Impact Of Economic Reforms On Performance Of The Manufacturing Sector In Nigeria

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Impact of Economic Reforms on Performance of the Manufacturing Sector in Nigeria

Author : O.A. Bernard
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Impact of Economic Reforms on Performance of the Manufacturing Sector in Nigeria by : O.A. Bernard

Download or read book Impact of Economic Reforms on Performance of the Manufacturing Sector in Nigeria written by O.A. Bernard and published by . This book was released on 2016 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the likely impact of economic reforms on the performance of the manufacturing sector in Nigeria. The paper utilized the Ordinary Least Squares (OLS) econometric method on data for the period 1981-2009. The Granger causality test established unilateral relationships that exist between exchange rate, electric power consumption and federal government capital expenditure. The reforms variables have not be able to alter the performance of the manufacturing sector as the present situation of the country demands it over the period under review, as such, manufacturing sector is impacting negatively on economic growth. The study reveals that exchange rate and electric power consumption that captures the reform period have positive and negative effects on manufacturing output respectively and they are statistically significant. On the other hand, other variables aforementioned impact negatively on manufacturing output and they are not statistically significant. Complementarily, the coefficient of determination test student t-test demonstrated that the adopted reforms have not significantly influenced the performance of the manufacturing sector and it has render manufacturing sector inactive to economic growth and development. Policies that would improve the international competitiveness of the Nigerian manufacturing output and improve its level of growth are strongly advocated.

Effects of Government Reform Policies on Nigeria's Manufacturing Sector

Author : Gabriel O. Falokun
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Effects of Government Reform Policies on Nigeria's Manufacturing Sector by : Gabriel O. Falokun

Download or read book Effects of Government Reform Policies on Nigeria's Manufacturing Sector written by Gabriel O. Falokun and published by . This book was released on 2008 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Wage and Employment Effects of Trade and Other Macroeconomic Policy Reforms

Author : A. O. Adewuyi
Publisher :
ISBN 13 : 9789781814396
Total Pages : 43 pages
Book Rating : 4.8/5 (143 download)

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Book Synopsis Wage and Employment Effects of Trade and Other Macroeconomic Policy Reforms by : A. O. Adewuyi

Download or read book Wage and Employment Effects of Trade and Other Macroeconomic Policy Reforms written by A. O. Adewuyi and published by . This book was released on 2009 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Productivity, Market Structure, and Trade Liberalization in Nigeria

Author : Adeola F. Adenikinju
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Productivity, Market Structure, and Trade Liberalization in Nigeria by : Adeola F. Adenikinju

Download or read book Productivity, Market Structure, and Trade Liberalization in Nigeria written by Adeola F. Adenikinju and published by . This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Challenges of Nigeria's Economic Reform

Author : Oladele Olashore
Publisher :
ISBN 13 :
Total Pages : 354 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Challenges of Nigeria's Economic Reform by : Oladele Olashore

Download or read book The Challenges of Nigeria's Economic Reform written by Oladele Olashore and published by . This book was released on 1991 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Impact of Global Economic Meltdown on the Performance Manufacturing Sector in Nigeria

Author : Ahmad Bello
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Impact of Global Economic Meltdown on the Performance Manufacturing Sector in Nigeria by : Ahmad Bello

Download or read book The Impact of Global Economic Meltdown on the Performance Manufacturing Sector in Nigeria written by Ahmad Bello and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Several opinions were made in relation to possible effect the ongoing global financial meltdown could have on Nigeria economy, however, few of these studies explore the impact of the crisis on the real sector of the economy. Effort was made in this paper to provide empirical evidence on the impact of the crisis on the manufacturing sector of Nigerian economy. To achieve this, an aggregate data was obtained in relation to investment and output of the sector from 2004-2009 on quarterly basis. Time series distributed-lag model using Almon approach was used to estimate the relationship. Secondly, dummy variables were introduced into the autoregressive model to determine the extent, if any, to which crisis has affected the investment output relation estimated obinitio. While the results indicate a significant relationship between investment and output, the dummies failed to indicate significant difference in the differential intercept and slope drifter within the period of the study. These establish that the sector has not been severely affected by the crisis. Possible explanation of the in severity is the autonomous nature of investment in the sector.

