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Financial sector liberalization and challenges of real sector finacing in Nigeria: the World Bank perspective
No full textThis paper reviews the World Bank\u27s efforts in providing finance to the real sector with a view to creating more jobs. It provides recommendations on pro-active policy measures that the public sector authorities can undertake to address the issue
Lessons of financial sector regulatory reforms and challenges of real sector financing in Nigeria: a regional perspective
No full textThe purpose of this paper is to review both the general regulatory challenges as well as the specific issues facing Nigeria in terms of adapting to the various financial sector regulatory reforms both within the financial services industries in national and regional environment as well as coming from international regulatory norms
Capltal-labour substitutlon and banking sector peformance in Nigeria (1960- 2008)
No full textThis study exomines productivity in lhe banking sector by way ot estimating two major production functions known in the economic literature
The assymmetric effects of oil price shocks on output and prices in Nigeria using a Structural VAR model
No full textThe paper develops a structural VAR model in which the asymmetric impact of oil shocks on output and price is analyzed in a unifying model. The model is applied to Nigeria using monthly data spanning 1999:01 to 2008:12 and the empirical results shows that the impact of oil price shocks on output and prices in asymmetric in nature; with the impact of oil price decrease significantly greater than oil price increase. Also from the variance decompositions, oil price changes play a significant role in determining the variance decompositions of output and prices. The implication is that any policy that is aimed at moving the economy forward must focus on price stability in which changes in oil price play a significant role
Relationship between Inflation and Stock Market Returns: Evidence from Nigeria
No full textThe linkage between stock prices and inflation has been subjected to extensive research in the past decades and has arouse the interests of academics, researchers, practitioners and policy makers globally, particularly since the 1990s. The issue has been the apparent anomaly of the negative relationship between inflation and stock market returns as most studies in the industrialized economies have shown. This paper investigates this relationship using monthly and quarterly data of Nigeria for the period 1985 to 2008. The findings of this paper seem to suggest that stock market returns may provide an effective hedge against inflation in Nigeria
Banking sector reforms and the industrial sector: the Bank of Industry experience
No full textThe paper examines the experiences of the Bank of Industry and the industrial sector, their contributions and roles during the Nigerian banking sector reform
Microcredit financing by deposit money banks/microfinance banks and the agricultural sector development in Nigeria
No full textThis paper examines microcredit financing programmes by the deposit money banks and the microfinance banks, and how this has impacted on agricultural development in Nigeria
Stimulating real sector output through research and development: the Nigerian Institute of Palm Oil Research (NIFOR) experience
No full textThe crops for which the Nigerian Institute for Oil Palm Research has the national mandate to provide research support are oil palm, coconut, raphia palm, date palm and recently Shea. For the purpose of this paper, discussions will focus mainly on the oil palm
Capital flows and financial crises: policy issues and challenges in Nigeria
No full textExperiences of economies that have suffered from financial crises indicates that emergence of integrated financial markets and high capital mobility made possible by the increasing globalization of world economies predisposes economies, especially developing ones to the volatility of capital flows. Also, the nature and source of capital flows plays critical role in determining the impact of its surge or sudden overflow from an economy, whereas foreign portfolio investment is adjudged the most volatile. Notwithstanding no matter the nature of capital flows (flows over a medium-to-long term); they are expected to influence the monetary aggregates, especially the economy\u27s net foreign assets (NFA). inflation, real effective exchange rate, aggregate output (GDP) and possibly the domestic interest rates. Developing countries are attracting great amount of capital flows. Nigerian inclusive. With increasing capital flows, especially the Net Portfolio Investment (NPI) into the Nigerian economy and occupied with its underdeveloped nature, the economy may not be insulated from the ravaging impact of capital flows and/or sudden flight, if proactive policy measure were not design and implemented to forestall them. This paper underscores the relation between capital flows and/or sudden policy issues and challenges for Nigeria. It points out that it is more desirable for the country to adopt and pursue vigorously, appreciate and coherent policies that would respond to the increasing capital flows or sudden capital flight rather than procrastinating, probably to be enmeshed in crisis that often require every costly measures to solve. Consequently, it proffers policy measures that would forestall the impact of massive capital inflows and/or sudden capital flight from the Nigerian economy
Impact of banking sector reforms on the Nigerian capital market (Equities).
No full textFollowing the outcome of the Special Joint Examination by the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC), ten banks were indicted, out of which two were asked to recapitalize, while the Chief Executive Officers (CEOs) and Directors of the remaining eight were removed by CBN based on mismanagement and poor corporate governance. In order to protect the investors as well as prevent unprecedented dumping of the shares of the listed seven banks, two weeks of full suspension was imposed on trading of their shares on the stock market at various times. This paper attempts to determine the impact of the suspended seven banks on the banking sector shares, as well as, establish the relationship between equities total market capitalization and banking sector and non-banking sectors capitalization. Year 2010 provided the needed recovery of the stocks market with the establishment of Asset Management Corporation of Nigeria (AMCON) which will help stimulate the recovery of the financial system and ultimately, provide liquidity to the banks by buying their non-performing loans and recapitalizing the intervened banks, among other things. The paper also recommends ways of encouraging the listing of additional companies in other sectors so as to reduce the dominance of banks in the stocks market. Using data sourced from Nigerian Stock Exchange (NSE), the study adopts descriptive statistics in analyzing the data