Operations of the Central Bank of Nigeria (CBN): Its Impact on the Economic Development of the Country. (1970 - 1986
Operations of the Central Bank of Nigeria (CBN): Its Impact on the Economic Development of the Country. (1970 - 1986
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Date
1988-10
Authors
STEPHEN, ONYEMAECHI NWABUKO
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Abstract
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.
Description
A, Project submitted to the Postgraduate School,
Ahmadu Bello University, Zaria. In partial
fulfilment of the requirements for the award of
the Degree of Master in Business Administration
(MBA)of the Ahmadu Bello University, Zaria.
Department of Business Administration, Institute
of Administration, Ahmadu Bello University, Zaria".
OCTOBER, 1988
Keywords
Operations,, Central Bank of Nigeria (CBN,, Impact,, Economic Development,, Country,, (1970 - 1986.