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Author: Olusanya E. Olubusoye
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
Author: Olusanya E. Olubusoye
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
Author: Mr.Gary G. Moser
Publisher: International Monetary Fund
ISBN: 145184980X
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
This paper provides a selective review of the literature on the determinants of inflation in Nigeria, analyzes the dominant factors influencing inflation, presents the empirical results of a reduced-form elasticities model, and discusses the policy implications of the empirical results. The results of this analysis confirm the basic findings of earlier studies, namely that monetary expansion, driven mainly by expansionary fiscal policies, explains to a large degree the inflationary process in Nigeria. Other important factors are the devaluation of the naira and agroclimatic conditions. With respect to the depreciation of the naira, it was found that concurrent fiscal and monetary policies had a major influence on its impact on inflation. Given the considerable role of food commodities in the CPI, agroclimatic conditions (rainfall) were found to play a significant role in overall movements in prices and should be fully taken into consideration in any analysis of the inflationary process in Nigeria.
Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Author: Jongrim Ha
Publisher: World Bank Publications
ISBN: 1464813760
Category : Business & Economics
Languages : en
Pages : 524
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This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Author: P. Collier
Publisher: Springer
ISBN: 0230583199
Category : Business & Economics
Languages : en
Pages : 447
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Book Description
This book demonstrates that there is sufficient evidence on the Nigerian economy and society to inform many policy issues, and reveals the current problems and policy options that a democratic Nigeria will need to debate and resolve. It presents an agenda of reform as unfinished business.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451947208
Category : Business & Economics
Languages : en
Pages : 208
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Book Description
This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth–enhancing effects of investment in public capital and transfer payments are modeled, as is the growth–inhibiting influence of the levying of distortionary taxes that are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained that support the proposed influence of the public finance variables on economic growth.
Author: Mr.Paul R. Masson
Publisher: International Monetary Fund
ISBN: 145185515X
Category : Business & Economics
Languages : en
Pages : 54
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Book Description
Inflation targeting (IT) serves as monetary policy framework in several advanced economies, where it has enhanced policy transparency and accountability. The paper considers its wider applicability to developing countries. The prerequisites for a successful IT framework are identified as an ability to carry out an independent monetary policy (free of fiscal dominance or commitment to another nominal anchor, like the exchange rate) and a quantitative framework linking policy instruments to inflation. These prerequisites are largely absent among developing countries, though several of them could with some further institutional changes and an overriding commitment to low inflation make use of an IT framework.
Author: O. Olawale Awe
Publisher: Springer Nature
ISBN: 3031413520
Category : Computers
Languages : en
Pages : 433
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Book Description
This volume gathers papers presented at the LISA 2020 Sustainability Symposium in Kumasi, Ghana, May 2–6, 2022. They focus on sustainable methods and practices of using statistics and data science to address real-world problems. From utilizing social media for statistical collaboration to predicting obesity among rural women, and from analyzing inflation in Nigeria using machine learning to teaching data science in Africa, this book explores the intersection of data, statistics, and sustainability. With practical applications, code snippets, and case studies, this book offers valuable insights for researchers, policymakers, and data enthusiasts alike. The LISA 2020 Global Network aims to enhance statistical and data science capability in developing countries through the creation of a network of collaboration laboratories (also known as “stat labs”). These stat labs are intended to serve as engines for development by training the next generation of collaborative statisticians and data scientists, providing research infrastructure for researchers, data producers, and decision-makers, and enabling evidence-based decision-making that has a positive impact on society. The research conducted at LISA 2020 focuses on practical methods and applications for sustainable growth of statistical capacity in developing nations.
Author: Mr.Luis Catão
Publisher: International Monetary Fund
ISBN: 1451848706
Category : Business & Economics
Languages : en
Pages : 34
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Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a new modeling approach that incorporates two key features of the theory. Unlike previous studies, we model inflation as nonlinearly related to fiscal deficits through the inflation tax base and estimate this relationship as intrinsically dynamic, using panel techniques that explicitly distinguish between short- and long-run effects of fiscal deficits. Results spanning 107 countries over 1960-2001 show a strong positive association between deficits and inflation among high-inflation and developing country groups, but not among low-inflation advanced economies.
Author:
Publisher:
ISBN:
Category : Econometric models
Languages : en
Pages : 622
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