Financial sector reforms, macroeconomic instability and the order of economic liberalization the evidence from Nigeria by Sylvanus I. Ikhide

Cover of: Financial sector reforms, macroeconomic instability and the order of economic liberalization | Sylvanus I. Ikhide

Published by African Economic Research Consortium in Nairobi .

Written in English

Read online

Places:

  • Nigeria.

Subjects:

  • Finance -- Nigeria.,
  • Business cycles -- Nigeria.,
  • Free enterprise -- Nigeria.,
  • Economic stabilization -- Nigeria.

Edition Notes

Book details

Statementby Sylvanus I. Ikhide and Abayomi A. Alawode.
SeriesAERC research paper ;, 112
ContributionsAlawode, Abayomi A.
Classifications
LC ClassificationsHG187.5.N6 I38 2001
The Physical Object
Pagination36 p. ;
Number of Pages36
ID Numbers
Open LibraryOL3984877M
ISBN 109966944532
LC Control Number2001312754
OCLC/WorldCa49515365

Download Financial sector reforms, macroeconomic instability and the order of economic liberalization

Macroeconomic stability prior to financial liberalization. They noted that high and unstable inflation often increases the demand for financial liberalization, but this might trigger further increases in inflation especially if fiscal deficits are large and the exchange rate is depreciating rapidly.

Instead of a big bang, McKinnon suggests a particular order to economic liberalization in order to maintain some stability during the transition process. He uses many examples to show that, for example, fiscal stability should come first, which is a lesson that has proven itself current with Argentina's and Turkey's cases in the early by:   In the second edition of The Order of Economic In all these countries the loss of fiscal and monetary control has often resulted in high inflation that undermines the liberalization process 5/5.

sector reforms with stabilization measures, in order to situate the reforms within a stable macroeconomic environment. Huge fiscal deficits, persistent depreciation of the exchange. Financial sector reforms, macroeconomic instability and the order of economic liberalization: The evidence from Nigeria.

Liberalization, Financial Instability and Economic Development Book Description: Weighing up the costs and benefits of economic interdependence in a finance-driven world, this book argues that globalization has been oversold to the Global South, and that the South should be as selective about globalization as the North.

Ikhide, S.I. and Alawode, A.A. () Financial Sector Reforms, Macroeconomic Instability and the Order of Economic Liberalization: Evidence from Nigeria. AERC Workshop Paper, Nairobi. has been cited by the following article: TITLE: Impact of Monetary Policy on Economic Growth in Nigeria.

In this context, financial liberalization represents a key strategy, which has an impact on economic growth and development, vulnerability to financial crises, and domestic financial and capital market development.

The order of economic liberalization: financial control in the transition to a market economy. Baltimore: Johns Hopkins University Press. MLA Citation. McKinnon, Ronald I. The order of economic liberalization: financial control in the transition to a market economy / Ronald I.

McKinnon Johns Hopkins University Press Baltimore economic reform of structural imbalances in the nation’s economy. The financial sector reform was a major aspect of Nigeria’s economic reform programme announced in Picking the financial sector liberalization as the arrowhead in the new economic policy, the strategy could be File Size: KB.

This paper analyzes the linkages between capital account liberalization and other policies influencing financial sector stability. Drawing on country experiences, the paper develops an operational framework for sequencing and coordinating capital account liberalization with other policies aimed at maintaining financial sector stability.

Based on the general principles, a methodology for. "Financial sector reforms began in Nigeria with the deregulation of interest rates in August Since then, far-reaching policy measures including the chartering of new banks, reform of the capital market and a move from direct to indirect monetary controls have been by: In the last part of the book, the authors torpedo the infamous IMF policy of capital market liberalization (CML).

CML has pernicious effects on economic stability, reducing profits and investment (incentives). It has vicious distributional consequences for the poor (unemployment) and small businesses (bankruptcies).Cited by: The empirical results showed that the impact of economic liberalization policy on performance of the Nigerian manufacturing, mining and quarrying, and power subsectors and the aggregate industrial sector is mixed and statistically significant.

Ikhide, S.I. and Alawode, A.A. () Financial Sector Reforms, Macroeconomic Instability and the Order of Economic Liberalization: Evidence from Nigeria. AERC Workshop Paper, Nairobi. 被如下文章引用: TITLE: Impact of Monetary Policy on Economic Growth in Nigeria; AUTHORS: Ajibola Ayodeji, Adeyemi Oluwole.

unintended effect of destabilizing the financial system, contributing to macroeconomic instability and, in some cases, reversal of the economic growth. A salient feature of structural financial sector reforms is enhanced competition in the banking industry, with the attendant stability-fragility trade-off.

Financial Sector Master Plan Phase III () Financial Sector Master Plan Phase III () macroeconomic and financial stability. In short, the main motto of the FSMP III is to create more “competitive, inclusive, connected and sustainable” Thai financial institutions system.

the regional economic and financial. Basing on the analysis of correlation between economic liberalization dynamics and macroeconomic indicators of the selected countries of the world, the magnitude of liberal reforms’ stimulating.

new domestic and foreign banks and, in some cases,nonbank intermediaries. In general,however,the financial reforms of the s focused on freeing interest rates and credit allocations, and made much less effort to improve the institutional basis of finance—a much harder, longer Size: KB.

Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks.

Edited by R. Barry. If one uses the ratio of broad money (cash. plus deposits in the commercial banking system) to national income as a measure of financial deepening and the success of reform, liberalization appears to have been much more successful in Asia (see chart).

