National Savings and Economic Growth in Nigeria (1970-2007)

National Savings and Economic Growth in Nigeria (1970-2007)

Theoretical Literature

There are numerous theoretical evidence concerning the functional relationship between savings that savings and economic growth. Juster and Taylor (1975)  came up with the finding that saving is an increasing function of income and Modigliani (1970), Madison (1992), Bosworth (1993)carol and Weil  (1993), Schmidst-Hebbel, Sawen and Solimano (1994) and Edwards (1995) all had a consensus that the level of saving is largely determined by the income level. [Read more…]

Economic Dependency and Third World under Development. Nigerian Experience.

Economic Dependency and Third World under Development. Nigerian Experience.

Introduction

Economic dependency is the lack of capacity and ability to control the economic system or productive process of a society such that the society as a state depends on foreign developed economy states for leadership and control through regulations and some economic institution. The country that are depending on the rest are mostly poor countries of the third world, Nigeria is a typical poor third world country and underdeveloped that depend on the western world for decision and implementation of economic policies , thereby contributing to the economic development of the west to  her own detriment. [Read more…]

Cbn’s Cashless Policy on the Development of the Banking Sector of Nigeria

The Impact of the Cbn’s Cashless Policy on the Development of the Banking Sector of Nigeria

Literature Review

2.0. Introduction

This chapter deals with the review of relevant literatures on the research topic. The review of related literatures is broken into conceptual review, theoretical review and methodological/ empirical review. The reason for breaking down the outline is to provide an elaborate approach to the research topic. [Read more…]

Commercial Bank Credit and Agricultural Output in Nigeria

Commercial Bank Credit and Agricultural Output in Nigeria: (1982-2007)

Review of Related Literature

Agriculture in Nigeria is the most dominant sector and major source of livelihood for the majority of the population. It accounts for about 70% of employment, and in spite of this Binswanger, et al (1999):23) say it has not been able to achieve the major objectives of agricultural development which the World Bank (1997) identified to include; (I) increase in food production and farm income, (ii) make household food, water and energy secure and (iii) restore and maintain the natural resources. They stated further that the failure of agriculture to meet these objectives is due to limited use of purchased inputs and mechanization. [Read more…]

Effects of debt burden reduction on the Nigerian economic growth

Effects of debt burden reduction on the Nigerian economic growth. 1980-2012

Introduction

  • Background to the Study

It should be noted that the act of borrowing creates debt in any nation of the world. Debt, therefore, refers to the resources of money in use in an organization which is not contributed by its owners and does not in any other way belong to them (Were, 2001). It is a liability represented by a financial instrument of other formal equivalent. When a government borrows, the debts is a public debt, debts are incurred by government through borrowing in the domestic and international markets to finance domestic investment. [Read more…]

The Determinants of Balance of Payment in Nigeria

The Determinants of Balance of Payment in Nigeria (1983 – 2007)

Literature Review

2.1     Theoretical Literature

Balance of payments of a country is a systematic record of all its economic transactions with the outside world in a give year. It is a statistical record of the character and dimensions of the country’s economic relationships with the rest of the world (Johnson H 1958:113).

Determinants of balance of payment have been and are still a topic of interest to many people and nations. Because of its usefulness, many writers have contributed towards its meaning, causes and solutions. Some people have given little contributions as regards balance of payment equilibrium or disequilibrium. Others however, who seem to have understood the subject better have made more encompassing and well thought out contributions. [Read more…]

Deregulation of the Downstream Oil Sector in Nigeria

Deregulation of the Downstream Oil Sector in Nigeria as A Panacea to Economic Recovery of the Country: (An Analysis of 2010-2015 Economic Programme of Nigeria)

Background of the Study

Historically, major petroleum marketing companies were the main sources of petroleum product’s supply. The companies transported and distributed the products relying on their distribution and retail outlets. This was an era of Pre- regulation in which Nigerian paid market-determined prices for products. However, this arrangement was not sustainable given that it was dependent on the profit and market imperatives of the oil marketers.  The country’s economic activities expanded in the seventies such that private companies could no longer cope with increase demand for products. This resulted in erratic supply of petrol and kerosene and ultimately acute scarcity of the product. The shortage was endemic and created social and economic dislocation in the country. This market failure made government to venture into petroleum products marketing and distribution. [Read more…]

Effect of Deregulation of the Oil Sector on the Nigerian Economy

Effect of Deregulation of the Oil Sector on the Nigerian Economy

Abstract

This research work examines the effect of deregulation of the oil sector on the Nigerian Economy, it examines the definition, reasons modes, theories, problems as well as the solution to deregulation and its relation to privatization policy in the course of carrying out the investigation, hypothesis were stated and literature like magazine, textbooks, information from the internet, newspapers and questionnaires were prepared, and used in order to effectively and critically examines this issues and how it affects the general public with a view of making recommendation on how best to ensure the effective implementation of the policy. This project provides a background information of the topic of discussion with the purpose of assessing the effects of deregulation of oil sector on the Nigerian economy and examines the reasons, problems and solutions to deregulation. In an attempt to carryout this investigation, the study centred around the down stream oil sector with specific reference to the Nigerian economy [Read more…]

Capital Market Impact on the Economic Growth in Nigeria

Capital Market Impact on the Economic Growth in Nigeria (1988-2011)

Literature Review

Theoretical and Conceptual Framework

Capital market is defined as the market where medium to long terms finance can be raised. The capital market is the market for dealing (that is lending and borrowing) in long term loanable funds.    Substantial academic literature and government strategies support the finance-led growth hypothesis, based on an observation first made almost a century ago by Joseph Schumpeter that financial markets significantly boost real economic growth and development. Schumpeter asserted that finance had a positive impact on economic growth as a result of its effects on productivity growth and technological change. As early as 1989 the World Bank also endorsed the view that financial deepening matters for economic growth “by improving the productivity of investment”. (Wikipedia, 2011). [Read more…]

Impact of Foreign Debt Management on Nigerian Economy

Impact of Foreign Debt Management on Nigerian Economy

The Evolution of Nigeria’s External Debt Management

External debt management refers to the establishment of the conditions of issue and redemption of foreign loans. It follows that debt itself is not evil but lack of optimal utilization of externally derived fund should be associated with proper debt management and servicing problem (Mutallab, 1984). In other words, it is not wrong to be a debtor; after all there is no country in the world as a whole that is self-sufficient and so countries engage in trade with one another in order to acquire what is lacking in their country. This trade between countries renders a country indebted to one another. [Read more…]