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Balance Of Payments Constrained Economic Growth In Nigeria
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Book Synopsis Balance of Payments Constrained Economic Growth in Nigeria by : Emmanuel Igbinoba
Download or read book Balance of Payments Constrained Economic Growth in Nigeria written by Emmanuel Igbinoba and published by GRIN Verlag. This book was released on 2015-05-13 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2014 in the subject Business economics - General, , language: English, abstract: This paper assesses the Thirwall's balance of payment(BOP) constrained model by applying it on the Nigerian economy and employing cointegration method to observe the relationship between economic growth and current account balance equilibrium. While extensive research study on economic growth concentrate on the neoclassical supply-oriented approach based on the production function and full employment, Harrod(1939) emphasized that demand generated growth determine long run economic growth and Thirwall developed a Keynesian perspective of the determinants of growth embedded on a dynamic version of the Harrod's foreign trade multiplier. Thirwall pinpoints the incapability of economic agents to increase aggregate demand indefinitely in open economies as justification for income growth differences across nations. The balance of payment constrained growth model states that a country's economic growth rate is constrained by the desire to generate foreign exchange and reiterate the function of demand as the motivation for domestic growth. This arises because growth in export and investment growth in import substitution are the only aspect of aggregate demand that can increase GDP growth and reduce foreign constraints. This implies that growth rate is constrained by the balance of payment as the economy cannot grow faster than what is consistent with the balance of payment equilibrium. The principle of this Keynesian demand side growth theory is that export capability and import attitude establish long run economic growth. Income derived from external trade constitute the principal medium to finance growing import due to a rise in domestic activities. This model differ from the supply induced growth models which evaluate economic growth by using factor inputs such as savings, human and physical capital, population growth and initial per capital GDP on economic growth. Reservations about the traditional growth models stem from the fact that the factor inputs have inconclusive roles in the growth process in developing countries. Also a lot of the neoclassical assumptions have been observed to be unapplicable in developing or transition economies. The balance of payment constrained model infer that economic growth are stimulated by demand factors and the main constraint on demand is the balance of payment.
Book Synopsis Balance of Payments Constraint and Growth Rate Differences Under Alternative Policy Regimes in Nigeria by : A. O. Adewuyi
Download or read book Balance of Payments Constraint and Growth Rate Differences Under Alternative Policy Regimes in Nigeria written by A. O. Adewuyi and published by . This book was released on 2002 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Balance of Payments Analysis of Developing Economies by : Olumuyiwa Samson Adedeji
Download or read book The Balance of Payments Analysis of Developing Economies written by Olumuyiwa Samson Adedeji and published by Routledge. This book was released on 2017-11-30 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries - given their extreme economic vulnerability - are likely to be better served by maintaining flexible exchange rate regimes. That is the finding of this informative and enlightening book. Presenting unique theoretical and econometric analysis of the current account of the balance of payments of Nigeria and Ghana, this book examines the features common to the economic position of developing countries (such as recurring deficits and continual increases in external debt). The book presents a number of new theoretical modifications to the standard version of the value model of the current account, in order to reflect the major characteristics of developing economies. The book also uses rigorous econometric analyses to determine the validity of theoretical models, and examines the sustainability of these various countries' current account deficits.
Book Synopsis The Balance of Payments as a Constraint on Economic Growth by : J. S. L. McCombie
Download or read book The Balance of Payments as a Constraint on Economic Growth written by J. S. L. McCombie and published by . This book was released on 1985 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reprint Series by : Nigerian Institute of Social and Economic Research
Download or read book Reprint Series written by Nigerian Institute of Social and Economic Research and published by . This book was released on with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Balance-of-payments Constraint and Growth Rate Differences Among African and East Asian Economies by : M. Nureldin Hussain
Download or read book The Balance-of-payments Constraint and Growth Rate Differences Among African and East Asian Economies written by M. Nureldin Hussain and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Growth and the Balance-of-Payments Constraint by : John McCombie
Download or read book Economic Growth and the Balance-of-Payments Constraint written by John McCombie and published by Springer. This book was released on 2016-07-27 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: '... a well written book ... covering ... a vast amount of material ... well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers ... as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot be properly understood without reference to the performance of its tradeable goods sector and the strength of its balance of payments. It puts forward a demand orientated theory of why growth rates differ between countries where the major constraint on demand is the balance of payments. The book is critical of neoclassical growth analysis and provides an alternative theory of growth performance to the supply orientated approach of neoclassical theory. There are theoretical chapters comparing and contrasting neoclassical growth analysis with the new demand orientated approach, and empirical sections which apply the new model to regions and countries, including two case studies of the UK and Australia.
