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Telecommunication and Nigeria\u27s economic development: challenges, prospects and policy suggestions
No full textEfficient telecommunications sine qua non with national integration: speedy business transaction; and economic growth and development. However, after a century of telecommunications existence in the country, teledensity was still grossly inadequate at 1 :281 in year 2000, in contrast to the International Telecommunications Union\u27s (ITU) 1: 100 standard. This was traceable to equipment obsolescence, among others. Recent developments such as the launching of the Global System of Mobile (GSM) telecommunications and the proposed privatization of NITEL are therefore welcomed. Furthermore, to realize the full potentials of telecommunications service in tlte Nigeria economy, both the traditional terrestrial line system and the GSM should be integrated for enhanced efficiency. Finally, policy measures recommended included: creating a level playing ground for operators, enthronement of robust surveillance process; integration into the global telephony system; paying special attention to rural areas; and purposeful development of human capacity and other ancillary services especially electricity supply through the national grid
Dynamic gains from trade: evidence from South Africa (Gunnar Jonsson and Arvind Subramanian): a review.
No full textThe specific objective of the paper was to examine the empirical relationship between trade and total factor productivity (TFP) in South Africa, with the hypothesis that enhanced trade in recent years had improved efficiency in the South African economy. The authors believed that the study would be important from a policy perspective, as trade liberalization constituted an important element in the government\u27s effort to boost the underlying supply capacity of the economy. The outcome was also expected to reveal if the South African experience differed from that of other countries
A strategy for development (2001) World Bank Annual Conference on Development Economics Review
No full textThis is a review of “A Strategy for Development†presented by Nicholas Stern at the World Bank Annual Conference on Development Economics in 2001. Stern, details a strategy for development that draws on several perspectives. He puts forward two pillars as the basis for this strategy: building an investment climate that facilitates investment and growth and empowering poor people to participate in that growth. He surmises that both elements are crucial for fighting poverty. This is an important contribution to the debate on development and brings to it refreshing insights into what must be done to accelerate development
International convergence in supervision and regulation
No full textThis paper examined the role of supervision and regulation in the financial system in any economy which helps in promoting growth and development. It also considers the driving force behind international convergence in supervision and regulation and areas of common interest to supervisors and regulators as well as the international agencies that have come into existence to address them. Furthermore, section four focuses on the major international standards and codes that have been agreed upon and are being implemented by the different regulatory/supervisory jurisdictions worldwide. Section five discusses the emergence of regional groupings, with emphasis on the African continent, and the key areas for the achievement of harmonization in supervision and regulation
Civil liberties, democracy and the performance of government projects Review
No full textThe paper examined the link between government project efficacy and governance and found that there existed a strong empirical link between civil liberties and the performance projects. Greater efficacies in government business were traceable to increasing citizen voice, public accountability and better participation in governance. Governance was defined as the manner in which power is exercised in the management of a country\u27s economic and social resources for development , which was not quantified
Banking supervision under West African Monetary Zone
No full textThe paper examined conceptual issues and objectives of banking regulation and supervision and the basic approaches to banking regulation in the West African Monetary Zone (WAMZ). It also discusses the supervisory structures and a review of banking supervision in the first monetary zone in West Africa and the euro zone
The challenges of monetary union: gains and opportunities
No full textThis paper examines the challenges of monetary union in ECOWAS and highlighted the potential gains and opportunities of monetary integration
The challenges of monetary union: risks and pitfalls and how to respond to them
No full textThe purpose of this paper is to x-ray the challenges of monetary union with a focus on the risks and pitfalls and how to respond to them, paying particular attention to their relevance to the proposed second monetary union in West Africa. To accomplish this task, the rest of the paper has been divided into four sections. In section II define a monetary union and briefly review its main features/characteristics and the rationale for forming a monetary union. It also examine the benefi ts and costs of monetary union, as has been espoused in the vast literature on economic and monetary integration in the world economy in section Ill
Monetary policy and exchange rate stability in Nigeria
No full textThis paper examines the interplay between monetary policy and exchange rate regime in an import dependent economy. It is organised as follows; section II discusses the theoretical issues in monetary policy and exchange rates. In section III a review and appraisal of monetary and exchange rate policies in Nigeria from inception is presented. An empirical analysis, using the VAR modeling technique, evaluates the main determinants of exchange rate stability in Nigeria in section IV, while section V discusses the limits of monetary policy. Section VI concludes the paper
The macroeconomic effects of higher oil prices, IMF Working Paper WP/01/14 By Benjamin Hunt, Peter Isard and Douglas Laxton: a review.
No full textThe objective of the article was to use the IMF\u27s multi-country model, MULTIMOD, to analyze the macroeconomic effects of oil prices shocks, with particular focus on the implications to economic activity and inflation in the industrial countries. The authors believed that the MULTIMOD simulations could shed more light on the basic issues that have dominated empirical enquiry on oil price increases, as well as provide some perspectives on the key channels of transmission and the implications for monetary policy. This review examines the main issues discussed in the paper