International Economics Commons^™

Fiscal And Monetary Policies For Inclusive Growth In Developing And Emerging Markets, Collins Anosike

Journal of Global Awareness

The study examined the effects of monetary and fiscal policies in attaining inclusive growth for some developing countries and emerging markets. The study selected 20 countries and grouped them into group one and group two. The study is unique because it captures a broader range of countries compared to previous studies and shows their effect on economic growth. We use panel data and employ OLS regression and Johansen cointegration. We examine how each variable, general government expenditure, gross national expenditure, total revenue, official exchange rate, broad money, and deposit interest rate, affects the dependent variable (real GDP) from 1980 to …

What Role Do Finance Ministers Play In Political Business Cycles? Evidence-Based On A New African Dataset, Christine Olivia Strong

Economics Faculty Publications

This study investigates how the personal characteristics of finance ministers influence political budget cycles in Africa. Using a new dataset covering 300 finance ministers across 23 countries from 1980 to 2020, we find that political budget cycles primarily take the form of increased government consumption during election years. Ministers with prior central banking experience are less likely to amplify spending in election years, effectively curbing political budget cycles. These results remain consistent after accounting for institutional quality, ministerial tenure, and other confounding factors. The findings contribute to the literature by showing that the appointment of finance ministers in African countries …

Leveraging Import Substitution For Economic Expansion: The Case Of Nigeria, Paul Ihuoma Oluikpe

Bullion

The objective of this paper is to describe the import substitution policies of Nigeria with a historical and analytical outlook with a view to amplifying its dimensions of impact, and recommending potential options for optimizing policy and implementation. Method The methodology adopted for this paper is descriptive and historical analysis. Comparisons were drawn from various countries policies such as Chile, Brazil, Argentina, Mexico, India, South Korea, and the Philippines and outcomes are highlighted, and then extrapolated to the Nigerian context with a view to understanding the local context in the light of peer country implementation. The results from the implementation …

Empirical Analysis Of China’S Exchange Rate And Macroeconomic Policy, Jia Ji

Dissertations, Theses, and Capstone Projects

This dissertation examines the effects of exchange rate and macroeconomic policy in China. It consists of three chapters. Chapter 1 explores the dynamics of monetary transmission mechanism. As China’s domestic financial markets deepen and develop further toward a market-based system, the country’s monetary policy transmission should continue to improve in the sense that the policy instrument’s influence on economic conditions increases in magnitude and stabilized across time. Using a short-term key interest rate as a standard monetary policy tool and time-varying parameter techniques, this study empirically demonstrates that China’s monetary policy framework is in the midst of transitioning to a …

Essays On Capital Structure Of Nations, Giovanni Perez

LSU New Orleans Theses and Dissertations

No abstract provided.

Three Essays On Fiscal Policy, Sinem Buber Singh

Dissertations, Theses, and Capstone Projects

This dissertation examines the domestic and international effects of fiscal policy shocks on country risk, stock markets returns and trading partners. There are three essays in this study.

First essay examines the relative impacts of macroeconomic, financial and political variables on country risk for five advanced economies; the US, the UK, Canada and Singapore for 1984:M1-2014:M12 and Germany for 1990:M9-2014:M12 time periods. To do so, I follow a two stage estimation procedure. In the first stage, a CAPM is used to estimate time-variant country betas which are used as a proxy for country risk by using a DCC-GARCH model. Then, …

Evaluation Of Monetary, Fiscal And External Inflationary Sources In Nigeria, Samson A. Aladejare

Journal for the Advancement of Developing Economies

This study focuses on evaluating the monetary, fiscal and external inflationary sources in Nigeria. The Auto-Regressive Distributive Lag estimation technique was adapted to capture these effects. Empirical findings of the study showed that overall, the main determining cause of inflation in both short run and long run periods in Nigeria, are more of monetary and external factors and less of fiscal sources. Specifically, the problem of inflation in Nigeria appears to be more of structural phenomenon than monetary in the short run. However, in the long run, combinations of monetary and external factors tend to be the major cause of …

The Curious Case Of Greece: The Impact Of Fiscal Policy Shocks On Key Macroeconomic Variables. A Var Based Approach., Manny Kaliontzakis

Master's Theses

For years, the Vector Autoregressive approach has been the main tool for monetary economics and macroeconomic researchers around the world. Leading central banking figures, academics, and modern economic think tanks have used the approach to determine the effects of interest rate shocks on basic macroeconomic variables such as GDP, industrial production and unemployment rate. Shocking policy variables, such as interest rates or long term bond rates have given economists the ability to run reliable forecasts. The last 20 years have seen a turn in the use of the VAR approach on fiscal policy as well. Even though, in general, previous …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria

CBN Annual Report

2010 annual report reviews the operations of the Central Bank of Nigeria (CBN) and appraises the macroeconomic policies in 2010. the report is structured into two parts. Part 1 reviews the corporate operations of the bank, while the part 2 evaluates the performance of the economy against the challenges in both the thrust of monetary policy and other financial measures was to improve liquidity and enhance the efficiency and stability of the financial system without compromising the primary goal of monetary and price stability.

Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria

CBN Annual Report

The Central Bank of Nigeria (CBN) Annual Report and Statement of Accounts for the Year Ended 31st December, 2009 revealed that the country's Gross Domestic Product (GDP) grew by 6.7% YoY, compared to 6.0% in the previous year. This growth was driven by the non-oil sector, with the non-oil GDP growth rate of 8.3%. Within the non-oil sector, the agricultural sub-sector grew by 6.2%, while the whole-sector and retail sectors recorded growth rates of 11.5 and 10.5 per cent, respectively. The robust output recorded during the previous three years was driven by the government's optimism, which reflected in the oil …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1992., Central Bank Of Nigeria

CBN Annual Report

In 1992, Nigeria's economy faced significant pressures but showed resilience, with rapid growth in output and economic liquidity. The Central Bank of Nigeria (CBN) intensified efforts to achieve inflation and exchange rate stability while improving the efficiency of the financial sector. The financial sector experienced rapid growth and structural changes, with the strongest growth occurring in common unity banking and mortgage finance institutions. Monetary and credit aggregates expanded at unprecedented rates, matching the all-time highs of the oil boom era of the mid-seventies. Interest rates rose significantly, with both deposit and lending rates rising in tandem with the movements of …

Entral Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1989, Central Bank Of Nigeria

CBN Annual Report

The Nigerian economy showed improvement in 1989 compared to 1988. Economic Growth: Gross Domestic Product (GDP) increased by 4.0%, driven by growth in agriculture and industry. The overall balance of payments moved from a deficit to a surplus, largely due to a significant increase in crude oil exports. The unemployment rate declined slightly, with more jobs created through government programs. Nigeria's external assets increased significantly, reflecting a deliberate policy to build official reserves. Inflation: Despite some improvement, inflationary pressures remained high, with domestic prices rising by 40.9%. Stagnant Manufacturing: Manufacturing production grew at a slow pace due to high production …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1986, Central Bank Of Nigeria

CBN Annual Report

CBN annual report and statement of accounts for 1986 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates for 1986. The development in 1986 were mixed. The GDP at constant 1977/78 factor cost was estimated at N25,290 million, representing a decline of 3.3 per cent and the decline was largely due to poor performance of the manufacturing, crude petroleum, wholesale and retail trade sectors. The trajectory of monetary aggregates was relatively in the download direction. Money supply indicated a 1.2 per …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1984, Central Bank Of Nigeria

CBN Annual Report

CBN annual report and statement of accounts for 1984 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates for 1984. It also examines future economic outlook. In 1984, the index of industrial production fell by 10.2 per cent significantly due to the poor performance of the manufacturing sector whose index of production fell by 18.2 per cent. In respect of domestic prices, the supply-side factors were dominant in exerting upward pressures on prices. There were acute shortages in consumer goods and …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1966, Central Bank Of Nigeria

CBN Annual Report

CBN Annual Report and Statement of Accounts for 1966 discussed the economic performance of Nigeria with emphasis on inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates. The state of the Nigerian economy in 1966 was dictated mainly by the social and political uncertainties that engulfed the country beginning in 1965. The country experienced mounting political problems in 1965, which, by the fourth quarter of that year, had become an important factor in the future investment plans of the business community. A growing burden of external debt and the slow-down …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1965, Central Bank Of Nigeria

CBN Annual Report

CBN Annual Report and Statement of Accounts for 1965 discussed the economic performance of Nigeria with emphasis on inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates. Two major developments dominated the world economic scene in 1965. One was the overall slowdown of economic expansion in most industrialized countries. The other was the overall contraction in the growth rate of world trade and in the flow of international capital. Due to the problem of balance of payment disequilibrium, the industrialized countries intensified economic measures to achieve internal stability and equilibrium …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1964, Central Bank Of Nigeria

CBN Annual Report

CBN annual report and statement of accounts for 1964 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates for 1964. Export earnings of the developing countries rose during 1964, reflecting a continuing upswing in economic activity in the industrial countries. The rate of increase, however, was somewhat slower than in 1963. The share of the developing countries in total world exports in 1964, however, amounted to 22.1 per cent as compared with 22.9 per cent in 1963. World exports rose substantially …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1963, Central Bank Of Nigeria

CBN Annual Report

CBN Annual Report and Statement of Accounts for 1963 discussed the economic performance of Nigeria with emphasis on inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates. Nigeria's economy made significant gains in 1963. The tempo of activity advanced in most sectors of the economy, giving indications of some recovery from the slackened pace of the preceding year. Despite this improvement, however, the performance of the economy did not meet expectations, nor were existing resources fully utilized. In 1962-63, gross income received by producers of agricultural export commodities rose by …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1961., Central Bank Of Nigeria

CBN Annual Report

CBN Annual Report and Statement of Accounts for 1961 discussed the economic performance of Nigeria with emphasis on inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates. Economic activity, which had been at a relatively high level during the year of independence, expanded further during 1961. The production of most of the agricultural export commodities attained high levels during the 1960-1961. Mineral production varied widely among individual products but on balance activity was considerably higher in 1961 than in the previous year. Industrial production continued to grow, reflecting both the …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Period Ended 31st December 1960, Central Bank Of Nigeria

CBN Annual Report

CBN annual report and statement of accounts for 1960 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates. The banking system was relatively well developed with increase in bank deposits to 70 million Pounds. Also, the number of bank branches increased from 44 to 200. The development indicated growth and broadening of the banking system. The domestic publicly issued debt of the Federal Government consists of 300,000 Pounds. Nigeria Government Registered Stock 1956/61 which was due to be redeemed in December …