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THE EFFECT OF CRYPTO CURRENCIES ON THE VALUE OF THE NIGERIAN NAIRA

CHAPTER ONE INTRODUCTION 1.1       Background To The Study Crypto currency constitute as a subset of alternative currencies or better referred to as digital currency  is a digital asset from block chain technology which is designed to function  as a medium of exchange using cryptography to execute  transactions and to control the creation of additional units of the currency. The  evolution and advancement of economic revolution and the need to sustain ...

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A SMALL FOREIGN EXCHANGE MARKET WITH A LONG-TERM PEG

INTRODUCTION The extent of financial integration in the modern world, reflected in the magnitude and pervasiveness of financial flows, has served to intensify research on the economic functioning of foreign exchange markets. In the open economy, international financial flows will ensure that interest rate parity is maintained for assets of similar maturities, or that the interest differentials exactly reflect expectations about exchange rate changes, provided there are no frictions and ...

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A SMALL ESTIMATED EURO AREA MODEL WITH RATIONAL EXPECTATIONS AND NOMINAL RIGIDITIES

Abstract The objective of this paper is to estimate a small model of the euro area to be used as a laboratory for  evaluating  the  performance  of  alternative  monetary  policy  strategies. We start with the relationship between output and inflation and investigate the fit of the nominal wage contracting model due to Taylor (1980) and three different versions of the relative real wage contracting model proposed by Buiter and Jewitt (1981) and estimated by Fuhrer and Moore (1995a) for the United States. While Fuhrer and Moore reject the nominal contracting model and find strong evidence in favor of the relative contracting model which induces a higher degree of inflation persistence, we find  that  ...

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A RE-EVALUATION OF THE EFFECT OF HUMAN CAPITAL ACCUMULATION ON ECONOMIC GROWTH

Abstract This study is a reevaluation of the effect of human capital accumulation on economic growth using natural disasters as an instrument. The total population for the study is 200 staff of ministry of economic development, Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made economic advisers, economic analysts, senior staff and ...

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A RE-EXAMINATION OF THE DEMAND FOR MONEY IN FIJI

ABSTRACT The demand for money is at the heart of how policy should be conducted effectively. Money demand serves as a conduit in the transmission mechanism for monetary policy so the stability of the money demand function is critical if monetary policy is to have predictable effects on inflation and real output. In most developed and developing countries, policymakers have frequently questioned whether the demand for money is stable. Generally, ...

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A PROPOSED MONETARY REGIME FOR SMALL COMMODITY-EXPORTERS

ABSTRACT The question of the optimal monetary regime for small open economies is still wide open. On the one hand, the big selling points of floating exchange rates – monetary independence and accommodation of terms of trade shocks – have not lived up to their promise. On the other hand, proposals for credible institutional monetary commitments to nominal anchors have each run aground on their own peculiar shoals. Rigid pegs ...

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A NOTE ON FORECASTING EXCHANGE RATES USING A CLUSTER TECHNIQUE

Abstract In this note, we propose a cluster method as a simple predictive tool to forecast exchange rates (specifically the Japanese Yen and the British Pound against the US Dollar). The general goal in this study is two-fold. First of all, we verify whether or not we can accurately predict the exchange rate movements using the suggested method. Secondly, we use the generated sign predictions to build a simple trading ...

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A MARKET-ORIENTED STRATEGY FOR SMALL AND MEDIUM-SCALE ENTERPRISES

ABSTRACT This paper investigates the economic rationale for intervention in support of small- and medium-scale enterprises, on both theoretical and empirical grounds. It  the justification for SME interventions lies in market and institutional failures that bias the size distribution of firms, rather than on any inherent economic benefits provided by small firms. The role of the State is mainly to provide an enabling business environment that opens access to markets ...

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A FURTHER EMPIRICAL INVESTIGATION TO THE CONCEPT OF MONEY DEMAND IN NIGERIA

ABSTRACT The paper investigated the empirical relationship between broad definition of money, real income, interest rates, expected inflation and expected exchange rate and examined the constancy of this relationship in the light of economic reforms that had taken place in Nigeria since 1987. The study confirms a long-run relationship between real balances, income, interest rates, and inflation. The significance of foreign interest rate and expected exchange rate indicates the presence ...

