scholarly journals Heterogeneous private sector information, central bank disclosure, and stabilization policy

2015 ◽  
Vol 82 (2) ◽  
pp. 620-634 ◽  
Author(s):  
Jonathan G. James ◽  
Phillip Lawler
Keyword(s):  
Private Sector ◽  
Central Bank ◽  
Stabilization Policy ◽  
Bank Disclosure

scholarly journals Robustly Optimal Monetary Policy with Near-Rational Expectations

2010 ◽  
Vol 100 (1) ◽  
pp. 274-303 ◽  
Author(s):  
Michael Woodford
Keyword(s):  
Monetary Policy ◽  
Private Sector ◽  
Central Bank ◽  
Optimal Policy ◽  
Rational Expectations ◽  
Stabilization Policy ◽  
Optimal Monetary Policy ◽  
Inflation Target ◽  
Model Consistency ◽  
Long Run

The paper considers optimal monetary stabilization policy in a forward-looking model, when the central bank recognizes that private sector expectations need not be precisely model-consistent, and wishes to choose a policy that will be as good as possible in the case of any beliefs that are close enough to model-consistency. It is found that commitment continues to be important for optimal policy, that the optimal long-run inflation target is unaffected by the degree of potential distortion of beliefs, and that optimal policy is even more history-dependent than if rational expectations are assumed. (JEL C62, D84, E13, E31, E32, E52)

scholarly journals Investigating Finance-Growth Nexus: Further Evidence from Nigeria

2018 ◽  
Vol 10 (9) ◽  
pp. 121 ◽  
Author(s):  
Adeola Yahya Oyebowale ◽  
Noah Kofi Karley
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Private Sector ◽  
Central Bank ◽  
Government Expenditure ◽  
Secondary Data ◽  
Financial Sector ◽  
Capital Formation ◽  
Causality Test ◽  
Financial Sector Development

This study investigates the influence of financial sector development on economic growth in Nigeria during the period 1982 to 2015. As such, the study obtained annual secondary data from the Central Bank of Nigeria statistical bulletins and World Bank financial database. The empirical model for this study examines growth in savings, growth in exchange rate, growth in government expenditure, growth in stock market capitalization, growth in credit to private sector, growth in gross capital formation, growth in trade openness and growth in broad money on economic growth in Nigeria. The multiple regression output reveals that growth in government expenditure and growth in gross capital formation are statistically significant on economic growth in Nigeria at 1% and 10% respectively under the period under investigation while other regressors in the model prove to be statistically insignificant. VAR test shows that there is considerable short-run causality running from lags of regressors to economic growth in Nigeria except for lag 1 of growth in exchange rate and lag 2 of growth in credit to private sector. The granger causality test reveals the existence of bi-directional causality between financial sector development and economic growth in Nigeria during the period under investigation. Hence, this study supports the ‘feedback hypothesis’ view on finance-growth. Based on these empirical results, this study recommends effective channeling of funds to the private sector and autonomy of the Central Bank of Nigeria in the use of monetary policy tools.

scholarly journals THE EFFECT OF POLICIES OF THE RBI ON ISSUING NEW BANK LICENCES FROM POST NATIONALISATION OF BANKS IN INDIA

2021 ◽  
pp. 29-36
Author(s):  
Dr.K.Thirumamagal
Keyword(s):  
Private Sector ◽  
Central Bank ◽  
Regulatory Authority ◽  
The Other ◽  
Innovative Technology ◽  
Paper Study ◽  
Economic Stability ◽  
Regulatory Authorities ◽  
The World

In this modern scenario, Finance has become the foremost basic necessity in order to acquire the other necessities of life. The prominent financial sector are regulated by different regulatory authorities with a prime motto of protecting the interest of the customers and to uplift the weaker sections of the society. Since this strife-torn world is full of conflicts, corruption which has affected the economic stability of the state, the regulatory authorities should seriously analyze the effect of licenses going to be provided in 2014 and also it has to take in to account that the empires down the history have been known to get built only to be lost subsequently. The objective of this study is to impart the essential standards the banks of India should possess and also the challenges going to be faced by our economy due to the reckless decision of the regulatory authority. The need of this study is to safeguard the customers of us from the unscrupulous businessmen. This paper study the role of central bank and to analyze the result of providing license to the private sector, particularly the corporate houses, which is not practiced anywhere in the world. KEY WORDS: Corporates, Banks, Finance, Non Performing Asset, innovative, technology, Licenses, RBI

scholarly journals What possibilities exist to back up the mechanisms which support economy in Russia

2021 ◽  
Vol 227 (1) ◽  
pp. 152-160
Author(s):  
Mikhail V. Ershov ◽  
Keyword(s):  
Private Sector ◽  
Central Bank ◽  
Large Scale ◽  
Active Role ◽  
Domestic Market ◽  
State Spending