Book Synopsis Balance of Payments and Economic Growth by : John M. Letiche
Download or read book Balance of Payments and Economic Growth written by John M. Letiche and published by . This book was released on 1967 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Balance of Payments and Economic Growth [by] John M. Letiche by : John M. Letiche
Download or read book Balance of Payments and Economic Growth [by] John M. Letiche written by John M. Letiche and published by . This book was released on 1967 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy and Balance of Payments in Nigeria by : Timothy Proso
Download or read book Monetary Policy and Balance of Payments in Nigeria written by Timothy Proso and published by . This book was released on 2017 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the stylization policies with which the government of Nigeria manages the economy is that of monetary policy. Monetary policy formulation in Nigeria is usually targeted at achieving some macro-economic objectives amongst which is equilibrium in the country's Balance of Payments (BOP). Thus, this paper measured the relationship between balance of payment and monetary policy adopted in the country, using Ordinary Least Square (OLS) technique of multiple regression models with statistical time series data from 1980-2015. The estimated result shows a positive relationship between the dependent variable (Balance of Payment) and the independent variables (Money Supply, Interest Rate and Exchange Rate). Specially, Money Supply and Interest Rate had significant relationship with Balance of Payments whereas Exchange Rate was not statistically significant. Based on the results, were commend that the government should promote the exportation of Nigerian products, especially the non-oil products, as this will bring in more foreign exchange to the country, boost productive activities and improve the balance of payments position of the country. Also, the Central Bank of Nigeria should ensure that the monetary policies adopted in the country are complemented with effective fiscal policies to foster economic growth and development in the Nigerian economy.
Book Synopsis Economic Development in a Deregulated Economy by : E. C. Onwuka
Download or read book Economic Development in a Deregulated Economy written by E. C. Onwuka and published by . This book was released on 1996 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Balance of Payments Constrained Growth by : John McCombie
Download or read book Essays on Balance of Payments Constrained Growth written by John McCombie and published by . This book was released on 2015-12-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This impressive collection explores the relationship between a country's balance of payments and their rate of economic growth.
Book Synopsis The Nigerian Economy and Current Economic Reforms by : Augustus N. Gbosi
Download or read book The Nigerian Economy and Current Economic Reforms written by Augustus N. Gbosi and published by . This book was released on 2007 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Nigerian Economy at the Crossroads by : John E. Udo Ndebbio
Download or read book The Nigerian Economy at the Crossroads written by John E. Udo Ndebbio and published by . This book was released on 1991 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Balance of Payments Constraint on Economic Growth by : C. L. Stals
Download or read book The Balance of Payments Constraint on Economic Growth written by C. L. Stals and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Meeting of Alumni of the School for business leadership of UNISA.
Book Synopsis The Nigerian Economy by : Temitope Oshikoa
Download or read book The Nigerian Economy written by Temitope Oshikoa and published by Praeger. This book was released on 1990-02-15 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines descriptive, technical, empirical, policy evaluation, and forecasting methodologies to provide a systematic analysis of the the Nigerian economy--the largest and most dominant economy in sub-Saharan Africa. The author develops and tests an integrated macroeconomic input-output model of the economy's workings, using it to explain Nigeria's recent economic growth and development and to forecast the country's future growth prospects. The model also enables Oshikoya to provide a source of information on estimates of the structural parameters of the Nigerian economy; to evaluate the role of government policy in determining general levels of economic activity; to study the relationships among the major economic variables and the determinants of their magnitudes, composition, and rates of change over time; and to examine the impacts of such factors as fluctuations in the world petroleum market, technological change, and external debt accumulation on economic growth in Nigeria. An ideal supplemental text for courses in development economics, this volume will also be of significant assistance in the design, formulation, and evaluation of macro-policy initiatives, forecasting, and development planning for Nigeria. Following an introductory overview, the author provides a detailed descriptive analysis of the Nigerian economy, focusing particular attention on its basic structure and the policies and events which have contributed to recent growth. He then provides a theoretical model of the Nigerian economy and presents an econometric estimation of the input-output model. A separate chapter demonstrates the model validation techniques used in the study and evaluates the tracking ability of the complete model in a historical context. Finally, the author projects growth patterns for the Nigerian economy from 1984 to 2000 and offers an extended discussion of the impact of external borrowing on the economy's current and future growth prospects. In his conclusion, Oshikoya points to the need to adapt empirical models to the special conditions of developing countries and calls for such policy suggestions as a stabilization fund to minimize the impact of cyclical oil revenue patterns on the economy, a higher priority for investment in agriculture, and a relaxation of external debt constraints.
Book Synopsis Nigeria's Balance of Payments Experience by : Charles C. Nwali
Download or read book Nigeria's Balance of Payments Experience written by Charles C. Nwali and published by . This book was released on 1985 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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