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DEVELOPMENT COMPARATIVE APPROACH TO CAPITAL FLIGHT (1970-2002)

ABSTRACT Capital flight from developing countries represents a lost potential for economic growth and development. In the contemporary literature of development economics, there has been increasing attention to the notion of capital flight. Many analysts have attributed sluggish economic growth and persistent balance of payments deficits in most developing counties to capital flight (Ajayi, 1996). In addition, capital flight has adverse consequences for developing countries. First, the loss of capital ...

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A COMPOSITE LOGISTIC REGRESSION APPROACH FOR ORDINAL PANEL DATA REGRESSION

ABSTRACT We propose in this article a Composite Logistic Regression (CLR) approach for ordinal panel data regression. The new method transforms the original ordinal regression problem into a number of binary ones. Thereafter, the method of conditional logistic regression (Chamberlain, 1984; Wooldridge, 2001; Hsiao, 2003) can be directly applied. As a result, the new method allows the unobserved subject effects to be correlated with the observed predictors in an arbitrary ...

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A COMPARATIVE ANALYSIS OF RECENT EXPORT PERFORMANCES

ABSTRACT In the ranking of the largest economies of the world measured by their gross domestic products in terms of 1995 constant US$, China and India stood at the 19th and 20th positions in 1980 but in 2005 the ranking places them at the 7th and 12th positions respectively. Such a quantum jump of these two economies, particularly China, over two and a half decades is remarkable 1. What is ...

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ESSAYS ON OPEN ECONOMY, INFLATION AND LABOUR MARKETS

ABSTRACT In these last years there has been an increasing literature developing DSGE Open Economy Models with market imperfections and nominal rigidities. It is the so called”New Open Economy Macroeconomics”. Up to now within this class of models (and differently from what it is happening in New Keynesian closed economy models) relatively little attention has been devoted to the labor markets. The first two chapters provide two cases where relaxing ...

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AN ASSESSMENT OF GLOBALIZATION AND ECONOMIC DEVELOPMENT

1.1      Background of the study The A brief look at Nigeria today one can find out that we like fashion and everything new in Nigeria, the spirit that greeted the issue of globalization at its climax in 2000 seemed to have reduced. The word globalization also seems to have gone the internet, computerization and cyber café. Globalization as an economic concept has been viewed at differently by different academic scholars, to ...

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THE ROLES OF REVENUE MOBILIZATION IN ECONOMIC AND DEVELOPMENT

STATEMENT OF PROBLEMS The problems are as follows: Social disinterest: In contribution of the up-keeping of the government. It is said to find top functionaries of government and well placed people in the society circumvent, payment of taxes, fees, licenses etc. Economic development: This state of economic development of the society also affects revenue collection provision of enhanced infrastructures enhance ability to pay as this, gets as impetus. Within the ...

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THE EFFECT OF THRIFT AND SOCIETY ON ENHANCING MEMBERS LIVING STANDARD

BACKGROUND OF THE STUDY This research work focuses on how cooperative thrift and credit societies influence or enhance members living standard. Unlike other cooperative society, thrift and credit societies are formed with the aims of improving the standard living of their members. Thrift and credit societies started from Germany by Fredrick Wilhelm Raifferson in the year 1818, Raifferson is therefore regarded as the father of modern cooperative thrift and credit ...

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THE EFFECT OF FLUCTUATING FOREIGN EXCHANGE RATE ON NIGERIA CURRENCY

CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY The inter-bank market in foreign exchange is used for trading in foreign currencies – main vehicle for generating autonomous inflow of foreign exchange into the banking system.  La licensed banks, development banks and the central bank are active traders the market.  These banks intermediate for their corporate and individual customers that engage in international trade and investment.  The are always prepared ...

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THE IMPACT OF THE CAPITAL MARKET ON THE ECONOMIC GROWTH IN NIGERIA (1988-2011)

CHAPTER ONE INTRODUCTION 1.1     Background of Study The capital market is a highly specialized and organized financial market and indeed essential agent of economic growth and development because of its ability to facilitate and mobilize saving and investment. To a great extent, the positive relationship between capital accumulation and real economic growth has long been affirmed in economic theories (Anyanwu, 1996). Success in capital accumulation and mobilization for development varies ...

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MONETARY AND FISCAL POLICES AS EFFICIENT TOOLS FOR ECONOMIC STABILITY

1.0     INTRODUCTION 1.1     BACKGROUND OF THE STUDY: The need for the monetary and fiscal policies had always existed, though not really recognized in the banking system and in the economy at large. The increase rate of money circulation in the economy, due to the rapied growth of commerce and industry has made the monetary authorises (central Bank of Nigeria) increasingly Interested in making an effort to have money supply and ...

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