the major economic policy outcomes during the period. The bank is responsible for administering the Banks and Other Financial Institutions (BOFI) Act, which aims to ensure high standards of banking practice and financial stability through surveillance activities and the promotion of an efficient payments and clearing system. The bank's major objectives for monetary policy in 2000 were outlined in the Bank's Monetary Policy Circular No. 34. Key policy targets included growth in broad money, narrow money, aggregate bank …

Preliminary Assessment Of Client Interest In And Needs Of The New England Environmental Finance Center, New England Environmental Finance Center, University Of Southern Maine

Planning

The New England Environmental Finance Center (NE/EFC) has been conceived as a knowledge-based clearinghouse, training, and change-agent program aimed at helping EPA's constituencies find financially successful approaches to environmental improvements. The NE/EFC will develop approaches to needs of particular priority in New England and potentially useful throughout the nation; share such approaches through the EFC national network; and help make tools from that network accessible throughout New England. In 1999 we began exploring with potential users how this ninth of the nation's EFCs might best address the region's needs. The assessment continued through the Muskie School's EFC proposal to EPA …

Bugs For A Bayesian Analysis Of Stochastic Volatility Models, Renate Meyer, Jun Yu

Research Collection School Of Economics

This paper reviews the general Bayesian approach to parameter estimation in stochastic volatility models with posterior computations performed by Gibbs sampling. The main purpose is to illustrate the ease with which the Bayesian stochastic volatility model can now be studied routinely via BUGS (Bayesian inference using Gibbs sampling), a recently developed, user-friendly, and freely available software package. It is an ideal software tool for the exploratory phase of model building as any modifications of a model including changes of priors and sampling error distributions are readily realized with only minor changes of the code. However, due to the single move …

Mercado Telefónico En México: Diez Años Después De La Privatización De Telmex Privatización De Telmex [The Telephone Market: 10 Years After The Privatization Of Telmex], Leonardo E. Torre Cepeda, Armando R. Lopez-Velasco

School of Economics and Finance Faculty Publications

• El sector de las telecomunicaciones en México experimentó una profunda transformación durante la década de los años noventa: el monopolio público telefónico fue privatizado (1990), se emitió una nueva ley del sector (1995), se creó un nuevo ente regulador (1996) y se abrió a la competencia el segmento de larga distancia (1997).

• El cambio estructural en el sector trajo consigo avances importantes en materia de densidad, calidad y precios de los servicios. Sin embargo, estos avances han sido insuficientes para impedir que en México sigamos contando con una baja densidad telefónica y precios elevados de los servicios, en …

Environmental Finance Charette, Hyannis Park On Lewis Bay: A Case Study, New England Environmental Finance Center, Environmental Finance Center Of University Of Maryland

Water

The town of Yarmouth currently has a $30 million septic sludge treatment plant and transport lines in place. The vast majority of the dwellings and businesses in the Hyannis Park area are on septic systems that are viable and Title 5 compliant, regardless of age. Conventional, "non-failing" septic systems, however, were never intended to remove form their effluent nutrients such as nitrogen. These have become recognized as an environmental threat only as our understanding of the impacts of excess nutrients on ecosystems has increased in recent decades.

A Comparative Analysis Of Conventional Banking System And Islamic Banking System In Malaysia In Relation To Loan Repayments, Baharin Salim Abdullah

Student Works (2000-2009)

The birth of Bank Islam Malaysia Berhad (81MB) in 1983 symbolized the Malaysian Government's initiative in establishing an Islamic banking system. After 17 years of operation in a market mainly dominated by conventional banks, 81MB has still unable to achieve its target of capturing a significant portion of th is market. In this paper, the writer tries to observe the main differences between the conventional and Islamic banking system Malaysia in relation to loan repayments. Through this observation, strengths and weaknesses of the Islamic banking system can be identified. Recommendations can be made to help enhancing BIMB's performance in achieving …

Interstate Trade And Economic Development In Nigeria., Ukwu I. Ukwu

Bullion

The economy is characterized by low industrial development, predominantly poor population and low agricultural production. The paper presents an analysis of the present size and structure of the Nigerian Domestic market, examine the patterns of trade among states and zones, and consider what needs to be done to improve the domestic trade system and enable it play its appropriate role in the overdue of transformation of the Nigerian economy. Finally, the study reveals that economic development of any state or group of states can be improved if they take advantage of economic integration. The relatively low level of economic development …

Development In The Petroleum Sub-Sector And Their Impacts On Nigerian Economy., I. P. Ojinnaka

Bullion

The development of the petroleum industry has had both negative and positive impacts on the Nigerian economy. Two schools of thought can be examined. First, that positive impacts outweigh the negative, and secondly, the inverse. The paper will examined the impacts and analyzed the positive ones. From the approach of the study it is clear that the petroleum industry has had both negative and positive impacts on the Nigerian economy. Nigeria without petroleum could be like any other country without oil or gas, that is, import dependent. However, Nigeria with oil is the best thing that could have happened to …

Interstate Cooperation And Educational Development In Nigeria., Bankole Oni

Bullion

The paper highlights on interstate cooperation and educational development in Nigeria. Education is a major instrument for economic and social development. The process of allocating resources to the sector vis-a-vis other sectors depends again on the political priorities of the decision makers. Whether or not different states, which belong to the same ideological camp, can and will cooperate in the field of education in future is not certain. The empirical analysis of existing facts have further strengthened the hypothesis that there exists a structural and cause - effect relationship between education and other aspects of the social structure. Political competition …

Monetary And Financial Sector Policies In The Year 2000 Budget Of The Fgn, M. O. Ojo

