The Balance Of Payments As A Monetary Phenomenon:An Econometric Case Study Of Nigeria
AbstractTHE 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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Bibliographic InfoPaper provided by EconWPA in its series International Finance with number 0307001.
Length: 35 pages
Date of creation: 09 Jul 2003
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BALANCE OF PAYMENTS; ADJUSTMENT MECHANISMS; NIGERIAN ECONOMY ECONOMETRIC TESTS; CURRENT ACCOUNT; INTERNATIONAL;
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
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