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Unshackling the Private Sector in West Africa: Regional Integration and Macroeconomic Perspectives by Addison, E. K. Y. (West African Journal of Monetary and Economic Integration, Vol. 1, No. 2 December 2001)
No full textThe private sector is noted to be more efficient than the public sector in terms of ownership, allocation and productive efficiencies based on empirical and theoretical studies thus the objective of the paper centered on the need to explain the problems of the private sector in West Africa and how regional monetary integration could alleviate some of them. The paper is structured into five sections namely; Section one looks at the theoretical perspective of the efficiency of the private sector, Section two traced the evolution of macroeconomic policies viz-a-viz economic development in the West African Monetary Zone {WAMZ), Section three discussed the role of monetary integration in facilitating private sector development in the WAMZ, while Section four outlined the macroeconomic constraints that inhibit private sector development in the region. The paper ended with a conclusion and some recommendations
The demand for foreign currencies in Nigeria: an empirical analysis
No full textThe effective management of foreign reserves and the exchange market in Nigeria continue to pose challenges to the Central Bank of Nigeria. From inception to date and particularly after structural adjustment programme of 1986, different foreign exchange policies had been formulated not only to reduce the demand for foreign currencies, but also to enhance the supply and conserve the level of international reserves. These policies achieved varying degrees of success. Against this background, this paper utilized the effort correction framework in identifying relevant factors that impact on the demand for foreign currencies in Nigeria. The essence of our results was that the demand for foreign currency in Nigeria was a stable function in the long run of past levels of demand, the level of liquidity logged values of the real exchange rates and the premium between the autonomous and parallel exchange rates, the level of international transactions measured through the current account balance, the domestic inflation rate and the real treasury bill rates in Nigeria
Mobilization of funds for NEPAD implementation
No full textThis paper explores issues relating to the mobilization of funds for NEPAD implementation. The next section discusses the nature of the financing need; the third section explores domestic sources of funding, followed by a discussion of external funding sources in section four. Section five suggests some critical success for mobilization of funds for NE PAD and last sections concludes
What goes up by (S. Barnet and R. Ossowski, Finance and Development: Vol. 40, No. 1 March 2003): a review
No full textThis is a review of a study which identified uncertainties about the size of oil reserves, cost of extracting oil and the future path of oil prices as some of the factors that pose long run challenges for fiscal policy. Accordingly, one of the functions of government is to allocate resources (government wealth, oil inclusive) equitably and efficiently. How to do this however, poses a challenge to fiscal policy
Special Remarks: The new Partnership for Africa\u27s Development: an African renaissance?
No full textThis is a special remark by Dr. O. J. Nnanna Director of Research, Central Bank of Nigeria, to participants at the In- House Seminar Themed: The new Partnership for Africa\u27s Development: an African renaissance? for CBN Executive Staff, Asaba, October 20 - 24, 2003
The role of human resource development in the New Partnership for Africa\u27s Development (NEPAD)
No full textThe paper is divided into five parts. Following the introduction in Part I, Part 11 highlights salient features of NEPAD; Part111 examines the role of human resources development in realizing the objectives for NEPAD. Part IV discusses strategies for building capacity for NEPAD, while the final part presents the conclusion
The implication of The African Growth and opportunity Act (AGOA) on Africa\u27s economic growth and development
No full textThis paper will attempt to analyse the implications of the African Growth and Opportunity Act (AGOA) on Africa\u27s economic growth and development, as a partnership initiative. To achieve our objective, section two reviews the basis and framework for preferential trade arrangements. Section three explains the key-points of the Act while its implications for Africa\u27s development challenges are examined in section four. Section five highlights the conclusion and policy recommendations
Monetary management and the current role of Bretton Woods Institutions
No full textThe purpose of this paper is to discuss the role of the Bretton Woods Institutions (The World Bank Group and International Monetary Fund, IMF) in global monetary management with particular emphasis on the Funds relationship with Nigeria. The Bretton Woods Institutions have statutory responsibility to interact with member countries. However, this relationship has been misunderstood probably because of their perceived intrusive nature. The paper concluded that the Institutions have had important role to play in global monetary management and expected that this role will continue in the future to the extent that it is to the best interest of the world economy. This axiom is also applicable in the case of Nigeria
Informal Credit and Monetary Management in Nigeria
No full textThe objectives of this study include: examining the banking network and rural financing intermediation in an effort to unveil factors that sustain and fuel informal credit market; understanding the nature, structure and size of the informal credit markets in Nigeria; evaluating the extent of the operations of informal market with respect to sources and application of funds as well as interest rate determination; examining the impact of informal credit institutions on the efficacy of monetary management in Nigeria; and based on the findings, make appropriate policy recommendations that would minimize the distortions of informal credit market activities on monetary management in Nigeria
Keynote Address: The new Partnership for Africa\u27s Development: an African renaissance?
No full textThis is a Keynote Address by Mr. Ernest Ebi, Deputy Governor. (Policy) Central Bank of Nigeria to participants at the In- House Seminar Themed: The new Partnership for Africa\u27s Development: an African renaissance? for CBN Executive Staff, Asaba, October 20 - 24, 2003