Growth and Development Commons^™

Financing Nigeria's Growth After The Global Economic Crisis Within The Perspective Of Vision 20:2020 And The Transformation Agenda, Babatunde Lawal

Economic and Financial Review

The paper adopts content analysis method to investigate the underlying assumptions of the pillar of growth within the framework of Nigeria Vision 20:2020 (NV20:2020) and the transformation agenda. The aim is to show how realistic the underlying assumptions are and whether or not the available structure/measures of the financial system would be sufficient to finance the Vision. The conclusion is that the present Transformation Agenda and indeed the Medium-Term Implementation Plans adequately provide for the financing of NV20:2020 if the provisions of the documents are strictly adhered to.

Financing The Real Sector For Sustainable Economic Growth In Nigeria: Performance, Challenges And Prospects, O. B. Obembe

Economic and Financial Review

This paper examines some of the challenges constraining the financial sector in stimulating sustainable growth in Nigeria. It observes that for a successful real sector financing in Nigeria, a culture of accountability and transparency in the conduct of our national affairs must be taken seriously. The quality of governance must also be improved, to ensure that the legal framework for economic activities is well strengthened, such that the protection of creditors‘ rights may not be jeopardised.

Financing Inclusive Growth In Nigeria: Challenges And Prospects, Sheriff A. Tella, Patrick I. Esenwah

Economic and Financial Review

This paper is divided into four Sections. The first is the introduction and definition of the title of the article, next is Section 2, which contains literature on theoretical construct on economic growth and development models, including Inclusive Growth (IG) model while in Section 3 we present the role of money in economic growth. Section 4 looks at models of financial inclusion and evidence of financing inclusive growth in some developing countries. In Section 5, we identified challenges and prospects for financing inclusive growth in Nigeria. Section 5 is the concluding remark where some recommendations are proposed for successful inclusive …

Finance For Growth And Policy Options For Emerging And Developing Economies: Nigeria, Wumi Olayiwola, Henry Okoduwa, Evans Osabuohien

Economic and Financial Review

This paper attempts to address the issues of the major impediments to mobilising investment funds, and the appropriate policies for achieving and guaranteeing finance for growth, by assessing the performance of financial policies of selected EMEs in mobilising financial resources for economic growth, and identifying policy options necessary for achieving finance for growth. The rest of the paper is organised as follows. Section 2 discusses the basic characteristics of emerging economies (EMEs), and Section 3 positions Nigeria among the EMEs within the context of finance for growth. Section 4 deals with challenges and constraints of Nigeria in achieving finance for …

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 …

Neither The Washington Nor Beijing Consensus: Developmental Models To Fit African Realities And Cultures, Sanusi L. Sanusi

CBN Journal of Applied Statistics (JAS)

No abstract provided.

The Urban Fabric Of The Great Plains, Andrew Becker

Department of Environmental Studies: Undergraduate Student Theses

To most Americans the Great Plains region of North America is mysterious place. There are disagreements when defining its limits, and some people just refer to it as the Midwest. The Great Plains has been a place under an ocean, a place under glaciers, and a place on fire. It was once dubbed “the Great American Desert,” but is now known for its agricultural viability. The Great Plains sparks imagination because it is so massive and was one of the final frontiers for Euro-American settlement. The Great Plains is seen as a rural place but the majority of the region’s …

Unify, Regionalize, Diversify: An Economic Development Agenda For Nevada, Mark Muro

Brookings Mountain West Publications

Nevada stands at a crossroads, yet it appears ready to remap its future.

Silver Staters sense that the current economic slump has not been just a temporary reversal but a challenge to the state’s traditional growth model—one that has revealed an economy over-dependent on consumption sectors, prone to booms and busts, and too little invested in innovation and economic diversification. And yet, for all that Nevadans have been early to recognize that the current slump will beget, in some places, innovation and renewal, and in other places erosion—and so requires action.

To that end, this report draws on an intense …

Mountains Of Injustice : Social And Environmental Justice In Appalachia, Michele Morrone, Geoffrey L. Buckley

Ohio University Press Open Access Books

Research in environmental justice reveals that low-income and minority neighborhoods in our nation’s cities are often the preferred sites for landfills, power plants, and polluting factories. Those who live in these sacrifice zones are forced to shoulder the burden of harmful environmental effects so that others can prosper. Mountains of Injustice broadens the discussion from the city to the country by focusing on the legacy of disproportionate environmental health impacts on communities in the Appalachian region, where the costs of cheap energy and cheap goods are actually quite high.

