External reserves are variously called International Reserves, Foreign Reserve or Foreign Exchange Reserves. While there are several definitions of international reserves, the most widely accepted is the one proposed by the IMF in its Balance of Payments Manual, 5th edition. It defined international reserves as consisting of official public sector foreign assets that are readily available to, and controlled by the monetary authorities for direct financing of payment imbalances, and directly r...
There is a dilemma between the current call for a private sector led economic growth process for a reduction in government participation in the Nigerian economy, and the call for government domination in the economy. Government expenditure represents an important policy instrument through which an enabling environment can be created for a greater private sector participation in the economy. However, against the background of deepening economic crises that began in the 1980s following the ...
It is key and expedient to quickly recall that, the Reveal Preference Hypothesis was given by Paul Samuelson which is a major breakthrough in the demand theory. In line with the breakthrough, it is often and highly celebrated because of its intended advantage in the derivation of the demand theory without the use of the indifference curve as in the case of the ordinal world.
The Ricardian model is a simple picture of international trade between nations ,which was created to show comparative advantage in producing goods and the gain from trade. The concept of comparative advantage was introduced by David Ricardo in 19th century. The country has comparative advantage in producing if it can produce at a lower cost than any other country .The Ricardian model has been developed on the following assumptions: · Only two countries are involved in activitie...
From the knowledge of macroeconomic model, it is overtly true that, government expenditure is one of the components of aggregate demand. Going by this, its impact cannot be easily ignored or relegated with negligence. This is simply because; no economy has ever survived with zero emphases on this variable.
The main objective of this paper is to evaluate the various empirical test of the Ricardian comparative advantage model that were put in place by different researchers to ensure its validity in reality.
The EITI is a standard for countries with oil, gas and minerals, it requires all companies extracting oil, gas and minerals to publish what they pay in taxes and royalties and the government also publish what it receives, including other key information about the sector (EITI, 2016). These mineral dependent economies generate at least 8 % of GDP and 40 % of export earnings from the mineral (Auty, 1993). The lack of accountability and efficient management of these resources has led to politica...
1.BACKGROUND OF STUDY Since its independence in 1960, Nigeria has been trying to transform its status from a third world economy to a first world economy. This has resulted to successive governments launching and implementing different economic programmes to achieve this aim ranging from the First Economic Development Plan, Second Economic Development Plan, Third Economic Development Plan, Green Revolution, Structural Adjustment Programme, Vision 2010, National Economic Empowerment and Develo...
This paper was written to define, determine and evaluate the various roles a corporate leader plays in a changing socio-economic environment and organization renewal. This paper evaluates the socio-economic environment and how it affects an organization, also the various type of corporate leadership style that would suit different level of organization renewal was reviewed, and the paper also focused on the various implications and impacts of a corporate leader’s decisions and cause of a...
The burgeoning interest on the importance of stock market inmodern economies has reinforced the growing notion that finance is paramountto economic growth and in particular the rising debate on the fledgling state ofWest African stock markets coupled with the implications for the sub-region’semerging economies which are worrisome. Hence, the paper examines the longrun and causal relationship between stock market development and WestAfrican emerging economies in a comparative context of Ghan...
Abstract The importance of globalisation in the development of the global economy has gained significant backing over the years, as long-run global projections are sustained. Without doubt, it is strappingly believed that, there is more to gain about several striking issues that are essential in the current trend towards globalisation. Consequently, this study seeks to ascertain the bi-directional relationship (if any), between globalisation and industrial production in the context of Niger...
Poverty and household expenditure patterns are like the two sides of a coin, where poverty is a state of lacks and denial; household expenditure patterns are the mirrors of households’ welfare. This study investigated the effects of some household expenditure patterns on the odds ratio of poverty adopting logit model. Study showed that about 52.25 percent of Nigeria’s populations are poor. Expenditure patterns of the households were classified into socio-economic characteristics: poverty ...
Generally, it can be argued without doubt that the engine of Nigeria economic growth lies on crude oil exploration. In this study, it is recognized that corruption was-used as an independent variable because of its substantial adverse effect on Nigerian economy. Corruption has really eaten deep into the economy of the country and that is one of the major crises that Nigeria is facing today. This study analyses the impact of crude oil export on Nigeria economy and its level of corruption. The ...
ABSTRACT Non-oil export has been an alternative way to diversify Nigerian economy so as to absorb any shocks from the international oil (crude oil) market, since revenue stability is not guaranteed from crude oil again. Therefore, the study examines the diversification to non-oil export as a panacea for checking poverty, unemployment, low revenue and economic recession through inclusive economic growt...
Calamities and other forms of hardships or difficulties happen among people, societies or nations times after times. Sometimes, the calamities, hardships or difficulties happen naturally while some other times they are caused or invited by people. People experience hard times like wars, communal, ethnic or religious clashes, famine, plague, high cost of life etc. These hard times normally cause untold hardships to people ranging from loss of lives, lost of properties, displacement and other f...