Bullion

The paper attempts to review the monetary and financial sector policies of CBN during the 2000 fiscal year. It also discussed the issues and problems of implementation of the policies. The paper observes that the Nigerian economy witnessed some anxious moments during the 1999 fiscal year. Severe Pressures built-up in the economy mainly because of the expansionary fiscal policy of the Federal Government during the first five months of the year. lf price of oil in the international market continue to rise above budget expectations and expenditure does not rise in tandem, finance is likely to constrain achievement of most …

Hedging And Nonlinear Risk Exposure, Kong Wing, Clement Chow, Udo Broll, Kit Pong Wong

Hong Kong Institute of Business Studies Working Paper Series

This paper documents some empirical evidence of nonlinear spot-futures exchange rates relationships and develops an expected utility model of an exporting firm to examines the associated economic implications. The model shows that the firm should export more (less) and adopt an over (under) hedge in an unbiased currency futures market if the spot-futures exchange rates relationship is convex (concave) rather than linear. When fairly priced currency options on futures are available, the firm should use them in conjunction with the currency futures so as to achieve better hedging against its nonlinear exchange rate risk exposure. This provides a rationale for …

A Special Address: Year 2000 Budget Policy Seminar, Phillip Asiodu

Bullion

A Special address by the Chief Economic Adviser to the President, Mr. Phillip Asiodu. The paper centered on the roles of inter agencies synergies to ensure the implementation of the Year 2000 Federal Government Budget.

Remarks On The Focus Of The Policy Seminar., Mike Kwanashie

Bullion

The remarked was delivered at a seminar on the implementation of Year 2000 budget.

The Performance Of The 1999 Federal Government Budget, An Appraisal, Edet B. Akpankpan

Bullion

The annual budget is a key instrument for implementation of Government projects, programmes and policies. This paper attempts to explain the fact that the annual budget serves three important purposes, namely; as a tool for accountability and transparency; as a tool of management, and as an instrument of economic policy. The paper conclude that Despite the macrocosmic achievement of this, Administration, basic structural imbalances persist. These include the lingering problems of import dependence, reliance on a single economic sector-oil, weak industrial base, low level of agricultural production, a weak Private sector, high external debt overhang, inefficient public utilities, low quality …

Data Generation In The Nigerian Environment: The Cbn Experience., A. A. Sere-Ejembi

Bullion

The paper examines data collection activities of the statistical services division in collaboration with its Lagos liaison office as well as the zonal research units. The paper analyzes the survey methods applied by them. The task of easing data collection should be regarded as a continuous process. This is relevant even to the most developed economies with sophisticated technology for data collection and processing. Finally, with an improvement in the literacy level and overall appreciation of the role of reliable statistics in the country, it is believed that the public would embrace data generation and availability of relevant statistics will …

External Sector Performance And The External Sector Policy Measures In The Year 2000 Federal Budget., Mike I. Obadan

Bullion

The paper briefly reviews the performance of the external sector in the first half of year 2000 and then goes on to appraise the external sector policy measures in the federal budget for the year under review. The study reveals that the The Presidential directive on government ministries, departments and agencies to-Patronise home-made goods as first choice is commendable. The paper suggests that if monitoring mechanisms are put in place, it will ensure full compliance. Private sector operators, individuals, should be encouraged to take a cue from government departments. The Year 2000 customs tariff measures largely address the concerns of …

Indiana State University Financial Report 2000, Indiana State University

Financial Reports

No abstract provided.

Marketization Through Systems Of Laws: People's Republic Of China, Maria H. Ramjerdi

Department of Economics Faculty Scholarship and Creative Works

Since 1978, the standing Committee Congress of People’s Republic of China has adopted an unprecedented number of laws improving China’s legal structure to put Democracy in the form of a system of laws with in the framework of monolithic Communist control. These legal structures enacted when the process of the Marketization stipulates such laws.

Macroeconomic Announcements, Volatility And Interrelationships: An Examination Of The Uk Bond And Stock Markets, Bradley Jones

Theses : Honours

This study covers considerable ground and touches on a range of issues in a rigorous investigation of the intraday and end-of-day behaviour of I JK stock index and interest rate futures contracts. Firstly, the paper uses S-minute data in an initial examination of the response of the Short Sterling, Long Gilt and FTSEI00 to the release of macroeconomic announcements (assisted with the application of GMM). Secondly, in an analysis of intraday patterns in returns and volatility a GARCII(I,I) framework is employed, so that further inferences are made robust to time-varying variance. Finally, the paper draws upon some of the latest …

An Empirical Analysis Of Unit Trust Performance In Singapore, Joseph H. H. Chia, Yiu Kuen Tse

Research Collection School Of Economics

The Singapore government’s recent strategic plan to develop the financial sector has placed much emphasis on the fund management industry. In this paper we examine the unit trust performance in Singapore in the 90s. Our results show that fund managers in general performed poorly in security analysis and market timing. However, they performed fairly well in risk-adjusted returns and generally maintained well-diversified portfolios. We find that there is little consistency in the performance ranking of the evaluated portfolios, although there is evidence of repeat performance of some top funds. Our analysis also shows that fund managers could indeed make excess …

The Applicability Of The Dividend-Yield Investment Strategy At The Kuala Lumpur Stock Exchange, Allan, Kim Hon. Ngam

Student Works (2000-2009)

Many theories, techniques and strategies have been developed over the years on how to outperform the stock market. The objective of this research is to apply the "Dividend-Yield" strategy on the Kuala Lumpur Stock Exchange ("KLSE") to ascertain whether using such a strategy would provide superior investment return. Research findings using this strategy on the New York Stock Exchange ("NYSE") have shown favourable results. The data used in this research were sourced primarily from the KLSE, covering a period of 10 years from 1988 to 1997. This research is based on the premise that the investment universe comprises the component …