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Marketing order impacts on farm-retail price spreads:the suspension of prorates on California-Arizona navel oranges by Gary D. Thompson and Charles C. Lyon in American journal of agricultural economics vol. 71, no. 3, August 1989.: a review.
No full textThe paper attempted to measure the impact of the suspension of prorate on California-Arizona (C.A.) navel oranges on the price differentials between retail and farm-gate rates. The exercise was to test the efficacy of the policy measure of volume control in an organised agricultural setting. The method used by the authors was empirical and four seemingly unrelated linear equations were specified. The paper was structured into three sections. Section one contained the history of the California-Arizona navel oranges and the events leading up to the suspension. In section two, the authors utilized four price models for estimating the variables of the· equations. Section three considered some policy implications of the model chosen to be the best fitted. The aim of this review is to highlight some of the major results of the study as well as to x-ray the methodologies employed in arriving at them
Understanding Nigeria\u27s flow of funds accounts
No full textThe describes the flow of funds system of accounts and also indicate its analytical uses including how a change in real activity has been financed, the forecasting of interest rates and the effects of economic policy changes. The major steps in the preparation of the accounts were outlined. ln particular, the author indicated that sectoring in FOF accounts is institutionally defined. Some of the basic data are available only after a considerable delay, e.g., national accounts figures, while others have to be estimated (households) leading to residual errors, Nevertheless, the flow of funds system serves as a useful instrument even of its present level of development in this country but full realisation of its potential depends on a big improvement in the collection and processing of basic data
Miscellaneous matters and prudential guidelines
No full textThe banking industry is generally considered to be more regulated thon any other sector of the economy, This is largely due to the crucial role of financial intermediations played by the operators ln the industry. The review of the bonking lows particularly in on era of deregulation should therefore be seen as on important effort to enhance the efficiency, soundness and stability of the banking system. The regulatory and supervisory authorities are committed to safe and sound banking system and would therefore ensure compliance with all laws and regulations. lt would be seen from sections 46 mentioned above and other provisions discussed by previous speakers that the CBN has power to enforce its regulations
The Role of Agro-Industries in Promoting a Food Culture in Nigeria
No full textThe paper discusses in a general way the role of agro-industries in the promotion of a Nigerian food culture. It observes that the agro-industrial and trade policies pursued in the 1970s and early 1980s contributed immensely to a food habit characterised l1y preference for foreign and imported foods. Agro-industries in the present economic environment can contribute positively to the development of a Nigerian food culture through corporate promotions, investments in the production of local foodstuffs and funding of relevant research and development. The paper concludes that agro-industries should be supported in the development of an indigenous food culture by fostering an \u27enabling ~environment for private sector investment improvement in entrepreneurial capabilities through training and providing basic research and infrastructural facilities
Statistics section
No full textThis contains the statistics of economic indices in Nigeria for year 1990
Perspectives on Medium to Long-Term Outlook for the Nigerian Economy
No full textThe Nigerian economy was in a deplorable state prior to the introduction of various policy and structural reforms in 1986. During the period of oil boom (1973-80), the production and consumption patterns in the country became import- dependent. With the collapse of oil prices in mid-1981, a foreign exchange crisis emerged. Foreign exchange earnings declined from US 7.2 billion in 1986 with adverse consequences for the economy. The balance of payments came under severe pressures, swinging from a surplus ofN2.4 billion in 1980 to a large deficit of N3.0 billion in 1982. External debt increased as external borrowing was resorted to, and unpaid trade bills accumulated. Foreign creditors were reluctant to grant further credit facilities to the economy. The resultant inability of the industrial sector to import raw materials and spare parts led to reduction in production, retrenchment of workers and rationing of scarce essential commodities. Domestic inflation and unemployment worsened. An overvalued naira exchange rate, which favoured the propensity to import, created price distortions, destroyed productive incentives and contributed largely to the decline of the agricultural sector. The Gross Domestic Product (GDP) declined persistently from 1981 through 1986 except in 1985. Fiscal imbalances in the public sector deteriorated further. The demand management policies designed to turn the economy around proved to be mere palliatives in addressing the fundamental problems facing the economy
Foreign Private Investment Survey in 1988
No full textAlthough the 1988 survey on Foreign Private Investment showed that there was an increase in the net capital inflow through the Nigerian/foreign jointly-owned companies, a closer look revealed that the 22 per cent increase in the level of the gross inflow of capital over the 1987 level was merely due to naira exchange rate depreciation of 222 per cent between December 1987 and December 1988. Net investments by alien entrepreneurs continued to be dominated by unsettled liabilities to their overseas trading partners while the relative share of equity investments was relatively small, inspite of the Structural Adjustment Programme (SAP) which raised the financial capital requirements of the companies. A relatively better performance was observed in the textiles and food products sub-sectors of the manufacturing and processing sector possibly due to their comparative advantage in integrating backward in addition, evidence of technological obsoleteness featured ,n the analysis of the fixed assets of these companies. The survey showed that the parent/affiliate enterprises, which are more interested in controlling the companies they invest in, dominate the structure of foreign shareholdings
Banks-customers relations: implications for strategic planning.
No full textThe paper examines Banks-customers relations and how it will help in strategic planning. ln dealing with this subject, the paper considered three facets. The legal relationship and the impact of the public relations and marketing aspects as they effect banking and banking business, and the implication for strategic planning
Developments in Money, Credit and Banking in the Fourth Quarter of 1990
No full textThe growth of the money stock maintained the high tempo observed since the third quarter. The acceleration was influenced by the sharp rise in foreign assets ( net) of the banking system and the increase in credit (net) to the domestic economy. Credit (net) to the government sector rose sharply while merchant banks\u27 credit to the private sector was excessive. The expansion in the number and activities of commercial and merchant banks continued into the fourth quarter. The banks\u27 assets and deposit liabilities increased substantially. The overall liquidity of the commercial banks increased while that of the merchant banks decreased slightly during the quarter
Developments in the Agricultural Sector in the Fourth Quarter of 1990
No full textGiven these positive developments, overall output of staple crops, rose at the end of the quarter, by 10.2 per cent compared with 4.9 per cent in the corresponding period of the previous year. Livestock production increased by 0.6 per cent in contrast to a decline of 0.7 per cent in the fourth quarter of 1989. However, the performance of the agricultural sector was moderated slightly by a few reports of drought and pests outbreaks in Bomo, Kano, Katsina and Sokoto States, where some field crops such as millet, sorghum and cowpeas were destroyed, while erosion and flood threatened crop production in Akwa-Ibom, Anambra, Cross-River and Imo States. These problems were tackled and some of the adverse impacts on the sector were substantially reduced