National Incomes Policy In A Deregulated Economy: The Nigerian Perspective,
2010
Central Bank Nigeria
National Incomes Policy In A Deregulated Economy: The Nigerian Perspective, Moses K. Tule
Bullion
This paper examines the propriety of a national income policy in a deregulated economy. The literature indicates that various interest groups in the country tend to protect their narrow interests when negotiating for higher wages. Consequently, the goals of government to achieve equitable income distribution in the country with a national income policy are often at variance with the private interests. While congenial atmosphere for collective bargaining was deemed desirable for achieving effective income growth, an environment of consistently rising prices was considered an anticlimax to growth and development. Consequently, the paper opined that in a market economy, a national …
Banking Sector Crisis And Resolution Options In Nigeria,
2010
Central Bank Nigeria
Banking Sector Crisis And Resolution Options In Nigeria, U. Kama
Bullion
This paper x-rays banking sector crisis and its resolution options in Nigeria. The causes and impacts of banking crisis as well as the way forward for such crisis will also be examined. The paper is divided into six main sections. Following the introduction, Section 2 gives the conceptual/jurisdictional experience of banking crisis. Section 3 gives an overview of the structure of the Nigerian banking sector, the causes of banking crisis and its impacts on the economy, while Section 4 highlights the various banking sector resolution options and the Nigerian experience in banking sector crisis resolution. Section 5 highlights the way …
Fiscal Operations And The Efficacy Of Monetary Management In Nigeria,
2010
Central Bank Nigeria
Fiscal Operations And The Efficacy Of Monetary Management In Nigeria, A. E. Idowu
Bullion
This paper underscores the need for predictable fiscal operations at all levels of government as a means of ensuring effective and efficient monetary management in the Nigeria federation. Following the introduction, section two discusses conceptual issues and the review of literature, section three discusses government's fiscal operations and challenges to monetary management, while section four examines fiscal reform and its impact on monetary management. Section five contains suggestion on the way forward and some concluding remarks.
Funded Contributory Pension Scheme, Financial Deepening And Economic Growth: What Does The Evidence Say So Far About The Nigerian Economy?,
2010
Federal University of Technology, Akure, Ondo State, Nigeria.
Funded Contributory Pension Scheme, Financial Deepening And Economic Growth: What Does The Evidence Say So Far About The Nigerian Economy?, Victor O. Asekunowo
Bullion
The fully funded defined contributory benefit pension system was introduced in Nigeria in July, 2004 to replace the old fiscally unsustainable defined benefit (Pay-As-You-Go) pension system. The new pension scheme, coming at the heels of earlier reforms in Nigeria's financial sector, could be deemed to serve as a further boost towards savings mobilisation, increased financial instruments acquisition and economic growth. After a survey of relevant literature was conducted, secondary data on relevant macroeconomic indices in the Nigerian economy were collected. The data were descriptively analysed. The results showed that TDS (total domestic savings) increased during the post-pension reform period and …
The Challenges Of Power Supply In Enhancing Integration Processes In Ecowas Member Countries,
2010
Central Bank Nigeria
The Challenges Of Power Supply In Enhancing Integration Processes In Ecowas Member Countries, O. L. Akinboyo
Bullion
The birth of the Economic Community of West African States (ECOWAS) in 1975 as an instrument for fostering regional development and unity was also due to the limited economic coherence within the sub-region. This prompted their leaders to embrace regional integration as a central element of their development strategy. There has been increased awareness among these countries that progressive integration holds great potential for minimizing the costs of market fragmentation and thus, represents a precondition for integrating the region into the global economy. Cooperation and integration is also necessary to improve West Africa's competitiveness and position it to maximize the …
Financial Exchange Rates And International Currency Exposures,
2010
Trinity College
Financial Exchange Rates And International Currency Exposures, Philip R. Lane, Jay C. Shambaugh
Dartmouth Scholarship
In order to gain a better empirical understanding of the international financial implications of currency movements, we construct a database of international currency exposures for a large panel of countries over 1990-2004. We show that trade-weighted exchange rate indices are insufficient to understand the financial impact of currency movements and that our currency measures have high explanatory power for the valuation term in net foreign asset dynamics. Exchange rate valuation shocks are sizable, not quickly reversed, and may entail substantial wealth redistributions. Further, we show that many developing countries have substantially reduced their negative foreign currency positions over the last …
Simulation-Based Estimation Methods For Financial Time Series Models,
2010
Singapore Management University
Simulation-Based Estimation Methods For Financial Time Series Models, Jun Yu
Research Collection School Of Economics
This paper overviews some recent advances on simulation-based methods of estimating time series models and asset pricing models that are widely used in finance. The simulation based methods have proven to be particularly useful when the likelihood function and moments do not have tractable forms and hence the maximum likelihood method (MLE) and the generalized method of moments (GMM) are difficult to use. They can also be useful for improving the finite sample performance of the traditional methods when financial time series are highly persistent and when the quantity of interest is a highly nonlinear function of system parameters. The …
Monetary Policy Cooperation To Support Asian Economic Integration,
