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A review of Soludo's perspective of banking sector reforms in Nigeria

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  • Balogun, Emmanuel Dele

Abstract

This paper focuses specifically on the recent Soludo’s banking sector reforms. The study noted that the Soludo’s reforms focused on strengthening the financial systems through banking sector consolidation, foreign exchange market stabilization, interest rates restructuring and the pursuit of stabilization as against structural adjustment policies for monetary and inflationary controls. A review of theoretical qualifications to the Soludo’s reform show that in thoughts, it is rooted in the Classical traditions of Say’s Law, acts monetarist, but expects a Keynesian outcome that money can stimulate expansion in aggregate domestic output. In concluding, the study noted the need to adopt an interest rate operating procedures for monetary policy in addition to moving the economy consciously towards the ‘law of one market and one price’ for the domestic and foreign money markets.

Suggested Citation

  • Balogun, Emmanuel Dele, 2007. "A review of Soludo's perspective of banking sector reforms in Nigeria," MPRA Paper 3803, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:3803
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    File URL: https://mpra.ub.uni-muenchen.de/3803/1/MPRA_paper_3803.pdf
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    Citations

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    Cited by:

    1. Guglielmo Maria Caporale & Carlos Pestana Barros, 2013. "Banking Consolidation in Nigeria, 2000-2010," NCID Working Papers 07/2013, Navarra Center for International Development, University of Navarra.
    2. Carlos Barros & Guglielmo Caporale, 2012. "Banking Consolidation in Nigeria," CEsA Working Papers 99, CEsA - Center for African, Asian and Latin American Studies.
    3. A. George Assaf & Carlos Barros & Ade Ibiwoye, 2010. "Performance assessment of Nigerian banks pre and post consolidation: evidence from a Bayesian approach," The Service Industries Journal, Taylor & Francis Journals, vol. 32(2), pages 215-229, August.
    4. Mohammad Younus Bhat & Apra Sinha, 2016. "Willingness to Pay for Preserving National Park Biodiversity: A Case Study," Economy, Asian Online Journal Publishing Group, vol. 3(2), pages 102-106, December.
    5. Umoren A. A & Akpan S. B. & Udoh E. J., 2016. "Analysis of Empirical Relationship among Agricultural Lending, Agricultural Growth and Non-Performing Loans in Nigerian Banking System," Economy, Asian Online Journal Publishing Group, vol. 3(2), pages 94-101.
    6. Ahmad Bello Dogarawa, 2011. "Chronology of banking reforms in Nigeria: A survey of past and present theoretical and empirical literature," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 19(4), pages 370-382, November.

    More about this item

    Keywords

    Monetary Policy; Reforms;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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