CHAPTER ONE INTRODUCTION 1.1 Background of the study Today’s globalised world is a world of interdependence, self dependence even when desired is difficult to achieve; some countries in the past have adopted autarkical policies to try to live in isolation alas, measures like that are difficult to achieve due to variations in endowment placed on countries by Mother Nature, they could not provide all their needs, in fact, they ended up with welfare losses (e.g. Spain under Franco). Also, it is as
BACKGROUND OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
ANALYSIS OF THE TRENDS AND BEHAVIOURAL PATTERN OF THE NIARA EXCHANGE RATE AND FOREIGN DIRECT INVESTMENT IN NIGERIA Nigeria has a great potential for attracting foreign investment. It has a large market, represented by a large vital population and it is richly endowed with natural resources mineral deposits especially oil and gas, vegetation, arable agricultural land etc. she also has cheap labor force. Available statistics show that the country has not benefited much from foreign investment flows
Gamage1*, Adamu Tijjani Musa1 Abstract This empirical study was carried out to test the stability of aggregate money demand function in Pakistan. The economic theory suggests that income and inflation is positively related to money demand while rate of interest has an inverse relation with it. The autoregressive distributed lag model (ARDL) was applied and it confirmed the long run relation between the studied variables. The coefficients of income, rate of interest and inflation have statistically significant
CHAPTER ONE INTRODUCTION 1.1 Background to the Study In the aftermath of Johnson Matthey Bankers’, Enron Corporation, WorldCom incorporated failure and a good number of other corporate financial scandals, issues of corporate governance became the focus of public discussion, as poor governance practice was identified as a major contributor to most of the failures. Furthermore, the tragic event of the Russian financial scandal and Asian financial
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Nigeria has been suffering the negative environmental consequences of oil development since oil was discovered in Nigeria (Badejo and Nwilo 2008). The growth of the country’s petroleum industry combined with an increasing growth rate in human population and a lack of enforcement of environmental regulations and commitment on the part of government has led to substantial
For internal migration which is mostly the rural-urban drift, most rural dwellers move for economic or security reasons. For instance in the case of Nigeria, with the onset of the terrorist attacks in the north most of the people there have moved to the south for security. Others move to the cities because they believe there are more opportunities and entrepreneurs (mostly micro-entrepreneurs) move to gain a greater market for their businesses. (Todaro and Smith 2011) In the area of international
venture capital companies, mutual funds etc. and other modarabas, stock exchange and insurance companies. The supervisory responsibilities in case of banks, development finance institutions and micro finance banks under the prevalent legislative structure that falls within legal ambit of state bank of Pakistan while the rest
and will prevail in societies, whether in a higher or lower degree. The size, motives and repercussions differ from country to country, but the similarities are important in order to deal with this phenomenon in order to create effective economic policy decisions, as its consequences on economic and social development are important. It is in constant evolution and adapts to changes in the tax system and regulations but it is difficult to gather information about it as no one engaged
The Niger Delta – the geographical heart of oil production in Nigeria has been a breeding ground for militants and ‚impoverished ethnic groups‛ for some years now. This is because the discovery of oil and its exploitation has ushered in a miserable, undisciplined, decrepit, and corrupt form of ‘petro-capitalism’ which produces conflict accelerating factors. Devastated by the ecological costs of oil spillage and the highest gas flaring rates in the world, the Niger Delta has become a centre of violence