2010
Singapore Management University
Monetary Policy Cooperation To Support Asian Economic Integration, Hwee Kwan Chow, Peter Nicholas Kriz, Roberto S. Mariano, Augustine H. H. Tan
Research Collection School Of Economics
This paper considers the form of monetary policy coordination and regional exchange rate arrangement that would best support economic and financial integration in East Asia. In view of the region's economic diversity, we propose a graduated program of informal policy cooperation from weak forms of cooperation to more intensive modes of cooperation such as the adoption of common monetary policy objectives. An array of informal monetary arrangements rooted to the degree of institutional development can improve the effectiveness of both sovereign and regional institutions, and promote integration in East Asia. Drawing upon the European experience with the Exchange Rate Mechanism …
The Optimal Degree Of Reciprocity In Tariff Reduction,
2010
Singapore Management University
The Optimal Degree Of Reciprocity In Tariff Reduction, Pao Li Chang
Research Collection School Of Economics
This article clari.es the roles played by trade policy, in contrast with iceberg transport cost, in the popular setting of Melitz (2003), and characterizes the optimal reciprocal trade policy in such a setting. I show that import tariffs and iceberg transport cost are not equivalent in the strength of their trade-restricting e¤ects and their welfare implications. With all the con.icting effectsof import tari¤s on welfare considered, the optimal degree of reciprocity in multilateral tari¤ reduction turns out to be free trade.
Financial Analysis With Microsoft Excel,
2010
University of South Florida St. Petersburg
Financial Analysis With Microsoft Excel, Todd M. Shank, Timothy R. Mayes
Faculty Books
FAME explores the use of Excel as THE calculating tool for finance professionals. As students enter College with basic skills for using Excel and other software packages they need for their business courses, the materials they read must be ramped up. The book as it stands covers the main topics that students would see in a typical corporate finance course: financial statements, budgets, TVM, capital budgeting, the Market Security Line, some options materials, pro forma statements, cost of capital, equities, and debt. In the final chapter of this revision, we include a section on how students can build their own …
Credit Risk Models: An Analysis Of Default Correlation,
2010
Michigan Technological University
Credit Risk Models: An Analysis Of Default Correlation, Howard Qi, Yan Alice Xie, Sheen Liu
College of Business Publications
This paper examines one of the major problems in credit risk models widely used in the financial industry to forecast future defaults and bankruptcies. We find that even after proper calibration, a representative credit risk model can severely underestimate default correlation. We further find that a likely reason for the underestimation of default correlation is the problematic common practice in the financial industry of using observable equity correlation as a proxy for unobservable asset correlation when the model is applied to predict default correlation. However, our results show that this proxy in common practice is not valid.
Trusts Versus Corporations: An Empirical Analysis Of Competing Organizational Forms,
2010
Syracuse University
Trusts Versus Corporations: An Empirical Analysis Of Competing Organizational Forms, A. Joseph Warburton
College of Law - Faculty Scholarship
This paper studies the effects of organizational form on managerial behavior and firm performance, from an empirical perspective. Managers of trusts are subject to stricter fiduciary responsibilities than managers of corporations. This paper examines the ramifications empirically, by exploiting data generated by a change in British regulations in the 1990s that allowed mutual funds to organize as either a trust or a corporation. I find evidence that trust law is effective in curtailing opportunistic behavior, as trust managers charge significantly lower fees than their observationally equivalent corporate counterparts. Trust managers also incur lower risk. However, evidence suggests that trust managers …
An Examination Of Non-Linear Relationships Between Intellectual Property Rights Protection And Growth,
2010
Gettysburg College
An Examination Of Non-Linear Relationships Between Intellectual Property Rights Protection And Growth, Brian R. Lemak
Gettysburg Economic Review
This paper examines the possibility of a non-linear relationship existing between intellectual property rights protection (IPR) and gross domestic product (GDP) growth rates. A theoretical justification is developed for the potential existence of a non-linear relationship in terms of a quadratic relationship. This is then examined using panel data from 191 countries and taken in 5 year intervals, although the data had many missing observations. Results indicate there is statistically significant evidence that a quadratic relationship exists between IPR and GDP growth, however there are reservations about this evidence due to a dearth of observations in countries with very weak …
The Economic Impact Of The University Of Arkansas,
2010
University of Arkansas, Fayetteville
The Economic Impact Of The University Of Arkansas, Katherine A. Deck, Viktoria Riiman
Publications and Presentations
Founded in 1871, the University of Arkansas was established in the city of Fayetteville as both the state university and the major land‐grant university for Arkansas. The University of Arkansas is a flagship university for the integration of student engagement, scholarship and research, and innovation that collectively transforms lives and inspires leadership for a global society. As such, the impact of the University of Arkansas extends far beyond the transfer of knowledge from professors to students and is far reaching in social and economic terms. As leading research universities across the country engage in the process of enumerating the socio‐economic …
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010,
2010
Central Bank of Nigeria
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.
