Purpose – The paper was written to highlight the advantages of initiating economic integration among Muslim countries across the globe, drawing special lessons from Europe’s experience; its successful economic integration and challenges which trailed the process. Design/methodology/approach – The methodology is basically descriptive and analytical. Theoretical construct and model on economic integration was developed for adoption by the Muslim countries. The model seeks to enhance th...
The purpose of this paper is to explore the viability of waqf and zakah as social safety nets (SSNs) for poverty reduction in Nigeria. The increasing rates of poverty, unemployment, crime, trafficking in persons and ethno-religious conflicts provide justification for an ethical approach to economic development in Nigeria. In making a case for the two ultra-religious models, the qualitative research method was preferred relying on documentary sources. The information sourced from previous...
Developing countries face massive poverty, slow GDP growth, high mortality rates, and low levels of education. In the year 1999, 1.2 billion people lived on less than $1 (in PPP US$) a day, and another 2.8 billion people lived on less than $2 a day (World Bank, 2003). The majority of the people in the least developed countries cannot read or write. Over 854 million adults in this world are illiterate, and 543 million of them are women (Human Development Report, 2000). Similarly, many people i...
The history of deficit financing dated back to 1978 when the nation absorbed a $1billion Jumbo loan presumably needed for rehabilitation, reconstruction and development of the wartorn Nigerian economy. However, this was an aftermath of the Nigerian civil war that lasted till 1970. This action subsequently followed by massive borrowing by both federal and state governments and their institutions to revitalize the already doldrums economy. Nations, the world over had engaged in various strateg...
In Nigeria, budget deficit has been blamed for causing much economic crises, high inflation, poor investment performance and growth (Appah and Chigbu, 2013). One of the most important objectives of fiscal policy is to reduce national debt and to check the interest payment on such debt from rising so as to prevent high deficit in the future. However, Nigerian government budget deficit witnessed an increase in the past decades. For instance, from 1981, deficits increased from N3.9billion to N8....
TABLE ON CONTENT SECTION ONE Introduction SECTION TWO Literature Review: SECTION THREE Situational Analysis SECTION FOUR Summary and Conclusion
External reserves are variously called International Reserves, Foreign Reserve or Foreign Exchange Reserves. While there are several definitions of international reserves, the most widely accepted is the one proposed by the IMF in its Balance of Payments Manual, 5th edition. It defined international reserves as consisting of official public sector foreign assets that are readily available to, and controlled by the monetary authorities for direct financing of payment imbalances, and directly r...
ABSTRACTThe thrust of this study is to evaluate the impact of Microfinance banks credit on Kaduna Stateand to examine the impact of Microfinance on the beneficiaries. The data utilized cross sectionaldata obtained through questionnaires administered randomly to six (6) operators, one hundredand eighty (180) questionnaires beneficiaries of microfinance banks’ credit facilities and onehundred and eighty (180) questionnaires non- beneficiaries of microfinance bank credit facilitiesrespectively...
There is a dilemma between the current call for a private sector led economic growth process for a reduction in government participation in the Nigerian economy, and the call for government domination in the economy. Government expenditure represents an important policy instrument through which an enabling environment can be created for a greater private sector participation in the economy. However, against the background of deepening economic crises that began in the 1980s following the ...
It is key and expedient to quickly recall that, the Reveal Preference Hypothesis was given by Paul Samuelson which is a major breakthrough in the demand theory. In line with the breakthrough, it is often and highly celebrated because of its intended advantage in the derivation of the demand theory without the use of the indifference curve as in the case of the ordinal world.
The Ricardian model is a simple picture of international trade between nations ,which was created to show comparative advantage in producing goods and the gain from trade. The concept of comparative advantage was introduced by David Ricardo in 19th century. The country has comparative advantage in producing if it can produce at a lower cost than any other country .The Ricardian model has been developed on the following assumptions: · Only two countries are involved in activitie...
From the knowledge of macroeconomic model, it is overtly true that, government expenditure is one of the components of aggregate demand. Going by this, its impact cannot be easily ignored or relegated with negligence. This is simply because; no economy has ever survived with zero emphases on this variable.
The main objective of this paper is to evaluate the various empirical test of the Ricardian comparative advantage model that were put in place by different researchers to ensure its validity in reality.
This paper investigates whether interest rate influence demand for money in Ghana using annual time series from 1980 to 2016. Demand for money is measured by broad monetary aggregate (M2+) whilst the rate of interest is proxied by the 91-day Treasury bill rate. Other variables included in the study are real income, inflation and exchange rate. The bounds testing approach to cointegration within the autoregressive distributed lag (ARDL) framework is employed as the estimation technique. The re...
CHAPTER ONEINTRODUCTION1.1. Background of StudyForeign Direct Investment (FDI) plays a very important part in the industrial growth ofdeveloped and underdeveloped countries and help to boost economic growth (United NationsIndustrial Development Organization, 2009). The International Monetary Fund (IMF) Balance ofPayment Manual describes FDI as an investment made to secure a perpetual share in a businessorganization taking its �...