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The Balance Of Payments As A Monetary Phenomenon:An Econometric Case Study Of Nigeria

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Author Info
GODWIN CHUKWUDUM NWAOBI (QUANTITATIVE ECONOMIC RESEARCH BUREAU,ABUJA)

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Abstract

THE THRUST OF THIS PAPER HAS BEEN TO INVESTIGATE THE THEORETICAL PROPOSITION OF THE MONETARY APPROACH TO THE THEORY OF BALANCE OF PAYMENTS ADJUSTMENT MECHANISM. THE ESSENCE OF THE APPROACH IS A CONSISTENT INSISTENCE THAT BALANCE OF PAYMENTS IS A MONETARY AND NOT A REAL PHENOMENON AS POSITED BY THE CONVENTIONAL THEORIES. FROM THE VARIOUS TESTS CONCLUDED AND HYPOTHESIS EVALUATED,THE STUDY SUGGESTS THAT THE MANIPULATION OF DOMESTIC CREDIT BY THE MONETARY AUTHORITIES WILL NOT ENHANCE THE BALANCE OF PAYMENT VIABILITY OVER TIME; RATHER THAT INCREASES IN THE LEVEL OF OUTPUT MIGHT IMPROVE THE BALANCE ON CURRENT ACCOUNT.

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Publisher Info
Paper provided by EconWPA in its series International Finance with number 0307001.

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Length: 35 pages
Date of creation: 09 Jul 2003
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Handle: RePEc:wpa:wuwpif:0307001

Note: Type of Document - MICROSOFT WORD ; prepared on IBM PC ; to print on HP/; pages: 35; figures: included/request from author/draw your own. We never published this piece and now we would like to reduce our mailing and xerox cost by posting it.
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Related research
Keywords: BALANCE OF PAYMENTS; ADJUSTMENT MECHANISMS; NIGERIAN ECONOMY ECONOMETRIC TESTS; CURRENT ACCOUNT; INTERNATIONAL;

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Find related papers by JEL classification:
E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
F20 - International Economics - - International Factor Movements and International Business - - - General
F30 - International Economics - - International Finance - - - General
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Girton, Lance & Roper, Don, 1977. "A Monetary Model of Exchange Market Pressure Applied to the Postwar Canadian Experience," American Economic Review, American Economic Association, vol. 67(4), pages 537-48, September. [Downloadable!] (restricted)
  2. Connolly, Michael & Taylor, Dean, 1976. "Testing the Monetary Approach to Devaluation in Developing Countries," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 849-59, August. [Downloadable!] (restricted)
  3. Hang-Sheng Cheng & Nicholas P. Sargen, 1975. "Central bank policy towards inflation," Economic Review, Federal Reserve Bank of San Francisco, issue Spr, pages 31-40. [Downloadable!]
  4. Jonson, P D & Kierzkowski, H I, 1975. "The Balance of Payments: An Analytic Exercise," The Manchester School of Economic & Social Studies, Blackwell Publishing, vol. 43(2), pages 105-33, June.
  5. Fry, Maxwell J, 1976. "A Monetary Approach to Afghanistan's Flexible Exchange Rate," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(2), pages 219-25, May. [Downloadable!] (restricted)
  6. Putnam, Bluford H & Van Belle, John J, 1978. "A Monetary Approach to Afghanistan's Flexible Exchange Rate: A Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(1), pages 117-18, February. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Augustine A. Boakye & Hassan Molana, 2007. "Fluctuation in the International Currency Reserves of Less Developed Countries: HIPC vs Non-HIPC," Discussion Papers 203, University of Dundee, Economic Studies. [Downloadable!]
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This page was last updated on 2009-12-9.

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