ADMINISTRATION

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Browsing ADMINISTRATION by Subject "(1970 - 1986."

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    Operations of the Central Bank of Nigeria (CBN): Its Impact on the Economic Development of the Country. (1970 - 1986
    (1988-10) STEPHEN, ONYEMAECHI NWABUKO
    This study is about Money and Banking and iioonomic a c t i v i t y . As such it n e c e s s a r i l y deals with a number of important questions - questions whose answers affect a l l of us regardless of our occupation or s t a t u s in l i f e . . In r e l a t i n g various theories of the demand for, and supply of money, with the intent of determining how money exerts i t s influence on the broad economic questions of the l e v e l of employment, the l e v e l and change of p r i c e s , and economic growth and s t a b i l i t y, f a c i l i t a t e s an understanding of Monetary Theory which r e i n f o r c e s the meaningful consideration given to questions of Economic Policy. This study p o s t u l a t e s among other things t h a t; t h e r e is no unique method of managing money. Each country makes up i t s mind as to what i n s t i t u t i o n s it needs and what rules it needs to prescribe and what t o o l s to rely upon for the management of i t s monetary resources. The changes in the value and valume of money can affect the l e v e l of economic a c t i v i t i es through i t s e f f e c t s on production, employment income, p r i c e s and the Balance of Payments. The act of changing the value and quantity of monetary management. The Central Bank of Nigeria (CBN) is however powerless with respect to foreign a s s e t s and they have had to succumb to pressure from the Government to finance budget d e f i c i t s . Where, t h e r e f o r e , the Central Bank c r e d i t c o n s t i t u t e s i g n i f i c a n t elements in the process of money supply determination, monetary management is v i . not likely to succeed, Foreign trade and Government Expenditure are the principal factors affecting the money supply in the developing countries. It is accepted, that without autonomy, Central Banks in developing countries are not l i k e l y to maintain the value of the currency which is essential for the growth and development of t h e ir Economies.