Trade Policy Reform and Manufacturing Performance in Nigeria

Author : Danbala Danju
Publisher :
ISBN 13 :
Total Pages : 246 pages
Book Rating : 4.:/5 (117 download)

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Book Synopsis Trade Policy Reform and Manufacturing Performance in Nigeria by : Danbala Danju

Download or read book Trade Policy Reform and Manufacturing Performance in Nigeria written by Danbala Danju and published by . This book was released on 1997 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis examines the impact of trade policy reforms on manufacturing performance in Nigeria as part of the on-going debates on the role of trade orientation in the development process. It traces the need for reform to the macroeconomic impact of the oil-boom experienced by the country in the 1970s. The reform process is viewed as part of the efforts to foster a more competitive environment and shift resources from non-tradable sectors to the tradable sectors The extent to which trade reforms were implemented is evaluated at both macro and firm levels. At the macro level, the exchange rates and protection based measures of reform are utilised to evaluate the overall orientation of Nigeria's trade regime. The estimates indicate some significant reduction in the bias against exports and significant improvement in the country's international competitiveness in the post reform period. At the firm level, the concepts of nominal and effective rates of protection and the share of firm's advertising expenditure in total costs were used to evaluate inter-firm variations in competitive pressure. The estimates of protection suggest that, while the level and variability of tariffs have been substantially reduced, there are still considerable variations in the level of protection among the sample firms. An overview of the post reform performance of the economy shows some recovery in terms of growth rates of aggregate macroeconornic variables. However, the recent performance of the manufacturing sector reveals more mixed outcomes; with some sectors, especially domestic resource-based, performing relatively well. At the firm level, the post-reform performance of the sample firms also reveals mixed outcomes; while generally indicating efficient operations as measured by the criteria of domestic resource cost, productivity growth and capacity utilisation, the firms recorded some increase in their price cost margins.........

Nigeria's Economic Reforms

Author : Ngozi Okonjo-Iweala
Publisher :
ISBN 13 : 9780979037658
Total Pages : 28 pages
Book Rating : 4.0/5 (376 download)

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Book Synopsis Nigeria's Economic Reforms by : Ngozi Okonjo-Iweala

Download or read book Nigeria's Economic Reforms written by Ngozi Okonjo-Iweala and published by . This book was released on 2007-06-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Following years of economic stagnation, Nigeria embarked on a comprehensive reform program during the second term of the Obasanjo administration. The program was based on the National Economic Empowerment and Development Strategy (NEEDS) and focused on four main areas: improving the macroeconomic environment, pursuing structural reforms, strengthening public expenditure management, and implementing institutional and governance reforms. This paper reviews Nigeria's recent experience with economic reforms and outlines major policy measures that have been implemented. Although there have been notable achievements under the program, significant challenges exist, particularly in translating the benefits of reforms into welfare improvements for citizens, in improving the domestic business environment, and in extending reform policies to states and local governments." The authors argue that the reform program must be considered as 'initial steps on a long journey'; consequently, they have outlined a number of outstanding issues that need to be addressed by future Nigerian administrations.

Structural Reforms and Economic Performance in Advanced and Developing Countries

Author : Mr.Jonathan David Ostry
Publisher : International Monetary Fund
ISBN 13 : 1589068181
Total Pages : 62 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Structural Reforms and Economic Performance in Advanced and Developing Countries by : Mr.Jonathan David Ostry

Download or read book Structural Reforms and Economic Performance in Advanced and Developing Countries written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2009-10-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.

Trade and Industrial Development in Africa

Author : Moyo, Theresa
Publisher : CODESRIA
ISBN 13 : 2869785712
Total Pages : 406 pages
Book Rating : 4.8/5 (697 download)

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Book Synopsis Trade and Industrial Development in Africa by : Moyo, Theresa

Download or read book Trade and Industrial Development in Africa written by Moyo, Theresa and published by CODESRIA. This book was released on 2015-03-02 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book revisits the perennial challenge that scholars, economists, and politicians have been grappling with since the 1960s. Development, in this book, has been defined in a context that projects it as a multidimensional and complex process which seeks to enhance the human, social, economic and cultural welfare of the people. This book calls for a rethinking of trade and industry for Africa's development. It uses data drawn from national development plans and strategies, and trade and industry issues have been prioritized at the continental level, in key policy documents. On the whole Africa's industry and trade performance have been poor in spite of national, regional, and continental plans. The contributors to this volume propose some alternative strategies and policies which are necessary for trade and industry to grow and to contribute to the well-being of Africa's people. It calls for a developmental trade and industry policy which, fundamentally, must be people-centred. African states should invest time, energy and resources to develop policies which will take into consideration African realities.The different contributors are aware that Africa has experienced strong economic growth in the recent past but this growth has largely been due to a strong demand for Africa's primary commodity exports. It has also been a result of increases in productivity and domestic investment and remittances from Africans living in the Diaspora. It is important to note that despite this unprecedented growth performance, the impact of trade and industry on development has been limited. The book argues that a structural transformation of Africa's economies is inevitable if Africa is to achieve the shift from the dominant paradigm of production and export of primary goods. The various contributors to this book agree that there is need to rethink policy and strategy in order to achieve industrial development in Africa. There is no unique solution or answer that can fit all situations as African countries are not the same. While Africa can draw lessons from other regions which have successfully industrialized, this book argues that policies and strategies will have to be adapted to country-specific situations and circumstances.