The growth of state spending should rely on appropriate mechanisms of financing. In the crisis environment the large scale emission of state bonds in domestic market may cause worsening of finance conditions for private sector. The article outlines the reasons why domestic central bank should play more active role, purchasing state bonds as is the case in other countries.

scholarly journals Inflation in Nigeria: Possible determinants and remedies to tackle it in Nigeria

2016 ◽  
Vol 6 (2) ◽  
pp. 35-43
Author(s):  
Godly Otto ◽  
Wilfred Isioma Ukpere
Keyword(s):  
Economic Theory ◽  
Exchange Rate ◽  
Private Sector ◽  
Central Bank ◽  
Social Infrastructure ◽  
The Public ◽  
Demand Pull ◽  
Cost Of Production ◽  
The Exchange Rate

The previous Governor of the Central Bank of Nigeria (CBN) had intended to introduce the N5,000.00 currency bill into the Nigerian economy and claimed that such currency bill would help it manage the exchange rate especially against the dollar. This generated a huge outcry from the public especially economists. The major reason was that this introduction would generate inflation and also because the policy ran counter to the cash-less policy of the Central Bank of Nigeria. But to the Central Bank, there was no economic theory to suggest a currency redenomination could cause inflation. This debate once more threw up a need to reexamine the determinants of inflation in Nigeria. Generally, inflation could be cost push or demand pull but what drives the demand or informs cost quite often differ from one economy to another. This study examined the factors responsible for increasing cost of production and spending behaviour in Nigeria. It was able to identify 13 factors that impact on inflation. However, the degree of impact of each factor is left for another study. The study recommends that government should concentrate on providing social infrastructure that would encourage the private sector to invest and expand output, taking advantage of existing unemployed resources. This would help to stem inflation in Nigeria which is usually caused by scarcity.

Ecuador banking sector is set for a comeback

2018 ◽  
Keyword(s):  
Private Sector ◽  
Central Bank ◽  
Banking Sector ◽  
Bank Lending ◽  
Foreign Banks ◽  
Economic Recovery ◽  
Content Type ◽  
Loan Growth ◽  
Double Digit

Subject Banking sector prospects. Significance Private sector banks in Ecuador enjoyed strong double-digit loan growth last year -- a reflection of the troubled economy’s gradual emergence from recession. That economic recovery, and the pragmatic willingness of President Lenin Moreno to work with the private sector, is generating optimism regarding the prospects of the country’s banking sector. Impacts Strong bank lending is key for economic recovery, allowing firms to increase investments and consumers to spend more. Taking the E-money system from the central bank shows Moreno’s pragmatism vis-a-vis the private sector. The planned sale of state-owned lender Banco del Pacifico could attract the interest of foreign banks.

Tehran will flounder over COVID-19’s economic impact

2020 ◽  
Keyword(s):  
United States ◽  
Social Security ◽  
Private Sector ◽  
Central Bank ◽  
Health Spending ◽  
The United States ◽  
Economic Pressure ◽  
Limited Capacity ◽  
Content Type ◽  
High Inflation

Significance Facing the region’s largest coronavirus outbreak, the authorities belatedly closed schools, banned all religious and social gatherings and asked people to stay indoors. However, since mid-April, they have loosened restrictions, reflecting the difficulties of the private sector as well as the government’s limited capacity to provide relief. Impacts The economic pressure from COVID-19 on top of sanctions may force Tehran to divert assets away from the conflict in Syria. Finance for operations in Iraq will be prioritised as a core Iranian interest as well as an arena to combat the United States. The central bank may be forced to print money to finance increased health spending and social security, risking extremely high inflation.

IMF unlikely to resolve Zambia's debt conundrum

2020 ◽  
Keyword(s):  
Private Sector ◽  
Central Bank ◽  
Global Markets ◽  
Debt Restructuring ◽  
Debt Sustainability ◽  
Content Type ◽  
Common Framework ◽  
Drying Up ◽  
To Come ◽  
Central Bank Governor

Significance While the G20's new Common Framework for Debt Treatments provides a new mechanism for debt restructuring, it also requires Zambia to convince the IMF that it has disclosed all of its obligations and has a path to debt sustainability -- something President Edgar Lungu and the ruling Patriotic Front (PF) are unwilling to do before next year’s elections. Impacts Zambia’s inability to borrow on global markets will hasten the kwacha's depreciation, which has dropped sharply against the dollar in 2020. With forex drying up, the new Lungu-aligned central bank governor is likely to come under more pressure to print kwachas before the polls. A protracted legal dispute with bondholders could make Zambia a poster child for Western campaigners demanding private-sector debt relief.

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