Through compelling stories and interviews with people who are fighting for …

2011 Workforce Needs Survey, Katherine A. Deck

Publications and Presentations

The Greater Northwest Arkansas Regional Economic Development Strategy identified four priority areas where the region needs to collaborate around specific goals to enhance the overall community. Regional success in Northwest Arkansas will therefore depend on the success of specific goals being achieved in the areas of Infrastructure, Regional Economic Development, Community Vitality and Educational Excellence.

The online survey was distributed to employers through the Northwest Arkansas Community College Workforce Advisory Group, local Chambers of Commerce, Human Resources Professional Groups and other avenues. The survey received 119 respondents. The following report will describe the major findings of the survey.

Brief 2: Overcoming Fragmented Governance: The Case Of Climate Change And The Mdgs, Oran R. Young

Governance and Sustainability Issue Brief Series

Fragmented governance hampers efforts to address tightly coupled challenges, like coming to grips with climate change and fulfilling the Millennium Development Goals. The way forward is to launch programmatic initiatives focusing on adaptation to climate change and the transition to a green economy that appeal to many separate bodies as win-win opportunities.

Driving The Economy Home: What Matters Most To Northeast Ohio's Economy (Dashboard Of Economic Indicators 2011), Emily Garr, Ziona Austrian, Merissa Piazza

All Maxine Goodman Levin School of Urban Affairs Publications

This report describes trends which occur between 2007 and 2010, the most recent year for which data are available. The essay distinguishes between those that take place in the “recession period” (from the peak of the economic cycle in 2007 to the start of economic recovery in 2009) and the “recovery period” (from 2009 to 2010).

Impact Of Food Inflation On Poverty In The Philippines, Tomoki Fujii

Research Collection School Of Economics

We simulate the impact of actual food price increase between June 2006 and June 2008 on poverty across different areas and whether the household’s main income source is agricultural activities. We explicitly treat heterogeneity in food price changes and the patterns of consumption and production by merging a expenditure survey dataset and a price dataset at the provincial level or lower. While the increase of head count index is larger for non-agricultural households than agricultural households, the opposite is true for the poverty gap and poverty severity measures, because poor agricultural households are particularly vulnerable to food inflation.

Street Food Policy In A Growing Economy: A Case Study Of Street Food Vendors In Hanoi’S Old Quarter, Alexandra J. Pill

Independent Study Project (ISP) Collection

Street food vending is a global phenomenon present in both the developed and developing worlds and it is increasingly evident as countries continue to modernize, urbanize, and globalize. Street food policy is interdisciplinary in nature, incorporating economic, social, cultural, and health dimensions in order to account for urban planning, food safety, and tourism development. In Vietnam, street food is rampant, and in particular, in Hanoi’s Old Quarter, street food vendors can be spotted on every street at all times of the day. This study explores the role of street food vendors in Hanoi's Old Quarter from the vendor’s perspective. Complementing …

The Deep Roots Of Vietnamese Tea: Culture, Production And Prospects For Development, Robert Wenner

Independent Study Project (ISP) Collection

Vietnam is at a critical stage in its development. If policy is properly managed the country’s future is incredibly bright as the middle class grows and standards of living continue to rise throughout the country. Agriculture will play a key role in future development as nearly 70 percent of the population participates directly in agricultural work. Each crop that is produced and exported in Vietnam will play a different and integral part in development as the face of agriculture changes with Vietnam’s increased global presence. This research looks specifically at tea production in Vietnam through the lens of agricultural development. …

When It Comes To Poverty Reduction, Less May Be More, Singapore Management University

Perspectives@SMU

It is a widely accepted belief that people should be better off as the economy expands: The greater the growth, the greater the likelihood that poverty numbers will decline. While there are many good and valid reasons to hold this to be true, exceptions exist, where the lives of the poor have improved rapidly despite slow growth, or where poverty actually increases along with strong economic growth.

Watching The Clock: Challenges For The World's Fastest Growing Economies, Singapore Management University

Perspectives@SMU

Double-digit economic growths that are set to propel it to the second biggest economy in the world, overtaking Japan, has made people see China’s rise as remarkable. So confident are the pundits that they have dubbed this to be an “Asian century” and many more are urging for the world to learn Chinese in anticipation of a new world order. But, to renowned historian Wang Gungwu, this fast-paced growth associated with China is not something that is peculiar to the Asian giant only.

Ingredients For Creating And Sustaining Growth For The Long Term, Singapore Management University

Perspectives@SMU

It is easy to explain why organisations need and want to grow. This applies not only to bottom line-oriented companies, but also non-profit entities. Just like the same way business management skills can and should be applied to public sector and not-for-profit set-ups, these organisations do seek growth too. However, while it is easy to engineer short spurts of growth one way or another, what differentiates a successful organisation from one less so, is whether this organisation can sustain growth over the long-term and achieve continuous success.

