3 research outputs found
Inflation Targeting Framework for Monetary Policy in Nigeria: Issues, Problems And Prospects.
Get PDFOver the years, Nigeria has adopted different monetary policy regimes with limited or no success. These ranged from exchange rate targeting, direct monetary controls to monetary targeting. The overall objectives of monetary policy have been the maintenance of macroeconomic stability and non-inflationary growth. In line with the global trend, Nigeria navigated towards adoption of Inflation Targeting monetary framework. But recent policy indication shows that the Central Bank of Nigeria (CBN) may have soft-pedaled in the pursuit of full-fledged Inflation Targeting for the country. This paper attempted to critically analyze the basic issues, problems and prospects germane to the adoption of Inflation Targeting as a monetary policy framework for Nigeria. To do this, the paper examined the basic features and performances of inflation targeting countries globally, adduced that Inflation Targeting is not “a cure-all medicine” and that it may not significantly reduce the real costs of disinflation in Nigeria in terms of a decline in output and an increase in unemployment. For Nigeria, the extent of the success of Inflation Targeting, if and when adopted, will crucially depend on the availability of executive capacity, quality and timely data and the political will and commitment to the success of the programme on the part of monetary authorities. KEY WORDS: Inflation Targeting, Policy consistency, monetary authoritie
EFFECTS OF PRICE AND EXCHANGE RATE FLUCTUATIONS ON AGRICULTURAL EXPORTS IN NIGERIA
Get PDFABSTRACT The study focused on the effects of price and exchange rate fluctuations on Agricultural exports (cocoa
Population Growth and Economic Growth Performance in Nigeria (1981 – 2014)
Get PDFAbstract. There has been intense debate in the literature on the role of population growth in economic growth performance. Some scholars believe that increases in the population of a nation tantamount to economic progress, others see population increase as a curse rather than a blessing, but a few scholars also believe that population assumes a neutral position in economic growth process. This paper therefore sought to assess the role of population growth in economic growth performance in Nigeria. The study employed time series data for the period 1981-2013. Using Augmented Cobb-Douglass Production Function (gleaning from Solow Growth Model), and relying on error correction modelling framework, the econometric results established the fact that population growth has the potentials of fostering economic growth in Nigeria, but underlined the fact that this and other benefits would depend on, not only the chunk of the entire population that is active, but the quality of the population. Amongst other policy options suggested, it was advocated that policy measures that will foster target-oriented and skill-enhancing education and training should be designed and implemented. Provision of accessible and affordable healthcare for a healthy population was also advocated if Nigeria’s population growth must be advantageous.Keywords. Population Growth, Economic Growth, Human Capital Development, Cointegration, ECM.JEL. C32, H5, N3