However, this simple comparison can be by: Financial Sector Reforms, Macroeconomic Instability and the Order of Economic Liberalization: The Evidence from Nigeria. This is the case in the financial sector.

The creation of a two-tier banking system in the early s with separate and well-defined functions for the central bank and the state-owned commercial banks, has not resulted in the expected benefits: Lao PDR is still suffering from chronic macroeconomic instability and File Size: 2MB.

Financial sector reforms, macroeconomic instability and the order of economic liberalization: The evidence from Nigeria. The African Economic Research Consortium,Joya, O. ().Author: Asif Sajid, Amjad Ali. Financial Sector Liberalisation Liberalisation of the financial sector involves removing restrictions and regulatory controls over financial institutions, thereby allowing key instruments, such as interest rates and credit distribution, to be determined by the market.

Financial Liberalization, Capital Rationing, and the Informal Sector in Developing Countries J. Mohan Rao Part IV: Finance and Accumulation: Efficiency and Instability International Profit Rate Equalization and Investment: An Empirical Analysis of Integration, Instability, and Enforcement.

Economic Growth and Financial Liberalization. when we add variables capturing macro-economic reforms, such as inflation and trade openness, the liberalization effect is mostly not affected. especially focusing on the role of macroeconomic reforms and the development of the financial sector.

Our research agenda has a simple message. Sylvanus I. Ikhide & Abayomi A. Alawode, "Financial Sector Reforms, Macroeconomic Instability and the Order of Economic Liberalization: The Evidence from Nigeria," Research Papers RP_, African Economic Research Consortium.

Babajide Fowowe, Financial Liberalization and Stability of the Financial System in Emerging Markets: the institutional dimension of financial crises ♦♦♦♦ Abstract Emerging economies, which have implemented since the end of the 80's a process of financial liberalization, are confronted at the same time to banking Size: KB.

Domestic Banks and the Sequence of Financial Liberalization Nihal Bayraktar and Yan Wang* 2nd Draft: Aug Abstract The openness or internationalization of financial services is a complex issue as it is closely related to structural reforms in domestic financial sector with some perceived implications to macroeconomic by: This study aims at examining the effect of financial sector liberalization on the economic growth of Nigeria from to It also tends to know whether the achievement of liberalization will continue to increase the economic growth of the Nigeria since financial suppression leads to economic distortion and poor economic performance.

In the model specified, real gross domestic product Author: Madubuko Ubesie. Political economy of policy reform in Turkey in the s (English) Abstract.

Turkey's adjustment experience was a tremendous success in terms of structurally reorienting the economy. The share of output for export rose from 5 percent in to 23 percent inand real output roughly doubled.

The financial markets opened and Cited by: Download economic liberalization distribution and poverty or read online books in PDF, EPUB, Tuebl, and Mobi Format. Click Download or Read Online button to get economic liberalization distribution and poverty book now. This site is like a library, Use search box in the widget to get ebook that you want.

Economic Liberalization Distribution And. Introduction. The opening to the outside and the internal structural reforms of the financial sector are two interdependent processes, both having as a purpose the development of a financially competitive and efficient system in order to facilitate economic growth and financial system by: Financial Liberalization, Money Demand, and Inflation in Uganda by Nachega Jean-Claude This paper uses cointegration analysis to investigate the empirical relationship among money, prices, income, and a vector of interest rates in Uganda from to   José Antonio González is a senior research scholar at the Center for Research on Economic Development and Policy Reform at Stanford University.

Vittorio Corbo is a nonresident senior research fellow at the Center and professor of economics at Universidad Católica de Chile. Anne O. Krueger is the first deputy managing director of the International Monetary : Capital Account Liberalization and Financial Sector Stability.

by International Monetary Fund. Occasional Papers (Book ) Share your thoughts Complete your review. Tell readers what you thought by rating and reviewing this book. Rate it * You Rated it *Brand: INTERNATIONAL MONETARY FUND. The Government of Egypt (GoE) successfully implemented a first wave of macro-economic and structural reforms that successfully addressed a number of deep-seated issues and helped to stabilize the economy, sustain growth and lay the groundwork for more dynamic private sector participation in the economy.

In the Financial Year (FY) (ending. For decades, African economies have embarked on financial sector reforms. However, the empirical implications of these reforms have been divergent. This paper investigates the impact of financial development on Economic growth using time series data in Cameroon.

This investigation was carried out using three common indicators of financial development (broad money, deposit/GDP and Cited by: 4. Financial Sector Reforms, Macroeconomic Instability and the Order of Economic Liberalization in Nigeria Abayomi A. Alawode. Lead Financial Sector Specialist for China at The World : Lead Financial Sector Specialist.

Economic liberalization (or economic liberalisation) is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities; the doctrine is associated with classicalliberalization in short is "the removal of controls" in order to encourage economic development.

It is also closely associated with neoliberalism.Sequencing of Reforms, Financial Globalization, and Macroeconomic Vulnerability Sebastian Edwards NBER Working Paper No. October JEL No. F30,F31,F32,F4 ABSTRACT I use a large cross country data set and panel probit analysis to investigate the way in which the interaction.2.

Monetary and Financial Sector Reforms FESR focuses on the importance of monetary and financial sector reform, and it recognizes that macro-economic stability and strong economic growth depend in large part on a shift from direct to indirect instruments of monetary policy and the creation of an efficient, competitive and stable financial sector.

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