Economic Empowerment And Hiv Prevention Among Young Women And Girls In Kenya: Lessons From The Study Of Economic Empowerment Programs, Samantha Van Putten

Independent Study Project (ISP) Collection

One of the major issues facing Kenya is HIV/AIDS. With recognition by the global community that providing women with economic opportunities can help both those who are HIV positive, as well as in prevention for those who are not infected, programs combining microfinance and HIV education have started to emerge. While women in these programs 3 3 have shown preliminary signs of success, young girls did not respond as well in part due to lack of interest in the particular programs themselves. As such, this study examines two economic empowerment programs for girls and young mothers at the non-governmental organization …

Infectious Disease As A Security Threat, With Particular Application To The Migration Context, Marielena Faria

Independent Study Project (ISP) Collection

This paper analyzes the threat infectious diseases impose on global security, specifically in the migration context. Infectious diseases can threaten security through a variety of areas, and this paper aims to identify the global spread of infectious diseases through migration, international crises, humanitarian emergencies, HIV/AIDS, and emerging and re-emerging infectious diseases. This paper explores global health, security, and migration in an attempt to determine if combining these three areas can be meaningful. Generally, studies approach only two of the three areas to examine a topic, but this paper will assess and point out when combining all three fields is relevant. …

The Rise Of The Last Woman: An Analysis Of Women’S Independence In 21st Century Rajasthan, Anita C. Foster

Independent Study Project (ISP) Collection

Research assembled around women’s accessibility and accountability is most essential when considering possibilities for future development. Understanding that women of any society make grand impacts on their family and surrounding community, women’s stories must be tracked as primary considerations of the development needs and changes of any society. This research focused on 21^st century educated Rajasthani women’s aspirations, challenges and development goals. The study revealed that “the new woman” in the 21^st century is taking a new stance on self-identity and women’s independence. Conditioned with multi-facet complexities, these independent mothers and daughters are claiming their right to literacy …

Portraits Of The Land: Environmentalism And Contemporary Art In Mongolia, Sarah Morgan

Independent Study Project (ISP) Collection

Environmental concerns are globally relevant, but in Mongolia they hold special importance. Not only does Mongolia contain an unusual amount of pristine wilderness, but Mongolian history and culture are also deeply rooted in a close bond with the land. Now, increased development and globalization are placing new pressures on environmental systems. In response to these pressures, Mongolians artists are joining a national (and global) conversation about the interactions between art, environment, cultural heritage, and activism.

This study explores the sources of inspiration and motivation for these artists. Through this research, I hope to bring to light the role of the …

Pulling The Cash From Cashmere: Reviving Nepal's Pashmina, Corinne Prevot

Independent Study Project (ISP) Collection

This study is an in depth examination of the dynamics behind the Nepali Pashmina industry. Since its boom in 2000, Nepal’s once-number-one industry has faced a stagnant lull. Driven by the Nepali Pashmina Industries Association (NPIA), the industry continues to strive to overcome obstacles posed by the vagaries of globalization and changing economies worldwide. Considering the insurmountable level of capital required for the industry’s necessary industrial development to become a key competitor, perhaps, as a leading export industry, pashmina is no longer viable. This research concludes that as long as high-quality genuine Pashmina continues to be in demand, Nepali Pashmina …

This Land Is Our Land: The Ngöbe Stuggle For Land, Fran Del Rosario

Independent Study Project (ISP) Collection

Los Ngobes han estado luchando por su tierra por muchos años. En los 1500s, debido al conquista española, Los Ngobes fueron forzados a huir a otras aéreas. Hoy, ellos están luchando por su tierra contra inversión y comercialización. Su tierra es muy importante para ellos porque su manera de vivir viene directamente de su tierra. La construcción de calles adentro y alrededor de su tierra se ha afectado mucho. Entre mas abierta su tierra, mas vlnerable son ellos a contacto con el exterior. Es más difícil preservar su cultura y tradición con proyectos de desarrollo amenazando su manera de vivir …

Seaweed Farmer Education: Is It Enough To Sustain The Industry? Analyzing The Status Of Stakeholder Investment In Muungoni And Jambiani, Unguja, Erika Davis

Independent Study Project (ISP) Collection

Since Filipino researchers arrived in Zanzibar to determine the potential for cultivation of seaweed more than 20 years ago, the islands' coastal communities have relied on the resource as a main or alternative source of income. When the companies started investing at the industry’s onset, trained personnel offered farmers' education on proper farming techniques for Spinosum (Eucheuma denticulatum) and Cottonii (Kappaphycus spp.) by establishing demonstrative (demo) farms and holding seminars. Today, informal training involves experienced farmers teaching the newcomers their techniques. While demo farms remain in some villages, companies offer no extension services based on the belief that the farmers …