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Bautista, R.M. Agricultural Growth as a Development Strategy. Economic Impact No. 66 PP. 24-28 1989
No full textIn this paper, the author attempts a further exposition on the on-going debate on the feasibility of adoption of an export-led strategy of economic development which considers Agriculture- first as the engine of growth. The au~or strongly supports an agricultural-based development strategy because it is capable of generating mass employment, it is anti-poverty as well as being an hl.come redistribution programme. This strategy, he reasons, should be particularly appealing to countries with a heavy debt service burden since it is a foreign-exchange conserving programme given the lowerimporrrequirements of agricultural growth and itslinka,geeffectscompared with those of industry-led import substitution strategy. He traces the choice of an alternative strategy among most developing· countries to the fact that before independence, the economies of most of them were closely integrated with those of the colonizing countries. Thus at independence, the desire to radically break away from tli.e past led perhaps inevitably to an _industrialisation strategy based, at least initially, on import substitution . Consumer goods industries had to cope with poor quality and high cost of raw material inputs making them uncompetitive in world markets. There were also problems of employment and underemployment and of income inequality owing to the low labour absorption in their domestic economies
Human development report 1990 United Nations development programme (UNDP) New York Oxfort University press, 1990.
No full textThe report looks at the state.of human development in the world (focusing mostly on developing countries), examines some of the approaches adopted to achieve human development and offers some suggestions as to how the generally low level of human development in developing countries can be improved given the present world economic situation
The National Economic Reconstruction Fund (NERFUND): achievements, constraints and prospects.
No full textThis paper reviews and appraises the National Economic Reconstruction Fund (NERFUND), which is one of the specialized financing facilities for promoting small and medium scale enterprises (SMEs). The study notes that given the importance of SEMs in the industrialization process, particularly in the areas of employment generation and development of indigenous technology, evaluating the effectiveness of the scheme is of major interest especially to inform policy analysis and choices. The paper examines the objectives of operational modalities of NERFUND, analyses the implementation problems of the scheme and assesses the achievements so far and the prospects of the scheme
Clearance and settlement system in the world securities market by group of thirty, of New York and London, copy right, March, 1989, group of thirty, New York/London: a review.
No full textThe article focuses on the clearance and settlements system in the worlds\u27 securities markets and proffers recommendations aimed at facilitating securities trading internationally. It is the report of the study carried out by the Group of Thirty- a private sector group concerned with improving the working and efficiency of the international financial system especially the operation of the world securities market. Largely the outcome of a symposium organised by the group in March 1989, it discusses the state of clearance and settlement practices in the world\u27s major securities markets. The piece reflects an in-depth understanding of the risks and problems which confront participants in the securities market in the absence of an efficient clearing and settlement system. The report is divided into two parts. Part one comprises the recommendations, while part two presents the working papers of the working Committee
Citrin, Daniel: Agricultural Policies in Japan and their Economic Consequences . World Economic and Financial Surveys, IMF Staff Studies, September, 1990, pp. 53 - 63.
No full textThe 11-page paper reviews the main policies that have been applied to support Japanese agriculture, the costs as well as· the benefits. The rice crop is accorded pre-eminence because of its importance in the country\u27s agriculture
The relation of CBN with other banks under the new CBN Decree No 24
No full textThis paper examines the work of Central Bank of Nigeria Decree No. 24 with relation with other financial institution. The study provided a window of assessment on some of functions of the bank, with a view to proffer a seamless solution to some of the impediments
Foreign Private Investment in Nigeria in 1989
No full textAlthough the report of the 1989 survey showed that for the first time ever, a net outflow was recorded by the foreign private enterprises in Nigeria, the development was a welcome one. The easier access to foreign . exchange which led to a net capital outflow of N439.4 million was made possible through the creation of new outlets for the purchase of foreign exchange introduced in 1989. The Bureau de Change which took off in mid -1989 was put in place by the federal government to compete with the informal parallel market and thus expand the foreign exchange market. Also, 1989 witn~sed the year when investors were given an opportunity to trade in long term debt instruments through the Debt Conversion Auction geared towards financing investment within the country. In addition to th;se bold steps, a unified exchange rate system (which emerged through the fusion of the auction foreign exchange market and the autonomous market rates) put greater confidence into the foreign exchange management operations. These reforms accounted in no small way to the substantial outflow of the \u27pent-up\u27 liabilities of the foreign investors in Nigeria. Since the freedom to remit profits and dividends and to repatriate capital is an essential element in an attractive investment climate, the foreign investors reciprocated the gesture of the foreign exchange reforms by increasing the equity base of the existing enterprises as well as investing iri new businesses. Thus, the level of new foreign equity which was N287.0 million in 1988 stood at N525.0 million in 1989. This was made possible through the newly created Industrial Development Coordinating Committee (IDCC) -a regulatory body aimed at streamlining the approval processes of new foreign investments. The survey equally revealed the increased investment in fixed assets of foreign enterprises in the country, while at the same time exposed the continued interest of these companies in channeling their investment through their parent/affiliate companies alone
The role of the banking system in the management of the economy
No full textThe objective of this paper is to examine and highlight the role of the banking system in the management of the economy, bearing in mind the lead role which financial capital plays in the development process. The paper is thus divided into three parts. Part I describes the evolution and growth of the banking system within the overall financial system. Part ll focuses on the role of the banking system in economic management while Part lll provides the summary and conclusion
A general review of Banks and Other Financial Institutions Decree No 25 of 1991
No full textThis paper examines the activities of the Central Bank of Nigeria in relation to assigned function, duties and responsibilities to other financial Institution. it also evaluates legal responsibility of the board and it advisory role to ensuring monetary policy are checks
A discourse on regulation on regulation and supervision of other financial institutions
No full textA discourse on regulation and supervision of other financial institutions was an in-depth review of policy framework promulgated on the new Decree No. 2 1991, that empowered additional power to CBN to monitor other banks to ensuring monetary are manage head-on