Indiana State University Financial Report 2010,
2010
Indiana State University
Indiana State University Financial Report 2010, Indiana State University
Financial Reports
No abstract provided.
Aesthetic Style As A Postructural Business Ethic,
2010
California Polytechnic State University - San Luis Obispo
Aesthetic Style As A Postructural Business Ethic, John Dobson
Finance
The article begins with a brief history of aesthetic theory. Particular attention is given to the postructuralist ‘aesthetic return’: the resurgence of interest in aesthetics as an ontological foundation for human beingin- the-world. The disordered individual-as-emergentartist- and-artifact, who is at the centre of this ‘aesthetic return’, is then translated into the ‘dis’-organization that is the firm. The firm is thus defined in terms of its primal sensory impact on the world. It invokes a myriad of aesthetic relations between its disorganized self and others: its essence resides within these relations; its power of being is determined by its ability to …
Sustainability Initiatives In East Bayside Neighborhood Portland, Maine,
2010
University of Southern Maine
Sustainability Initiatives In East Bayside Neighborhood Portland, Maine, Garvan Donegan, Henry Heyburn, Caitlyn Horose, Matt Klebes, Jennifer Riley, Damon Yakovleff, New England Environmental Finance Center
Planning
This is a bundle containing research on sustainability initiatives that could be implemented in the East Bayside neighborhood of Portland, ME. These six essays were prepared by the Spring, 2010 Sustainable Communities Class known as CPD 602 at the University of Southern Maine. The class is part of the core curriculum of the Community Planning and Development program of the Muskie School of Public Service at the university. The instructor for the class was Samuel Merrill, Ph. D. who is also director of the New England Environmental Finance Center at the University. These papers were prepared in conjunction with Alan …
Advancing Individual And Societal Development At The Community Level: Role Of Ngo Microcredit And Leadership Training,
2010
School of Business and Leadership, Dominican University of California
Advancing Individual And Societal Development At The Community Level: Role Of Ngo Microcredit And Leadership Training, Denise M. Lucy, Jayati Ghosh, Edward Kujawa
Collected Faculty Scholarship
In many countries throughout the world micro-credit loans are utilized to empower women by seeking to reduce the poverty of families and communities. Originally Non-governmental organizations’ (NGO) microcredit programs focused on funding women’s businesses. In so doing, NGOs encourage and support women’s empowerment leading to community building, as well as to advancing women’s individual gender equity. This descriptive study is based upon interviews of 100 women who participated in microcredit loan programs run by a Bangladeshi NGO, entitled, Nari Uddog Kendra (NUK). The case study examines the participation and impact of NUK’s business development and leadership training programs. The study …
Enumerating Old Themes? Berle’S Concept Of Ownership And The Historical Development Of English Company Law In Context,
2010
Seattle University School of Law
Enumerating Old Themes? Berle’S Concept Of Ownership And The Historical Development Of English Company Law In Context, Lorraine E. Talbot
Seattle University Law Review
This paper offers some tentative suggestions as to why Berle’s work has been read and interpreted so selectively in the United Kingdom. I suggest that this must be partly attributable to the historical developments in English company law that entrenched the notion of shareholder ownership claims. Specifically, unincorporated associations’ normative values—that members are owners and there is no distinction between small organizations with no share dispersal and large organizations with wide share dispersal—have a continuing influence on this entrenched notion of shareholder ownership claims. First, I provide an overview of the origins of English company law. Next, I address how …