Policies to Support the Development of Indonesia’s Manufacturing Sector during 2020–2024

Author :
Publisher : Asian Development Bank
ISBN 13 : 9292614894
Total Pages : 470 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis Policies to Support the Development of Indonesia’s Manufacturing Sector during 2020–2024 by :

Download or read book Policies to Support the Development of Indonesia’s Manufacturing Sector during 2020–2024 written by and published by Asian Development Bank. This book was released on 2019-01-01 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indonesia's gross domestic product growth rate declined significantly after the Asian financial crisis (AFC) of 1997–1998. The country's potential and balance-of-payments growth rates are only about 5.5% and 3%, respectively. One important reason is that the country's industrialization pace declined after the AFC. Today, Indonesia is still exporting many unprocessed natural resources and simple manufactures (not complex products) with a low income elasticity of demand. This report analyzes how Indonesia's manufacturing sector could diversify and upgrade during 2020–2024 and beyond. This is essential if Indonesia is to attain upper middle-income status as soon as possible. Policy makers and the private sector need to collaborate to identify the coordination failures that hamper the discovery of those products that Indonesia could successfully produce and export. These must be complex products with a high income elasticity of demand. The report proposes a number of policies to expedite this process.

Rethinking International Trade

Author : Paul Krugman
Publisher : MIT Press
ISBN 13 : 9780262610957
Total Pages : 298 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Rethinking International Trade by : Paul Krugman

Download or read book Rethinking International Trade written by Paul Krugman and published by MIT Press. This book was released on 1994-03-29 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade, a small group of economists has challenged traditional wisdom about international trade. Rethinking International Trade provides a coherent account of this research program and traces the key steps in an exciting new trade theory that offers, among other possibilities, new arguments against free trade. Over the past decade a small group of economists has challenged traditional wisdom about international trade. Rethinking International Trade provides a coherent account of this research program and traces the key steps in an exciting new trade theory that offers, among other possibilities, new arguments against free trade. Krugman's introduction is a valuable guide to research that has delved anew into the causes of international trade and reopened basic questions about the international pattern of specialization, the effects of protectionism, and what constitutes an optimal trade policy. In the four sections that follow, he takes a revisionary look at the causes of international trade, and discusses growth and the role of history, technological change and trade, and strategic trade policy.

Global Productivity

Author : Alistair Dieppe
Publisher : World Bank Publications
ISBN 13 : 1464816093
Total Pages : 552 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Productivity by : Alistair Dieppe

Download or read book Global Productivity written by Alistair Dieppe and published by World Bank Publications. This book was released on 2021-06-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

The Romanian Economic Reform Program

Author : Mr.Dimitri G. Demekas
Publisher : International Monetary Fund
ISBN 13 : 9781557751904
Total Pages : 50 pages
Book Rating : 4.7/5 (519 download)

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Book Synopsis The Romanian Economic Reform Program by : Mr.Dimitri G. Demekas

Download or read book The Romanian Economic Reform Program written by Mr.Dimitri G. Demekas and published by International Monetary Fund. This book was released on 1991-06-15 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program.

Structural Reforms and Firms’ Productivity: Evidence from Developing Countries

Author : Wilfried A. Kouamé
Publisher : International Monetary Fund
ISBN 13 : 1484347005
Total Pages : 42 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Structural Reforms and Firms’ Productivity: Evidence from Developing Countries by : Wilfried A. Kouamé

Download or read book Structural Reforms and Firms’ Productivity: Evidence from Developing Countries written by Wilfried A. Kouamé and published by International Monetary Fund. This book was released on 2018-03-19 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the effects of structural reforms on firm-level productivity for 37 developing countries from 2006 to 2014 period. It takes advantage of the IMF Monitoring of Fund Arrangements dataset for reform indexes and the World Bank Enterprise Surveys for firm-level productivity. The paper highlights the following results. Structural reforms such as financial, fiscal, real sector, and trade reforms, significantly improve firm-level productivity. Interestingly, real sector reforms have the most sizeable effects on firm-level productivity. The relationship between structural reforms and firm-level productivity is nonlinear and shaped by some firms’ characteristics such as the financial access, the distortionary environment, and the size of firms. The pace of structural reforms matters since being a “strong reformer” is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all structural reforms under consideration are bilaterally complementary in improving firm-level productivity. These findings are robust to several sensitivity checks.

Making It Big

Author : Andrea Ciani
Publisher : World Bank Publications
ISBN 13 : 1464815585
Total Pages : 178 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Making It Big by : Andrea Ciani

Download or read book Making It Big written by Andrea Ciani and published by World Bank Publications. This book was released on 2020-10-08 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.

An Assessment of the Investment Climate in Nigeria

Author : Giuseppe Iarossi
Publisher : World Bank Publications
ISBN 13 : 0821378112
Total Pages : 146 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis An Assessment of the Investment Climate in Nigeria by : Giuseppe Iarossi

Download or read book An Assessment of the Investment Climate in Nigeria written by Giuseppe Iarossi and published by World Bank Publications. This book was released on 2009 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds light on some of the most important policy issues required to put Nigeria on a higher growth path. It highlights the challenges that Nigeria's businesses face today and what government can do to overcome such obstacles.